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Larsson Olaison, UlfORCID iD iconorcid.org/0000-0003-4961-1569
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Publications (10 of 24) Show all publications
Larsson Olaison, U. (2019). Convergence of corporate governance systems: a legal transplant perspective. Competition & change, 1-21
Open this publication in new window or tab >>Convergence of corporate governance systems: a legal transplant perspective
2019 (English)In: Competition & change, ISSN 1024-5294, E-ISSN 1477-2221, p. 1-21Article in journal (Refereed) Epub ahead of print
Abstract [en]

The predominant approaches to comparative corporate governance view legal transfers dichotomously, seeing corporate governance systems as either converging or diverging as a result of legal reform. Drawing on legal studies, this paper proposes an alternative model using the metaphor of the staircase to conceptualize how legal transplants can meet different evaluation criteria before being considered ‘successful’. The model is empirically illustrated by the introduction of the Swedish Corporate Governance Code. It is found that different corporate governance rules when transplanted could be said to meet evaluation criteria more or less strictly. This finding has implications for our empirical and theoretical understanding of how corporate governance systems converge.

Place, publisher, year, edition, pages
Sage Publications, 2019
Keywords
Convergence, Divergence, Legal transplant, Comparative corporate governance, Corporate governance code
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-79421 (URN)10.1177/1024529418800592 (DOI)
Available from: 2019-01-10 Created: 2019-01-10 Last updated: 2019-12-06
Jonnergård, K. & Larsson Olaison, U. (2018). Doxa of shareholders and owners: on the threshold of financialization. Accounting, Economics, and Law: A Convivium, 8(3), Article ID 20160011.
Open this publication in new window or tab >>Doxa of shareholders and owners: on the threshold of financialization
2018 (English)In: Accounting, Economics, and Law: A Convivium, ISSN 2194-6051, E-ISSN 2152-2820, Vol. 8, no 3, article id 20160011Article in journal (Refereed) Published
Abstract [en]

Following financialization, there has emerged an understanding of what it implies to be a shareholder based on the shareholder value perception. However, as this shareholder value perception spreads internationally, it clashes with traditional perceptions. In this paper, we apply the language developed by Bourdieu to a Swedish public debate on equal treatment of shareholders in connection with the reform of the Swedish market for corporate control. Using Bourdieu’s conceptual framework, we describe how a global development interacts with the persistence of national practices. We conclude that in Sweden, local institutional investors have allied themselves with international institutional investors to enhance their positions in the restricted field of Swedish corporate control. Shareholder value is then used by these local actors as an argument to strengthen their position. At the same time, some of the controlling shareholders depart from their traditional position as industrial entrepreneurs and embrace a more financial approach to ownership, thereby altering both the power constellations and the capital, in Bourdieu’s sense, of the field.

Place, publisher, year, edition, pages
Walter de Gruyter, 2018
Keywords
Shareholder value, Financialization, Corporate governance, Sweden, Market for corporate control
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-69063 (URN)10.1515/ael-2016-0011 (DOI)000451097600004 ()2-s2.0-85058519275 (Scopus ID)
Funder
The Jan Wallander and Tom Hedelius Foundation, P007-0144:1
Available from: 2017-12-01 Created: 2017-12-01 Last updated: 2019-08-29Bibliographically approved
Weber, F. & Larsson Olaison, U. (2017). Corporate social responsibility accounting for arising issues. Journal of Communication Management, 21(4), 370-383
Open this publication in new window or tab >>Corporate social responsibility accounting for arising issues
2017 (English)In: Journal of Communication Management, ISSN 1363-254X, E-ISSN 1478-0852, Vol. 21, no 4, p. 370-383Article in journal (Refereed) Published
Abstract [en]

Purpose

Arising societal issues challenge corporate social responsibility. The purpose of this paper is to analyze how corporations account for arising issues under different institutional settings: the stakeholder oriented corporate governance model of Germany is hypothesized to produce a different response than the more state dominated Swedish welfare model.

Design/methodology/approach

This paper takes the reported CSR response of the largest corporations in Germany and Sweden, in relation to the 2015 European refugee crisis, as its case. In total, 157 annual reports are investigated by means of text analysis for statements in relation to the European refugee crisis.

Findings

Empirically, German corporations are more prone to communicate on this emerging issue, and deploying corporate resources to an emerging societal crisis. Based on that finding, this study concludes that the German model is more in line with international CSR-discourse than the Swedish.

Research limitations/implications

This study has implications for institutional theory perspectives on CSR accounting-related issues. By comparing two economies that would be characterized as “coordinated market economies” a somewhat different set of topics becomes apparent. Further considering country context could be useful when expanding the debate on CSR accounting.

