Ändra sökning
Länk till posten
Permanent länk

Direktlänk
BETA
Alternativa namn
Publikationer (10 of 58) Visa alla publikationer
Almlöf, H. & Bjuggren, P.-O. (2019). A regulation and transaction cost perspective on the design of corporate law. European Journal of Law and Economics, 47(3), 407-433
Öppna denna publikation i ny flik eller fönster >>A regulation and transaction cost perspective on the design of corporate law
2019 (Engelska)Ingår i: European Journal of Law and Economics, ISSN 0929-1261, E-ISSN 1572-9990, Vol. 47, nr 3, s. 407-433Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

For the corporate business model to be successful, it is important to align the interests of those who control and finance the firm. Corporate law has here an important task to fulfill. It offers a legal framework that can facilitate parties to conclude mutually preferable agreements at low transaction costs. The purpose of this paper is to show how to design corporate law to fulfill this task and apply this knowledge to a Swedish case. A two-dimension model that simultaneously considers both the regulation intensity and the level of default of corporate law is presented. The earlier literature treats these dimensions separately. By adding a transaction cost perspective to our model, we assess different regulatory techniques and examine how the Swedish legislation can be amended to help corporations by offering a standard contract that lowers the transaction costs of contracting. This can be achieved if default rules or standards of opt-out character are combined with other regulatory techniques with lower transaction costs such as opt-in alternatives and menus. We also show how our model can be used in other studies as a tool to analyze the design of legal rules. 

Ort, förlag, år, upplaga, sidor
Springer, 2019
Nyckelord
Contracts, Corporate law, Regulation, Transaction costs
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-44463 (URN)10.1007/s10657-019-09620-x (DOI)000474421000005 ()2-s2.0-85068798427 (Scopus ID)HOA JIBS 2019 (Lokalt ID)HOA JIBS 2019 (Arkivnummer)HOA JIBS 2019 (OAI)
Forskningsfinansiär
Vinnova
Tillgänglig från: 2019-06-13 Skapad: 2019-06-13 Senast uppdaterad: 2019-09-25Bibliografiskt granskad
Bjuggren, P.-O., Nordström, L. & Palmberg, J. (2018). Are female leaders more efficient in family firms than in non-family firms?. Corporate Governance : The International Journal of Effective Board Performance, 18(2), 185-205
Öppna denna publikation i ny flik eller fönster >>Are female leaders more efficient in family firms than in non-family firms?
2018 (Engelska)Ingår i: Corporate Governance : The International Journal of Effective Board Performance, ISSN 1472-0701, E-ISSN 1758-6054, Vol. 18, nr 2, s. 185-205Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

Purpose: The aim of this study is to investigate whether female leaders are more efficient in family firms than in non-family firms.

Design/methodology/approach: This paper uses a unique database of ownership and leadership in private Swedish firms that makes it possible to analyze differences in firm performance due to female leadership in family and non-family firms. The analysis is based on survey data merged with micro-level data on Swedish firms. Only firms with five or more employees are included in the analysis. The sample contains more than 1,000 firms.

Findings: The descriptive statistics show that there are many more male than female corporate leaders. However, the regression analysis indicates that female leadership has a much more positive impact on the performance of family firms than on that for non-family firms, where the effect is ambiguous.

Originality/value: Comparative studies examining the impact of female leadership on firm-level performance in family and non-family firms are rare, and those that exist are most often either qualitative or focused on large, listed firms. By investigating the role of female directors in family and non-family firms, the study adds to the literature on management, corporate governance and family firms. 

