This issue of Transfer is on corporate governance. It argues that worker participation is vital to ensuring a company’s success. The issue analyses the influence of worker participation on corporate governance and how it contributes to developing more socially responsible companies. Key arguments: A “sustainable company”, which focuses more on patient capital and formalised workers’ influence on company decision-making, provides a successful alternative to conventional thinking on transparency which concentrates on informing shareholders. Good corporate governance recognises the interests of all stakeholders - not just shareholders. European Works Councils and worker representation in the boardrooms of European companies help achieve this as do international framework agreements between global trade union confederations and multinational companies. Companies are seeking greater social legitimacy via the establishment of corporate social responsibility policies. Respecting and involving trade unions that represent the workforce is a natural part of CSR development.

Key articles:

• Corporate governance, workers’ participation and CSR: the way to a good company - Norbert Kluge and Isabelle Schömann
• The evolving European system of corporate governance: implications for worker participation - Sigurt Vitols
• Corporate governance, workers’ participation and CSR: the way to a good company - Norbert Kluge and Isabelle Schömann
• The evolving European system of corporate governance: implications for worker participation - Sigurt Vitols
• The evolution of capitalism and the future of employment policy in the EU - Dominique Bé
• From shareholder value to private equity – the changing face of financialisation of the economy - John Evans and Pierre Habbard
• CSR and corporate governance in Austria - Eva Angerler and Barbara Liegl
• Employee participation, ethics and corporate social responsibility - Isabelle Daugareilh
• International framework agreements: new paths to workers’ participation in multinationals’ governance? - Isabelle Schömann, André Sobzack, Eckhard Voss and Peter Wilke