Strategic corporate covernance: the case of Reykjavík Energy
This article is about strategic corporate governance based on a case study of Reykjavik Energy (OR). OR is a partnership owned by three municipalities. Due to legislative changes requiring electricity production and sales to be operated in a separate company from its distribution, OR was reorganised...
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Language: | Icelandic |
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Institute of Business Research
2018
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Online Access: | http://www.efnahagsmal.is/article/view/a.2018.15.2.2 https://doi.org/10.24122/tve.a.2018.15.2.2 |
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fticelandunivojs:oai:ojs.hi.is:article/2866 2023-05-15T16:52:33+02:00 Strategic corporate covernance: the case of Reykjavík Energy Stefnumiðaðir stjórnarhættir: Dæmi frá Orkuveitu Reykjavíkur Steinþórsson, Runólfur Smári Jónsdóttir, Guðrún Erla Jónsson, Bjarni Snæbjörn 2018-12-18 application/pdf http://www.efnahagsmal.is/article/view/a.2018.15.2.2 https://doi.org/10.24122/tve.a.2018.15.2.2 isl ice Institute of Business Research http://www.efnahagsmal.is/article/view/a.2018.15.2.2/pdf http://www.efnahagsmal.is/article/view/a.2018.15.2.2 doi:10.24122/tve.a.2018.15.2.2 ##submission.copyrightStatement## Research in applied business and economics; Árg. 15, Nr 2 (2018); 21-46 Tímarit um viðskipti og efnahagsmál; Árg. 15, Nr 2 (2018); 21-46 1670-4851 1670-4444 Corporate governance role of boards ownership strategy corporate strategy G34 M1 L1 L2 L3 Stjórnarhættir fyrirtækja hlutverk stjórna eigendastefna heildarstefna info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 2018 fticelandunivojs https://doi.org/10.24122/tve.a.2018.15.2.2 2022-09-21T13:40:37Z This article is about strategic corporate governance based on a case study of Reykjavik Energy (OR). OR is a partnership owned by three municipalities. Due to legislative changes requiring electricity production and sales to be operated in a separate company from its distribution, OR was reorganised in 2014 to a parent company and three subsidiaries. At that time OR’s partnership agreement was renewed as well as the ownership strategy and the governance procedures were revised to reflect the new structure. A close look is taken at the processes and practices of strategy and governance that have been developed within OR to ensure that all business units operate in accordance with the ownership strategy. The main findings reveal the practices that enable the board of directors of OR to have the necessary oversight to fulfill its obligations after the reorganization of the company. The study also reveals that the specific conditions after the collapse of the financial system in Iceland in 2008 had an impact on the development of corporate governance within OR. Þessi grein er á sviði stjórnarhátta og fjallar um rannsókn á eigendastefnu og stefnumiðuðum stjórnarháttum hjá Orkuveitu Reykjavíkur (OR). OR er sameignarfyrirtæki í eigu þriggja sveitarfélaga. Staða og þróun OR er áhugaverð vegna lagabreytinga sem knúðu á um að raforkuframleiðsla og -sala skyldi sett í sérstakt fyrirtæki og vera aðskilin frá veiturekstri OR. Í ársbyrjun 2014 var OR skipt upp í samstæðu sem samanstendur af móðurfélagi og þremur dótturfélögum. Við þau tímamót var sameignarsamningur OR endurnýjaður ásamt eigendastefnu, og stjórnarhættir fyrirtækisins endurskoðaðir. Í rannsókninni er fjallað um innra samhengi milli sameignarsamnings OR, eigendastefnu og heildarstefnu fyrirtækisins og rýnt í hvernig unnið er að framkvæmd eigendastefnunnar í samstæðunni. Helstu niðurstöður eru þær að með sérstöku verklagi við rýni, mótun og eftirfylgni er stuðlað að því að stjórn samstæðunnar hafi nauðsynlega yfirsýn til að sinna stefnutengdu hlutverki sínu í ... Article in Journal/Newspaper Iceland Reykjavík Reykjavík University of Iceland: Peer Reviewed Journals Reykjavík Stjórn ENVELOPE(-18.041,-18.041,63.810,63.810) Tímarit um viðskipti og efnahagsmál 15 2 21 46 |
institution |
Open Polar |
collection |
University of Iceland: Peer Reviewed Journals |
op_collection_id |
fticelandunivojs |
language |
Icelandic |
topic |
Corporate governance role of boards ownership strategy corporate strategy G34 M1 L1 L2 L3 Stjórnarhættir fyrirtækja hlutverk stjórna eigendastefna heildarstefna |
spellingShingle |
