Recent publications of the Department of Finance and Statistics, subject Finance
In the research database you will find all research activity.
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2019 'Learning Chinese? The changing investment behavior of foreign institutions in the Chinese stock market' International Review of Financial Analysis, vol 64, no. July, pp. 190-203. https://doi.org/10.1016/j.irfa.2019.05.011
2019 'Expected and realized returns in conditional asset pricing models: A new testing approach' Journal of Empirical Finance, vol 52, no. June, pp. 220-236. https://doi.org/10.1016/j.jempfin.2019.04.001
2019 'Cost behavior around corporate tax rate cuts' Journal of International Accounting, Auditing and Taxation, vol 34, no. March, pp. 1-11. https://doi.org/10.1016/j.intaccaudtax.2019.01.001
2018 'Asset Growth, Profitability, and Investment Opportunities' Management Science, https://doi.org/10.1287/mnsc.2018.3036
2018 'Asymmetric Fund Performance Characteristics - A comparison of European and US Large-Cap Funds' Multinational Finance Journal, vol 21, no. 1, pp. 1-20.
2018 'Do bidders pay cash for underleveraged targets?' Economics Bulletin, vol 39 , no. 1, pp. 547-553 .
2018 'National Culture and Takeover Contest Outcomes' The Financial Review, vol 53, no. 3, pp. 605-625. https://doi.org/10.1111/fire.12158
2018 'Adaptive and online network intrusion detection system using clustering and Extreme Learning Machines' Journal of the Franklin Institute : Engineering and Applied Mathematics, vol 355, no. 4, pp. 1752-1779. https://doi.org/10.1016/j.jfranklin.2017.06.006
2018 'A robust and powerful test of abnormal stock returns in long-horizon event studies' Journal of Empirical Finance, vol 47, no. June, pp. 1-24. https://doi.org/10.2139/ssrn.2292356
2018 'Interest rate risk management with debt issues: Evidence from Europe' Journal of financial stability, vol 36, no. June, pp. 1-11. https://doi.org/10.1016/j.jfs.2018.01.003
2018 'Is earnings management sensitive to discount rates?' Journal of Accounting Literature, vol 41, no. December, pp. 75-88. https://doi.org/10.1016/j.acclit.2018.03.001
2018 'Sustainable competitive advantage and profitability persistence: Sources versus outcomes for assessing advantage' Journal of Business Research, vol 84, pp. 100-113. https://doi.org/10.1016/j.jbusres.2017.10.051
2018 'Per-sample prediction intervals for extreme learning machines' International Journal of Machine Learning and Cybernetics, pp. 1-11. https://doi.org/10.1007/s13042-017-0777-2
2018 'Global leverage adjustments, uncertainty, and country institutional strength' Journal of Financial Intermediation, vol 35, no. Part A, pp. 41-56. https://doi.org/10.1016/j.jfi.2018.01.010
2018 'Stock market listing status and real earnings management' Journal of Accounting and Public Policy, vol 37, no. 5, pp. 420-435. https://doi.org/10.1016/j.jaccpubpol.2018.09.002
2018 'Corporate social responsibility, firm value, and influential institutional ownership' Journal of corporate finance, vol 52, no. October, pp. 73-95. https://doi.org/10.1016/j.jcorpfin.2018.07.004
2018 'Economic activity and momentum profits' Journal of Banking and Finance, vol 88, no. March, pp. 466-482. https://doi.org/10.2139/ssrn.2257869
2018 'New Evidence on Conditional Factor Models' Journal of Financial and Quantitative Analysis, https://doi.org/10.1017/S0022109018001606
2017 'Credit supply, post-acquisition performance and financial constraints' Applied Economics Letters, vol 25, no. 20, pp. 1421-1425. https://doi.org/10.1080/13504851.2017.1422598
2017 'Extreme Learning Machines for VISualization+R' Cognitive Computation, vol 10, no. 3, pp. 464-477. https://doi.org/10.1007/s12559-017-9537-6
2017 'Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections' Journal of Financial and Quantitative Analysis, vol 52, no. 6, pp. 2523-2564. https://doi.org/10.1017/S0022109017000862
2017 'Evaluating publications across business disciplines: Inferring interdisciplinary "exchange rates" from intradisciplinary author rankings' Journal of Business Research, vol 84, pp. 220-232. https://doi.org/10.1016/j.jbusres.2017.11.024
2017 'The new issues puzzle revisited: The role of firm quality in explaining IPO returns' Economics letters, vol 159, no. October , pp. 88-91. https://doi.org/10.1016/j.econlet.2017.07.022
