Research and publications
An overview of publications from The Department of Finance.
-
Selected publications
Selected publications
2022
Garcia, Diego, Xiaowen Hu and Maximilian Rohrer, 2022: "The Colour of Finance Words". Journal of Financial Economics, accepted.
Herpfer, Christoph, Aksel Mjøs and Cornelius Schmidt, 2022: "The Causal Impact of Distance on Bank Lending". Management Science, accepted.
2021
Friewald, Nils, Florian Nagler and Christian Wagner, 2021: "Debt Refinancing and Equity Returns". Journal of Finance, forthcoming.
Chernov, Mikhail, Lars A Lochstoer, Stig R H Lundeby, 2021. Conditional Dynamics and the Multihorizon Risk-Return Trade-Off . Review of Finacial Studies, accepted.
Chen, Jie, Xunhua Su, Xuan Tian, Bin Xu, 2021. "Does customer-base structure influence managerial risk-taking incentives?". Journal of Financial Economics, accepted.
Pohl, Walter, Karl Schmedders, Ole Wilms, 2021. “Asset pricing with heterogeneous agents and long-run risk”. Journal of Financial Economics, forthcoming.
Yuferova, Darya, Mathijs Van Dijk, Dominik Rösch, Richard Roll, Dion Bongaerts, 2021. "How Do Shocks Arise and Spread Across Stock Markets? A Microstructure Perspective". Management Science, forthcoming
Eckbo, B. Espen, Knut Nygaard and Karin S. Thorburn, 2021. “Valuation Effects of Norway's Board gender-Quoata Law Revisited”. Management Science, forthcoming
Eckbo, B. Espen and Michael Kisser, 2021. "The Leverage-Profitability Puzzle Resurrected". Review of Finance, forthcoming
Eckbo, B. Espen and Michael Kisser, 2021. "Tradeoff theory and leverage dynamics of high-frequency debt issuers". Review of Finance, forthcoming
de Bodt, Eric, 2021. "International Trade and the Propagation of Merger Waves". The Review of Financial Studies, forthcoming.
2020
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, 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, Li Zhang, 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, 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.
-
All publications
All publications
For a full publication list from NHH's Department of Finance, go to: