Knut K. Aase and Petter Bjerksund: The optimal spending rate from the fund is significantly less than the fund’s expected real rate of return. The optimal spending rate ensures that the fund will last “forever”, but spending the expected return (following the fiscal rule, "handlingsregelen") will deplete the fund with probability one.
All research news from the Department of Business and Management science
Petter Bjerksund and Guttorm Schjelderup: Research does not support the statement that wealth tax makes Norwegian investors less willing to own firms.
The article "Cross-border effects of R&D tax incentives" has been published in Research Policy.
The article "Cancer and Portfolio Choice: Evidence from Norwegian Register Data" has been published in Review of Finance.
Guttorm Schjelderup and Kristine Sævold: Nicolai Tangen's way to organize his fortune and business may be read as a classic, aggressive, tax planning structure. It is stirring that The central bank of Norway does not see that this is a possible perspective.
Øystein Foros: This will only change if the price difference becomes so big that ecological-conscious customers stop buying ecological.
Gunnar S. Eskeland: New, green solutions must not be slowed down by established firms and tehcnologies' alliances and cooperation. Future development has none or weak owners and no political ties.
Christian Braathen: Even though conversion and green shift is important, it is not enough. We also have to make better use of today's resources.
The containerized shipping industry has been essential to global commerce for its low shipping costs. However, high freight rates are starting to have an impact on consumer goods. Roar Ådland is interviewed on this by The Maritime Executive.
The article "Keep it in house or sell it abroad? A framework to evaluate fairness" has been published in European Journal of Operational Research.
Petter Bjerksund: If the employee it to be treated like a founder, the new tax proposal for employee options should be supplemented.
A new expert committee will evaluate Norwegian power supply and the electricity grid. NHH Professor Mette H Bjørndal is appointed member of the expert group.
On Wednesday 16 June 2021 Somayeh Rahimi Alangi will hold a trial lecture on a prescribed topic and defend her thesis for the PhD degree at NHH.
`Early imposition of full international travel restrictions appears to have reduced the growth in per capita cases and fatalities associated with COVID-19 in Nordic countries in 2020´, Professor Stein Ivar Steinshamn says.
Øystein Foros and Erling J. Hjelmeng: UEFA's Sopranos-like methods to stop the new competitor goes against the competition rules of the European Union.
Gunnar S. Eskeland: The world and Norway are making gross errors in the climate politics when it comes to the treatment of farming and forests. For Norway this opens up an important potential in the primary industries' farming and aquaculture.
`Because of the relatively quick solution, the incident is not likely to have a long-term effect on the shipping industry´, says NHH Professor Roar Ådland to Al-Ahram Weekly.
Did you miss out on the NHH mini conference on financial secrecy 24 March? The conference was digital and you now can watch the video and listen to experts discussing if financial institutions are capable of detecting criminal activity, as required by the regulations.
The article "Good mine, bad mine: Natural resource heterogeneity and Dutch disease in Indonesia" has been published in Journal of International Economics.
The article "The locally Gaussian partial correlation" has been published in Journal of Business & Economic Statistics.
Tax evasion, bribery and fraud can be part of apparently legitimate business. Are the financial institutions capable of detecting criminal activity, as required by the regulations?
Master's degree students Andreas Vestre and Kristian Wøien Stø felt there was a lack of quantitative research on the effect of working from home. Their data analysis indicates that many make more efficient use of their working hours when working from home.
The article "International taxation and productivity effects of M&As" has been published in Journal of International Economics.
Our PhD student Benjamin Narum is the 2019 - 2020 recipient of the NORS Best Master Thesis in Operations Research.
Gunnar S. Eskeland: Investments in "green" funds and companies – Scatec Solar, Tesla – has resulted in amazing returns, and some think that so it will be in the future as well. It would be a pity if they are proven right.
Head of NoCeT, Guttorm Schjelderup, was among the speakers in a big Norad webinar on illegal capital flight.
Mario Guajardo was recently awarded a diploma in the final of 2020 Daniel H. Wagner Prize for his paper «Scheduling the Main Professional Soccer League of Argentina»
The article "When Risk Perception Gets in the Way: Probability Weighting and Underprevention" has been published in Operations Research.
It will take a significant carbon levy, which more than doubles current fuel prices, to sufficiently push shipping's green transition in the way Norwegian and Danish shipowners call for, Roar Ådland tells ShippingWatch.
Petter Bjerksund: Has the Labour Party thought that, once again, it should be profitable to convert earned income into capital income? Or does the party intend to increase the dividend tax by 2,3 percentage points?
Jarle Møen: Small firms are, in many cases, taxed more favourably than houses. Will even more favourable taxes on "working capital" really lead to more jobs?
Malin Arve and Eirik Gaard Kristiansen: Perhaps everybody has not considered that they actually have taken part in an auction.
Gunnar S. Eskeland: The wealth tax study currently debated actually shows that protection of "working" capital leads to more jobs, at least within small businesses. If big businesses should be protected, too, less wealth tax will be paid.
