Research and publications
An overview of publications from The Department of Finance.
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Selected publications
Selected publications
2024
De Bodt, Eric, B. Espen Eckbo, and Richard R. Roll, 2024, Competition Shocks, Rival Reactions, and Return Comovement, Journal of Financial and Quantitative Analysis, forthcoming
Pohl, Walter, Karl Schmedders and Ole Wilms, 2024.
Existence of the Wealth-Consumption Ratio in Asset Pricing Models with Recursive Preferences. The Review of Financial Studies; Volum 37, (3), s. 989–1028Lindset, Snorre, Guttorm Nygård, Svein-Arne Persson, 2024. Trade-Off Theory for Dual Holders. Journal of Money, Credit and Banking
Brogaard, Jonathan, Nataliya Gerasimova and Maximilian Rohrer, 2024. The Effect of Female Leadership on Contracting from Capitol Hill to Main Street. Journal of Financial Economics; Volum 155.
Karapetyan, Artashes, Jens Soerlie Kvaerner and Maximilian Rohrer, 2024. Inefficient Regulation: Mortages versus Total Credit. Review of Finance; Volum 28. s. 311-351
2023
Yuferova, Darya, 2023. Algorithmic Trading and Market Efficiency around the Introduction of the NYSE Hybrid Market. Journal of Financial Markets, forthcoming
Bellia, Mario, Loriana Pelizzon, Marti G. Subrahmanyam and Darya Yuferova, 2023. Market Liquidity and Competition among Designated Market Makers. Management Science, forthcoming
Eckbo, B. Espen, Kai Li and Wei Wang, 2023.
Loans to chapter 11 firms: contract design, repayment risk, and pricing. Journal of Law and Economics, forthcomingEckbo, B. Espen and Markus Lithell, 2023. Merger-Driven Listing Dynamics. Journal of Financial and Quantitative Analysis
Bienz, Carsten Gero, Karin S. Thorburn and Uwe Walz, 2023. Fund ownership, wealth, and risk-taking: Evidence on private equity managers. Journal of Financial Intermediation; Volum 54.
Lot, Andre, Kremena Bachmann, Xiaogeng Xu and Thorsten Hens, 2023. Experimental Research on Retirement Decision-Making: Evidence from Replications. Journal of Banking & Finance; Volum 152.
Menkveld, Albert and Darya Yuferova, et al., et., 2023.
Non-Standard Errors. Journal of FinanceRohrer, Maximilian, Diego Garcia and Xiaowen Hu, 2023.
The colour of finance words. Journal of Financial Economics; Volum 147.(3) s. 525-549.2022
Chen, Jie, Xunhua Su, Xuan Tian and Bin Xu, 2022.
Does customer base structure influence managerial risk-taking incentives?. Journal of Financial Economics; Volum 143.(1) s. 462-483Friewald, Nils, Florian Nagler and Christian Wagner, 2022.
Debt Refinancing and Equity Returns. Journal of Finance; Volum 7.(4) s. 2287-2329Herpfer, Christoph, Aksel Mjøs and Cornelius Schmidt, 2022.
The Causal Impact of Distance on Bank Lending. Management Science; Volum 69.(2) s. 723-740Jo, Yonghwan, Jihee Kim and Francisco Santos, 2022.
The impact of liquidity risk in the Chinese banking system on the global commodity markets. Journal of Empirical Finance; Volum 66. s. 23-50Lee, Kyeong Hun, David C. Mauer and Emma Q. Xu, 2022.
Selling durables: Financial flexibility for limited cost pass-through. Journal of Corporate Finance; Volum 752021
Amir, Rabah, Igor V. Evstigneev, Thorsten Hens, Valeriya Potapova and Klaus Reiner Schenk-Hoppe, 2021.
Evolution in pecunia. Proceedings of the National Academy of Sciences of the United States of America; Volum 118.(26)Bjørnland, Hilde C., Frode Martin Nordvik and Maximilian Rohrer, 2021.
Supply flexibility in the shale patch: Evidence from North Dakota. Journal of applied econometrics; Volum 36.(3) s. 273-292Bongaerts, Dion, Richard Roll, Dominik Rösch, Mathijs van Dijk and Darya Yuferova, 2021.
How Do Shocks Arise and Spread Across Stock Markets? A Microstructure Perspective. Management Science; Volum 68.(4) s. 3071-3089Chernov, Mikhail, Lars A. Løchstøer and Stig Roar Haukø Lundeby, 2021.
Conditional Dynamics and the Multihorizon Risk-Return Trade-Off. The Review of Financial Studies; Volum 35.(3) s. 1310-1347Eckbo, B. Espen, Knut Nygaard and Karin S. Thorburn, 2021.
Valuation Effects of Norway’s Board Gender-Quota Law Revisited. Management Science; Volum 68.(6) s. 4112-4134Jagannathan, Ravi, Loriana Pelizzon, Ernst Schaumburg, Mila Getmansky Sherman and Darya Yuferova, 2021. Recovery from fast crashes: Role of mutual funds. Journal of Financial Markets; Volum 59
Lensberg, Terje and Klaus Reiner Schenk-Hoppe, 2021.
Cold play: Learning across bimatrix games. Journal of Economic Behavior and Organization; Volum 185. s. 419-441Pohl, Walter, Karl Schmedders and Ole Wilms, 2021.
