Does CEO Ownership Matter for Firm Value? A Study of the Industrial Sector of the Swedish Market.
The primary objective of this study was to measure the effect of CEO ownership on firm value in the presence of strong external governance. We hypothesized that the concentrated ownership structure in Sweden could make equity incentive programs less relevant. The same hypothesis is tested on a subsample of risky firms as well, categorized as firms that conduct R&D. Using panel data methods and