Intérêt partagé des managers et des travailleurs : des affirmations et des questions

Je signale cet article fort intéressant du professeur BAINBRIDGE « The Shared Interests of Managers and Labor in Corporate Governance : A Comment on Strine » publié par UCLA School of Law.

Si le juge STRINE a récemment tenté d'identifier les considérations communes entre le management, les travailleurs et les actionnaires et de donner à l'entreprise une vision sociale (« social institution that, albeit having the ultimate goal of producing profits for stockholders, also durably serves and exemplifies other societal values »), BAINRIDGE réagit dans cet article à cette affirmation. Sa conclusion est éloquente sur ce point :

« There is a case to be made for disempowering shareholders, but helping management and labor to find common ground is not the foundation on which that case rests. Once we begin to unpack the concept of the corporation as “a social institution,” it becomes clear that the common interests of managers and employees are quite limited in scope. At best, they share an interest in the continued existence of the corporate entity. Yet, even that interest is subject to competing considerations. By virtue of their control of the company, management is far better positioned than ordinary employees to reap private benefits. Those benefits can come at the expense of labor just as easily as they can at the expense of capital. Fine tuning the rules of the corporate law game thus is unlikely to do much about the great social issues that motivate Strine’s project ».

Bonne lecture et à la prochaine ...