The article "Capital gains taxation and funding for start-ups" has been published in Journal of Financial Economics.
PhD Research Scholar Gabriel Fuentes led his team to second place in the UN software programming competition "AIS Big Data Hackathon". Fuentes is employed at SNF and has office space at the Department of Business and Management Science at NHH.
On Wednesday 28 October 2020, Ondrej Osicka will hold a trial lecture on a prescribed topic and defend his thesis for the PhD degree at NHH.
CBE researcher Øystein Foros writes about the ongoing conflict between the Norwegian Competition Authority and the Norwegian book publishers in Dagens Næringsliv.
The article "On shared use of renewable stocks" has been published in European Journal of Operational Research.
Christian Braathen: In order for leaders to be able to be more critical to analysis, also researchers will have to change their way of working.
Mario Guajardo has made it through to the final of the 2020 Wagner Prize Competition, with an entry entitled "Scheduling the Main Professional Soccer League of Argentina".
Gunnar S. Eskeland and Asgeir Tomasgard: The electric car policy does not defeat its own end. It reduces emissions, and not in Norway exclusively. But it should be less expensive than it is now.
Research about the freight shipping industry by Roar Ådland, Vit Prochazka and Stein W. Wallace is emphasised in a commentary article in American Shipper.
Øystein Foros and Hans Jarle Kind: Small players should reconsider before they cheer the fight against the giants.
Although former NHH student Jens Aas has yet to turn 30, he has already worked on sustainability on three different continents.
Ola Kvaløy: This year, when we really got to learn which jobs that are critically important to society, the interest in studies in economics and administration reaches new heights.
Christian Braathen: Why do companies easily outsource a string of tasks out of town, while they still force their own employees to be in their offices every day?
Gunnar S. Eskeland and Jens Sørlie Kværner: Finance is a game between people trying to fool each other, but finance is also an advanced machine that decides where the capital flows. The question is whether finance really can starve "sinful" activities on capital.
On Tuesday September 8, Lisa Maria Assmann will hold a trial lecture on a prescribed topic and defend her thesis for the PhD degree at NHH.
The article "Multi‐part tariffs and differentiated commodity taxation" has been published in RAND Journal of Economics.
CBE researcher Trond Olsen's article "Relational Contracting, Negotiation, and External Enforcement", jointly written with Joel Watson and David A. Miller, has been accepted for publication by the American Economic Review.
The article "Relational Contracting, Negotiation, and External Enforcement" has been published in The American Economic Review.
Just how much machine learning algorithms can deliver to capesize earnings has been quantified in a landmark new piece of research, by students supervised by Roar Ådland.
The lockdown in Norway has been successful in reducing the pressure on the healthcare system. If Norway would have followed the more lenient Swedish response, the peak number of COVID19 hospitalizations would have been three times higher.
Roar Ådland, Pierre Cariou and Francois-Charles Wolff have revisited the science behind slow steaming and are questioning the validity of the green claims championed by many owners and politicians such as Emmanuel Macron.
NORCE to have a new centre for research-based innovation: Climate Futures will provide climate risk forecasts ranging from 10 days to 10 years ahead in time. NHH and SNF are two of the partners of the new SFI.
The article "Profit maximizing coalitions with shared capacities in distribution networks" has been published in European Journal of Operational Research.
Associate Professors at the Department of Business and Management Science, Floris Zoutman and Evelina Gavrilova-Zoutman, awarded for article on legalizing medical marijuana.
On Monday 15 June 2020 Evangelos Toumasatos will hold a trial lecture on a prescribed topic and defend his thesis for the PhD degree at NHH.
Roar Ådland interviewed by The Economist: A midsized oil tanker’s fuel consumption drops by around 9 % after its hull is cleaned at sea. However, if the cleaning is done in a dry dock, that figure can be as much as 17 %.
Guttorm Schjelderup: An argument commonly used by the people behind letterbox companies registered in tax havens is that they operate from tax havens to avoid double taxation. Is that correct? And what is meant by double taxation?
Erling J. Hjelmeng, Hans Jarle Kind and Øystein Foros: Increased competition and innovation will contribute to higher income and secure employment for milk farmers.
Guttorm Schjelderup: Users of tax havens claim to do nothing wrong and that they want to avoid double taxation, but the legal users legitimate and support a system with great damaging effects.
Through the company Mycroft, PhD candidate Christian Braathen makes it easier to create good work schedules. He is now set to receive NOK 1 million from the Research Council of Norway.
Gunnar S. Eskeland: Everything that can be sped up now, is of great value. We are going to spend enormous amounts of money, and investments in carbon capture will not be in vain. The upside is high.
Ola Kvaløy: The probability for too strict measures against the coronavirus being introduced is far bigger than the probability for the opposite. Here are five reasons for that.
Johannes Mauritzen: The coronavirus is a serious threat to the world economy, at least temporarily. But what happens know also tells us about Norway's long term risk as an oil nation.
