Ratio är ett fristående forskningsinstitut som forskar om företagandets villkor.

08-441 59 00 info@ratio.se

802002-5212

Sveavägen 59 4trp

11359 Stockholm

Bankgiro: 512-6578

Publikationer Evenemang Medarbetare

Populärt

Forskning i korthet

Rapportserie arbetsmarknad

Klimat och miljö

Konkurrenskraft

Detta är Ratio

Verksamhetsberättelse

Stipendium för unga forskare

Sommarassistent på Ratio

Eli F. Heckscher-föreläsning

Vanliga frågor

Integritetspolicy

PublikationWorking paper

Working Paper No. 129. Ownership Structure, Board Composition and Investment Performance

Sammanfattning

In this paper the relation between ownership structure, board composition and firm performance is explored. A panel of Swedish listed firms is used to investigate how board composition affects firm performance. Board heterogeneity is measured as board size, age and gender diversity. The results show that Swedish board of directors have become more diversified in terms of gender. Also, fewer firms have the CEO on the board which can be interpreted as a sign of increased independency. The regression analysis shows that gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. The analysis also show that board size has a significant negative effect on investment performance. When incorporating all the explanatory variables into one equation however, the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.

Related content: Ownership Structure, Board Composition and Investment Performance

Eklund, J., Palmberg J. & Wiberg, D. (2009). Ownership Structure, Board Composition and Investment Performance. Ratio Working Paper No. 129.

Detaljer

Författare: Eklund, J., Palmberg J. & Wiberg, D.
Publiceringsår: 2009
Publicerat i: Ownership Structure, Board Composition and Investment Performance

Liknande innehåll

Artikel (med peer review)

The openness of open innovation in ecosystems

Öberg, C., & Alexander, A.

Publiceringsår

2019

Publicerat i

Journal of Innovation & Knowledge

Sammanfattning

Open innovation has rendered increased interest both in practice and research, and has expanded from dyadic transfers of ideas, to ecosystem levels. Knowledge is at the heart of open innovation, and this paper describes and discusses knowledge-transfer linkages for open innovation. It does so based on a literature review. The paper links together open innovation research with general management research to categorise and discuss linkages among parties in terms of their openness and how they relate to knowledge management. Conclusions indicate that openness needs to be considered in different dimensions that also links to different knowledge management outcomes. The paper’s contribution consists of how it connects open innovation research to the general management literature, and how it builds a practical understanding of how linkages between firms can be categorised to aid firms to consider which mechanisms they may choose and why.

Artikel (med peer review)

The role of innovation metrics in innovation systems

Publiceringsår

2020

Publicerat i

International Journal of Innovation

Sammanfattning

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.

Artikel (med peer review)

A revised perspective on innovation policy for renewal of mature economies – Historical evidence from finance and telecommunications in Sweden 1980–1990

Eriksson, K., Ernkvist, M., Laurell, C., Moodysson, J., Nykvist, R. & Sandström, C.

Publiceringsår

2019

Publicerat i

Technological Forecasting and Social Change

Sammanfattning

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.