Responsible Ownership through Ownership Strategy

Olaf Sigurjonsson, Thomas Poulsen, Gudrun Jonsdottir

Publikation: Bidrag til bog/antologi/rapportKonferencebidrag i proceedingsForskningpeer review

Abstrakt

A new strand of corporate governance literature on ownership is developing the next generation of the concept of active ownership: responsible ownership. This paper aims to contribute to this strand of literature by addressing an inchoate element of responsible ownership: collective action by owners. We introduce an ownership strategy as a governance mechanism for collective action and responsible ownership and ask how an ownership strategy improves corporate governance. Using data from semi-structured interviews with owner representatives, board members, and non-executive insiders, together with observation and documentary analysis, we find support for the theoretical construction and an answer to the research question. Specifically, we find that the ownership strategy functions as a collaboration pact, which cultivates long-termism, and that the outcome is improved agency, i.e. that both the relationship between owners and directors and between directors and management is improved due to better alignment. The findings indicate that an ownership strategy establishes a much-needed long-term focus and commitment of owners while creating a sense of security and understanding among the members of the board of directors, i.e. that they are working with the will of their owners. As such, it suggests new avenues of research for corporate governance literature.
OriginalsprogEngelsk
TitelEURAM 2020 Online Conference : The Business of Now: The Future Starts Here
Antal sider38
UdgivelsesstedBrussels
ForlagEuropean Academy of Management
Publikationsdato2020
ISBN (Trykt)9782960219524
StatusUdgivet - 2020
BegivenhedThe 20th European Academy of Management Conference (EURAM) 2020: The Business of Now: The Future Starts Here - Online Conference
Varighed: 4 dec. 20206 dec. 2020
Konferencens nummer: 20
https://conferences.euram.academy/2020conference/

Konference

KonferenceThe 20th European Academy of Management Conference (EURAM) 2020
Nummer20
LokationOnline Conference
Periode04/12/202006/12/2020
AndetOnline Conference
Internetadresse
NavnEuram Conference Proceedings
ISSN2466-7498

Bibliografisk note

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Emneord

  • Ownership
  • Ownership strategy
  • Collective action
  • Voice
  • Long-termism
  • Stewardship

Citationsformater