Haku
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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, ...
Relative peer quality and firm performance
(12.04.2016)
Bank of Finland Research Discussion Papers 6/2016
Bank of Finland Research Discussion Papers 6/2016
This study examines the performance impact of the relative quality of a CEO’s compensation peers (peers selected to determine a CEO’s overall compensation) and bonus peers (peers selected to determine a CEO’s relative-p ...
CEO political preference and corporate tax sheltering
(08.04.2016)
Bank of Finland Research Discussion Papers 5/2016
Bank of Finland Research Discussion Papers 5/2016
We show that firms led by politically partisan CEOs are associated with a higher level of corporate tax sheltering than firms led by nonpartisan CEOs. Specifically, Republican CEOs are associated with more corporate tax ...
Biased beliefs, costly external finance, and firm behavior : A Unified theory
(09.09.2019)
Bank of Finland Research Discussion Papers 18/2019
Bank of Finland Research Discussion Papers 18/2019
Overconfidence and overextrapolation are two behavioral biases that are pervasive in human thinking. A long line of research documents that such biases influence business decisions by distorting managers' expected productivity. ...