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The Swedish Model of Corporate Ownership and Control in Transition
Henrekson, Magnus; Jakobsson, Ulf - Institutet för Näringslivsforskning (IFN) - 2003
We analyze the development of the Swedish ownership model after World War II. The controlling ownership in Swedish firms is typically concentrated to one or two owners. Often, but not always, the controlling owners are Swedish families. Thus, the model resembles the typical corporate control...
Persistent link: https://www.econbiz.de/10005645325
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The Swedish Corporate Control Model: Convergence, Persistence or Decline?
Henrekson, Magnus; Jakobsson, Ulf - Institutet för Näringslivsforskning (IFN) - 2011
This paper explores the effects of deregulation and globalization on the dominant mode of corporate governance in Swedish public firms. The effects are multidimensional—the direction of change in corporate governance cannot be determined by simply examining whether a convergence towards the...
Persistent link: https://www.econbiz.de/10008784428
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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2009
We construct a model where incumbents can either acquire basic innovations from entrepreneurs, or wait and acquire developed innovations from entrepreneurial firms supported by venture capitalists. We show that venture-backed entrepreneurial firms have an incentive to overinvest in development...
Persistent link: https://www.econbiz.de/10005025461
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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists, and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2004
The starting point of this paper is that the exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent...
Persistent link: https://www.econbiz.de/10005645429
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Employee Compensation in Entrepreneurial Companies
Bengtsson, Ola; Hand, John R. M. - Institutet för Näringslivsforskning (IFN) - 2012
Despite the central role played by human capital in entrepreneurship, little is known about how employees in … degree to which VCs versus founders control the business. We show that relative to founder-controlled firms, VC …-controlled firms pay their hired-on (i.e., non-founder) employees higher cash salaries, provide stronger cash and equity incentives …
Persistent link: https://www.econbiz.de/10010818473
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Globalization of Corporate Covernance: The American Influence on Dismissal Performance Sensitivity of European CEOs
Jungeilges, Jochen A.; Oxelheim, Lars; Randoy, Trond - Institutet för Näringslivsforskning (IFN) - 2010
This study examines how globalization of corporate governance practices influence the risk of European CEOs being dismissed. We argue that the harsh monitoring of the American corporate governance system spills over to the rest of the world as a result of this globalization. We focus on direct...
Persistent link: https://www.econbiz.de/10008562416
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The Effects of Internationalization on CEO Compensation
Oxelheim, Lars; Randoy, Trond - Institutet för Näringslivsforskning (IFN) - 2004
This study examines the relation between the internationalization of firms and CEO compensation. Starting from a sample of Norwegian and Swedish listed firms we analyze the effects of internationalization as manifest in the capital market (international cross-listing), the market for corporate...
Persistent link: https://www.econbiz.de/10005645393
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The Impact of Foreign Board Membership on Firm Value
Oxelheim, Lars; Randøy, Trond - Institutet för Näringslivsforskning (IFN) - 2001
This study examines the effect of foreign (Anglo-American) board membership on corporate performance measured in terms of firm value (Tobin’s Q). On a basis of firms with headquarters in Norway or Sweden the study indicates a significantly higher value for firms that have outsider...
Persistent link: https://www.econbiz.de/10005645423
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Do Entrenched Managers Pay Their Workers More?
Svaleryd, helena - Institutet för Näringslivsforskning (IFN) - 2005
Based on a two-million-observation panel dataset that matches public firms with detailed data on their employees, we find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights (votes) than all other blockholders together, pay their...
Persistent link: https://www.econbiz.de/10005645442
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International Mergers with Financially Constrained Owners
Berg, Aron; Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2012
counterproductive. Foreign acquisition can increase the domestic owner’s investment in growth industries by reducing their financial … driven by effects on the merged entity, but also driven by the seller’s alternative investment opportunities. …
Persistent link: https://www.econbiz.de/10010575175