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Wiberg, Daniel
Publications (10 of 33) Show all publications
Palmberg, J., Eklund, J. & Wiberg, D. (2010). Family Ownership and Return on Investments: Founders, Heirs and External Managers.
Open this publication in new window or tab >>Family Ownership and Return on Investments: Founders, Heirs and External Managers
2010 (English)Report (Other academic)
Abstract [en]

This paper investigates how family ownership, control and management affect firm investment performance. We use the identity of the CEO and the COB to establish under what management the firm is: founder, descendent or external management. The analysis shows that founder management has no effect on investment performance in family firms, whereas descendant management has a negative impact on firm performance and having external hired managers significantly improves investment performance. Moreover, we examine the effects of dual-class shares; we find that the separation of voting right from cash-flow right has a negative impact on performance in both family and non-family firms, but the negative effect is larger in family firms.   

Publisher
p. 21
Identifiers
urn:nbn:se:hj:diva-11495 (URN)
Available from: 2010-01-25 Created: 2010-01-25
Wiberg, D. & Nordström, L. (2009). Determinants of Buyouts in Private Equity Firms.
Open this publication in new window or tab >>Determinants of Buyouts in Private Equity Firms
2009 (English)Report (Other (popular science, discussion, etc.))
Publisher
p. 25
Series
CESIS - Centre of Excellence for Science and Innovation Studies in its series Working Paper Series in Economics and Institutions of Innovation ; 207
Identifiers
urn:nbn:se:hj:diva-11489 (URN)
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2010-01-26Bibliographically approved
Högberg, A. & Wiberg, D. (2009). Firm performance in Scandinavia and South East Asia.
Open this publication in new window or tab >>Firm performance in Scandinavia and South East Asia
2009 (English)Report (Other academic)
Abstract [en]

Previous studies have shown that differences in corporate governance systems, traditions, and both formal and informal institutions appear to correlate with firm performance. It has been suggested that Scandinavia and South East Asia have similar ownership structures with vote differential shares, pyramids and strong family ownership. However, the regions have different legal traditions and hence formal institutions, and also informal institutions. This paper presents a detailed overview of firm performance for a sample of listed firms in Scandinavia (represented by Denmark, Finland, Norway and Sweden) and South East Asia (represented by Malaysia, Thailand, Hong Kong, Taiwan and South Korea). Firm performance is estimated using both the Marginal q-approach and the Tobin’s Q on an unbalanced dataset from 1998 to 2006.

Publisher
p. 25
Keywords
Ownership, investment, firm performance
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-11350 (URN)
Note
Working paper series, CESISAvailable from: 2010-01-19 Created: 2010-01-19 Last updated: 2010-01-19Bibliographically approved
Wiberg, D. (2009). Institutional Ownership and Dividends. In: Bjuggren, P-O., and Mueller D. C. (Ed.), The Modern Firm, Corporate Governance and Investment (pp. 225-252). Cheltenham: Edward Elgar
Open this publication in new window or tab >>Institutional Ownership and Dividends
2009 (English)In: The Modern Firm, Corporate Governance and Investment / [ed] Bjuggren, P-O., and Mueller D. C., Cheltenham: Edward Elgar , 2009, p. 225-252Chapter in book (Other (popular science, discussion, etc.))
Place, publisher, year, edition, pages
Cheltenham: Edward Elgar, 2009
Series
New perspectives on the modern corporation
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-11476 (URN)9781848442252 (ISBN)
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2010-03-11Bibliographically approved
Wiberg, D. & Eklund, J. E. (2009). Institutional Ownership and the Return on Investment. In: : . Paper presented at Corporate Governance Workshop, European Corporate Governance and Investment Network, Copenhagen, Denmark, CBS, 2009.
Open this publication in new window or tab >>Institutional Ownership and the Return on Investment
2009 (English)Conference paper, Published paper (Refereed)
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-11487 (URN)
Conference
Corporate Governance Workshop, European Corporate Governance and Investment Network, Copenhagen, Denmark, CBS, 2009
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2013-11-06Bibliographically approved
Eklund, J., Palmberg, J. & Wiberg, D. (2009). Ownership Structure, Board Composition and Investment Performance. Stockholm: Royal Institute of Technology, CESIS
Open this publication in new window or tab >>Ownership Structure, Board Composition and Investment Performance
2009 (English)Report (Other (popular science, discussion, etc.))
Abstract [en]

In this paper the relation between ownership structure, board composition and firm performance is explored. A panel of Swedish listed firms is used to investigate how board composition affects firm performance. Board heterogeneity is measured as board size, age and gender diversity. The results show that Swedish board of directors have become more diversified in terms of gender. Also, fewer firms have the CEO on the board which can be interpreted as a sign of increased independency. The regression analysis shows that gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. The analysis also show that board size has a significant negative effect on investment performance. When incorporating all the explanatory variables into one equation however, the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.

