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Absolute income mobility and the effect of parent generation inequality: An extended decomposition approach
Liss, E., Korpi, M., & Wennberg, K.
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No evidence of counteracting policy effects on European solar power invention and diffusion
Grafström, J., & Poudineh, R.
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About

  • About us

    • About
    • Contact us
  • Media

    • News archive
  • Cooperations

    • Eli F. Heckscher Lectures

Research

  • Areas

    • Labour Market Research
    • Competitiveness Research
    • Climate and Environmental Research
  • Ongoing research

    • Working Paper Series
  • People
  • Publications

    • Publications

      • Publications

    Working Paper No. 162. One Share-One Vote

    PublicationWorking paper
    Ägarskap, Aktiebolag, Företagandets villkor, Johan Eklund, Performance
    Working Paper No. 162.
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    Abstract

    Shares with more voting rights than cash flow rights provide their owners with a disproportional influence that is often found to destroy the value of outside equity. This is taken as evidence of discretionary use of power. However, concentration of power does not necessarily result from control enhancing mechanisms; it could also be that some shareholders retain a large block in a one share-one vote structure. In this paper, we develop a methodology to disentangle disproportionality, which allows us to test the effect of deviations from one share-one vote more precisely. Our empirical findings add to the existing literature.

    Eklund, J.E. & Poulsen, T. (2010). One Share-One Vote: New Empirical Evidence. Ratio Working Paper No. 162.

    Details

    Author

    Eklund, J.E. & Poulsen, T.

    Publication year

    2010

    Published in

    Ratio Working Paper


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    In innovation systems, venture firms, incubators and science parks may interact with universities to achieve commercialisable output. These various parties are connected to different guiding performance metrics — measures on each party’s performance — that influence their behaviours. This paper illustrates and discusses the role of performance metrics among various parties in innovation systems connected with early research ideas from universities. The empirical part of the paper is based on interviews with 20 researchers and 10 representatives of various innovation system organisations in an EU-based research project. The paper points out how parties in the innovation process saw different reasons to participate which were strongly connected with how each party was evaluated and which caused sub-optimisation in behaviours. Previous research on innovation systems has not focused on the rationales and behaviours of parties. The focus on metrics targets an important point for understanding innovation processes involving several parties and specifically doing so for support organisations that cannot be measured on revenues or profits.

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    What is the role of innovation policy for accomplishing renewal of mature industries in Western economies? Drawing upon an unusually rich dataset spanning 9752 digitized archival documents, we categorize and code decisions taken by policymakers on several levels while also mapping and quantifying the strategic activities of both entrant firms and incumbent monopolists over a decade. Our data concerns two empirical cases from Sweden during the time period 1980–1990: the financial sector and the telecommunications sector. In both industries, a combination of technological and institutional upheaval came into motion during this time period which in turn fueled the revitalization of the Swedish economy in the subsequent decades. Our findings show that Swedish policymakers in both cases consistently acted in order to promote the emergence of more competition and de novo entrant firms at the expense of established monopolies. The paper quantifies and documents this process while also highlighting several enabling conditions. In conclusion, the results indicate that successful innovation policy in mature economies is largely a matter of strategically dealing with resourceful vested interest groups, alignment of expectations, and removing resistance to industrial renewal.

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