Asset pricing with heterogeneous agents and long-run risk. Journal of Financial Economics; Volum 140.(3) s. 941-9642020
Eckbo, B. Espen, Andrey Malenko and Karin S. Thorburn, 2020. “Strategic Decisions in Takeover Auctions”. Annual Review of Financial Economics, 12, 237-276
Chi, Daniel, Xunhua Su, Yun Tang and Bin Xu, 2020. Is Language an Economic Institution? Evidence from R&D. Journal of Corporate Finance, forthcoming
2019
Friewald, Nils and Florian Nagler, 2019. Over-the-Counter Market Frictions and Yield Spread Changes. Journal of Finance, 74 (6), 3217-3257
2018
Raff, Konrad and Linus Siming, 2018. Knighthoods, Damehoods, and CEO Behaviour. Journal of Corporate Finance, 59, 302-319
Lee, Kyeong Hun, 2018. Cross-border Mergers and Acquisitions amid Political Uncertainty: A Bargaining Perspective. Strategic Management Journal, 39 (11), 2992-3005
Pohl, Walter, Karl Schmedders and Ole Wilms, 2018. Higher-Order Effects in Asset-Pricing Models with Long-Run Risks. Journal of Finance, 73 (3), 1061-111
Lee, Kyeong Hun, David C. Mauer and Qianying(Emma) Xu, 2018. Human Capital Relatedness and Mergers and Acquisitions. Journal of Financial Economics, 129, (1), 111-135
Eckbo, B. Espen, Tanakorn Makaew and Karin S. Thorburn, 2018. Are stock-financed takeovers opportunistic? Journal of Financial Economics, 128 (3); 443-465.
2017
Kim, Jaewoo, Kyeong Hun Lee and Erik Lie, 2017. Dividend Stickiness, Debt Covenants, and Earnings Management. Contemporary Accounting Research, 34, (4), 2022–2050
Kisser, Michael, John Kiff and Mauricio Soto, 2017. Do managers of U.S. defined benefit pension plan sponsors use regulatory freedom strategically? Journal of Accounting Research, 55, 1213–1255
Friewald, Nils, Rainer Jankowitsch and Marti G. Subrahmanyam, 2017. Transparency and Liquidity in the Structured Product Market. Review of Asset Pricing Studies, 7(2), 316-348.
Bakke, Einar, Tore Leite and Karin S. Thorburn, 2017. Partial Adjustment to Public Information in the Pricing of IPOs. Journal of Financial Intermediation, 32, 60-75.
Su, Xunhua and Zhang Li, 2017.A Re-examination of Credit Rationing in the Stiglitz and Weiss Model. Journal of Money, Credit and Banking, 49(5), 1059-1072.
Santos, Francisco, 2017. IPO market timing with uncertain aftermarket retail demand, Journal of Corporate Finance, 42, 247-266.
Akyol, Ali C., Konrad Raff and Patrick Verwijmeren, 2017. The elimination of broker voting in director elections. Finance Research Letters, 21, 34-39.
Chi, Daniel and Xunhua Su, 2017. The dynamics of performance volatility and firm valuation. Journal of Financial and Quantitative Analysis, 52(1), 111-142.
2016
Lindset, Snorre and Svein-Arne Persson, 2016. A stochastic mesh size simulation algorithm for pricing barrier options in a jump-diffusion model. Journal of Applied Operational Research, 8(1), 15–25.
Chi, Daniel and Xunhua Su, 2016. Product Market Threats and the Value of Corporate Cash Holdings. Financial Management 45(3), 705-735
Eckbo, B. Espen, Karin S. Thorburn and Wei Wang, 2016. How costly is corporate bankruptcy for the CEO? Journal of Financial Economics 121 (1), 210-229.
Koskinen, Yrjo and Joril Maeland, 2016. Innovation, Competition and Investment Timing. Review of Corporate Finance Studies 5(2), 166-199.
Friewald, Nils, Christopher A. Hennessy and Rainer Jankowitsch, 2016. Secondary market liquidity and security design: Theory and evidence from ABS markets. Review of Financial Studies, 29, 1254-1290.
Schmidt, Cornelius and Rudiger Fahlenbrach, 2016. Do exogeneous changes in passive institutional ownership affect corporate governance and firm value? Journal of Financial Economics, 124(2), 285–306.
2015
Bradbury, Mike A. S, Thorsten Hens and Stefan Zeisberger, 2015. Improving Investment Decisions with Simulated Experience. Review of Finance, 19, 1019-1052.
Rieger, Marc Oliver, Mei Wang and Thorsten Hens, 2015. Risk preferences around the world. Management Science, 61, 637-648.
Chi, Daniel and Xunhua Su, 2015. Product Market Threats and the Value of Corporate Cash Holdings. Financial Management 45(3), 705-735.
Burkart, Mike and Konrad Raff, 2015. Performance Pay, CEO Dismissal and the Dual Role of Takeovers. Review of Finance, 19, 1383-1414.
Ladley, Dan, Terje Lensberg, Jan Palczeski and Klaus Reiner Schenk-Hoppe, 2015. Fragmentation and stability of markets. Journal of Economic Behaviour and Organization, 119, 466-481.
Hull, Tyler, 2015. How the timing of dividend reductions can signal value. Journal of Corporate Finance, 30, 114-131.
2014
Eckbo, B. Espen, 2014. Corporate Takeovers and Economic Efficiency. Annual Review of Financial Economics, 6, 51-74.
Betton, Sandra, Espen B. Eckbo, Rex Thompson and Karin S. Thorburn, 2014. Merger Negotiations with Stock Market Feedback. Journal of Finance, 69, 1705-1745.
2013
Hens, Thorsten and Christian Reichlin, 2013. Three Solutions to the Pricing Kernel Puzzle. Review of Finance, 17, 1065-1098.
Kisser, Michael, 2013. The real option value of cash. Review of Finance, 17, 1646-1697.
Hull, Tyler, 2013. Does the timing of dividend reductions signal value? Empirical Evidence. Journal of Corporate Finance, 22, 193-208.
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All publications
All publications
For a full publication list from NHH's Department of Finance, go to: