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Why underwrite rights offerings? Some new evidence
We examine rights issues on the Oslo Stock Exchange, where seasoned public offerings now take place almost exclusively through use of the relatively expensive standby underwriting method rather thanExpand
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Governance and Politics: Regulating Independence and Diversity in the Board Room
This paper analyzes the economic rationale for board regulation in place and for introducing new regulation in the future. We relate the value of the firm to the use of employee directors, boardExpand
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Mandatory Gender Balance and Board Independence
We find that forcing radical gender balance on corporate boards is associated with increased board independence and reduced firm value. A mandatory 40-percent gender quota shifts the average fractionExpand
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Aligned, Informed, and Decisive: Characteristics of Value-Creating Boards
This paper explores how board composition influences the conflict of interest between principals and agents, the production of information for monitoring and advice, and the board's effectiveness asExpand
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Governance and Performance Revisited
Using unusually rich and accurate data from Oslo Stock Exchange firms, we find that corporate governance matters for economic performance, that insider ownership matters the most, that outsideExpand
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Stakeholder Conflicts and Dividend Policy
This paper compares the dividend policy of owner-controlled firms with that of firms where the owners are a minority relative to non-owner employees, customers, and community citizens. We find thatExpand
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Capital Budgeting with Unspecified Discount Rates
Public or private allocation problems often involve numerous multiperiod decision alternatives, conflicting preferences, or imperfect knowledge about decisionmakers' wants. By placing only weakExpand
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Does Mandatory Gender Balance Work? Changing Organizational Form to Avoid Board Upheaval
Norway is the first, and so far the only, country to mandate a minimum fraction of female and male directors on corporate boards. We find that after a new gender balance law surprisingly stipulatedExpand
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The Ownership Structure Of Norwegian Firms: Characteristics Of An Outlier
This paper first describes the institutional framework for corporate governance in Norway, concluding that its civil law tradition of Roman origin provides a relatively strong protection ofExpand
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Corporate governance and economic performance in Norwegian listed firms
Using very rich and accurate data from all non–financial Oslo Stock Exchange firms in 1989– 1997, we find that ownership structure matters for economic performance, that insider ownership matters theExpand
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