Our scientific publications are registered in the national database Cristin.
Department of Finance
The Department of Finance has a strong international orientation, with faculty from leading schools in finance and economics. Our research is published in top journals and covers all areas of finance.
2024
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Tetiana Davydiuk, Tatyana Marchuk and Samuel Rosen
Direct Lenders in the U.S. Middle Market
Journal of Financial Economics. Forthcoming.
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Andreas Fagereng, Helene Onshuus and Kjersti N. Torstensen
The consumption expenditure response to unemployment: Evidence from Norwegian households
Journal of Monetary Economics. Forthcoming.
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Ragnar E. Juelsrud and Ella Getz Wold
The Importance of Unemployment Risk for Individual Savings
Management Science. Forthcoming.
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Jonathan Brogaard, Nataliya Gerasimova, and Maximilian Rohrer
The Effect of Female Leadership on Contracting from Capitol Hill to Main Street
Journal of Financial Economics. Forthcoming.
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Thomas Geelen, Jakub Hajda, Erwan Morellec and Adam Winegar
Asset Life, Leverage, and Debt Maturity Matching
Journal of Financial Economics. Forthcoming.
2023
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Spencer Andrews, Riccardo Colacito, Max Croce and Federico Gavazzoni
Concealed Carry
Journal of Financial Economics. Forthcoming.
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Costas Xiouros and Fernando Zapatero
Disagreement, Information Quality and Asset Prices
Journal of Financial Economics, Forthcoming.
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Tetiana Davydiuk, Tatyana Marchuk and Samuel Rosen
Market Discipline in the Direct Lending Space
Review of Financial Studies, Forthcoming.
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Iván Alfaro, Nick Bloom, and Xiaoji Lin
The Finance Uncertainty Multiplier
Journal of Political Economy, forthcoming.
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Stig Møller and Richard Priestley
The Role of the Discount Rate in Investment and Employment Decisions
Journal of Financial and Quantitative Analysis. 2023, vol. 58(2), pp. 914-938
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Gauti B. Eggertsson, Ragnar E. Juelsrud, Lawrence H. Summers & Ella Getz Wold
Negative Nominal Interest Rates and the Bank Lending Channel
Review of Economic Studies, forthcoming.
2022
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Sven Klingler and Suresh Sundaresan
Diminishing Treasury Convenience Premiums: Effects of Dealers' Excess Demand in Auctions
Journal of Monetary Economics, Forthcoming.
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Mariano (Max) Massimiliano Croce, Tatyana Marchuk and Christian Schlag
The Leading Premium
Review of Financial Studies, Forthcoming.
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Cooper, Ilan; Mitrache, Andreea; Priestley, Richard
A Global Macroeconomic Risk Model for Value, Momentum and Other Asset Classes
Journal of Financial and Quantitative Analysis, Vol. 57(1), pp. 1-30. 2022.
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Mike Burkart, Salvatore Miglietta, and Charlotte Ostergaard
Why Do Boards Exist? Governance Design in the Absence of Corporate Law
Review of Financial Studies. Forthcoming.
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Dagfinn Rime, Andreas Schrimpf, and Olav Syrstad
Covered Interest Parity Arbitrage
Review of Financial Studies. Volume 35, Issue 11, November 2022, Pages 5185–5227.
2021
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Eggertsson, Gauti; Robbins, Jacocb; Wold, Ella Getz
Kaldor and Piketty’s facts: The rise of monopoly power in the United States
Journal of Monetary Economics, Volume 124, Pages S19-S38. 2021
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Nicole Branger, Patrick Konermann, Christoph Meinerding, and Christian Schlag
Equilibrium Asset Pricing in Directed Networks
Review of Finance, 25(3), 777-818, 2021.
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Andreas Fagereng, Magne Mogstad and Marte Rønning
Why do Wealthy Parents Have Wealthy Children?
