Testing the “Old Boysʼ Network”: Diversity and Board Interlocks in Scandinavia
This chapter examines the impact of structural breaks on the governance networks and the social structure known as an old boys’ network in Scandinavia. It outlines the corporate governance systems of Denmark, Norway, and Sweden and analyzes the relationship between board diversity and board ties among listed firms in these countries. The findings indicate that the Scandinavian countries are similar in many respects, affiliated by their strong cohesive welfare states and homogeneous egalitarian social values.
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