2017 'Financial versus strategic bidders: Evidence from unsuccessful takeover bids' Economics letters, vol 159, no. October, pp. 142-144. https://doi.org/10.1016/j.econlet.2017.07.034
2017 'Short-Term Interest Rates and Stock Market Anomalies' Journal of Financial and Quantitative Analysis, vol 52, no. 3, pp. 927-961. https://doi.org/10.1017/S002210901700028X
2017 'Female executives and corporate governance' Managerial Finance, vol 43, no. 10, pp. 1056-1072. https://doi.org/10.1108/MF-04-2016-0098
2017 'CEO's total wealth characteristics and implications on firm risk' International Review of Finance, vol 18, no. 1, pp. 35-58. https://doi.org/10.1111/irfi.12139
2017 'Bond market access and acquisitions: empirical evidence from the European market' The European Journal of Finance, vol 24, no. 6, pp. 478-498. https://doi.org/10.1080/1351847X.2017.1323771
2017 'CEO power and matching leverage preferences' Journal of corporate finance, vol 45, no. August, pp. 19-30. https://doi.org/10.1016/j.jcorpfin.2017.04.007
2017 'Political environment, financial intermediation costs, and financing patterns' Journal of corporate finance, vol 44, no. June, pp. 167-192. https://doi.org/10.1016/j.jcorpfin.2017.03.007
2017 'Do constraints on financial and operating leverage affect the performance of Islamic equity portfolios?' Pacific-Basin Finance Journal, vol 42, no. April, pp. 171-182. https://doi.org/10.1016/j.pacfin.2017.02.009
2017 'Tests for Abnormal Returns in the Presence of Event-Induced Cross-Sectional Correlation' Journal of Financial Econometrics, vol 15, no. 2, pp. 286-301. https://doi.org/10.1093/jjfinec/nbw012
2017 'Open Market Repurchase Programs - Evidence from Finland' International Journal of Economics and Finance, vol 9, no. 12, pp. 13-23. https://doi.org/10.5539/ijef.v9n12p13
2017 'The way we live now: Financialization and securitization' Research in International Business and Finance, vol 39, Part B, no. January, pp. 663-677. https://doi.org/10.1016/j.ribaf.2015.11.019
2017 'Quality at a reasonable price: The role of investors’ portfolio weights' Nordic Journal of Business, vol 66, no. 1, pp. 4-28.
2017 'Are momentum crashes pervasive regardless of strategy? Evidence from the foreign exchange market' Applied Economics Letters, vol 24, no. 20, pp. 1499-1503 . https://doi.org/10.1080/13504851.2017.1287852
2016 'Asymmetries of the intraday return-volatility relation' International Review of Financial Analysis, vol 48, no. December, pp. 182-192. https://doi.org/10.1016/j.irfa.2016.09.016
2016 'Uncertainty and firm dividend policy – a natural experiment' Journal of corporate finance, vol 42, no. February, pp. 179-197. https://doi.org/10.1016/j.jcorpfin.2016.11.008
2016 'Governance and bank characteristics in the credit and sovereign debt crises – the impact of CEO power' Journal of financial stability, vol 27, no. December, pp. 59-73. https://doi.org/10.1016/j.jfs.2016.09.003
2016 'Adding reliability to ELM forecasts by confidence intervals' Neurocomputing, vol 219, no. January, pp. 232-241. https://doi.org/10.1016/j.neucom.2016.09.021
2016 'Airline Fuel Hedging and Management Ownership' The Journal of Risk Finance, vol 17, no. 5, pp. 492-509. https://doi.org/10.1108/JRF-06-2016-0077
2016 'A heuristical solution method to separable nonlinear programming problems' International Journal of Mathematics in Operational Research, vol 9, no. 2, pp. 230-242. https://doi.org/10.1504/IJMOR.2016.078002
2016 'Global optimisation of a portfolio adjustment problem under credibility measures' International Journal of Operational Research, vol 25, no. 4, pp. 464-474. https://doi.org/10.1504/IJOR.2016.075292
2016 'ELMVIS+: Fast nonlinear visualization technique based on cosine distance and extreme learning machines' Neurocomputing, vol 205, no. September , pp. 247-263. https://doi.org/10.1016/j.neucom.2016.04.039
2016 'Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?' Journal of Business Ethics, vol 148, no. 3, pp. 489–510 . https://doi.org/10.1007/s10551-015-2949-x
2016 'Identifying portfolio-based systematic risk factors in equity markets' Finance Research Letters, vol 17, no. May, pp. 88-92. https://doi.org/10.1016/j.frl.2016.01.010
2016 'Short term announcement returns to the bidder' European Journal of Economics and Management, vol 3, no. 2, pp. 29-57.