Journal of Political Economy, Vol 129, pp. 703-756, 2021
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Sven Klingler and Olav Syrstad
Life after Libor
Journal of Financial Economics, Volume 141 (2), pages 783-801, 2021.
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Chen, Zhanhui and Cooper, Ilan and Ehling, Paul and Xiouros, Costas
Risk Aversion Sensitive Real Business Cycles
Management Science. Volume 67(4), pp. 1993-2656. 2021
2020
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Andreas Fagereng, Luigi Guiso, Davide Malacrino & Luigi Pistaferri
Heterogeneity and Persistence in Returns to Wealth
Econometrica, Vol. 88, No.1, 115–170, 2020.
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Nicole Branger, Patrick Konermann and Christian Schlag
Optimists and Pessimists in (In)Complete Markets
Journal of Financial and Quantitative Analysis. 55(8), 2466-2499, 2020.
2019
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Ilan Cooper and Paulo Maio
Asset Growth, Profitability, and Investment Opportunities
Management Science, Volume 65(9), pp. 3949-4450. 2019.
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Ilan Cooper and Paolo Maio
New evidence on conditional factor models
Journal of Financial and Quantitative Analysis. Volume 54(5), pp. 1975 - 2016. 2019.
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Anatasov, Victoria; Muller, Stig; Priestley, Richard
Consumption Fluctuations and Expected Returns
Journal of Finance, Vol 73(3) p. 1677-1713. 2019
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Øyvind Bøhren, Bogdan Stacescu, Line Almli and Kathrine L. Søndergaard
When Does the Family Govern the Family Firm?
Journal of Quantitative and Financial Analysis. Volume 54(5), pp. 2085 - 2117. 2019.
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Sven Klingler and Suresh Sundaresan
An Explanation of Negative Swap Spreads: Demand for Duration from Underfunded Pension Plans
Journal of Finance, Volume 72 (2) , pages 675-710. 2019.
2018
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Paul Ehling, Alessandro Graniero, and Christian Heyerdahl-Larsen
Asset Prices and Portfolio Choice with Learning from Experience
Review of Economic Studies, Volume 85, Issue 3, Pages 1752–1780, 2018.
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Sven Klingler and David Lando
Safe Haven CDS Premiums
Review of Financial Studies. Volume 31 (5), pages 1856-1895. 2018.
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Espen Henriksen and Thomas Cooley
The Demographic Deficit
Journal of Monetary Economics, Vol. 93, January 2018, Pages 45-62.
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Renee B. Adams, Matti Keloharju and Samuli Knüpfer
Are CEOs Born Leaders? Lessons from Traits of a Million Individuals
Journal of Financial Economics. Volume 130(2), 392-408, 2018.
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Paul Ehling, Michael F. Gallmeyer, Sanjay Srivastava, Stathis Tompaidis, and Chunyu Yang
Portfolio Tax Trading with Carry-Over Losses
Management Science. Volume 64, Pages 3971-4470, 2018.
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Hamid Boustanifar, Rett Grant and Ariell Reshef
Wages and Human Capital in Finance: International Evidence, 1970-2011
Review of Finance. Volume 22, pp. 699–745, 2018.
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Janis Berzins, Øyvind Bøhren and Bogdan Stacescu
Shareholder Conflicts and Dividends
Review of Finance. 22, pp. 1807-1840, 2018.
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Paul Ehling, Michael F. Gallmeyer, Christian Heyerdahl-Larsen and Philipp Illeditsch
Disagreement about inflation and the yield curve
Journal of Financial Economics. Volume 127, Issue 3, Pages 459-484, 2018.
2017
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Ingolf Dittmann, Ko-Chia Yu and Danielle Zhang
How Important are Risk-Taking Incentives in Executive Compensation?
Review of Finance. Volume 21(5), 1805-1846, 2017. (lead article)
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Samuli Knüpfer, Elias Henrikki Rantapuska and Matti Sarvimäki.
Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression
Journal of Finance. Volume 72(1), pp. 133-166. 2017.
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Paul Ehling, Christian Heyerdahl-Larsen
Correlations
Management Science. Volume 63, pp. 1919-1937, 2017.
2016
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Ibolya Schindele, Bent Vale and Charlotte Østergaard
Social Capital and the Viability of Nonprofit Firms: Evidence from Savings Banks
Review of Finance, Volume 29(5), 1673-1718. 2016. (lead article)
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Juan-Pedro Gomez, Richard Priestley, Fernando Zapatero
Labor Income, Relative Wealth Concerns, and the Cross-Section of Stock Returns
Journal of Financial and Quantitative Analysis. Volume 51(4) pp. 1111-1133, 2016.
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Ilan Cooper and Richard Priestley
The Expected Returns and Valuations of Private and Public Firms
Journal of Financial Economics. Volume 120(1) pp. 41-57, 2016.
2015
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Mark Grinblatt, Seppo Ikäheimo, Matti Keloharju and Samuli Knüpfer
IQ and Mutual Fund Choice
Management Science. Volume 62(4), pp. 924-944. 2015.
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Esther Eiling and Bruno Gerard
Emerging equity market comovements: trends and macroeconomic fundamentals
Review of Finance. Volume 19(4), p. 1543-1585. 2015.
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Marcel Fratzscher, Dagfinn Rime, Lucio Sarno and Gabriele Zinna
The Scapegoat Theory of Exchange Rates: The First Tests
Journal of Monetary Economics, vol. 70, pp. 1-21, 2015.
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Markku Kaustia, Samuli Knüpfer and Sami Torstila
Stock Ownership and Political Behavior: Evidence from Demutualizations
Management Science. Volume 62(4), pp. 945-963. 2015.
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Øyvind Norli; Charlotte Ostergaard; Ibolya Schindele
Liquidity and Shareholder Activism
Review of Financial Studies. Volume 28(2), p.486-520. 2015.
2014
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Karapetyan, Artashes; Stacescu, Bogdan
Information Sharing and Information Acquisition in Credit Markets
Review of Finance. Volume 18(4), p.1583-1615. 2014.
2013
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Cooper, Ilan; Priestley, Richard
The World Business Cycle and Expected Returns
Review of Finance. Vol, 17.(3) p. 1029-106. 2013.
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Roche, Hervé; Tompaidis, Stathis; Yang, Chunyu
Why does junior put all his eggs in one basket? A potential rational explanation for holding concentrated portfolios
Journal of Financial Economics 2013. Vol, 109.(3) p. 775-796. 2013.
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Berzins, Janis; Trzcinka, Charles; Liu, Crocker
Asset management and investment banking
Journal of Financial Economics. Volume 110.(1) p. 215-231. 2013.
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Espen Henriksen, Finn Kydland and Roman Šustek
Globally Correlated Nominal Fluctuations
Journal of Monetary Economics, Volume 60(6), pp. 613-631, 2013.
2012
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Chen, Long; Da, Zhi; Priestley, Richard
Dividend Smoothing and Predictability
Management Science. Vol, 58.(10) p. 1834-1853, 2012.
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Eiling, Esther; Gerard, Bruno; de Roon, Frans
Euro-zone equity returns: country versus industry effects
Review of Finance 2012. Vol, 16.(3) p. 755-798.
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Garcia, Diego; Norli, Øyvind
Geographic dispersion and stock returns
Journal of Financial Economics 2012. Vol, 106.(3) p. 547-565.
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Garrett, I.; Priestley, Richard
Dividend Growth, Cash Flow and Discount Rate News
Journal of Financial and Quantitative Analysis 2012. Vol, 47.(5) p. 1003-1028.
2011
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Cooper, Ilan; Priestley, Richard
Real Investment and Risk Dynamics
Journal of Financial Economics 2011. Vol, 101.(1) p. 182-205.