Corporate governance role of boards ownership strategy corporate strategy G34 M1 L1 L2 L3 Stjórnarhættir fyrirtækja hlutverk stjórna eigendastefna heildarstefna Steinþórsson, Runólfur Smári Jónsdóttir, Guðrún Erla Jónsson, Bjarni Snæbjörn Strategic corporate covernance: the case of Reykjavík Energy |
topic_facet |
Corporate governance role of boards ownership strategy corporate strategy G34 M1 L1 L2 L3 Stjórnarhættir fyrirtækja hlutverk stjórna eigendastefna heildarstefna |
description |
This article is about strategic corporate governance based on a case study of Reykjavik Energy (OR). OR is a partnership owned by three municipalities. Due to legislative changes requiring electricity production and sales to be operated in a separate company from its distribution, OR was reorganised in 2014 to a parent company and three subsidiaries. At that time OR’s partnership agreement was renewed as well as the ownership strategy and the governance procedures were revised to reflect the new structure. A close look is taken at the processes and practices of strategy and governance that have been developed within OR to ensure that all business units operate in accordance with the ownership strategy. The main findings reveal the practices that enable the board of directors of OR to have the necessary oversight to fulfill its obligations after the reorganization of the company. The study also reveals that the specific conditions after the collapse of the financial system in Iceland in 2008 had an impact on the development of corporate governance within OR. Þessi grein er á sviði stjórnarhátta og fjallar um rannsókn á eigendastefnu og stefnumiðuðum stjórnarháttum hjá Orkuveitu Reykjavíkur (OR). OR er sameignarfyrirtæki í eigu þriggja sveitarfélaga. Staða og þróun OR er áhugaverð vegna lagabreytinga sem knúðu á um að raforkuframleiðsla og -sala skyldi sett í sérstakt fyrirtæki og vera aðskilin frá veiturekstri OR. Í ársbyrjun 2014 var OR skipt upp í samstæðu sem samanstendur af móðurfélagi og þremur dótturfélögum. Við þau tímamót var sameignarsamningur OR endurnýjaður ásamt eigendastefnu, og stjórnarhættir fyrirtækisins endurskoðaðir. Í rannsókninni er fjallað um innra samhengi milli sameignarsamnings OR, eigendastefnu og heildarstefnu fyrirtækisins og rýnt í hvernig unnið er að framkvæmd eigendastefnunnar í samstæðunni. Helstu niðurstöður eru þær að með sérstöku verklagi við rýni, mótun og eftirfylgni er stuðlað að því að stjórn samstæðunnar hafi nauðsynlega yfirsýn til að sinna stefnutengdu hlutverki sínu í ... |
format |
Article in Journal/Newspaper |
author |
Steinþórsson, Runólfur Smári Jónsdóttir, Guðrún Erla Jónsson, Bjarni Snæbjörn |
author_facet |
Steinþórsson, Runólfur Smári Jónsdóttir, Guðrún Erla Jónsson, Bjarni Snæbjörn |
author_sort |
Steinþórsson, Runólfur Smári |
title |
Strategic corporate covernance: the case of Reykjavík Energy |
title_short |
Strategic corporate covernance: the case of Reykjavík Energy |
title_full |
Strategic corporate covernance: the case of Reykjavík Energy |
title_fullStr |
Strategic corporate covernance: the case of Reykjavík Energy |
title_full_unstemmed |
Strategic corporate covernance: the case of Reykjavík Energy |
title_sort |
strategic corporate covernance: the case of reykjavík energy |
publisher |
Institute of Business Research |
publishDate |
2018 |
url |
http://www.efnahagsmal.is/article/view/a.2018.15.2.2 https://doi.org/10.24122/tve.a.2018.15.2.2 |
long_lat |
ENVELOPE(-18.041,-18.041,63.810,63.810) |
geographic |
Reykjavík Stjórn |
geographic_facet |
Reykjavík Stjórn |
genre |
Iceland Reykjavík Reykjavík |
genre_facet |
Iceland Reykjavík Reykjavík |
op_source |
Research in applied business and economics; Árg. 15, Nr 2 (2018); 21-46 Tímarit um viðskipti og efnahagsmál; Árg. 15, Nr 2 (2018); 21-46 1670-4851 1670-4444 |
op_relation |
http://www.efnahagsmal.is/article/view/a.2018.15.2.2/pdf http://www.efnahagsmal.is/article/view/a.2018.15.2.2 doi:10.24122/tve.a.2018.15.2.2 |
op_rights |
##submission.copyrightStatement## |
op_doi |
https://doi.org/10.24122/tve.a.2018.15.2.2 |
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Tímarit um viðskipti og efnahagsmál |
container_volume |
15 |
container_issue |
2 |
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21 |
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46 |
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1766042884719509504 |