2016 'Bidder's Gain in Public M&A Transactions: Does Size Matter?' International Journal of Economics and Finance, vol 8, no. 5, pp. 1-12. https://doi.org/10.5539/ijef.v8n5p1
2016 'European board structure and director expertise: The impact of quotas' Research in International Business and Finance, vol 39, Part A, no. January, pp. 486-501. https://doi.org/10.1016/j.ribaf.2016.09.004
2015 'Short-term expectation in listed firms: The effects of different owner types' Journal of International Financial Management & Accounting, vol 26, no. 3, pp. 223-256. https://doi.org/10.1111/jifm.12028
2015 'Macro variables and the components of stock returns' Journal of Empirical Finance, vol 33, pp. 287-308. https://doi.org/10.1016/j.jempfin.2015.03.004
2015 'Institutional investors and foreign exchange risk' Quarterly Journal of Finance, vol 5, no. 3, https://doi.org/10.1142/S2010139215500135
2015 'Manifold learning in local tangent space via extreme learning machine' Neurocomputing, vol 174, Part A, no. January , pp. 18-30. https://doi.org/10.1016/j.neucom.2015.03.116
2015 'Comparison of combining methods using Extreme Learning Machines under small sample scenario' Neurocomputing, vol 174, Part A, no. January, pp. 4-17. https://doi.org/10.1016/j.neucom.2015.03.109
2015 'Extreme learning machine for missing data using multiple imputations' Neurocomputing, vol 174, Part A, no. January , pp. 220-231. https://doi.org/10.1016/j.neucom.2015.03.108
2015 'Efficient Skin Segmentation via Neural Networks: HP-ELM and BD-SOM' Procedia Computer Science, vol 53, pp. 400-409. https://doi.org/10.1016/j.procs.2015.07.317
2015 'Brain MRI morphological patterns extraction tool based on Extreme Learning Machine and majority vote classification' Neurocomputing, vol 174, Part A, no. January , pp. 344-351. https://doi.org/10.1016/j.neucom.2015.03.111
2015 'Initial stage clustering when estimating accounting quality measures with self-organizing maps' Expert Systems with Applications, vol 42, no. 21, pp. 8327-8336. https://doi.org/10.1016/j.eswa.2015.06.049
2015 'Investor attention to the Eurozone crisis and herding effects in national bank stock indexes' Finance Research Letters, vol 14, pp. 111-116. https://doi.org/10.1016/j.frl.2015.05.009
2015 'Arbitrary Category Classification of Websites Based on Image Content' IEEE Computational Intelligence Magazine, vol 10, no. 2, pp. 30-41. https://doi.org/10.1109/MCI.2015.2405317
2015 'Securitization: a financing vehicle for all seasons?' Journal of Business Ethics, vol 138, no. 3, pp. 559-577. https://doi.org/10.1007/s10551-015-2636-y
2015 'What drives the stock market growth? A case of a volatile emerging economy' Emerging Markets Finance and Trade, vol 51, no. 1, pp. 209-223. https://doi.org/10.1080/1540496X.2015.1011533
2015 'SOM-ELM—Self-Organized Clustering using ELM' Neurocomputing, vol 165, no. October, pp. 238-254. https://doi.org/10.1016/j.neucom.2015.03.014
2015 'MD-ELM: Originally Mislabeled Samples Detection using OP-ELM Model' Neurocomputing, vol 159, no. July, pp. 242-250. https://doi.org/10.1016/j.neucom.2015.01.055
2015 'Do dividends signal future earnings in the Nordic stock markets?' Review of Quantitative Finance and Accounting, vol 44, no. 3, pp. 493-511. https://doi.org/10.1007/s11156-013-0415-3
2015 'A neural network approach to measure real activities manipulation' Expert Systems with Applications, vol 42, no. 5, pp. 2313-2322. https://doi.org/10.1016/j.eswa.2014.10.047
2015 'Acquirer performance when founders remain in the firm' Pacific-Basin Finance Journal, vol 35 (2015) , no. Part A, pp. 273-297. https://doi.org/10.1016/j.pacfin.2015.01.006
2015 'A comparison among various dimensions of illiquidity effect:' Research in International Business and Finance, vol 33, no. january 2015, pp. 204-220. https://doi.org/10.1016/j.ribaf.2014.09.002
2015 'An economic production quantity problem with backorders and fuzzy cycle times' Journal of Intelligent and Fuzzy Systems, vol 28, no. 4, pp. 1861-1868. https://doi.org/10.3233/IFS-141472
2015 'Cross-sectional return dispersion and the equity premium' Journal of Financial Markets, vol 29, no. June, pp. 87-109. https://doi.org/10.1016/j.finmar.2015.09.001
2015 'Shareholder protection, ownership, and dividends: Russian evidence' Emerging Markets Finance and Trade, vol 52, no. 10, pp. 2414-2433. https://doi.org/10.1080/1540496X.2015.1073991
2015 'Ownership and corporate governance in Finland: A review of development trends' Nordic Journal of Business, vol 64, no. 4, pp. 232-248.
2015 'The Market Price of Credit Risk and Economic States' Empirical Economics, pp. 1-24. https://doi.org/10.1007/s00181-015-0952-9
2015 'High-Performance Extreme Learning Machines' IEEE Access, vol 3, pp. 1011-1025. https://doi.org/10.1109/ACCESS.2015.2450498
2015 'Pyramid IPOs on the Chinese Growth Enterprise Market' Emerging Markets Finance and Trade, vol 51, no. 1, pp. 160-173 . https://doi.org/10.1080/1540496X.2015.1011526
2015 'Intermediate-term momentum and credit rating' Finance Research Letters, vol 15, pp. 59-67. https://doi.org/10.1016/j.frl.2015.08.004
2015 'Information arrival, jumps and cojumps in European financial markets: Evidence using tick by tick data' Multinational Finance Journal, vol 18, no. 3/4, pp. 169-213.
2015 'Dividend Yields, Dividend Growth, and Return Predictability in the Cross-Section of Stocks' Journal of Financial and Quantitative Analysis, vol 50, no. 1/2, pp. 33-60. https://doi.org/10.1017/S0022109015000058
2015 'Capital Structure Policy Decisions in Nordic Listed Firms' Nordic Journal of Business, vol 64, no. 1, pp. 4.
