A firm that owns a patent has a legal right to exclude. Applying for the patent, however, discloses discovery of an invention by the firm. Both the ownership of the right and the disclosure of the discovery expose the firm to an acquisition, because other firms may be interested in buying the...

The purpose of this study is to characterize and document the historical time profile of risk in the Scandinavian banking sectors in the truly turbulent economic environment of the past decade, namely over the overlapping periods of financial liberalization, intensified competition, changing...