1. Department of Trade, Report of the Committee of Inquiry on Industrial Democracy (Bullock Report), Chairman Lord Bullock, presented to Parliament by the Secretary of State for Trade by Command of Her Majesty, January 1977.
2. The British Bullock Report pointed strongly to the industrial conflicts in Britain as a rationale for mandatory co-determination (see supra n. 1), at p. 25. Pointing out the reasons for the failure of the Bullock Report, P. Davies and M. Freedland, Labour Legislation and Public Policy (Oxford, Clarendon Press 1993), at pp. 396–404.
3. See K. Biedenkopf, Unternehmer und Gewerkschaft im Recht der Vereinigten Staaten von Amerika (Wiesbaden, Verlagsgesellschaft Recht und Wirtschaft 1961), at p. 13.
4. L. Strine, ‘Toward Common Sense and Common Ground? Reflections on the Shared Interests of Managers and Labor in a More Rational System of Corporate Governance’, 33 Journal of Corporation Law (2007) p. 1, with comments by S.M. Bainbridge, R.J. Gilson and others.
5. In the terminology coined by the German émigré Albert O. Hirschman, selling in the case of financial participation is to be regarded as exit and co-determination as voice, see A.O. Hirschman, Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations, and States (Cambridge, Mass., Harvard University Press 1970).