Abstract
This chapter demonstrates that in Denmark board leaders operate as facilitators, striving for harmony and consensus—and effectiveness at the same time. They are informal, candid and accessible. They encourage everyone to speak their minds with vigour and determination, are not afraid of conflicting views and deal with disagreements in a proactive way. Board chairs work proactively with all stakeholders and, most importantly, shareholders, yet fiercely protect their independence and authority over board matters.
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Notes
- 1.
The World Bank (2018). World Development Indicators. GDP Ranking. Available from: https://datacatalog.worldbank.org/dataset/gdp-ranking [Accessed 28 September 2018].
- 2.
Hansen, J. L and Lønfeldt, C. (2014). Corporate Governance in Denmark. In: P. Lekvall, ed., The Nordic Corporate Governance Model. Stockholm: SNS Förlag, p. 118.
- 3.
Ibid., pp. 118–120.
- 4.
Ibid., p. 129.
- 5.
Ibid.
- 6.
Thomsen, S., Rose, C., and Kronborg, D. (2016). Employee Representation and Board Size in the Nordic Countries. European Journal of Law and Economics, 42(3), pp. 471–490.
- 7.
Ibid., p. 146.
- 8.
Spencer Stuart (2017). Nordic Board Index 2017. Available from: https://www.spencerstuart.com/research-and-insight/nordic-board-index-2017 [Accessed 30 November 2018].
- 9.
Hansen, J. L and Lønfeldt, C. (2014). Corporate Governance in Denmark. In: P. Lekvall, ed., The Nordic Corporate Governance Model. Stockholm: SNS Förlag, p. 152.
- 10.
Simons, T., Pelled, L. H., and Smith, K. A. (1999). Making Use of Difference: Diversity, Debate, and Decision Comprehensiveness in Top Management Teams. Academy of Management Journal, 42(6), pp. 662–673.
- 11.
Schramm-Nielsen, J., Lawrence, P., and Sivesind, K. H. (2004). Management in Scandinavia: Culture, Context and Change. Cheltenham: Edward Elgar.
- 12.
Brodbeck, F.C., Frese, M., and el. (1998). Leader Perceptions in Europe: A 21 Nations Study Based on the GLOBE Project. Paper presented at the 14th EGOS colloquium. Maastricht, The Netherlands.
- 13.
See Danish folk high schools website: http://www.danishfolkhighschools.com [Accessed 3 December 2018].
- 14.
Christensen, S., and Westenholz, A. (1999). Boards of Directors as Strategists in an Enacted World – the Danish Case. Journal of Management and Governance, 3(3), pp. 261–286.
- 15.
Randøy, T., Thomsen, S., and Oxelheim, L. (2006). A Nordic Perspective on Corporate Board Diversity. Available from: http://www.nordicinnovation.org/Global/_Publications/Reports/2006/The%20performance%20effects%20of%20board%20diversity%20in%20Nordic%20Firms.pdf [Accessed 3 December 2018].
- 16.
Lausten, M. (2002). CEO Turnover, Firm Performance and Corporate Governance: Empirical Evidence on Danish Firms. International Journal of Industrial Organization, 20(3), pp. 391–414.
- 17.
Randøy, T., Thomsen, S., and Oxelheim, L. (2006). A Nordic Perspective on Corporate Board Diversity. Available from: http://www.nordicinnovation.org/Global/_Publications/Reports/2006/The%20performance%20effects%20of%20board%20diversity%20in%20Nordic%20Firms.pdf [Accessed 3 December 2018].
- 18.
Jakobsen, M. (2018). Janteloven/Jantelagen (Scandinavia). In: A. Ledeneva, ed., The Global Encyclopedia of Informality. London: UCL Press, pp. 254–259.
- 19.
Stewart, R. (1991). Chairman and Chief Executive: an Exploration of their Relationship. Journal of Management Study, 28 (5), pp. 511–527.
- 20.
