PhD Defence: David Schröder

In order to obtain the PhD degree, David Schröder has submitted his thesis entitled:

Essays on Corporate Governance and Sustainability

This thesis comprises five independent essays, each examining different aspects of corporate governance and sustainability. The first two focus on foundation ownership — a model where nonprofit foundations control for-profit firms. The first essay investigates how this structure shapes corporate sustainability practices. The second explores its economic consequences by comparing financial performance and strategic behavior across foundation-, family-, and investor-owned firms. The third essay introduces the concept of employee slack — personal wealth exceeding private consumption needs — and investigates its impact on firm adaptation and innovation. It draws on comprehensive register data from all Norwegian firms and residents between 2010 and 2017 and leverages the 2014 repeal of the inheritance tax as a quasi-natural experiment. The fourth essay examines how political ideology shapes the making of Environmental and Social (E&S) disclosure rules in the United States, focusing on congressional voting, bill co-sponsorship, and comment letter submissions to the Securities and Exchange Commission. The fifth essay investigates the relation between corporate social responsibility (CSR) and payout policy in European firms.

The thesis will be available from research.cbs.dk

Primary Supervisor:

Professor Steen Thomsen
Department of Accounting
Copenhagen Business School
 
Secondary Supervisor:

Professor Bjørn Jørgensen
Department of Accounting
Copenhagen Business School

Assessment Committee:

Associate Professor Aleksandra Gregoric (Chair)
Department of Accounting
Copenhagen Business School

Professor Fabrizio Ferraro
Department of Strategic Management
IESE Business School

Professor Jörn Block
Business Administration
University of Trier

Date: 24 April 2025
Time: 13:00-15:00
Online: TEAMS

*Please note that the microphone and camera of all spectators must be turned off.

Location: Solbjerg Plads
Room: SPs08 Djøf
Reception: FUHU (third floor above the canteen

*The CBS PhD School will host a reception, which will take place immediately after the defence.