"A tremendous amount of research examines US mutual funds, but fund markets also thrive in other countries. However, research about these fast growing markets is lacking. This study addresses Finnish funds. Fast growth of the Finnish fund industry, strong bank dominance in the industry and...

If firms issue convertible securities to facilitate sequential investment, the securities should be engineered to give sufficient flexibility to accommodate timing of follow-on investment. We examine call provisions in convertible bonds and argue that firms with investment options expected to...

Examining call protection terms offered by convertible bond issuers from countries with varying levels of shareholder protection and creditor protection provides an interesting previously unexplored method to observe whether firms adjust the design of their financing contracts depending on the...

We appeal to the literature on optimal timing of capital investment to identify a metric that permits a new test of the sequential financing motive for financing with convertible securities. We argue that firms that should execute capital investment with little delay should design convertibles...

Introduction of the euro altered the home currency financing markets for the euro zone firms in an unprecedented way. I study the consequences of the launch of the euro on interest rate sensitivity of the European stock markets, and find that while stock returns in most countries in the Western...

Introduction of the euro altered the home currency financing markets for the euro zone firms in an unprecedented way. I study the consequences of the launch of the euro on interest rate sensitivity of the European stock markets, and find that while stock returns in most countries in the Western...