We aim at explaining why some consumers use only one medium when paying for their point-of-sale transactions, while others multihome and use many. Using data on young Finnish consumers, we find that one key determinant of multihoming behavior in the market for payment media is consumer...

Although it is widely acknowledged that the benefits of corporate governance reform could be substantial, systematic evidence on such reforms is scant. We both document and evaluate a contemporary corporate governance reform by constructing 18 measures of shareholder and creditor protection for...

I calibrate the switching cost for the Finnish retail deposit market by using the approach developed by Oz Shy (2002). It turns out that switching costs faced by deposit customers of the main Finnish banks manifest large variation and are high, ranging from 200 euros to nearly 1,400 euros. Over...