A number of firms in Northern Europe and especially in Denmark are owned by private foundations similarly to what would have been the case if the Ford Foundation had owned a majority of the shares in Ford Motor Company. Foundation-owned companies appear to perform surprisingly well in terms of...

The weighted average costs of capital (WACC) which companies use for investment decisions may be too high, which implies excessive discounting of the future and economic short-termism. Despite falling interest rates, WACC used by boards seems to have remained high due to increasing subjective...