This article considers shareholder-based nomination committees as a unique feature of the Nordic corporate governance model. Shareholder-based nomination committees constitute the standard model in Sweden and Norway since the publication of each country’s first national corporate governance code in 2004. The same model has since been implemented in the national codes for Iceland (2009) and Finland (formally 2015 although it was possible to appoint a shareholder-based committee already before). An ongoing study now provides some insights on the effects of this model.
The article serves three purposes. First, it summarizes the development of shareholder-based nomination committees as a standard principle in Nordic corporate governance codes. Second, it explains and compares the most recent guidelines with focus on differences between the Nordic countries. Third, it reviews the ongoing study with regards to research questions and results. Finally, the implications for the Nordic debate are discussed.
The article serves three purposes. First, it summarizes the development of shareholder-based nomination committees as a standard principle in Nordic corporate governance codes. Second, it explains and compares the most recent guidelines with focus on differences between the Nordic countries. Third, it reviews the ongoing study with regards to research questions and results. Finally, the implications for the Nordic debate are discussed.
Sammanfattning
Den här artikeln belyser framväxten av en nordisk särmodell vad gäller valberedningens utpekande och sammansättning. I alla nordiska länder, med undantag för Danmark och med viss nationell variation i övrigt, tillämpas en modell där (företrädesvis större) aktieägare ansvarar för utvärdering och nominering av styrelseledamöter. Denna modell är unik i världen. I Sverige – som var först med att diskutera ägarbaserade valberedningar har modellen, liksom i Norge, funnits i snart två ...