Explaining Nordic Corporate Governance: A Political Narrative

30 Pages Posted: 18 Mar 2016

Date Written: June 1, 2014

Abstract

Nordic corporate governance models have been subject to increasing interest in the international corporate governance debate. Concentrated ownership combined with reportedly low private benefits of control has been seen as a competitive model of governance. The low levels of private benefits in the Nordics have been explained as the result of the non-pecuniary nature of control benefits and social norms characteristic to the Nordic environment. However, the effects of the political environment on the corporate governance framework should not be underestimated. This paper sets out a political narrative of Nordic corporate governance, and considers the resulting regulatory implications.

Keywords: corporate governance, concentrated ownership, political economy, comparative corporate governance

Suggested Citation

Ilmonen, Klaus, Explaining Nordic Corporate Governance: A Political Narrative (June 1, 2014). Available at SSRN: https://ssrn.com/abstract=2748741 or http://dx.doi.org/10.2139/ssrn.2748741

Klaus Ilmonen (Contact Author)

University of Helsinki ( email )

University of Helsinki
Helsinki, FIN-00014
Finland

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