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 financing, we find:
- Investigations of if 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 to board independence on corporate performance.
- The impact of the quality of corporate governance on dividend predictability.
- The effects of directors’ reputation incentives on their commitment to board duties.
- 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.
- The sensitivity of credit ratings to secular trends in macroeconomics and corporate financials.