Nordic corporate governance

There are basic similarities in corporate governance among the Nordic countries, both with regard to legislation and other regulation, such as traditions and common practice. At the same time, the corporate governance codes that were introduced in these countries soon after the turn of the millennium show significant differences.

This causes practical difficulties, particularly for companies with shares quoted on more than one Nordic stock exchange, and it makes continued integration of the Nordic capital market more difficult.

Against this background, a joint working group for the code monitoring bodies in Denmark, Finland, Iceland, Norway and Sweden was set up in June 2007 to analyse similarities and differences between the countries' corporate governance systems and to evaluate the potential for increased coordination of self-regulation. As a first step, the group has produced a booklet, Corporate Governance in the Nordic Countries, giving a general overview of the common features of corporate governance in these countries.

The booklet describes the main features of the Nordic corporate governance model and is aimed at the international capital market, where this model is not generally very well known, and other international actors. It is hoped that this will also create a basis for consideration of the scope for further coordination between the Nordic countries regarding self-regulation within this field.