Reference no: EM132225210

To some extent, national governments have taken regulatory action to help restore public confidence in the corporate sector - often following an outcry by employees and their trade unions. Yet this action has tended to focus on narrow aspects of governance, for example, on ensuring more thorough and credible company audits. More worrying is the fact that only a handful of governments has undertaken a comprehensive review of corporate governance or taken broad-based action, backed by effective regulation, to institute needed reforms. These should include giving workers and workers’ capital a real voice in company decision-making procedures and creating new instruments allowing them, their organizations and responsible investors to act as brakes on the excesses of management. Given the adversarial approach of U.S. labor laws, should trade unions be given a voice in company decision-making, a voice in corporate governance in the U.S.? Are there other ways to protect workers and their rights? Explain your answer.