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Political Determinants of Corporate GovernancePolitical Context, Corporate Impact$
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Mark J. Roe

Print publication date: 2006

Print ISBN-13: 9780199205301

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199205301.001.0001

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(p.94) Chapter 11 Sweden
Political Determinants of Corporate Governance

Mark J. Joe

Oxford University Press

Sweden, the world's first social democracy, has protected minority stockholders well, but strong ownership concentration persists and ownership has not yet separated from control. Sweden has been one of the world's strongest social democracies, and leading shareholders there often participate in the political-economic settlements that make production run smoothly. The social democracy thesis better explains Swedish results than alternative theories. When technology and scale economies demand very large industrial firms, and when social democratic pressures demand focused ownership but reduce the number of wealthy people, then tools that facilitate control without vast wealth will be demanded.

Keywords:   Sweden, minority stockholders, social control, social democracy, ownership concentrate

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