George Hopkins Apr 16, 2015:

Chris S I only ever heard of one person who was never wrong, and they say he was nailed to a cross...

brigidm (asker) Apr 16, 2015:

:-) ;-)

Christopher Schröder Apr 16, 2015:

No, Brigid, the Swedish forum just has a couple of participants who are never wrong ;-)

brigidm (asker) Apr 15, 2015:

../ "Det är alltså tydligt att den förväntade utvecklingen beträffande ägande,
finansieringsstruktur, företagens storleksfördelning och näringsstruktur ägde rum. Åtgärderna för att motverka enskild förmögenhetsackumulation och förhindra hushållens aktieägande resulterade emellertid inte i mindre ägarkontroll eller ökad tendens till tjänstemannakontroll (Berle och Means, 1932)."

" In the tradition of Thomas Jefferson, Berle and Means warned that the ascendance of management control and unchecked corporate power had potentially serious consequences for the democratic character of the United States.

Berle and Means revisited: The governance and power of large U.S. corporations - ResearchGate. Available from: http://www.researchgate.net/publication/30844423_Berle_and_M... [accessed Apr 15, 2015]."

brigidm (asker) Apr 15, 2015:

I appear to have stirred up a hornet's nest... Are all the discussions in the Swe-Eng group this lively? Anyway, I just want to thank everyone for their contributions and to add a few brief references/notes for future reference before grading and closing.

"Investor was foudned by the Wllenberg-controlled Stockholms Enskilda Bank (today SEB) which Industrivärden, the other leading holding company (CEIF), was founded by the management-controlled Svenska Handelsbanken (SHB)."
https://books.google.no/books?id=X6knIE-47BAC&pg=PA527&lpg=P...

"Roe hävdar att ett spritt ägande med tjänstemannastyrda företag kräver starka
incitamentsprogram för att få företagsledningens intressen att sammanfalla med
aktieägarnas."

continued/..

George Hopkins Apr 15, 2015:

Deane No matter; by whatever means a business is controlled by management -- directly, by proxy, by a nod and wink, by silent agreement. Management controls the business and is held responsible. Shareholders disappear with the stroke of a pen or the push of a button.

Deane Goltermann Apr 15, 2015:

@George, your latest. Just for the record...

The strictly legal relationship is that the ultimate control of every company lies with the shareholders. So technically, company managers have no 'control', they are supposed to simply be doing the bidding of the company shareholders (or following their instructions). Everyone who has translated an AR has done that statement. As my reference indicates, a common phenomenon is that shareholder control becomes so diffuse that company managers 'usurp' that ultimated control and steer the business as they want with no oversight. In the real world, this phenomenon is commonly described as 'manager/management control', as the asker seems to have determined (and as so eloquently seconded by Charles in his agree). The Swe term refers to that phenomenon as it has occurred in specific examples here in country.

As to who is better at running these companies, is another issue altogether, IMHO.

George Hopkins Apr 15, 2015:

Re 'Management controlled' Suggested as an answer. Every business is 'management controlled' in one way or another.

Christopher Schröder Apr 15, 2015:

Don't shoot the messenger Google it

George Hopkins Apr 14, 2015:

I don't believe it A family-run business can very well be professional...

Christopher Schröder Apr 14, 2015:

The opposite of family run is professional(ly) run

Charles Ek Apr 14, 2015:

Sorry, but SCA's employee ownership share is minuscule : http://www.sca.com/sv/Investerare/SCA-aktien/Agarforhallande...

Donald Jacobson Apr 14, 2015:

Many of these in the U.S.:Why Employee-Owned Businesses Work - US News
www.usnews.com/.../why-employee-own...
Mobile-friendly - Nov 7, 2013 - We Need More Employee-Owned Businesses. It's good news that worker-owned businesses are on ...