Originality/value

This study is the first to empirically investigate corporate diplomacy with regard to the European refugee crisis. Besides others, corporations are important societal players. Therefore, corporations bear both, the obligation to deal with arising issues and the potential to participate in public opinion-forming with regard to those issues.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2017
Keywords
Research, Corporate communication, Community relations, Methodology, CSR, Issues management, Agenda-setting, Corporate social responsibility
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-69067 (URN)10.1108/JCOM-02-2017-0028 (DOI)000414711500005 ()2-s2.0-85049154896 (Scopus ID)
Available from: 2017-12-01 Created: 2017-12-01 Last updated: 2019-08-29Bibliographically approved
Jonnergård, K., Larsson Olaison, U. & Stafsudd, A. (2017). Established forms of worker voice and the wind of change: between corporate governance and industrial relations. In: Presented at the 33rd EGOS Colloquium, Copenhagen, Denmark, July 6-8, 2017: . Paper presented at 33rd EGOS Colloquium, Copenhagen, Denmark, July 6-8, 2017.
Open this publication in new window or tab >>Established forms of worker voice and the wind of change: between corporate governance and industrial relations
2017 (English)In: Presented at the 33rd EGOS Colloquium, Copenhagen, Denmark, July 6-8, 2017, 2017Conference paper, Oral presentation only (Refereed)
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-64040 (URN)
Conference
33rd EGOS Colloquium, Copenhagen, Denmark, July 6-8, 2017
Available from: 2017-05-21 Created: 2017-05-21 Last updated: 2017-10-02Bibliographically approved
Larsson Olaison, U. & Jansson, A. (2017). Shareholder primacy and shareholder prominence: Swedish corporate law and the corporate purpose 1848-2005. In: Presented at the 4th WINIR Conference, Utrecht, The Netherlands, September 14-17, 2017: . Paper presented at 4th WINIR Conference, Utrecht, The Netherlands, September 14-17, 2017.
Open this publication in new window or tab >>Shareholder primacy and shareholder prominence: Swedish corporate law and the corporate purpose 1848-2005
2017 (English)In: Presented at the 4th WINIR Conference, Utrecht, The Netherlands, September 14-17, 2017, 2017Conference paper, Oral presentation with published abstract (Refereed)
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-70805 (URN)
Conference
4th WINIR Conference, Utrecht, The Netherlands, September 14-17, 2017
Available from: 2018-02-13 Created: 2018-02-13 Last updated: 2018-02-28Bibliographically approved
Jonnergård, K., Larsson Olaison, U. & Stafsudd, A. (2016). From Radical Left to Shareholder Value: a Longitudinal Comparison of Employee- and Owner-Elected Representatives’ Perceptions. In: Presented at the 28th SASE Annual Meeting, Berkeley, USA, June 24-26, 2016: . Paper presented at 28th SASE Annual Meeting, Berkeley, USA, June 24-26, 2016.
Open this publication in new window or tab >>From Radical Left to Shareholder Value: a Longitudinal Comparison of Employee- and Owner-Elected Representatives’ Perceptions
2016 (English)In: Presented at the 28th SASE Annual Meeting, Berkeley, USA, June 24-26, 2016, 2016Conference paper, Oral presentation only (Refereed)
National Category
Sociology (excluding Social Work, Social Psychology and Social Anthropology)
Research subject
Economy
Identifiers
urn:nbn:se:lnu:diva-64041 (URN)
Conference
28th SASE Annual Meeting, Berkeley, USA, June 24-26, 2016
Available from: 2017-05-21 Created: 2017-05-21 Last updated: 2017-06-30Bibliographically approved
Jonnergård, K. & Larsson Olaison, U. (2016). Stubborn Swedes: the Persistence of the Swedish Corporate Governance System under International Reform. Nordic Journal of Business, 65(1), 13-28
Open this publication in new window or tab >>Stubborn Swedes: the Persistence of the Swedish Corporate Governance System under International Reform
2016 (English)In: Nordic Journal of Business, ISSN 2342-9003, Vol. 65, no 1, p. 13-28Article in journal (Refereed) Published
Abstract [en]

Despite a number of corporate governance reforms introduced following an Anglo-American blueprint, the Swedish corporate governance system still contains several country-specific traits. In this article, we try to understand this continuity of the national corporate governance system. We do this by outlining a model for describing the processes of change built on Mary Douglas’ (1986) theory of ‘institutional thinking’ and applying this model to a case of the implementation of regulation on independent directors in Sweden. The results highlight (i) that continuity is ensured through the use of ‘sacred objects’ and (ii) that compromises between the old and the new is made possible by the uses of concepts with ‘positive connotations’. Hereby a form of assimilation to the international blueprint occurs which may – or may not – lead to convergence in the long run.

Place, publisher, year, edition, pages
Association of Business Schools Finland, 2016
National Category
Economics and Business
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-51781 (URN)
Funder
The Jan Wallander and Tom Hedelius Foundation, P2011-0176:1
Note

This is a much developed version of a chapter published in Larsson-Olaison (2014) Convergence of National Corporate Governance Systems: Localizing and Fitting the Transplants, Linnaeus University Press, Växjö. The authors also acknowledge the helpful comments from Steen Thomsen (the guest editor) and the anonymous reviewers. Financial support from Jan Wallander and Tom Hedelius Research Foundation, grant no: P2011-0176:1, is also acknowledged.