Place, publisher, year, edition, pages
Stockholm: Royal Institute of Technology, CESIS, 2009. p. 28
Series
Working Paper Series in Economics and Institutions of Innovation, CESIS ; 172
Identifiers
urn:nbn:se:hj:diva-11483 (URN)
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2010-03-17Bibliographically approved
Palmberg, J., Eklund, J. & Wiberg, D. (2009). Ownership Structure, Board Composition and Investment Performance. Corporate Ownership and Control, 7(1), 117-127
Open this publication in new window or tab >>Ownership Structure, Board Composition and Investment Performance
2009 (English)In: Corporate Ownership and Control, ISSN 1727-9232, Vol. 7, no 1, p. 117-127Article in journal (Refereed) Published
Abstract [en]

This paper explores the relation between ownership structure, board composition and firm performance among Swedish listed firms. The descriptive statistics show that Swedish board of directors have become more diversified in terms of gender. The analysis show that board size has a significant negative effect on investment performance. Gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. When incorporating all the explanatory variables into the same equation the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.

Place, publisher, year, edition, pages
Ukraine: Virtus Interpress, 2009
Keywords
Corporate Governance, Board Composition, Investment performance, Marginal q
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-11491 (URN)
Available from: 2010-01-26 Created: 2010-01-25 Last updated: 2010-03-17Bibliographically approved
Palmberg, J., Eklund, J. & Wiberg, D. (2009). Ownership Structure, Board Composition and Investments Performance. In: : . Paper presented at 36th Annual Conference of the European Association for Research in Industrial Economics (EARIE), 3-5 September 2009, Ljubljana, Slovenia.
Open this publication in new window or tab >>Ownership Structure, Board Composition and Investments Performance
2009 (English)Conference paper, Published paper (Refereed)
Abstract [en]

In this paper the relation between ownership structure, board composition and firm performance is explored. A panel of Swedish listed firms is used to investigate how board composition affects firm performance. Board heterogeneity is measured as board size, age and gender diversity. The results show that Swedish board of directors have become more diversified in terms of gender. Also, fewer firms have the CEO on the board which can be interpreted as a sign of increased independency. The regression analysis shows that gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. The analysis also show that board size has a significant negative effect on investment performance. When incorporating all the explanatory variables into one equation however, the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.

National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-11485 (URN)
Conference
36th Annual Conference of the European Association for Research in Industrial Economics (EARIE), 3-5 September 2009, Ljubljana, Slovenia
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2013-11-06Bibliographically approved
Bjuggren, P.-O. & Wiberg, D. (2009). Ownership, Succession and Entrepreneurship in an Aging Society: Is There a Transition Problem?. In: Charlie Karlsson, Börje Johansson & Roger R. Stough (Ed.), Innovation, Agglomeration and Regional Competition (pp. 57-76). Cheltenham: Edward Elgar
Open this publication in new window or tab >>Ownership, Succession and Entrepreneurship in an Aging Society: Is There a Transition Problem?
2009 (English)In: Innovation, Agglomeration and Regional Competition / [ed] Charlie Karlsson, Börje Johansson & Roger R. Stough, Cheltenham: Edward Elgar , 2009, p. 57-76Chapter in book (Other academic)
Place, publisher, year, edition, pages
Cheltenham: Edward Elgar, 2009
Series
New horizons in regional science
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-2478 (URN)1-84542-526-X (ISBN)
Available from: 2007-06-12 Created: 2007-06-12 Last updated: 2010-03-15Bibliographically approved
Wiberg, D. & Eklund, J. E. (2009). Persistence of profits and the systematic search for knowledge: R&D and profits above the norm. Stockholm: Royal Institute of Technology, CESIS
Open this publication in new window or tab >>Persistence of profits and the systematic search for knowledge: R&D and profits above the norm
2009 (English)Report (Other academic)
Place, publisher, year, edition, pages
Stockholm: Royal Institute of Technology, CESIS, 2009. p. 17
Series
Working Paper Series in Economics and Institutions of Innovation, CESIS ; 161
Identifiers
urn:nbn:se:hj:diva-11484 (URN)
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2010-03-17Bibliographically approved
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