The Role of the Non‐Executive Board and the CEO in Managing the Change: a survival battle in Finnish Banking

Kirsi Myllys

Corporate Governance: An International Review, 1999, vol. 7, issue 4, 311-323

Abstract: This study describes the survival cases of two local savings banks in Finland during fundamental changes in 1990’s when 90% of the Finnish Savings Bank Group did not survive. Survival is studied through the roles of the non‐executive boards and the CEOs in the context of three change periods. Institutional theory is used as a framework in describing and explaining the survival. The cases describe how radical renewals can be made despite dominant actors and generally agreed ways of change in the field. It is suggested that the CEO and the non‐executive board of directors were in a key role in changing the future of a local savings bank. Old institutions can die, but the active role of the small banks themselves was decisive; by taking active role they recreated and renewed their organizations (c.f. Greenwood and Hinings 1996).

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:bla:corgov:v:7:y:1999:i:4:p:311-323

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