Corporate Finance
Our research revolves around topics such as corporate financing, corporate governance, and corporate risk management. The current research covers corporate finance and financial constraints, corporate governance and executive remuneration, risk management and enterprise risk management, and credit risk assessment.
Much of the research targets academic audiences, but the research group also publishes articles in journals directed at professional audiences, often in collaboration with practitioners. Researchers also participate in public seminars and take part in interviews in news media. The research group is an integral part of the Knut Wicksell Centre for Financial Studies.
Among on-going research projects in corporate finance, we find:
- Investigations of whether investment-cash flow sensitivities measure investment intensity or financial constraints.
- The sensitivity of investment-cash flow sensitivities to measurement bias.
- How inventory management interacts with corporate cash management.
- The ability of credit ratings to measure financial constraints.
Examples of research in corporate governance:
- Studies of the effects of changes of board independence on corporate performance.
- The impact of corporate governance on dividend predictability.
- The influence of connections between directors on cross-border mergers and acquisitions.
- The importance of corporate governance to corporate performance in face of severe industry shocks.
Within corporate risk management, we for example investigate:
- The dynamics of corporate hedging in times of financial distress.
- The role of derivatives transactions in corporate risk shifting.
- How inventory management influences corporate risk management.
- Whether or not corporate credit ratings have become more conservative over time.
More reading
Inventory and corporate risk management. Review of Corporate Finance Studies.
Between a rock and a hard place: New evidence on the relationship between ownership and voluntary disclosure. International Review of Financial Analysis.
The Shareholder Base Hypothesis of Stock Return Volatility: Empirical Evidence. Financial Management.
CEO age, risk incentives, and hedging strategy. Financial Management.
Wall of cash: The investment-cash flow sensitivity when capital becomes abundant. Journal of Banking & Finance.
Disappearing investment‐cash flow sensitivities: earnings have not become a worse proxy for cash flow. Journal of Business Finance & Accounting.
Derivative cash flows and corporate investment. Journal of Banking & Finance.
The effects of board independence on busy directors and firm value. Corporate Governance: An International Review.
