Donation strengthens research in industrial foundation governance
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Industrial foundations play an important role in Danish society. Foundation-owned companies such as Carlsberg, Danfoss and Novo Nordisk account for more than half of the traded equities on the Copenhagen Stock Exchange. It is rather unique that foundation-owned companies have such great impact on a country’s finances as they do in Denmark. For this reason, it is important to ensure qualified research and education in this area, so in this context this donation is crucial, says Søren Hvidkjær, Dean of Research at CBS.
“This is an important donation from the Novo Nordisk Foundation, which helps to create solid factual knowledge about governance of industrial foundations and long-term ownership of companies. This significant donation will help to maintain CBS’ leading research position in the area, and we are extremely grateful for the donation”, says Dean of Research Søren Hvidkjær.
The Novo Nordisk Foundation contributes DKK 10m. CBS will supplement with DKK 5m for an overall budget of DKK 15m for the professorship spread over the next 5 years. According to the Novo Nordisk Foundation, the purpose of this donation is to facilitate research and teaching in industrial foundation governance at the highest international level and through dissemination activities contribute to increasing public knowledge about the foundation model - nationally and internationally.
Some of the researchable areas are: Challenges and possibilities associated with the governance of industrial foundations, active ownership, continuity vs. innovation on the board and in management, and the balance between commercial activities and charity.
The professorship will be attached to CBS’ Center for Corporate Governance, where research in industrial foundations is a central research area.
“Through more than a decade, we have built knowledge on industrial foundations. This donation means that we can keep building on this knowledge in the years to come. The professorship will help recruit and develop the next generation of researchers and also contribute to building a sustainable research environment at CBS, says Director of Center Lars Christian Ohnemus.
CBS has initiated the recruitment of a professor and expects to fill this position in summer 2018.
Further information
Lars Christian Ohnemus, Center for Corporate Governance, CBS, tel.: 5124 1875, lco.int@cbs.dk
Christian Mostrup Scheel, Senior Press Officer, Novo Nordisk Foundation, tel.: +45 3067 4805, cims@novo.dk