Ort, förlag, år, upplaga, sidor
Emerald Group Publishing Limited, 2018
Nyckelord
Company performance, Corporate governance, Family firms, Financial performance, Gender
Nationell ämneskategori
Företagsekonomi
Identifikatorer
urn:nbn:se:hj:diva-39063 (URN)10.1108/CG-01-2017-0017 (DOI)000428074400001 ()2-s2.0-85043455565 (Scopus ID)
Tillgänglig från: 2018-07-19 Skapad: 2018-07-19 Senast uppdaterad: 2019-03-05Bibliografiskt granskad
Bjuggren, P.-O. (2018). ”Specialisering, marknad och företag” bokanmälan av Per Bylund: The Problem of Production: A New Theory of the Firm, Foutledge, 2017 [Review]. Ekonomisk Debatt, 46(4), 83-86
Öppna denna publikation i ny flik eller fönster >>”Specialisering, marknad och företag” bokanmälan av Per Bylund: The Problem of Production: A New Theory of the Firm, Foutledge, 2017
2018 (Svenska)Ingår i: Ekonomisk Debatt, ISSN 0345-2646, Vol. 46, nr 4, s. 83-86Artikel, recension (Övrigt vetenskapligt) Published
Ort, förlag, år, upplaga, sidor
Nationalekonomiska Föreningen, 2018
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-41882 (URN)
Tillgänglig från: 2018-10-23 Skapad: 2018-10-23 Senast uppdaterad: 2018-10-23Bibliografiskt granskad
Bjuggren, P.-O. & Laufer, M. E. (2018). Startups, financing and geography – findings from a survey. In: U. Gråsjö, C. Karlsson, & I. Bernhard (Ed.), Geography, open innovation and entrepreneurship: (pp. 257-284). Cheltenham, UK: Edward Elgar Publishing
Öppna denna publikation i ny flik eller fönster >>Startups, financing and geography – findings from a survey
2018 (Engelska)Ingår i: Geography, open innovation and entrepreneurship / [ed] U. Gråsjö, C. Karlsson, & I. Bernhard, Cheltenham, UK: Edward Elgar Publishing, 2018, s. 257-284Kapitel i bok, del av antologi (Refereegranskat)
Ort, förlag, år, upplaga, sidor
Cheltenham, UK: Edward Elgar Publishing, 2018
Serie
New Horizons in Regional Science series
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-41880 (URN)000456037000010 ()978-1-78643-989-5 (ISBN)978-1-78643-990-1 (ISBN)
Tillgänglig från: 2018-10-23 Skapad: 2018-10-23 Senast uppdaterad: 2019-03-14Bibliografiskt granskad
Bjuggren, P.-O., Domeij, B. & Horn, A. (2017). Swedish Patent Litigation Survey of Small and Medium-sized Enterprises. Nordic Intellectual Property Review (3), 234-248
Öppna denna publikation i ny flik eller fönster >>Swedish Patent Litigation Survey of Small and Medium-sized Enterprises
2017 (Engelska)Ingår i: Nordic Intellectual Property Review, ISSN 0027-6723, nr 3, s. 234-248Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

What are the opinions of small and medium-sized enterprises with experience of Swedish patent litigation? We offer description and analysis from a 2016 inter-view survey of nine small and medium-sized enterprises that had been involved in Swedish patent litigation on infringement and/or invalidity. Our results show that the companies are of the opinion that the proceedings were too slow and costly. They financed the litigation mainly with their own resources. Insur-ance played only a minor role. We also find that the proceedings seem to have affected their position in the market in terms of customers, suppliers and banks. Half the small and medium sized companies after the litigation had a reduced propensity to patent and almost all are less inclined to engage in future Swedish patent litigation.

Ort, förlag, år, upplaga, sidor
Stockholm: Nordiskt Immateriellt Rättsskydd, 2017
Nyckelord
Patent litigation in Sweden
Nationell ämneskategori
Samhällsvetenskap Företagsekonomi
Forskningsämne
Civilrätt
Identifikatorer
urn:nbn:se:hj:diva-38452 (URN)
Projekt
Financing of Innovation, VINNOVA
Forskningsfinansiär
VINNOVA
Tillgänglig från: 2018-01-11 Skapad: 2018-01-11 Senast uppdaterad: 2018-01-23Bibliografiskt granskad
Bjuggren, P.-O., Eklund, J. & Wiberg, D. (2016). Institutional ownership and returns on investment. Corporate Ownership & Control, 13(4Cont3), 419-430
Öppna denna publikation i ny flik eller fönster >>Institutional ownership and returns on investment
2016 (Engelska)Ingår i: Corporate Ownership & Control, ISSN 1727-9232, E-ISSN 1810-3057, Vol. 13, nr 4Cont3, s. 419-430Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper examines how institutional investors influence investment decisions and returns on investment. To measure investment performance, we use marginal q, which measures the ratio of the return on investment to the cost of capital. Institutional owners are found to have a positive but marginally diminishing effect on performance. Our paper uses longitudinal data on Swedish firms from 1999 to 2005; during this period, the ownership structure of Swedish firms underwent dramatic changes as institutional investors increased their ownership shares, while ownership by Swedish households decreased. However, controlling owners - who were often founding families - maintained their control of firms by resorting to extensive use of dual-class shares. This was an important determinant of firm performance that eradicated the positive influence of institutional ownership.

