Publications
NIBIOs employees contribute to several hundred scientific articles and research reports every year. You can browse or search in our collection which contains references and links to these publications as well as other research and dissemination activities. The collection is continously updated with new and historical material.
2017
Abstract
No abstract has been registered
Abstract
No abstract has been registered
Abstract
No abstract has been registered
Abstract
This study deals with the composition of corporate boards and examines the impact of independent (outside) and inside directors. We analyze the effect of independent and representative board members on firm performance and shareholder protection. Overseeing the CEO to ensure value maximization is one of the key functions of boards. Hence, boards appear as a protective mechanism that protects shareholder rights. With this reasoning regulators promote independent directors at boardrooms. The literature corroborates the notion that independent directors are instrumental in mitigating agency problems. At the same time, increasing worker representation has been considered as a mechanism to contain, or balance the power of controlling shareholders for big companies. In Norway, employee representation in boards has been promoted by the legislation long before. Employee representatives have insider information about the companies and leaves little room for executives to mislead the board. For companies that adopt the gender balance law, and change their boards, we look at the impact of outsiders. We take the insiders into consideration by controlling for the board ownership, and use the incremental effect of female additions to the board as variable capturing the outsider impact. We examine the explanatory power of outsiders at board over the value and tax returns of the company. Conversely, we try to see how the employee representatives are related with firm fundamentals. For the companies that change their organizational form, we gauge the differential impact of employee representation when we control for other factors. The key posits are that employee representatives can protect employee rights, alleviate layoffs, and moderate the executive pay. This view has found audience among policy makers recently. Preliminary results demonstrate that increasing outside and independent directors have a positive effect on the firm value. Furthermore, independent board directors are essential in promoting efficient outcomes. Further, they are instrumental in returning the value to shareholders, limiting the executive compensation, and curbing the relative tax burden.
Abstract
No abstract has been registered
Abstract
No abstract has been registered
Abstract
No abstract has been registered
Abstract
No abstract has been registered
Authors
Lampros LamprinakisAbstract
Organizational development, change and adaptation are complex and challenging tasks that have been widely studied and debated, spanning from general change models and theories on organizational change, to change management theory and strategy literature. Even though issues surrounding organizational change have been extensively studied, the estimated success rates remain particularly low, thus keeping this kind of studies high in the research agenda. This article examines organizational change and adaptation in the context of institutional change. More specifically, the article examines the case of Valio, the biggest Finnish dairy company, and its reorganization and restructuring during the period surrounding Finland’s assessment to the EU in 1995. Valio’s case is particularly interesting since it involves a well-established “national institution”, with rich history and significant economic contribution to the national economy. The purpose of this paper is to explore how Valio’s managers perceived the organizational change efforts surrounding the period of EU accession and what change practices were followed. In doing so, the analysis adopts the comprehensive qualitative case study methodology having a descriptive and explorative approach. This approach involves several in-depth interviews with key Valio executives, stakeholders, and industry insiders. The analysis maps and identifies key themes and processes that characterized the change strategy and allowed for the successful organizational change.
Authors
Lampros LamprinakisAbstract
No abstract has been registered