Øyvind Bøhren
Professor of Finance

Curriculum Vitae

Employment   |  Education   |   Fields of interest   |   Publications in international refereed journals   |   Publications in national refereed journals   |   Publications in non-refereed journals   |   Monographs and textbooks   |   Working papers

  

 Employment

2005-Present Founding director, CCGR (Centre for Corporate Governance Research). BI Norwegian Business School
1985-Present Professor of financial economics. BI Norwegian Business School
2004-2009 Holder of the Stein Erik Hagen Chair for private ownership. BI Norwegian Business School
1993-1996 Dean of Graduate Programs. BI Norwegian Business School
1992-1993 Visiting scholar. University of North Carolina at Chapel Hill
1983-1985 Associate professor, finance. BI Norwegian Business School
1982-1983 Assistant professor, finance. BI Norwegian Business School
1980-1982 Assistant professor, management. Norwegian School of Economics (NHH)
1979-1980 Visiting scholar. University of Washington
1977-1980 Research associate, finance. Norwegian School of Economics
1974-1976 Research assistant, management. Norwegian School of Economics

Education Go to top

1978 PhD in Financial Economics, Norwegian School of Economics
1976 MSc in Finance & Economics, Norwegian School of Economics
1973 B.A. (Siviløkonom), Norwegian School of Economics

Fields of interest Go to top

Corporate finance, corporate strategy, corporate governance, closely held firms, family firms, philosophy of science, ethics.


Publications

International refereed journals Go to top

  1. When does the family govern the family firm?, with Bogdan Stacescu, Line Almli, and Kathrine Søndergaard, Journal of Financial and Quantitative Analysis, forthcoming, 2019. SSRN
  2. Modeling the response to exogenous shocks: The capital uplift rate in petroleum taxation, with Magnus Berg and Erik Vassnes, Energy Economics 69, 2018, pp. 442-455. SSRN
  3. Shareholder conflicts and dividends, with Janis Berzins and Bogdan Stacescu, Review of Finance 22, 2018, pp. 1807-1840. SSRN
  4. Mandatory gender balance and board independence, with Siv Staubo, European Financial Management, 2016, vol. 11-1, pp. 3-30. SSRN
  5. Does mandatory gender balance work? Changing organizational form to avoid board upheaval, with Siv Staubo, Journal of Corporate Finance 28, 2014, pp. 152–168. SSRN
  6. Stakeholder rights and economic performance: The profitability of non-profits, with Morten G. Josefsen, Journal of Banking and Finance 37, 2013, pp. 4073-4086. SSRN
  7. The economics of minority freezeouts: Evidence from the courtroom, with Nils Erik Krosvik, International Review of Law and Economics 36, 2013, pp. 48-58. SSRN