2015 'Securitization in China: Déjà Vu?' The Journal of Structured Finance , vol 21, no. 3, pp. 36-50.
2015 'Application of continuous-time random walk to statistical arbitrage' JOURNAL OF ENGINEERING SCIENCE AND TECHNOLOGY REVIEW, vol 8, no. 1, pp. 91-95.
2014 'Price formation modelling by continuous-time random walk: an empirical study' JOURNAL OF ENGINEERING SCIENCE AND TECHNOLOGY REVIEW, vol 8, no. 1, pp. 12-15.
2014 'Portfolio concentration and firm performance' Journal of Financial and Quantitative Analysis, vol 49, no. 4, pp. 903-931. https://doi.org/10.1017/S0022109014000635
2014 'Chairmens' Perceptions of Female Board Representation: A Study of Nordic Listed Companies' Equality, Diversity and Inclusion: An International Journal, vol 33, no. 6, pp. 523-534. https://doi.org/10.1108/EDI-11-2012-0107
2014 'Dividend policy in Nordic listed firms' Global Finance Journal, vol 25, no. 2, pp. 124-135. https://doi.org/10.1016/j.gfj.2014.06.004
2014 'Specification errors of asset-pricing models for a market characterized by few large capitalization firms' Journal of Economics and Finance, https://doi.org/10.1007/s12197-014-9297-z
2014 'Market conditions and time-varying conditional correlations' Applied Finance Letters, vol 3, no. 1, pp. 22-27.
2014 'Decoupling by clienteles and by time in the financial markets: The case of two-stage stock-financed mergers' Journal of corporate finance, vol 25, pp. 360-375. https://doi.org/10.1016/j.jcorpfin.2014.01.001
2014 'Don’t fight the Fed!' Review of Finance, vol 18, no. 2, pp. 623-679. https://doi.org/10.1093/rof/rft005
2014 'Liquidity and asset prices: An empirical investigation from the Nordic stock markets' European Financial Management, https://doi.org/10.1111/EUFM.12041
2014 'Executive compensation structure and the motivations for seasoned equity offerings' Journal of Banking & Finance, vol 40, pp. 330-345. https://doi.org/10.1016/j.jbankfin.2013.12.003
2014 'A fuzzy milp-model for the optimization of vehicle routing problem' Journal of Intelligent and Fuzzy Systems, vol 26, no. 3, pp. 1349-1361. https://doi.org/10.3233/IFS-130821
2014 'Do Option-like Incentives Induce Overvaluation? Evidence from Experimental Asset Markets' Journal of Economic Dynamics and Control, vol 40, no. March 2014, pp. 179-194. https://doi.org/10.1016/j.jedc.2014.01.002
2014 'Rank Matters-The impact of social competition on portfolio choice' European Economic Review, vol 66, pp. 97-110. https://doi.org/10.1016/j.euroecorev.2013.11.010
2014 'Evaluation of an information systems investment into reducing the bullwhip effect – a three-step process' International Journal of Logistics Systems and Management, vol 17, no. 3, pp. 340-356. https://doi.org/10.1504/IJLSM.2014.059766
2014 'Do anti-takeover devices affect the takeover likelihood or the takeover premium?' The European Journal of Finance, vol 20, no. 4, pp. 319-340. https://doi.org/10.1080/1351847X.2012.703141
2014 'Financial Variables and Economic Activity in the Nordic Countries' International Review of Economics & Finance, vol 37, pp. 368–379. https://doi.org/10.1016/j.iref.2014.12.008
2014 'The Financial cost of rivalry: A tale of two South Asian neighbours' Emerging Markets Finance and Trade, vol 50, no. Supplement 3, pp. 35-60. https://doi.org/10.2753/REE1540-496X5003S303
2014 'The Equity Performance of U.S. Firms Emerging from Chapter 11 Bankruptcy' International Journal of Business and Social Research, vol 4, no. 1, pp. 19-30.
2014 'Firm Expansion and Stock Price Momentum' Review of Finance, vol 18, no. 4, pp. 1465-1505. https://doi.org/10.1093/rof/rft034
2014 'The effect of lock-ups on suggested real estate portfolio weight' International Real Estate Review, vol 17, no. 1, pp. 1-22.
