This book investigates the potential of the Spanish Sociedades Laborales (SLs) as an instrument of active labour market policy for re-turning the unemployed to the labour market and also the transferability of the scheme to other EU Member States. Spanish Sociedades Laborales (SLs) ? mostly small and micro enterprises ? are a qualified form of conventional corporation, majority-owned by their permanent employees. Unemployed persons can capitalise their unemployment benefits as a lump sum to start a new SL or to recapitalise an existing SL by joining it. This makes SLs similar to start-up subsidies for the unemployed, an established instrument of active labour market policy across the EU. The new 2015 Law on Worker-Owned and Participatory Companies substantially modernised the concept of SLs 30 years after its inception.

The book tackles two currently widely discussed policy issues at both the EU level as well as the national level, i.e., reactivating unemployed in the context of ALMP and encouraging employee co-ownership in the context of the economic reform agenda in particular with regard to corporate governance, regional economic stimuli and distributive justice.