Nyckelord
Corporate Governance, Institutions, Marginal Q, Ownership, Performance, Tobin’s Average Q
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-32126 (URN)2-s2.0-84988378434 (Scopus ID)
Tillgänglig från: 2016-10-28 Skapad: 2016-10-28 Senast uppdaterad: 2018-09-05Bibliografiskt granskad
Bjuggren, P.-O. (2016). Marginal q revisited. Applied Economics, 48(1), 52-58
Öppna denna publikation i ny flik eller fönster >>Marginal q revisited
2016 (Engelska)Ingår i: Applied Economics, ISSN 0003-6846, E-ISSN 1466-4283, Vol. 48, nr 1, s. 52-58Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

Two measures of firm investment behaviour used in the empirical research are Tobin's q (average q) and marginal q. The marginal q is a more recently introduced measure than Tobin's q and is not as well known. This article aims to demonstrate the advantages of using marginal q as a performance measure and is a response to an earlier critical article (Berglund, 2011) claiming an elusiveness bias. The pro arguments made in response are that the claimed elusiveness is not a problem. Furthermore, many of the evaluation problems inherent in the empirical use of Tobin's q, like estimation of replacement cost of assets, can be avoided. From a pure theoretical standpoint, it has long been recognized that marginal q is superior to an average measure of investment behaviour such as Tobin's q.

Nyckelord
Tobin's q, marginal q, investment, assets in place
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-29997 (URN)10.1080/00036846.2015.1073842 (DOI)000364836400006 ()2-s2.0-84947027837 (Scopus ID)
Tillgänglig från: 2016-05-23 Skapad: 2016-05-23 Senast uppdaterad: 2017-11-30Bibliografiskt granskad
Bjuggren, P.-O. (2015). Ingen tillväxt utan tillitsfrämjande lagstiftning: Robert D Cooter och Hans-Bernd Schäfer: Solomon’s Knot: How Law Can End the Poverty of Nations, Princeton University Press, 2012, 344 sidor, 978-0-69114-792-5 [Review]. Ekonomisk Debatt, 43(5), 83-87
Öppna denna publikation i ny flik eller fönster >>Ingen tillväxt utan tillitsfrämjande lagstiftning: Robert D Cooter och Hans-Bernd Schäfer: Solomon’s Knot: How Law Can End the Poverty of Nations, Princeton University Press, 2012, 344 sidor, 978-0-69114-792-5
2015 (Svenska)Ingår i: Ekonomisk Debatt, ISSN 0345-2646, Vol. 43, nr 5, s. 83-87Artikel, recension (Övrig (populärvetenskap, debatt, mm)) Published
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-30000 (URN)
Tillgänglig från: 2016-05-23 Skapad: 2016-05-23 Senast uppdaterad: 2017-11-30Bibliografiskt granskad
Bjuggren, P.-O. & Eklund, J. (2015). Property rights and the cost of capital. European Journal of Law and Economics, 39(3), 523-537
Öppna denna publikation i ny flik eller fönster >>Property rights and the cost of capital
2015 (Engelska)Ingår i: European Journal of Law and Economics, ISSN 0929-1261, E-ISSN 1572-9990, Vol. 39, nr 3, s. 523-537Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

In countries with more secure property rights, the cost of capital is lower, suggesting higher investment rates. Using data from 49 countries we extend the conventional capital-asset pricing model (CAPM) to include a property rights risk-factor. In the conventional CAPM model only a single risk factor—systemic risk—is considered. However, when using a world market portfolio to estimate systemic risk in national portfolios, little of the required rate of return is explained in less developed as compared to more developed countries. Adding a factor representing institutional risk increases predictive power substantially. Further, we find that property rights affect the transmission of information, which suggests that markets price information differently, and allocate resources less efficiently, in countries with less secure property rights. We find that the CAPM model performs better in countries with more secure property rights.

Nyckelord
Asset pricing, International financial markets, Property rights, Cost of capital, Investment
Nationell ämneskategori
Ekonomi och näringsliv
Identifikatorer
urn:nbn:se:hj:diva-20441 (URN)10.1007/s10657-013-9396-x (DOI)000354219500004 ()2-s2.0-84876667655 (Scopus ID)
Tillgänglig från: 2013-01-24 Skapad: 2013-01-24 Senast uppdaterad: 2018-09-05Bibliografiskt granskad
Bjuggren, P.-O., Domeij, B. & Horn, A. (2015). Sverige måste hantera patent snabbare. Svenska Dagbladet, 13 november
Öppna denna publikation i ny flik eller fönster >>Sverige måste hantera patent snabbare
2015 (Svenska)Ingår i: Svenska Dagbladet, Vol. 13 novemberArtikel i tidskrift, Dagstidning (Övrig (populärvetenskap, debatt, mm)) Published
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:hj:diva-37851 (URN)
Tillgänglig från: 2017-11-09 Skapad: 2017-11-09 Senast uppdaterad: 2017-11-09Bibliografiskt granskad
Organisationer
Identifikatorer
ORCID-id: ORCID iD iconorcid.org/0000-0002-0519-2617

Sök vidare i DiVA

Visa alla publikationer