2014 'Are female CEOs and Chairwomen more conservative and risk averse? Evidence from the banking industry during the financial crisis.' Journal of Business Ethics, vol 131, no. 3, pp. 577-594. https://doi.org/10.1007/s10551-014-2288-3
2014 'Executive turnover, gender, and earnings management' Accounting Perspectives, vol 13, no. 2, pp. 103-122. https://doi.org/10.1111/1911-3838.12029
2014 'CEO and Chairperson characteristics and firm performance' Journal of Management & Governance, vol 18, no. 1, pp. 185-205. https://doi.org/10.1007/s10997-012-9224-7
2014 'A Two-Stage Methodology Using K-NN and False-Positive Minimizing ELM for Nominal Data Classification' Cognitive Computation, vol 6, no. 3, pp. 432-445. https://doi.org/10.1007/s12559-014-9253-4
2014 'Credit ratings and information asymmetry on the Chinese syndicated loan market' China Economic Review (Amsterdam) , vol 31, pp. 1-16. https://doi.org/10.1016/j.chieco.2014.08.001
2014 'Foreign institutional investor trading in Chinese A–share markets' Managerial Finance, vol 40, no. 10, pp. 1007-1023. https://doi.org/10.1108/MF-11-2013-0326
2014 'Back to the future: 900 years of securitization' The Journal of Risk Finance, vol 15, no. 4, pp. 316-333. https://doi.org/10.1108/JRF-04-2014-0040
2014 'Interest Rate Risk and the Cross-Section of Stock Returns' Journal of Financial and Quantitative Analysis, vol 49, no. 2, pp. 483-511. https://doi.org/10.1017/S0022109014000131
2014 'Improving international students’ understanding of local culture and financial institutions: A service learning application' Journal of International Education in Business, vol 7, no. 2, pp. 108-120. https://doi.org/10.1108/JIEB-10-2013-0041
2014 'Another Look at the Stock Return Response to Monetary Policy Actions' Review of Finance, vol 18, no. 1, pp. 321-371. https://doi.org/10.1093/rof/rfs050
2014 'Valuing “Raise Your Rate” certificates of deposit' Managerial Finance, vol 40, no. 9, pp. 864-882. https://doi.org/10.1108/MF-11-2013-0317
2013 'Clustering of the self-organizing time map' Neurocomputing, vol 121, no. 9, pp. 317-327. https://doi.org/10.1016/j.neucom.2013.04.007
2013 'Testing the Weak-Form Efficiency of the Finnish and Swedish Stock Markets' European journal of business and social sciences, vol 2, no. 9, pp. 176-185.
2013 'Return decomposition and the Intertemporal CAPM' Journal of Banking & Finance, vol 37, no. 12, pp. 4958–4972. https://doi.org/10.1016/j.jbankfin.2013.08.021
2013 'Familjeägande och börsbolagens prestation: En översikt' Ekonomiska Samfundets Tidskrift, vol 2013, no. 3,
2013 'Vuoden 2013 taloustieteen Nobel rahoitustutkijoille: Eugene F. Fama, Lars P. Hansen ja Robert J. Shiller' Kansantaloudellinen Aikakauskirja, vol 109, no. 4, pp. 463-466.
2013 'Where are they now? An analysis of the life cycle of convertible bonds' The Financial Review, vol 48, no. 3, pp. 489-509. https://doi.org/10.1111/fire.12012
2013 'Reforming corporate law in an emerging market' Economics of Transition, vol 21, no. 3, pp. 509-551. https://doi.org/10.1111/ecot.12020
2013 'The Power of Bootstrap Tests of Cointegration Rank' Computational Statistics, vol 28, no. 6, pp. 2719-2748. https://doi.org/10.1007/s00180-013-0425-6
2013 'Changes in cash holdings around the S&P 500 additions' Journal of Banking & Finance, vol 37, no. 5, pp. 1787-1807. https://doi.org/10.1016/j.jbankfin.2013.01.021
2013 'Determinants of capital budgeting methods and hurdle rates in Nordic firms' Accounting & Finance, vol 53, pp. 85-110. https://doi.org/10.1111/j.1467-629X.2011.00462.x
2013 'On policymakers’ loss functions and the evaluation of early warning systems' Economics letters, vol 119, no. 1, pp. 1-7. https://doi.org/10.1016/j.econlet.2012.12.030
2013 'Evidence for state and time nonseparable preferences: the case of Finland' Applied Financial Economics, vol 23, no. 24, pp. 1821-1838. https://doi.org/10.1080/09603107.2013.854297
2013 'Sell-Side Analysts and Gender: A Comparison of Performance, Behavior, and Career Outcomes' Financial Analysts Journal, vol 69, no. 2, pp. 83-94. https://doi.org/10.2469/faj.v69.n2.4
2013 'Intertemporal CAPM with conditioning variables' Management Science, vol 59, no. 1, pp. 122-141. https://doi.org/10.1287/mnsc.1120.1557
2013 'ELMVIS' IEEE Intelligent Systems, vol 28, no. 6, pp. 41-46.
2013 'Female Auditors and Accruals Quality' Accounting Horizons, vol 27, no. 2, pp. 205-228. https://doi.org/10.2308/acch-50400
2013 'Bank Corporate Governance and Real Estate Lending During the Financial Crisis' Journal of Real Estate Research, vol 35, no. 3, pp. 313-343.
2013 'The “Fed Model” and the Predictability of Stock Returns' Review of Finance, vol 17, no. 4, pp. 1489-1533. https://doi.org/10.1093/rof/rfs025
2013 'Valuation of innovation and intellectual property: The case of iPhone' European Management Review, vol 10, no. 4, pp. 197-210. https://doi.org/10.1111/emre.12016
2013 'Enhancing value in IT services offshoring: Real options matter' Asia-Pacific Journal of Risk and Insurance, vol 8, no. 1, pp. 123-147.
2013 'Drivers of holding period firm-level returns in private equity-backed buyouts' Journal of Banking & Finance, vol 37, no. 7, pp. 2378–2391. https://doi.org/10.1016/j.jbankfin.2013.01.042
2013 'Exchange rate shocks and firm competitiveness in small export-oriented countries: The case of Finland' Multinational Finance Journal, vol 17, no. 1/2, pp. 1-47.