Everyone is talking about the climate crisis. Bergens Tidende presents six researchers who are actually doing something about it. Yewen Gu is one of them.
Gunnar S. Eskeland: We can not compensate all those who "lose" when we have to quit fossil fuels. The government must be looked upon as a somewhat unreliable support patrol that should show caution when it comes to compensations to fur farmers.
Guttorm Schjelderup: In the public debate wealth tax is emphasised as the reason why the richest people emigrate, but the tax savings by avoiding capital gains taxation amounts to much more.
Christian Braathen: So-called internally motivated employees perform best - when they are motivated. What happens when they are not motivated?
Businesses fight to attract candidates from NHH. A record-high 99 per cent of those who left NHH with a master’s degree in spring 2019 have found relevant work, shows NHH’s labour market survey.
Are the financial institutions capable of detecting criminal activity, as required by the regulations?
UBS whistle blower Bradley C. Birkenfeld, Director of Group Compliance Mirella Elisa Os Wassiluk (DNB) and NHH Professor Guttorm Schjelderup are speaking at an NHH conference on financial secrecy in March.
Students focusing on subjects related to, or of importance to, the shipping industry and/or the marine insurance business may apply for this scholarship (deadline: 1 April).
The article "Pairwise local Fisher and naive Bayes: Improving two standard discriminants" has been published in Journal of Econometrics.
Roar Os Ådland writes about the sudden return of shipping pools in the news headlines this year.
Gunnar S. Eskeland and Asgeir Tomasgard: Equinor's plans concerning emission reductions are well and good, but Norwegian gas also needs carbon capture and storage, if we are to secure ourselves lasting, and profitable, customer relationships.
This week the Ministry of Transport received the report Transport21. It is a contribution to strategy for research, development and innovation in the transport sector, directed towards the government, R&D actors and business.
Øystein Foros and Hans Jarle Kind: The largest chain store does not automatically get a better purchasing price. It is a big blow for Tine to lose Norgesgruppen as a customer, but it will also cost Norgesgruppen dearly to find an alternative.
The article "Problem-driven scenario generation: an analytical approach for stochastic programs with tail risk measure" has been published in Mathematical Programming.
Leif K. Sandal and Gunnar S. Eskeland et al: We have a formidable opportunity to cooperate to take Western Norway forward.
On Tuesday November 26 Yuanming Ni will hold a trial lecture on a prescribed topic and defend her thesis for the PhD degree at NHH.
Gunnar S. Eskeland: A downsell in Equinor will probably not be possible for the government.
Petter Bjerksund, Linda Nøstbakken and Jarle Møen: The Norwegian Seafood Research Fund finances projects for University of Stavanger researchers, who then launch their own theories about taxation of economic rents.
Iver Bragelien: Naturally it is always rough to lose values you thought that you had, but it helps to be extremely rich when that happens.
The Ministry of Finance has appointed Professor Jarle Møen as Norwegian member of The Nordic Tax Research Council.
Øystein Foros and Frode Steen: Customers do not get to know when petrol prices are at their lowest.
On Thursday 17 October 2019 Aija Rusina will hold a trial lecture on a prescribed topic and defend her thesis for the PhD degree at NHH.
Malin Arve og Ignacio Herrera: To exclude small firms from public contracts destroys the market, both in the short run and in the long run.
Electric buses are great - particularly if they beat the "open class" competition. However, we must not miss other, and maybe even better, solutions.
NHH promotes Endre Bjørndal, Mario Guajardo and Arnt Ove Hopland as full professors at the Department of Business and Management Science.
The article "Bioeconomic modeling of seasonal fisheries" has been published in European Journal of Operational Research.
Øystein Foros and Hans Jarle Kind: Should the Norwegian Competition Authority intervene against possibly big differences in the chain store's purchase prices? The answer may be "well yes and no", but society will lose more if the Authority is too kind.
Gunnar S. Eskeland: Smoking all but disappeared, surprisingly quick and easy, in an interaction between politics and altered norms. That may work in climate politics as well.
Trond M. Døskeland: Finance can solve the climate crisis, but may also make matters worse.
Petter Bjerksund and Guttorm Schjelderup: When the government expropriates property, the compensation has to reflect the real loss. A trial to be held in Borgarting lagmannsrett this week should establish this principle.
The International Conference on Stochastic Programming was, for the first time, organized in Norway.
The article "RobinX: a three-field classification and unified data format for round-robin sports timetabling" has been published in European Journal of Operational Research.
Gunnar S. Eskeland: It is somewhat exciting what happens to the world's - and Norway's - remaining fossil resources. Do vi already see some of the tension in the North Sea?
The road toll debate: Pleasing those who scream, leads to a lot of screaming. Maybe that is what we are hearing
Gunnar S. Eskeland: In my opinion, road toll is good, but it can still be improved - and also exaggerated.
Øystein Foros and Mai Nguyen-Ones: Petrol prices are on an all time high. However, most of us do not need to pay more than maximum approximately NOK 16.