Table of Contents

Corporate Governance in Modern Financial Capitalism

Corporate Governance in Modern Financial Capitalism

Old Mutual’s Hostile Takeover of Skandia

Markus Kallifatides, Sophie Nachemson-Ekwall and Sven-Erik Sjöstrand

This insightful book focuses upon corporate governance processes, and explores the conditions required for effective corporate governance and control in 21st century globalized and financialized economies. In presenting a comprehensive study of a cross-border hostile corporate take-over process, describing the actors, institutions and events involved, this book examines and questions the current forms of corporate governance and control – both from a national and a global perspective. Using Old Mutual’s takeover of Skandia as a case study, the authors address corporate governance theory, and highlight its two fundamental dimensions: financial and operational flows.

Methodological Note

Markus Kallifatides, Sophie Nachemson-Ekwall and Sven-Erik Sjöstrand

Subjects: business and management, corporate governance, strategic management, economics and finance, corporate governance, financial economics and regulation, law - academic, corporate law and governance

Extract

The legitimacy of this and any other extensive case study rests on the assumption that one such single investigation can be used to provide evidence of social phenomena of a more general importance.1 It also rests on the unique quality of the case-study format to convey an understanding of such general phenomena through their instantiations in a particular case, and the opportunity it might present to develop or revise connections between established as well as emerging – or even novel – explanatory concepts, often then formulated as empirically based theories. We claim that Chapters 3–21 in this book contain such an empirical foundation.2 Therefore some notes are warranted regarding the ways in which our materials have been co-produced by us and by others, and then further interpreted by us with the aid of yet others. This methodological note is brief for two reasons: this project has no ambition to make a significant methodological contribution; and our choice of methods and techniques is basically rather traditional, given the case-study format. As in most extensive case studies, the credibility of the empirical material presented (the story) rests on both how the material was produced (see below), and how it has been presented (clarity, internal consistency, accuracy etc.). The basic idea with this study was described in Chapter 1: ‘The theoretical purpose is to try to improve socioeconomic theories addressing corporate control and corporate governance, and the empirical ambition is to provide an extensive case study of a hostile cross-border takeover process that helps...

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