Investigating the effects of multiple-vote share structure on firm value, stock returns and risk management
We examine how Swedish corporate governance, in interaction with multiple-vote share structures, affects value creation and risk management in firms.
Details
- Period: 2025-06-30 – 2028-06-29
- Funder: Handelsbanken's Research Foundations
Description
In October 2024, the EU adopted a directive requiring all member states to allow multiple-vote share structures (EU/2022/0406(COD)). Nowhere else in the EU can the consequences of such structures be studied more thoroughly than in Sweden, and this is the purpose of our research program.
We examine how Swedish corporate governance—particularly ownership type (founders, subsequent generations of founding families, or other long-term private investors)—in interaction with multiple-vote share structures, affects value creation and risk management in firms. The insights generated by the program benefit both European policymakers and investors, for example in their capital allocation decisions.