Laws on codetermination... have made European CEO's deeply committed to their employees, treating them more like partners in a long-term enterprise than anonymous factors of production. – Henzler, 1992”

This sentiment can be directly contrasted with Alchian, 1984: “The campaigns for … codetermination on boards of directors appear to be attempts to control the wealth of stockholders' specialized assets … a wealth confiscation scheme.”

anecdotal