2012 'Multifactor models and their consistency with the ICAPM' Journal of Financial Economics, vol 106, no. 3, pp. 586-613. https://doi.org/10.1016/j.jfineco.2012.07.001
2012 'Pricing Currency Risk in Two Interlinked Stock Markets' Applied Finance Letters, vol 1, no. 1, pp. 16-21.
2012 'IPO characteristics of index firms' Managerial Finance, vol 38, no. 12, pp. 1134-1159. https://doi.org/10.1108/03074351211271265
2012 'Primary market characteristics and secondary market frictions of stocks' Journal of Financial Markets, vol 15, no. 2, pp. 286-327. https://doi.org/10.1016/j.finmar.2011.11.001
2012 'Equity Premium Puzzle: A Finnish Review' International Journal of Economics and Finance, vol 4, no. 2, pp. 44-55. https://doi.org/10.2139/ssrn.1598748
2012 'Tender Offers versus Block Trades: Empirical Evidence' Managerial and Decision Economics, vol 33, pp. 511-529. https://doi.org/10.1002/mde.2563
2012 'Exchange risk and universal returns: A test of international arbitrage pricing theory' Pacific-Basin Finance Journal, vol 20, no. 1, pp. 24-40. https://doi.org/10.1016/j.pacfin.2011.08.003
2012 'Stock returns and macro risks: Evidence from Finland' Research in International Business and Finance, vol 26, no. 1, pp. 47-66. https://doi.org/10.1016/j.ribaf.2011.06.002
2012 'Portfolio returns and manager activity: How to decompose tracking error into security selection and market timing' Journal of Empirical Finance, vol 19, no. 3, pp. 349-358. https://doi.org/doi:10.1016/j.jempfin.2012.02.002
2012 'Auditor’s gender and audit fees' International Journal of Auditing, vol 16, no. 1, pp. 1-18. https://doi.org/10.1111/j.1099-1123.2011.00438.x
2012 'Did good corporate governance improve bank performance during the financial crisis?' Journal of Financial Services Research, vol 41, no. 1-2, pp. 19-35. https://doi.org/10.1007/s10693-011-0108-9
2012 'Pricing currency risk in the stock market' Journal of International Financial Markets, Institutions & Money, vol 22, no. 1, pp. 120-136. https://doi.org/10.1016/j.intfin.2011.08.002
2011 'Strategic waiting in the IPO markets' Journal of corporate finance, vol 17, no. 3, pp. 555-583. https://doi.org/10.1016/j.jcorpfin.2011.02.007
2011 'Ledare: Bostadspolitik' Ekonomiska Samfundets Tidskrift, vol 2/2011, pp. 91-92.
2011 'Intraday Trading Volume and International Spillover Effects' Research in International Business and Finance, vol 25, no. 2, pp. 183-194. https://doi.org/10.1016/j.ribaf.2010.09.002
2011 'Exchange rate exposure in the pre- and post-Euro periods: Evidence from Finland' The European Journal of Finance, vol 17, no. 8, pp. 661-674. https://doi.org/10.1080/1351847X.2010.543843
2011 'Cross-distributional robustness of conditional weekday effects: evidence from European equity-index returns' The European Journal of Finance, vol 17, no. 5-6, pp. 377-390. https://doi.org/10.1080/1351847X.2010.544474
2011 'Common and local asymmetry and day-of-the-week effects among EU equity markets' Quantitative Finance, vol 11, no. 2, pp. 219-227. https://doi.org/10.1080/14697680903311155
2011 'The Impact of Management and Board Ownership on Profitability in Banks with Different Strategies' Journal of Banking & Finance, vol 35, no. 12, pp. 3300-3318. https://doi.org/10.1016/j.jbankfin.2011.05.013
2011 'Simultaneous monetary policy announcements and international stock markets response: An intraday analysis' Journal of Banking & Finance, vol 35, no. 3, pp. 752-764. https://doi.org/10.1016/j.jbankfin.2010.09.002
2011 'The use of derivatives in Nordic firms' The European Journal of Finance, vol 17, no. 5-6, pp. 355-376. https://doi.org/10.1080/1351847X.2010.543836
2011 'Intraday Seasonalities and Macroeconomic News Announcements' European Financial Management, vol 17, no. 2, pp. 367-390. https://doi.org/10.1111/j.1468-036X.2009.00512.x
2011 'The Intraday behaviour of Bid-Ask spreads, Trading Volume and Return Volatility: Evidence from DAX30' International Journal of Economics and Finance, vol 3, no. 1, pp. 23-34.
2011 'Corporate Governance and Profitability in Famliy SMEs' The European Journal of Finance, vol 17, no. 5-6, pp. 391-408. https://doi.org/10.1080/1351847X.2010.543842
2011 'Distributional asymmetry of loadings on market co-moments' Journal of International Financial Markets, Institutions & Money, vol 21, no. 5, pp. 851-866. https://doi.org/10.1016/j.intfin.2011.06.006
2011 'What determines stock option contract design?' Journal of Financial Economics, vol 102, no. 2, pp. 293-316. https://doi.org/10.1016/j.jfineco.2011.02.021
2011 'Fund perfomance robustness - An evaluation using European large-cap equity funds' Frontiers in Finance and Economics, vol 8, no. 2, pp. 1-26.
