Working Paper Series
The Swedish Corporate Control Model: Convergence, Persistence or Decline?
() and Ulf Jakobsson
Abstract: 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 Anglo-Saxon model is occurring. Dispersed ownership
with management control has not proven to be a viable model of corporate
governance for Swedish listed companies. Instead, the control models with
the most rapid growth in the most recent decades are found outside the
stock market, notably private equity and foreign ownership. After a major
revival of the Swedish stock market its importance for the Swedish economy
is again in decline. Instead of adjustments in pertinent institutions and
practices to ensure effectiveness of the corporate governance of Swedish
public firms under these new conditions, a great deal of endogenous
adjustment of the ownership structure has taken place.
Keywords: Corporate control; Corporate governance; Corporatism; Entrepreneurship; Ownership policy; Ownership structure; Swedish model; (follow links to similar papers)
JEL-Codes: M13; N24; O38; P16; (follow links to similar papers)
39 pages, January 2, 2011
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- This paper is published as:
Henrekson, Magnus and Ulf Jakobsson, (2012), 'The Swedish Corporate Control Model: Convergence, Persistence or Decline?', Corporate Governance: An International Review, Vol. 20, No. 2, pages 212-227
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