Haku
Viitteet 1-10 / 51
Do managerial risk-taking incentives influence firms’ exchange rate exposure?
(05.08.2017)
Bank of Finland Research Discussion Papers 16/2017
Bank of Finland Research Discussion Papers 16/2017
There is scant evidence on how risk-taking incentives impact specific firm risks. This has implications for board oversight of managerial risk taking, firms’ development of comparative advantage in taking particular risks, ...
The impacts of intellectual property rights protection on cross-border M&As
(06.08.2017)
Bank of Finland Research Discussion Papers 17/2017
Bank of Finland Research Discussion Papers 17/2017
We investigate the impacts of improved intellectual property rights (IPR) protection on cross-border M&A performance. Using multiple measures of IPR protection and based on generalized difference-in-differences estimates, ...
The risk-taking channel of monetary policy in the US : Evidence from corporate loan data
(07.08.2017)
Bank of Finland Research Discussion Papers 18/2017
Bank of Finland Research Discussion Papers 18/2017
To study the presence of a risk-taking channel in the US, we build a comprehensive dataset from the syndicated corporate loan market and measure monetary policy using different measures, most notably Taylor (1993) and Romer ...
Bond finance, bank credit, and aggregate fluctuations in an open economy
(05.08.2016)
Bank of Finland Research Discussion Papers 22/2016
Bank of Finland Research Discussion Papers 22/2016
Corporate sectors in emerging markets have noticeably increased their reliance on foreign financing, presumably reflecting low global interest rates. The evidence also shows a rebalancing from bank loans towards bonds. To ...
The effect of foreign institutional ownership on corporate tax avoidance: international evidence
(23.08.2016)
Bank of Finland Research Discussion Papers 26/2016
Bank of Finland Research Discussion Papers 26/2016
This study examines whether foreign institutional investors (FIIs) help explain variation in corporate tax avoidance and whether mechanisms such as tax morality, investment horizon, and corporate governance underlie the ...
Does government and corporate saving influence household saving in Finland?
(19.12.1990)
Bank of Finland Research Discussion Papers 27/1990
Bank of Finland Research Discussion Papers 27/1990
The aim of this paper is to empirically assess whether government and/or corporate sector saving influence aggregate household saving in Finland. The aim is carried out using quarterly data from the period 1960 - 1988. We ...
Enforceability of non-complete agreements : When does state stifle productivity?
(16.08.2017)
Bank of Finland Research Discussion Papers 24/2017
Bank of Finland Research Discussion Papers 24/2017
Non-compete agreements (also known as Covenants Not to Compete or CNCs) are frequently used by many businesses in an attempt to maintain their competitive advantage by safeguarding their human capital and the associated ...
Policy asymmetries, endogenous market structure with multinational corporations and the pattern of commodity trade
(22.11.1991)
Bank of Finland Research Discussion Papers 24/1991
Bank of Finland Research Discussion Papers 24/1991
The impact of asymmetries in trade and industrial policies on the market structure and location of firms and on the pattern of commodity trade are examined using a model in which firms have to take the decisions of other ...
Social capital and debt contracting : evidence from bank loans and public bonds
(20.11.2015)
Bank of Finland Research Discussion Papers 21/2015
Bank of Finland Research Discussion Papers 21/2015
We find that firms headquartered in U.S. counties with higher levels of social capital incur lower bank loan spreads. This finding is robust to using organ donation as an alternative social-capital measure and incremental ...
The life and death of zombies – evidence from government subsidies to firms
(14.05.2020)
Bank of Finland Research Discussion Papers 8/2020
Bank of Finland Research Discussion Papers 8/2020
We analyze the demographics of zombie firms and durations of zombie spells as well as their determinants, including an application on public subsidies using firm level population panel data from Finland. Firm-level analysis ...