Codetermination raised the probability of employees preferring to work at a firm by 7%; ESOP's by 10%.

"In the left panel, we find that respondents in general prefer to work at more democratic workplaces to the private corporation. Relative to the baseline condition, co-determination raises the probability of preferring a given firm by 7 percentage points (CI95 = [4pp, 11pp]), ESOP raises the probability of preferring a given firm by 10 percent- age points (CI95 = [6pp, 14pp]), and management elections raises the probability of preferring a given firm by 5 percentage points (CI95 = [1pp, 8pp])."

empirical