The Impact of Cross-border Mergers on Co-decision Making: The Case of a Danish company

The present article investigates changes over time in the patterns of co-decisionmaking in a Danish multinational company which has grown through cross-border mergers and acquisitions. The findings show the difficulties that trade union representatives face when firms try to introduce a governance regime based on shareholder value ideology. The article argues that hybrid forms of governance are unlikely to develop due to historically embedded governance institutions, which create distinct expectations about how a firm must be governed and who has the right to participate in this governance. The spread of the Anglo-Saxon model of governance in Europe is likely to have negative effects on co-decision-making processes and established patterns of organizational cooperation.