  8. Stakeholder conflicts and dividend policy, with Morten G. Josefsen and Pål Erik Steen, Journal of Banking and Finance 36, 2012, pp. 2852-2864. SSRN
  9. Governance and politics: Regulating independence and diversity in the boardroom, with R. Øystein Strøm, Journal of Business Finance and Accounting 37, 2010, pp. 1281-1307. SSRN
  10. Managing earnings with intercorporate investments, with Jørgen Haug, Journal of Business Finance and Accounting 33, 2006, pp. 671-695. SSRN
  11. Governance and performance revisited, with Bernt Arne Ødegaard, in P. U. Ali and G. Gregouriu (eds), International Corporate Governance after Sarbanes-Oxley. Wiley, 2006. PDF
  12. Compliance with flexible accounting standards, with Jørgen Haug and Dag Michalsen. International Journal of Accounting 39, 2004, pp. 1-19. SSRN
  13. Patterns of corporate ownership: Insights from a unique data set, with Bernt Arne Ødegaard. Nordic Journal of Political Economy 27, 2001, pp. 55-86. SSRN
  14. The agent's ethics in the principal-agent model. Journal of Business Ethics 17, 1998, pp. 745-755. PDF
  15. Why underwrite rights offerings? Some new evidence, with B. Espen Eckbo and Dag Michalsen. Journal of Financial Economics 46, 1997, pp. 223-261. SSRN
  16. Determinants of intercorporate shareholdings, with Øyvind Norli. European Finance Review 1, 1997, pp. 265-287. SSRN
  17. Risk components and the market model: A pedagogical note. Applied Financial Economics 7, 1997, pp. 307-310. PDF
  18. Corporate cross-ownership and market aggregates: Oslo Stock Exchange 1980-1990, with Dag Michalsen. Journal of Banking and Finance 18, 1994, pp. 687-704. SSRN
  19. Theory development processes in the social sciences: The case of stochastic choice theory. Journal of Economic Psychology 11, no. 1, 1990, pp. 1-34. PDF
  20. The validity of conventional valuation models under multiperiod uncertainty. Journal of Business Finance and Accounting 11, no. 2, 1984, pp. 199-211. PDF
  21. Bounding certainty equivalent factors and risk-adjusted discount rates. Journal of Business Finance and Accounting 10, no. 1, 1983, pp. 139-146. PDF
  22. Probabilities proportional to time-state prices, with Steinar Ekern. Economics Letters 8, no. 4, 1981, pp. 1-6. PDF
  23. Capital budgeting with unspecified discount rates, with Terje Hansen. Scandinavian Journal of Economics 82, no. 1, 1980, pp. 45-58. PDF
  24. North Sea oil taxes and sharing of risk: A comparative case study, with Cornelius Schilbred. Energy Economics 2, 1980, pp. 145-153. PDF
  25. Informasjonsøkonomi - en selektiv oversikt (Information Economics - a partial survey). Erhvervsøkonomisk Tids­skrift 44, no. 1, 1980, pp. 31-48. PDF
  26. Consistent rankings based on total and differential amounts under uncertainty, with Steinar Ekern. Decision Sciences 10, no. 4, 1979, pp. 519-526. PDF

 

National refereed journals Go to top

  1. Økonomiske særtrekk ved stiftelser (Economic characteristics of ownerless firms), Nordisk Tidsskrift for Selskapsrett, 2014, pp. 1–14. PDF
  2. Lønnsomhet i næringsklynger (Investment returns in industry clusters), with Fredrik Hoseth and Håvard Remøy, Samfunnsøkonomen, 2014, pp. 14-23. PDF
  3. Norske familiebedrifter: Omfang, eierstyring og lønnsomhet, with Janis Berzins, Praktisk Økonomi og Finans 29, 2013, pp. 57-75. PDF
  4. Bok og nettside som integrert læreverk (Textbook and webpage as an integrated learning tool), with Per Ivar Gjærum, Magma 15, 2012, pp. 63-72. PDF
  5. Unoterte aksjeselskaper selskaper er viktige, uutforskede og spesielle (Private firms are important, underreserached, and unique), with Janis Berzins, Praktisk Økonomi og Finans 8 (2), 2009, pp. 65-75. PDF
  6. Eierskap og lønnsomhet (Ownership and value creation). Økonomisk Forum 59 (5), 2005, pp. 4-14. PDF
  7. Tvangsinnløsning av minoritetseiere: Rettsøkonomien i norske skjønnssaker gjennom 25 år (Minority freezeouts: Law and economics in Norwegian courts over 25 years), with Nils Erik Krosvik). Tidsskrift for Rettsvitenskap 118 (1-2), 2005, pp. 122-152. PDF
  8. På leting etter god pristeori: Historien om kapitalverdimodellen (Searching for a good price theory: The story of the capital asset pricing model). Sosialøkonomen 47, no. 2, 1993, pp. 20-24. PDF
  9. Egenkapitalrentabilitet og skatt: En kritisk analyse (Equity returns and taxes: A critical reexamination), with Knut Larsen, Dag Michalsen and Hans Robert Schwencke. Beta 5, no. 1, 1991, pp. 54-63. PDF
  10. Skattebaserte finansieringsinsentiver i norske aksjeselskaper fra 1970 til 1990 (Tax-based financing incentives in the Norwegian tax system from 1970 to 1990), with Dag Michalsen. Norsk Økonomisk Tidsskrift 104, no. 4, 1990, pp. 303-336. PDF
  11. Merton Miller, norsk beskatning og finansiell verdiskapning (Merton Miller and the value of financing in the Norwegian tax system), with Dag Michalsen. Sosialøkonomen 44, no. 11, 1990, pp. 13-15. PDF
  12. PC-integrert undervisning i bedriftsøkonomi: Pedagogiske hensyn (Teaching managerial economics with PC-tools: Pedagogical issues). Beta 1, no. 3/4, 1987, pp. 101-106. PDF
  13. Usikkerhet i oljeprosjekter: Relevante og irrelevante risikohensyn (Oil projects and risk: Relevant and irrelevant risk factors), with Steinar Ekern. Beta 1, no. 1, 1987, pp. 23-30. PDF
  14. Usikkerhet i oljeprosjekter (The economic uncertainty of oil projects), with Steinar Ekern. Sosialøkonomen 40, no. 9,  1986, pp. 19-23. PDF
  15. Skattefradrag for realrenter (Tax-deductible real interest costs). Sosialøkonomen 37, no. 9, 1983, pp. 12-16. PDF
  16. Akseptable gjeldsrenter i inflasjonstider (Acceptable interest rates under inflation), with Terje Hansen. Sosialøkonomen 33, no. 3, 1979, pp. 18-20. PDF
  17. Investeringsplanlegging under budsjettrestriksjoner - en kommentar (Capital budgeting and capital rationing-A comment). Sosialøkonomen 32, 1978, pp. 28-39. PDF
  18. Om vurdering av teori: Anvendelse av vurderingskriterier med Howard-Sheth modellen som eksempel (On theory evaluation: Applying evaluation criteria to the Howard-Sheth model). PDF

 