2010
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Xiouros, Costas; Zapatero, Fernando
The Representative Agent of an Economy with External Habit Formation and Heterogeneous Risk Aversion
Review of Financial Studies 2010. Vol, 23.(8) p. 3017-3047.
2009
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Gómez, Juan-Pedro; Priestley, Richard; Zapatero, Fernando
Implications of Keeping-Up-with-the-Joneses Behavior for the Equilibrium Cross Section of Stock Returns: International Evidence
Journal of Finance 2009. Vol, 64.(6) p. 2703-273.
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Cooper, Ilan; Priestley, Richard
Time-Varying Risk Premiums and the Output Gap
Review of Financial Studies 2009. Vol, 22.(7) p. 2801-2833. Review of Financial Studies 2009. Vol, 22.(7) p. 2801-2833.
2008
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Aunon-Nerin, Daniel; Ehling, Paul
Why firms purchase property insurance
Journal of Financial Economics 2008. Vol, 90.(3) p. 298-312.
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David K. Backus, Espen Henriksen and Kjetil Storesletten
Taxes and the global allocation of capital
Journal of Monetary Economics, Volume 55(1), pp. 48-61, 2008.
2007
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Edmans, Alex; Garcia, Diego; Norli, Øyvind
Sports Sentiment and Stock Returns
Journal of Finance 2007. Vol, 62.(4) p. 1967-1998
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Demyanyk, Yuliya; Ostergaard, Charlotte; Sørensen, Bent E.
U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income
Journal of Finance 2007. Vol, 62.(6) p. 2763-2801.
2006
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Hardouvelis, G.A.; Malliaropulos, D.; Priestley, Richard
EMU and European stock market integration
Journal of Business 2006. Vol, 79.(1) p. 365-392
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Cooper, Ilan
Asset pricing implications of nonconvex adjustment costs and irreversibility of investment
Journal of Finance 2006. Vol, 61.(1) p. 139-170.
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Gerard, Bruno; Wu, Gengshu
How important is intertemporal risk for asset allocation?
Journal of Business 2006. Vol, 79.(4) p. 2203-2241
2005
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Bjønnes, Geir Høidal; Rime, Dagfinn
Dealer behavior and trading systems in foreign exchange markets
Journal of Financial Economics 2005. Vol, 75.(3) p. 571-605
2003
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Ongena, Steven; Smith, David; Michalsen, Dag
Firms and their distressed banks: lessons from the Norwegian banking crisis
Journal of Financial Economics 2003. Vol, 67. p. 81-112
2002
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Nyborg, Kjell G.; Rydqvist, Kristian; Sundaresan, Suresh M.
Bidder Behavior in Multiunit Auctions - Evidence from Swedish Treasury Auctions
Journal of Political Economy 2002. Vol, 110.(2) p. 394-424
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Ostergaard, Charlotte; Sørensen, Bent E.; Yosha, Oved
Consumption and Aggregate Constraints: Evidence from U.S. States and Canadian Provinces
Journal of Political Economy 2002. Vol, 110.(3) p. 634-645
2000
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Garrett, I.; Priestley, Richard
Dividend Behaviour and Dividend Signaling
Journal of Financial and Quantitative Analysis 2000. Vol, 35.(2) p. 173-189
1999
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Rydqvist, Kristian; Green, Rick
Ex-Day Behavior with Dividend Preference and Limitations to Short-Term Arbitrage: The Case of Swedish Lottery Bonds
Journal of Financial Economics 1999. Vol, 53. p. 145-187
1997
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Bøhren, Øyvind; Eckbo, Espen B.; Michalsen, Dag
Why underwrite rights offerings? Some new evidence
Journal of Financial Economics 1997. Vol, 46. p. 223-261
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Green, Richard C.; Ødegaard, Bernt A.
Are There Tax Effects in the Relative Pricing of U.S. Government Bonds?
Journal of Finance 1997. Vol, 52. p. 609-633