2011 'Universal Returns, Exchange Risk, and Capital Asset Prices' International Review of Applied Financial Issues and Economics, vol 3, no. 2,
2011 'Interest rate sensitivity of the European stock markets before and after the euro introduction' Journal of International Financial Markets, Institutions & Money, vol 21, no. 5, pp. 811-831. https://doi.org/10.1016/j.intfin.2011.06.005
2011 'Private benefits of control and dual-class share unifications' Managerial and Decision Economics, vol 32, no. 6, pp. 355-369. https://doi.org/10.1002/mde.1538
2010 'Diversification, Refocusing and Firm Value' European Financial Management, vol 16, no. 3, pp. 422-448. https://doi.org/10.1111/eufm.2010.16.issue-3
2010 'Influential Ownership and Capital Structure' Managerial and Decision Economics, vol 31, no. 5, pp. 311-324.
2010 'Ledare: Finanstillsynens utmaningar i belysning av krisen' Ekonomiska Samfundets Tidskrift, vol 1/2010, pp. 3-4.
2010 'Stock Market Linkages and Financial Contagion' The Quarterly Review of Economics and Finance, vol 50, no. 2, pp. 10. https://doi.org/10.1016/j.qref.2009.12.004
2010 'With good reputation size does not matter: issue frequency and the determinants of debt maturity' Applied Financial Economics, vol 20, no. 9, pp. 701-718.
2010 'Tax reform and payout policy: Do shareholder clienteles or payout policy adjust?' Journal of corporate finance, vol 16, no. 4, pp. 572-587. https://doi.org/10.1016/j.jcorpfin.2009.12.003
2010 'Measuring potential market risk' Journal of financial stability, vol 6, pp. 180-186. https://doi.org/10.1016/j.jfs.2009.07.003
2010 'Style rotation and the performance of equity long/short hedge funds' Journal of Derivatives & Hedge Funds, vol 16, pp. 162-175. https://doi.org/10.1057/jdhf.2010.12
2010 'Female executives and earnings management' Managerial Finance, vol 36, no. 7, pp. 629-645. https://doi.org/10.1108/03074351011050343
2010 'Who creates short-term pressure? An analysis of firms with different ownership structures' Liiketaloudellinen aikakauskirja, vol 59, no. 3, pp. 239-264.
2009 'Instrument Rules in Monetary Policy under Heterogeneity in Currency Trade' Journal of Economics and Business, vol 61, no. 2, pp. 97-111.
2009 'Projections of pension fund solvency under alternative valuation regimes' SCANDINAVIAN ACTUARIAL JOURNAL, no. 9, pp. 239-251. https://doi.org/10.1080/03461230802281005
2009 'Market structure and the stability and volatility of electricity prices' Energy economics, vol 31, pp. 278-288. https://doi.org/10.1016/j.eneco.2008.11.006
2009 'Lemmings in the Bond Market? An empirical Analysis of the Term Structure of Credit Spreads' Financial Markets and Portfolio Management, vol 23, no. 1, pp. 31-57.
2009 'ANNOUNCEMENT EFFECTS ON EXCHANGE RATES' International journal of finance & economics, vol 14, no. 1, pp. 64-84. https://doi.org/RePEc:ijf:ijfiec:v:14:y:2009:i:1:p:64-84
2009 'Fundamentals and Technical Trading: Behavior of Exchange Rates in the CEECs' Open economies review, vol 20, no. 5, pp. 589-605. https://doi.org/10.1007/s11079-008-9095-3
2009 'Corporate ownership and managerial short-termism: results from a Finnish study of managerial perceptions' International Journal of Production Economics, vol 117, pp. 427-438. https://doi.org/10.1016/j.ijpe.2008.12.008
2009 'The impact of portfolio aggregation on day-of-the-week effects' Global Finance Journal, vol 20, no. 1, pp. 67-79.
2009 'International bond diversification strategies: the impact of currency, country, and credit risk' The European Journal of Finance, vol 15, no. 5&6, pp. 555-583. https://doi.org/10.1080/13518470902872376
2009 'Do Analysts Leak Information to Preferred Customers?' Corporate Ownership and Control, vol 6, no. 4, pp. 357.
2009 'Oligarchs, political regime changes, and firm valuation' Economics of Transition, vol 17, no. 3, pp. 411-438.