Available from: 2016-03-31 Created: 2016-03-31 Last updated: 2016-07-01Bibliographically approved
Jansson, A., Larsson Olaison, U., Veldman, J. & Beverungen, A. (2016). The political economy of corporate governance: editorial. Ephemera : Theory and Politics in Organization, 16(1)
Open this publication in new window or tab >>The political economy of corporate governance: editorial
2016 (English)In: Ephemera : Theory and Politics in Organization, ISSN 2052-1499, E-ISSN 1473-2866, Vol. 16, no 1Article in journal, Editorial material (Other academic) Published
Keywords
Corporate governance, Corporations, Political economy, Shareholder value, Financialization
National Category
Economics and Business
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-51786 (URN)
Available from: 2016-03-31 Created: 2016-03-31 Last updated: 2017-11-30Bibliographically approved
Jansson, A., Jonnergård, K. & Larsson Olaison, U. (2015). Corporate governance and ideology: a missing part of the puzzle. In: : . Paper presented at SASE 27th annual conference, London, UK, July 2-4, 2015.
Open this publication in new window or tab >>Corporate governance and ideology: a missing part of the puzzle
2015 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

A question that has been asked repeatedly in corporate governance research the last two decades is ‘why does not ownership of listed corporations disperse in large parts of the world?’ Roe (2001) claimed that the reason that ownership did not disperse in large parts of Europe was social democracy, thus leaning towards ideology as a factor determining the conditions for corporate governance. In this paper it is argued that Roe was not wrong in principle; certainly, social democracy could explain the organization of many European nations, however not the business society in these countries. What distinguish social democracy from socialism (as historically found in eastern and central Europe) is that business society was partly left to itself, thus the ideology explaining corporate governance is more likely the ideology of the business society itself, rather than that of the surrounding society. In this paper it is argued that conservatism is the ideology of European corporate governance, an ideology that favor concentration of ownership, and thus power, in contrast to the market liberal ideology of the Anglo-American corporate governance systems that has produced ownership dispersion.

In this paper we develop and test this thesis using cases from the country perhaps most associated with social democratic thinking, while simultaneously tolerating one the most unequal distribution of power in business society (Högfeldt, 2004): i.e. Sweden. The ownership structure in Sweden is built on ownership concentrated into the hands of a few families and inherited power. In this paper we test whether this structure is supported by the Swedish society through the outcome of regulation. The cases are explored by discourse analysis addressing how parallel corporate governance scandals are portrayed, as well as an analysis of the material outcome of the scandals, i.e. the regulation. The first case is from the mid-1980, when the two major scandals in Swedish business society were LEO and Fermenta, with the material regulatory outcome of the LEO-law. The second case is from the early 2000, with major scandals in ABB and Skandia, leading to the Swedish corporate governance code. The aim is to through the discourse analysis (i) build a conceptual framework of how to access corporate governance ideologies and (ii) convey the type of ideology underlying regulation in the Swedish business society in order to (iii) contribute to our understanding of the importance and materialization of ideology in corporate governance.

National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-61581 (URN)
Conference
SASE 27th annual conference, London, UK, July 2-4, 2015
Available from: 2017-03-21 Created: 2017-03-21 Last updated: 2017-04-11Bibliographically approved
Jansson, A. & Larsson Olaison, U. (2015). I Heard it through the Grapevine: Market Control of Controlling Family Shareholders. Corporate governance: An International Review, 23(6), 504-518
Open this publication in new window or tab >>I Heard it through the Grapevine: Market Control of Controlling Family Shareholders
2015 (English)In: Corporate governance: An International Review, ISSN 0964-8410, E-ISSN 1467-8683, Vol. 23, no 6, p. 504-518Article in journal (Refereed) Published
Abstract [en]

Manuscript Type Empirical

Research Question/Issue This paper addresses the issue of whether controlling family shareholders are exposed to market control. The paper advances the theory that the expected performance of controlling shareholders, inferred from their track records, is constantly reflected in the market value of controlled firms.

Research Findings/Insights By using event-study methodology, we show that unexpected acts that are detrimental to minority shareholder interests performed by controlling family shareholders lead to short-term negative abnormal returns in firms that otherwise are completely unaffected by the detrimental acts, but are controlled by the same family-based business group.

Theoretical/Academic Implications The results shed new light on the significance of track records in corporate governance that have implications for research on informal corporate governance mechanisms, governance of family firms, and, possibly, comparative corporate governance. The results also have tentative implications for the understanding of the function of family-controlled business groups consisting of industrially unrelated firms by suggesting a function that has heretofore been neglected.

Practitioner/Policy Implications The results have implications for reform work in corporate governance by showing that practitioners and regulators must consider variability in non-legal corporate governance mechanisms when analyzing and attempting to change different national corporate governance systems to achieve desired effects.

Place, publisher, year, edition, pages
John Wiley & Sons, 2015
National Category
Business Administration
Research subject
Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-45514 (URN)10.1111/corg.12124 (DOI)000364509500004 ()2-s2.0-84947047505 (Scopus ID)
Available from: 2015-07-19 Created: 2015-07-19 Last updated: 2017-12-04Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0003-4961-1569

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