Novo Nordisk Endowed Chair in Industrial Foundations
Thanks to a generous grant from the Novo Nordisk Foundation (10 million DKK), CBS has in 2019 established an Endowed Chair in Industrial Foundations to significantly strengthen the research within the field of foundations with corporate interest in Denmark. Particularly, the professorship shall be responsible for leadership within foundations of corporate interest, at a high international level and shall actively be engaged in knowledge dissemination and increased knowledge in Denmark as well as abroad regarding the Danish model for foundations with corporate interest.
“Industrial foundations” or “Corporate foundations” is an academic term for foundations that own companies. Typically, the foundations are charitable but they also play an important role as “business owners” or “enterprise foundations”. The structure is common in Northern Europe, particularly in Denmark, and poses special challenges and opportunities for corporate governance. For example, industrial foundations often aim to be responsible, long-term owners, but may be constrained by limited access to external finance.
The endowed chair in Industrial Foundation Governance – which is funded by the Novo Nordisk Foundation – will undertake research and teaching on industrial foundation governance at a high international level while promoting knowledge of the industrial foundation model outside of Denmark. The chair is expected to maintain and develop global research leadership in the area, which involves mentoring younger researchers, data collection and data access, organization and participation in international conferences, seminars and workshops. In accordance with CBS research policy, the chair is guaranteed freedom of research within the research area in question.
THE NOVO NORDISK FOUNDATION
In organizational terms, the Novo Nordisk Foundation awards grants and Novo Holdings A/S, the Foundation’s wholly owned subsidiary, manages the Foundation’s commercial activities. The objective of Novo Holdings A/S is to manage the Foundation’s endowment and invest its assests to ensuring that the Foundation obtains a satisfactory financial return.