Money talks: Lessons from Norway
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 13 February 2018
⏱️ 14 minutes
🧾️ Download transcript
Summary
10 years on, what can we learn from the Norwegian quota for female corporate directors? Also: A tale of two chip-makers and a mammoth hostile takeover bid — Qualcomm and Broadcom. And, what is threatening old-fashioned customer service in Japan? Simon Long hosts
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Transcript
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| 0:00.0 | Hello, I'm Simon Long, the finance editor of the Economist. |
| 0:08.0 | Welcome to Money Talks. |
| 0:10.0 | Coming up on the program, a tale of two chip makers, a mammoth hostile takeover bid. |
| 0:16.0 | Well, these companies might not be household names, Simon, but they are ubiquitous. |
| 0:20.0 | Their trips feature in more or less every phone, computer or tablet and that's why this is such a big deal. |
| 0:27.0 | And what's threatening old-fashioned customer service in Japan? |
| 0:31.0 | You hear people saying that at lunchtime their tray was |
| 0:34.0 | taken away day before they'd finished eating. Things that they say just wouldn't have |
| 0:37.8 | happened a few years ago because there are shortage of stuff and people in a |
| 0:41.8 | rush and don't have time to the same level of service anymore. |
| 0:45.0 | First, 10 years ago now, a 40% quota for female directors of listed companies came into force in Norway. |
| 0:55.4 | It was heralded as a breakthrough, and now most countries in Western Europe have followed suit, |
| 1:00.3 | forcing companies to reserve a certain share of seats on their boards for women. |
| 1:05.0 | Non-complying firms can, in theory, be forcibly dissolved. |
| 1:09.2 | Slavaaa Chankova, who's been looking into the effects of these quotas in Norway over the last 10 years |
| 1:13.2 | joins me now. Hello Staveer. Hello Simon. So broadly what are the effects? So since |
| 1:19.9 | Nara introduced the quota as you you said, most countries in Western Europe |
| 1:23.4 | introduced similar quotas. In some countries, they come with strict penalties. |
| 1:28.4 | Companies that fail to comply, maybe dissolved or may have to pay a hefty fine or in France the directors may not be paid. |
| 1:38.0 | Depending on how strict the penalties are, companies have complied to various degrees. |
| 1:45.0 | The overall result is that the share of women on corporate boards across Western Europe has really shot up to 30, 40% in many countries. |
| 1:55.0 | Some of the effects that were expected |
... |
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