☮ ♥ ♬ 🧑💻<p>“A fourth factor in <a href="https://ioc.exchange/tags/Nordic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Nordic</span></a> outperformance is patient shareholders. According to <a href="https://ioc.exchange/tags/McKinsey" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>McKinsey</span></a>, a consultancy, four-fifths of large Nordic companies have long-term ownership, compared with three-fifths in Europe and only a fifth in America. Business dynasties play a prominent role in the region. <a href="https://ioc.exchange/tags/Maersk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Maersk</span></a> and <a href="https://ioc.exchange/tags/Lego" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Lego</span></a> are still controlled, respectively, by the founding Moller and Kristiansen families, though both firms are run day-to-day by outsiders. In <a href="https://ioc.exchange/tags/Sweden" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Sweden</span></a> the Wallenbergs, whose fortune originated in banking, own large stakes in various companies, including <a href="https://ioc.exchange/tags/AtlasCopco" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AtlasCopco</span></a> and <a href="https://ioc.exchange/tags/Ericsson" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Ericsson</span></a>. Other big Nordic firms, including <a href="https://ioc.exchange/tags/Carlsberg" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Carlsberg</span></a> and <a href="https://ioc.exchange/tags/NovoNordisk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NovoNordisk</span></a>, are controlled by non-profit foundations.</p><p>Such arrangements have prevented foreign firms from snapping up Nordic companies, giving them more time to grow. They have also made it easier for companies to invest in their long-term success. McKinsey reckons that four-fifths of listed Nordic companies spend more on <a href="https://ioc.exchange/tags/research" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>research</span></a> and <a href="https://ioc.exchange/tags/development" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>development</span></a> than their rivals do elsewhere in the West. Lars Fruergaard Jorgensen, Novo Nordisk’s boss, has said that his main focus is how the company will look in ten to 20 years”</p><p><a href="https://ioc.exchange/tags/business" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>business</span></a> / <a href="https://ioc.exchange/tags/stability" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>stability</span></a> / <a href="https://ioc.exchange/tags/technology" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>technology</span></a> <<a href="http://active.econweb.p.aws.economist.com/business/2024/12/30/why-are-nordic-companies-so-successful" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">http://</span><span class="ellipsis">active.econweb.p.aws.economist</span><span class="invisible">.com/business/2024/12/30/why-are-nordic-companies-so-successful</span></a>></p>