In our outfit we use the Flight Safety Foundation's ALAR checklist as an aid to the approach briefing. At the end, printed in block capitals, is
"IT'S OK TO GO-AROUND".
Believe it or not, the company actually encourages us to do just that. Our stabilised altitude is 1000ft with 800ft as the visual one. I don't know what our ratio of continued approaches to go-arounds is but I'd be prepared to bet that we have a higher than usual number of G/As. Most of the Captains do actually encourage the F/O to call G/A if they're not happy with the approach. Of course there are those who'll never do that and they're the ones who'll have the incident/accident some day. And just for the record, we have 200 hr F/Os straight from flight school on the 'bus and they're outstanding! Short of experience yes but good guys who just want to learn. It's our job to ensure that they learn the right things.
Of course it's a tough call for a young F/O and all the CRM courses in the world cant buy experience. However, if those thrust levers are pushed to TOGA (or the TOGA button is pushed on the Boeings) there's not a lot the Capt can do about it except to discuss it afterwards. As a Capt I'd prefer he did that even when he might be a bit premature, than do nothing when he should have! He might just save my job and my neck. It's up to every Capt to create the atmosphere on the flight deck that encourages the F/O to speak (and act) up when things are not according to plan.
To the 20,000 hr guy who takes the opposite view I say I know where you're coming from but as someone else said which "wrong decision" would you prefer the F/O to make? I know I can screw up just a fast as the next guy but I hope I'm not so proud that I'd ignore a genuine call - no matter how "wrong" I might think it is. I'd much prefer to discuss it afterwards in the bar than in the enquiry!!!