What is the role of multinational companies in the internationalization of
markets and production? Debate has polarized around contrasting 'global' an
d 'national business system' perspectives. The article moves beyond this di
chotomy, conceptualizing the international company as a distinctive form of
organization on a sub-global basis. Focusing on Europe, it explores the re
levance of the idea of a 'Eurocompany' for industrial relations analysis by
examining the case of European Works Councils. These represent a specifica
lly European development, deriving from regulatory initiative by the EU, bu
t also from developments within MNCs themselves. Drawing on evidence from a
study of the provisions of 386 voluntary agreements establishing EWCs, the
article questions the argument that these 'European' structures are essent
ially extensions of national systems of workplace representation. It shows
the additional influence on the structure and functioning of EWCs of factor
s, such as sector, which transcend national borders.