Hansen, J. L and Lønfeldt, C. (2014). Corporate Governance in Denmark. In: P. Lekvall, ed., The Nordic Corporate Governance Model. Stockholm: SNS Förlag, p. 145.
- 21.
Higgs, D. (2003). Review of the Role and Effectiveness of Non-Executive Directors. Available from: http://www.ecgi.org/codes/documents/higgs.pdf [Accessed 26 March 2018].
- 22.
Ibid.
References
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Brodbeck, F.C., Frese, M., and el. (1998). Leader Perceptions in Europe: A 21 Nations Study Based on the GLOBE Project. Paper presented at the 14th EGOS colloquium. Maastricht, The Netherlands.
Christensen, S., and Westenholz, A. (1999). Boards of Directors as Strategists in an Enacted World – the Danish Case. Journal of Management and Governance, 3(3), pp. 261–286.
Committee on Corporate Governance. (2013). Recommendations on Corporate Governance. Available from: https://corporategovernance.dk/sites/default/files/recommendations-ebs-12401-rapport-selskabsledelse-uk-5k-nov-2014.pdf [Accessed 3 December 2018].
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Hansen, J. L and Lønfeldt, C. (2014). Corporate Governance in Denmark. In: P. Lekvall, ed., The Nordic Corporate Governance Model. Stockholm: SNS Förlag.
Higgs, D. (2003). Review of the Role and Effectiveness of Non-Executive Directors. Available from: http://www.ecgi.org/codes/documents/higgs.pdf [Accessed 26 March 2018].
Jakobsen, M. (2018). Janteloven/Jantelagen (Scandinavia). In: A. Ledeneva, ed., The Global Encyclopedia of Informality. London: UCL Press, pp. 254–259.
Lausten, M. (2002). CEO Turnover, Firm Performance and Corporate Governance: Empirical Evidence on Danish Firms. International Journal of Industrial Organization, 20(3), pp. 391–414.
Meyer, E. (2014). The Culture Map: Breaking Through the Invisible Boundaries of Global Business. New York: PublicAffairs.
Official Journal of the European Union. (2014). Commission Recommendation of 9 April 2014 on the Quality of Corporate Governance Reporting. Available from: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014H0208 [Accessed 3 December 2018].
Randøy, T., Thomsen, S., and Oxelheim, L. (2006). A Nordic Perspective on Corporate Board Diversity. Available from: http://www.nordicinnovation.org/Global/_Publications/Reports/2006/The%20performance%20effects%20of%20board%20diversity%20in%20Nordic%20Firms.pdf [Accessed 3 December 2018].
Schramm-Nielsen, J., Lawrence, P., and Sivesind, K. H. (2004). Management in Scandinavia: Culture, Context and Change. Cheltenham: Edward Elgar.
Simons, T., Pelled, L. H., and Smith, K. A. (1999). Making Use of Difference: Diversity, Debate, and Decision Comprehensiveness in Top Management Teams. Academy of Management Journal, 42(6), pp. 662–673.
Spencer Stuart. (2017). Nordic Board Index 2017. Available from: https://www.spencerstuart.com/research-and-insight/nordic-board-index-2017 [Accessed 30 November 2018].
Stewart, R. (1991). Chairman and Chief Executive: an Exploration of their Relationship. Journal of Management Study, 28 (5), pp. 511–527.
The World Bank. (2018). World Development Indicators. GDP Ranking. Available from: https://datacatalog.worldbank.org/dataset/gdp-ranking [Accessed 28 September 2018].
Thomsen, S., Rose, C., and Kronborg, D. (2016). Employee Representation and Board Size in the Nordic Countries. European Journal of Law and Economics, 42(3), pp. 471–490.
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Jensen, S.B., Shekshnia, S. (2019). Denmark: Attentive Master of the Boardroom. In: Shekshnia, S., Zagieva, V. (eds) Leading a Board. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-13-3197-8_5
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