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Revisiting The Party Paradox Of Finance Capitalism: Evidence From Switzerland, Sweden And The Netherlands

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Executive Summary

The 'Party paradox' paper claims that centre-left parties have a genuine interest in pro-shareholder corporate governance reforms, while centre-right parties oppose such reforms. Based on case studies of Switzerland, Sweden, and the Netherlands, the author tests the accuracy of this paper and find that it does not apply to either of these cases: in Switzerland pro-shareholder reforms were made possible by centre-right not centre-left support; In Sweden and the Netherlands pro-shareholder reforms were marginal, because a broad coalition uniting centre-right and centre-left opposed them. These findings show therefore that the 'Party paradox' is not a universal phenomenon and that most micro-level explanations of this phenomenon are inaccurate.

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