2009 'Is There Momentum in Cross-Sectional Anomalies?' The Journal of Wealth Management, vol 12, no. 3, pp. 78-88. https://doi.org/10.3905/JWM.2009.12.3.078
2008 'Cycles in the IPO market' Journal of Financial Economics, vol 89, no. 1, pp. 192-208. https://doi.org/10.1016/j.jfineco.2007.06.007
2008 'Bootstrap and Fast Double Bootstrap Tests of Cointegration Rank with Financial Time Series' Computational Statistics & Data Analysis, vol 52, pp. 4754-4767. https://doi.org/10.1016/j.csda.2008.03.025
2008 'Adaptive learning in an expectational difference equation with several lags: Selecting among learnable REE' European Financial Management, vol 14, pp. 99-117. https://doi.org/10.1111/j.1468-036X.2007.00436.x
2008 'Overconfidence and investor size' European Financial Management, vol 14, no. 1, pp. 82-98. https://doi.org/10.1111/j.1468-036X.2007.00405.x
2008 'Depression eller lågkonjunktur' Ekonomiska Samfundets Tidskrift,
2008 'Bankreglering' Ekonomiska Samfundets Tidskrift, no. 1,
2008 'Evidence of ex-dividend trading by investor tax category' The European Journal of Finance, vol 14, no. 1, pp. 1-21. https://doi.org/10.1080/13518470701773460
2008 'The Effect of 9/11 on the Stock Market Volatility Dynamics: Empirical Evidence from a Front Line State' International Research Journal of Finance and Economics, no. 16, pp. 71-83.
2008 'Stock market reaction to good and bad inflation news' The Journal of Financial Research, vol 31, no. 2, pp. 141-166.
2008 'Corporate Ownership, Control and the Informativeness of Disclosed Earnings in Russian Listed Firms' Corporate Ownership & Control, vol 6, no. 2, pp. 9-24.
2008 'Modeling common volatility characteristics and dynamic risk premia in European equity markets' The Quarterly Review of Economics and Finance, vol 48, pp. 567-578.
2008 'Intraday Return and Volatility Spillovers across International Equity Markets' International Research Journal of Finance and Economics, no. 22, pp. 205-220.
2007 'Spin-offs, Divestitures, and Conglomerate Investment' Review of Financial Studies, vol 20, no. 3, pp. 557-595. https://doi.org/10.1093/rfs/hhl022
2007 'International asset pricing models and currency risk' Journal of Banking & Finance, vol 31, no. 9, pp. 2571-2590. https://doi.org/10.1016/j.jbankfin.2006.09.013
2007 'The Impact of Corporate Governance Mechanisms on Value Increase in Leveraged Buyouts' Journal of corporate finance, vol 13, no. 4, pp. 511-537.
2007 'Advertising and mutual fund asset flows' International Journal of Bank Marketing, vol 25, no. 7, pp. 434-451. https://doi.org/10.1108/02652320710832603
2007 'Volatility driven changes in stock return correlation dynamics' Managerial Finance, vol 33, no. 3, pp. 220-235.
2007 'Phoenix rising: Legal reforms and changes in valuations in Finland during the conomic crisis' Journal of financial stability, vol 3, no. 1, pp. 33-58.
2007 'Ledare: Depression eller lågkonjunktur – beror på hur bankregleringen lyckas' Ekonomiska Samfundets Tidskrift, vol 1/2007, pp. 1-2.
2006 'The operating characteristics of leveraged buyouts' Liiketaloudellinen aikakauskirja, no. 3/2006,
2006 'How do different types of investors react to new earnings information?' Journal of Business Finance & Accounting, vol 33, no. (1)&(2), pp. 127-144. https://doi.org/10.1111/j.1468-5957.2006.01360.x
2006 'Garch forecasting performance under different distribution assumptions' Journal of Forecasting, vol 25, no. 8, pp. 561-578.
2006 'Share repurchases, dividends and executive options: The effect of dividend protection' European Financial Management, vol 12, no. 1, pp. 7-28.
2006 'Developments in Corporate Governance in Finland' International Journal of Disclosure and Governance, vol 3, no. 4, pp. 277-287.
2006 'Family ownership and firm performance' Journal of corporate finance, vol 12, no. 2, pp. 321-341. https://doi.org/10.1016/j.jcorpfin.2005.02.002
2006 'Corporate Performance, Corporate Governance, and Top Executive Turnover in Finland' European Financial Management, vol 12, no. 2, pp. 221-248.
2005 'Call Protection in Convertible Bonds: How Much and Why?' Journal of Investment Management, vol 3, no. 3, pp. 21-30.
2005 'Ledare: Strejker och politik' Ekonomiska Samfundets Tidskrift, vol 3/2005, pp. 123-124.
2005 'Effects of Law on Corporate Financing Practices - International Evidence from Convertible Bond Issues' Journal of corporate finance, vol 11, no. 5, pp. 809-831. https://doi.org/10.1016/j.jcorpfin.2004.10.003
2004 'Effects of Market Segmentation and Bank Concentration on Mutual Fund Expenses and Returns – Evidence from Finland' European Financial Management, vol 10, pp. 413-438. https://doi.org/10.1111/j.1354-7798.2004.00257.x
2004 'Convertible Bond Design and Capital Investment: The Role of Call Provisions' The Journal of Finance, vol 59, no. 1, pp. 391-405. https://doi.org/10.1111/j.1540-6261.2004.00636.x
2004 'Capital Investment Timing and Convertible Debt Financing' International Review of Economics & Finance, vol 13, no. 1, pp. 75-85. https://doi.org/10.1016/S1059-0560(03)00034-0
2002 'Testing for cointegration between international stock prices' Applied Financial Economics, vol 12, no. 12, pp. 851-861. https://doi.org/10.1080/09603100110050743