We establish that the effect of intensified deposit market competition, measured by reduced switching costs, on the probability of bank failures depends critically on whether we focus on competition with established customer relationships or competition for the formation of such relationships....

Purpose – The paper aims to examine the effect of advertising on mutual fund cash flows in the Finnish fund market. Design/methodology/approach – The paper's unique data set allows the observation of the effects of monetary advertising spending and the choice of advertising media. Findings...

Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms' dividend policy...

This work examines the leverage ratios of firms covered by the 1998 SSBF Survey. We find that small firms in general are significantly more levered than their larger counterparts in an industry-matched Compustat sample, but the difference is at least partially explained by differences in...