Efficiency in the context of financial markets can be defined in many ways. The major strand of finance literature measures the market's ability to process information into prices. Another strand of literature refers to the economists' usual sense of the word, i.e. that markets ensure that...

This study addresses how firms’ internationalization affects CEO compensation. Based on a sample of Swedish listed firms we analyze the effect of internationalization through the product market (export), the capital market (foreign exchange listing), and the corporate governance market...

Real exchange and interest rates may still fluctuate inside the EMU and give rise to changes in competitiveness. We find, in contrast to what is generally expected, no convergence in these variables after the introduction of the euro. On the contrary, a divergence is found that is extraordinary...

We investigate monetary-policy autonomy under different exchange-rate regimes in small, open European economies during the 1980s and 1990s. We find no systematic difference in the degree of nominal monetary-policy autonomy enjoyed by those countries that pursue flexible exchange-rate regimes as...

Previous research has been inconclusive as regards the effect of outward foreign direct investment (FDI) on domestic investments. In this article we show that this inconclusiveness can be explained at a disaggregated level as a function of the way industries are organized. Based on a simple...

The major strand of finance literature understands market efficiency through the market’s ability to process information into prices. Another strand of literature refers to the economists’ usual sense of the word, i.e. that markets ensure that resources are allocated to their most profitable...

Service has traditionally been a forceful competitive tool in grocery retailing. Lately discount stores has proven to be a winning concept within North European grocery re-tailing and this has evoked a renewed interest in service quality and grocery retailing. The overall aim of this study is to...

Based on a case study of managers in a large, international knowledge-intensive company this paper suggests a rethinking of leadership, taking the mundane, almost trivial, aspects of what managers/leaders actually do seriously. In the study interviewed managers emphasized the importance of...

In this paper a framework for investigating and understanding how boards of directors respond to changes in the national pattern of corporate governance based on institutional theory is developed. The framework is applied on boards of Swedish publicly listed companies in 1994 and 1999. We...