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Record W1983202764 · doi:10.1108/14720700310474037

The benefits of active ownership

2003· article· en· W1983202764 on OpenAlex

Why this work is in the frame

A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.

aboutThe title or abstract carries a Canadian signal from the geographic lexicon.
no affNo Canadian affiliation: this work is invisible to an affiliation-only frame.
No Canadian affiliation. An affiliation-only frame, the usual design, would never have seen this work. It is one of the works that make the case for inverting the frame.

Bibliographic record

VenueCorporate Governance · 2003
Typearticle
Languageen
FieldBusiness, Management and Accounting
TopicPrivate Equity and Venture Capital
Canadian institutionsnot available
Fundersnot available
KeywordsShareholderAccountingReputationCorporate governanceInstitutional investorBusinessPensionFinanceLawPolitical science

Abstract

fetched live from OpenAlex

In both Britain and the USA, the majority of the shares in quoted companies are owned by institutional shareholders such as pension funds and insurance companies. But, in most cases these major shareholders are “passive”, that is they prefer not to become involved in the management of the companies in which they invest – unless there is a crisis. By this time unfortunately it is often too late to prevent their shareholders or pensioners from losing money. In this article Rolf Carlsson describes how the Wallenberg family through their holding company Investor AB have helped a number of Swedish companies to become world leaders by working with their managers as active investors. He tells the story of ABB and L.M. Ericsson but the Wallenberg sphere of influence has also included Atlas Copco, SAAB Scania, SKF, Swedish Match, Alfa Laval, Stora and Electrolux. Also he explains how the Wallenberg family evolved the competencies and structures which they needed to fulfil their role as an active investor. These competencies included: choosing the right businesses in which to invest; “meta‐management” – recruiting and appointing the right chief executives; “legitimization” – building the Wallenberg reputation and good name in Swedish society and internationally by pursuing socially responsible and ethical policies; and nurturing corporations so they can become global leaders. The family works through two key structures: Investor AB – an investment company which has a board of non‐executive directors and two executive vice chairmen most of whom are experienced CEO’s from industry and commerce; and independent company boards, with strong CEO’s – which they change as necessary to ensure that they have the competencies required to deliver the agreed strategies. The Wallenberg’s approach to active ownership is entrepreneurial: “the need for incessant renewal”.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.000
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.872
Threshold uncertainty score0.294

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0000.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.001
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.041
GPT teacher head0.207
Teacher spread0.167 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it