The subject of governance can not be confined to mechanical issues of code-creation, scrutiny and compliance. The focus of this paper is on issues shaping, in Galbraith’s term, the technostructure of the modern company operating under the anglo-american model of governance. In particular the role of employees of the firm in the governance of corporations - in the technostructure - is discussed and developments in South Africa are outlined.
Chapter 2 discusses the relationship between employees and the employing corporation in the context jurisprudence of the employee/employer relationship and current theoretical conceptions of the corporation. That chapter also looks at the role of employees in the US (as the exemplar of anglo-american governance) as owners/shareholders though pension funds and as participants in a wider pattern of corporate scrutiny by institutional investors.
Chapter 3 reviews recent developments in South Africa, including an attempt to introduce employee-participation through, not company, but labour law.