WHY ARE THESE ISLANDS OF CONSCIOUS POWER FOUND IN THE OCEAN OF OWNERSHIP? INSTITUTIONAL AND GOVERNANCE HYPOTHESES EXPLAINING THE EXISTENCE OF BUSINESS GROUPS IN SWEDEN.
Four hypotheses concerning the existence of business groups are developed and are tested on two Swedish business groups that were found to provide both government and corporate economy with governance solutions. Swedish culture also appeared supportive of the groups, which were not found to be institutionally inert, building their existence solely on power.