Non-refereed journals Go to top

  1. Kompakt og intens. Erfaringer fra en skriveprosess (Compact and intense. Experience from a writing process), Prosa 17, no. 3, 2011, pp. 64-67. PDF
  2. Corporate governance and business economics outside the Oslo Stock Exchange, Statens Eierberetning (The State's Ownership Report), with Janis Berzins and Pål Rydland, June 2008, pp. 40-43. PDF
  3. Eierskap og lønnsomhet (Ownership and value creation). Praktisk Økonomi og Finans 23, 2006, pp. 91-103. PDF
  4. Norsk eierskap: Særtrekk og sære trekk (The ownership structure of Norwegian firms), with Bernt Arne Ødegaard. Praktisk Økonomi og Finans 20, 2003, pp. 3-17. PDF
  5. Spiller aktivt eierskap noen rolle for fondsavkastningen? (Does active ownership matter for fund performance?). Investor, 2002, p. 14. PDF
  6. Norske aksjeemisjoner (Norwegian equity offerings), with Espen Eckbo and Dag Michalsen. Praktisk Økonomi og Ledelse 12, no. 4, 1996, pp. 47-57. PDF
  7. Gjeldsstrukturen i norske aksjeselskaper (The debt structure of Norwegian firms), with Arne Thorsland and Pål Tollefsen. Praktisk Økonomi og Ledelse 12, no. 2, 1996, pp. 51-60. PDF
  8. Forsker og forretningsmann: En verdiskapende allianse? (Researchers and managers: A value-creating alliance?), with Arne Jon Isachsen. Praktisk Økonomi og Ledelse 7, no. 3, 1991, pp. 115-122. PDF
  9. Økonomisk risiko i oljeprosjekter (Oil projects and risk). BI-Forum, no. 5, 1987, pp. 10-15. PDF
  10. Erfaringer fra produktutvikling: Finansiell programvare for PC (Lessons from a product development process: PC based financial software). BI-Forum, no. 4, 1987, pp. 9-11. PDF
  11. Bedriftsøkonomi og PC-verktøy (Managerial economics and PC-tools). Editorial in Beta 1, no. 2, 1987, pp. 1-2. PDF
  12. Book review of Jan Mossin: "Markedseffisiens. Finans­markedslære for nøkterne investors" (Market efficiency. Financial economics for rational investors"). Beta 1, no. 1, 1987, pp. 50-51. PDF
  13. Foretaksstrategi og økonomisk teori (Coporate strategy and economic theory). In Jonny Holbek (ed.): Foretaks­strategi (Corporate Strategy). Oslo: Bedriftsøkonomens Forlag, 1984. PDF
  14. Sparing med skattefradrag: en privatøkonomisk analyse (Tax-based savings incentives: The effect on personal wealth). Bedriftsøkonomen 45, no. 10, 1983, pp. 532-537. PDF
  15. Norsk oljepolitikk i beslutningsanalytisk perspektiv (Norwegian oil policy within a decision analytic framework). Bedriftsøkonomen 44, no. 2, 1982, pp. 128-135. PDF
  16. Er effektiv rente bryet verd? (Why bother about effective interest rates?). Økonomisk Revy, no. 7/8, 1983, pp. 13-14. PDF
  17. Effektiv rente på boliglån: en empirisk undersøkelse (Effective interest rates of home mortgages: Empirical evidence). Bedriftsøkonomen 44, no. 9, 1982, pp. 457-469. PDF
  18. Å løse investeringsproblemer (Solving capital budgeting problems). Bedriftsøkonomen 44, 1982, pp. 355-360. PDF
  19. Evaluating North Sea petroleum fields, with Cornelius Schilbred. Noroil 3, 1982, pp. 31-35. PDF
  20. Yrkesvalg og lønnsomhet: NHH kontra næringsliv og forvaltning, with Geir Fuglaas. (Career choice and profitability: Academia versus professional jobs). Bedriftsøkonomen 43, no. 9, 1981, pp. 480-485. PDF
  21. Kostnadsoverskridelser og skatteregler i Nordsjøen. (Cost overruns and tax regimes in the North Sea). Bedriftsøkonomen 40, no. 10, 1978, pp. 494-495. PDF

 

