What are the corporate effects of steward-ownership? What is based by research?
Facts we know about steward-ownership
The extensive research in Denmark provides a better understanding of steward-ownership in the form of foundation-ownership and its effects on the economy, the corporations, their employees and society.
Research indicates that steward-owned companies are more long-term oriented and stable in terms of strategy, business activity and employment, they invest in their company and employees, and often pursue social objectives as well as economic activities. Foundation-owned companies seem to combine a conservative and more risk averse approach with an entrepreneurial one, as seen in their high investments in research and development. Additionally, they remain market-driven whilst pursuing additional objectives, making for an interesting combination, both from economic and legal research standards.
While research highlights these characteristics and effects of foundation-owned companies, it does not prove that the steward-ownership structure itself is the cause for the results. While there are causal relationships, the results could also be affected by the foundation characteristics, country or industry specifics or unknown factors. There is still a vast amount of research questions to be answered in respect to steward-ownership, both for foundation-owned companies in Denmark, but more generally for steward-ownership worldwide.