Research

Research interests: Portfolio Choice, Asset Pricing, Incomplete Information Models, Banking

Publications:
“Institutional Quality, Trust and Stock Market Participation: Learning to Forget”  (joint with Hossein Asgharian and Lu Liu), Quarterly Journal of Finance, forthcoming. 

“Tax Avoidance and State Ownership — The Case of Sweden” (joint with Axel Hilling, Niklas Sandell, Amanda Sonnerfeldt and Anders Vilhelmsson), Economics Letters, Vol. 208, 110063, 2021. 

“Unequal Returns: Using the Atkinson Index to Measure Financial Risk” (joint with Thomas Fischer), Journal of Banking and Finance, Vol. 116, 105819, 2020.

"The Effect of Stricter Capital Regulation on Banks' Risk-Taking: Theory and Evidence" (joint with Caren Yinxia Nielsen), European Financial Management, Vol. 25, pp. 1229-1248, 2019.

"Information, Stochastic Dominance and Bidding: The Case of Treasury Auctions" (joint with Patrick Leoni), Economics Letters, Vol. 153, pp. 80-82, 2017.

"Risk Aversion, Noise and Optimal Portfolios" (joint with Hjördis Hardardottir), Journal of Portfolio Management, Vol. 43, pp. 51-59, 2017.

"Banks' Pooling of Corporate Debt: An Application of the Restated Diversification Theorem," North American Journal of Economics and Finance, Vol. 31, pp. 249-263, 2015.

 "Growth Forecasts, Belief Manipulation and Capital Markets" (joint with Patrick Leoni), European Economic Review, Vol. 70, pp. 108-125, 2014.

 "Risk Premia: Exact Solutions vs. Log-Linear Approximations" (joint with Anders Wilhelmsson), Journal of Banking and Finance, Vol. 37, pp. 4256-4264, 2013.

 "The Quality of Public Information and the Term Structure of Interest Rates," Review of Quantitative Finance and Accounting, Vol. 40, pp. 715-740, 2013.

 "A Note on the Pricing of IPOs," Economics Letters, Vol. 106, pp. 105-107, 2010.

 "Implied Volatility and Risk Aversion in a Simple Model with Uncertain Growth," Economics Bulletin, Vol. 30, pp. 182-191, 2010.

 "Endogenous Acquisition of Information and the Equity Home Bias," Economica, Vol. 76, pp. 741-759, 2009.

 "Can An Estimation Factor Help Explain Cross-Sectional Returns?," Journal of Business, Finance and Accounting, Vol. 36, pp. 705-724, 2009.

 "Expected Life-Time Utility and Hedging Demands in a Partially Observable Economy," European Economic Review, Vol. 52, pp. 1072-1096, 2008.

 "The Effect of Information Quality on Optimal Portfolio Choice," The Financial Review, Vol. 41, pp. 157-185, 2006.

 "Essays on Incomplete Information in Financial Markets," Ph.D. Thesis, Lund University, Lund Economic Studies no. 124.

Working papers:

"Foreign and Domestic Loans over the Business Cycle" (joint with Jens Forssbaeck, Martin Strieborny and Anders Vilhelmsson), revise-and-resubmit, Journal of Financial Intermediation.
(https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3338283)

“Green Portfolios”  (joint with Thomas Fischer), reject-and-resubmit, Review of Asset Pricing Studies.
(https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3923578)

“Does the ‘Foreignness’ of Bank Loans Matter? Evidence from a New Dataset” (joint with Jens Forssbaeck, Martin Strieborny and Anders Vilhelmsson). Semi-finalist for the best paper award at the 2019 FMA conference in New Orleans.
(https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3285393)

“Loan Pricing over the Business Cycle” (joint with Jens Forssbaeck and Anders Vilhelmsson). Semi-finalist for the best paper award at the 2017 FMA conference in Boston.
(https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2914567)