■ This article explores the origins and development of the European
Company Statute, with particular reference to its provisions for employee
involvement, both through a `representative body' and through board-level
participation. European companies can be seen as `hybrid' organizations in which
common European-level elements are combined with supplementary features deriving
from the legislation of the country in which they are registered. The article
outlines the types of company that have opted so far to become European
companies and analyses a variety of the issues raised, including the range of
options that now confront management in setting up such a company, the position
of the unions and the `Europeanization' of company boards. The principal
conclusions are that the Statute represents a further step in the development of
`multi-level governance' of the EU, and that it will increase regulatory
competition among the member states.
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