Monographs and textbooks Go to top

  1. Finans: Teori og praksis (Finance: Theory and practice), with Dag Michalsen and Øyvind Norli. Intermediate textbook in finance. Fagbokforlaget, 2017, 607 pages.
  2. Finans: Innføring i investering og finansiering (Corporate finance), with Per Ivar Gjærum. Introductory textbook in finance. Fagbokforlaget, 2016, 526 pages.
  3. Finansiell økonomi. Teori og praksis (Financial Economics. Theory and Practice), with Dag Michalsen. Intermediate textbook in finance. Fagbokforlaget, 2012, 557 pages.
  4. Eierne, styret og ledelsen: Corporate governance i Norge (Owners, boards, and managers: Corporate governance in Norway). Fagbokforlaget, 2011, 262 pages.
  5. Prosjektanalyse. Investering og finansiering (Corporate finance), with Per Ivar Gjærum, Introductory textbook in finance. Fagbokforlaget, 2009, 530 pages.
  6. The corporate finance and governance of limited liability firms: Basic characteristics, with Janis Berzins and Pål Rydland, CCGR Research Report 01/2008, Norwegian School of Management BI, September 2008, 122 pages. PDF
  7. Do stakeholders matter for corporate governance? Behavior and performance of Norwegian banks 1985-2002, with Morten G. Josefsen, CCGR Research report 01/2007, Norwegian School of Management BI, March 2007, 55 pages. PDF
  8. The duration of equity ownership at the Oslo Stock Exchange 1989-1999, with Richard Priestley and Bernt Arne Ødegaard, Research report no. 2/2006, Norwegian School of Management BI, January 2006, 430 pages. PDF
  9. The value-creating board: Theory and evidence, with Øystein Strøm. Research report no. 8/2005, Norwegian School of Management BI, October 2005, 76 pages. PDF
  10. Eierstyring i store norske selskaper: Oppsigelse av toppleder (Corporate governance in large Norwegian firms: Dismissing the CEO, with Samir Sharma and Tonje Vegarud. In PricewaterhouseCoopers (ed) Corporate Governance i et norsk perspektiv, Abstrakt Forlag, May, 2004. PDF
  11. Norsk eierskap: Særtrekk og sære trekk (The ownership structure of Norwegian firms), with Bernt Arne Ødegaard. In Einar Hope (ed), Næringspolitikk for en ny økonomi, Fagbokforlaget, November 2002, 91-110. PDF
  12. Finansparadigmet (The finance paradigm), in Petter Bjerksund and Øystein Gjerde (eds), Essays on uncertainty, Festskrift til Steinar Ekerns 60-årsdag, NHH, August 2002. PDF
  13. Corporate governance and economic performance in Norwegian listed firms. Research report 11, Norwegian School of Management, 2001, 230 pages. PDF
  14. Finansiell økonomi. Teori og praksis (Financial Economics. Theory and Practice), with Dag Michalsen. Intermediate textbook in finance. Skarvet Publishers, 2001, 622 pages.
  15. The ownership structure of Norwegian firms: Characteristics of an outlier. Research report 13, Norwegian School of Management, 2000, 175 pages. PDF
  16. Prosjektanalyse (Capital budgeting), with Per Ivar Gjærum. Introductory textbook in finance. Skarvet Forlaget, 2000, 578 pages.
  17. Corporate dividend policy in Norway, with B. Espen Eckbo, Dag Michalsen and David C. Smith, Research report 01, January 1997. PDF
  18. Prosjektanalyse med PC-verktøy. (Project evalua­tion with PC-tools), with Per Ivar Gjærum.v Introductory textbook in finance. NKS Publishers, 1990, 221 pages.
  19. Budsjettering, investering og finansiering. (Basic Financial Management), with Per Ivar Gjærum. University Press, 1987 (3. edition), 228 pages.
  20. Oppgaver og løsningsforslag i budsjettering, investering og finansiering. (Problems and solutions manual to Basic Financial Management), with Per Ivar Gjærum. University Press, 1986 (2. edition), 182 pages.
  21. Risiko og lønnsomhet i oljeprosjekter: Eksempler på modellbruk ved større feltanalyser. (Risk and value in oil projects: Case-based model applications in large field analyses), with Steinar Ekern. Report X-85, SAF, NHH, 87 pages. PDF
  22. Usikkerhet i oljeprosjekter: Relevante og irrelevante risikohensyn (Oil projects and risk: Relevant and irrelevant risk factors), with Steinar Ekern. Report 1-85, SAF, NHH, 67 pages. PDF
  23. Lønnsomhet av oljeprosjekter: En systematisk gjennomgang av alternative modeller for prosjektvurdering under usikkerhet (The value of oil fields; A survey of evaluation models for uncertain oil projects), with Steinar Ekern, Thore Johnsen, and Pål Korsvold. Report 5-84, SAF, NHH, 174 pages. PDF
  24. Simulering: Bruk og misbruk ved lønnsomhetsvurdering av usikre oljeprosjekter. (Simulation: Use and misuse in oil field valuations), with Steinar Ekern. Report 3-84, SAF, NHH, 88 pages. PDF
  25. Choice of models and data in capital budgeting. Licen­tiate (PhD) thesis in management. NHH, 1978. PDF
  26. Analyse av petroleumsinvesteringer. (Evaluating petroleum projects). Høyere Avdelings Siviløkonomoppgave (MSc thesis). NHH, 1976. PDF

 

Working papers Go to top

  1. Dividends and taxes: The moderating role of agency conflicts, with Janis Berzins and Bogdan Stacescu, December, 2017. SSRN