Publications and working papers
International refereed journals | National refereed journals | Working papers | Work in progress
International refereed journals 
- Dividends and taxes: The moderating role of agency conflicts, with Janis Berzins and Bogdan Stacescu, Journal of Corporate Finance 58, 2019, pp. 583-604.
- When does the family govern the family firm?, with Bogdan Stacescu, Line Almli, and Kathrine Søndergaard, Journal of Financial and Quantitative Analysis 54, issue 5, 2019, pp. 2085-2117.
- 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.
- Shareholder conflicts and dividends, with Janis Berzins and Bogdan Stacescu, Review of Finance 22, 2018, pp. 1807-1840.
- Mandatory gender balance and board independence, with Siv Staubo, European Financial Management, 2016, vol. 11-1, pp. 3-30.
- Does mandatory gender balance work? Changing organizational form to avoid board upheaval, with Siv Staubo, Journal of Corporate Finance 28, 2014, pp. 152–168.
- Stakeholder rights and economic performance: The profitability of non-profits, with Morten G. Josefsen, Journal of Banking and Finance 37, 2013, pp. 4073-4086.
- The economics of minority freezeouts: Evidence from the courtroom, with Nils Erik Krosvik, International Review of Law and Economics 36, 2013, pp. 48-58.
- Stakeholder conflicts and dividend policy, with Morten G. Josefsen and Pål Erik Steen, Journal of Banking and Finance 36, 2012, pp. 2852-2864.
- 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.
- Managing earnings with intercorporate investments, with Jørgen Haug, Journal of Business Finance and Accounting 33, 2006, pp. 671-695.
- Governance and performance revisited, with Bernt Arne Ødegaard, in P. U. Ali and G. Gregouriu (eds), International Corporate Governance after Sarbanes-Oxley. Wiley, 2006.
- Compliance with flexible accounting standards, with Jørgen Haug and Dag Michalsen. International Journal of Accounting 39, 2004, pp. 1-19.
- Patterns of corporate ownership: Insights from a unique data set, with Bernt Arne Ødegaard. Nordic Journal of Political Economy 27, 2001, pp. 55-86.
- The agent's ethics in the principal-agent model. Journal of Business Ethics 17, 1998, pp. 745-755.
- Why underwrite rights offerings? Some new evidence, with B. Espen Eckbo and Dag Michalsen. Journal of Financial Economics 46, 1997, pp. 223-261.
- Determinants of intercorporate shareholdings, with Øyvind Norli. European Finance Review 1, 1997, pp. 265-287.
- Risk components and the market model: A pedagogical note. Applied Financial Economics 7, 1997, pp. 307-310.
- Corporate cross-ownership and market aggregates: Oslo Stock Exchange 1980-1990, with Dag Michalsen. Journal of Banking and Finance 18, 1994, pp. 687-704.
- Theory development processes in the social sciences: The case of stochastic choice theory. Journal of Economic Psychology 11, no. 1, 1990, pp. 1-34.
- The validity of conventional valuation models under multiperiod uncertainty. Journal of Business Finance and Accounting 11, no. 2, 1984, pp. 199-211.
- Bounding certainty equivalent factors and risk-adjusted discount rates. Journal of Business Finance and Accounting 10, no. 1, 1983, pp. 139-146.
- Probabilities proportional to time-state prices, with Steinar Ekern. Economics Letters 8, no. 4, 1981, pp. 1-6.
- Capital budgeting with unspecified discount rates, with Terje Hansen. Scandinavian Journal of Economics 82, no. 1, 1980, pp. 45-58.
- North Sea oil taxes and sharing of risk: A comparative case study, with Cornelius Schilbred. Energy Economics 2, 1980, pp. 145-153.
- Consistent rankings based on total and differential amounts under uncertainty, with Steinar Ekern. Decision Sciences 10, no. 4, 1979, pp. 519-526.
National refereed journals 
- Solstrøm fra boligtak er ofte godt for både klima og økonomi, men ikke i dagens Norge, with Per Ivar Gjærum and Torkel Hasle, Forthcoming, Samfunnsøkonomen, 5, 2021, pp. 33-51.
- Økonomiske særtrekk ved stiftelser (Economic characteristics of ownerless firms), Nordisk Tidsskrift for Selskapsrett, 2014, pp. 1–14.
- Lønnsomhet i næringsklynger (Investment returns in industry clusters), with Fredrik Hoseth and Håvard Remøy, Samfunnsøkonomen, 2014, pp. 14-23.
- Norske familiebedrifter: Omfang, eierstyring og lønnsomhet, with Janis Berzins, Praktisk Økonomi og Finans 29, 2013, pp. 57-75.
- Bok og nettside som integrert læreverk (Textbook and webpage as an integrated learning tool), with Per Ivar Gjærum, Magma 15, 2012, pp. 63-72.
- 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.
- Eierskap og lønnsomhet (Ownership and value creation). Økonomisk Forum 59 (5), 2005, pp. 4-14.
- 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.
- 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.
- 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.
- 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.
- 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.
- PC-integrert undervisning i bedriftsøkonomi: Pedagogiske hensyn (Teaching managerial economics with PC-tools: Pedagogical issues). Beta 1, no. 3/4, 1987, pp. 101-106.
- 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.
- Usikkerhet i oljeprosjekter (The economic uncertainty of oil projects), with Steinar Ekern. Sosialøkonomen 40, no. 9, 1986, pp. 19-23.
- Skattefradrag for realrenter (Tax-deductible real interest costs). Sosialøkonomen 37, no. 9, 1983, pp. 12-16.
- Informasjonsøkonomi - en selektiv oversikt (Information Economics - a partial review). Erhvervsøkonomisk Tidsskrift 44, 1980, pp. 31- 48.
- Akseptable gjeldsrenter i inflasjonstider (Acceptable interest rates under inflation), with Terje Hansen. Sosialøkonomen 33, no. 3, 1979, pp. 18-20.
- Investeringsplanlegging under budsjettrestriksjoner - en kommentar (Capital budgeting and capital rationing - A comment). Sosialøkonomen 32, 1978, pp. 28-39.
- Om vurdering av teori: Anvendelse av vurderingskriterier med Howard-Sheth modellen som eksempel (On theory evaluation: Applying evaluation criteria to the Howard-Sheth model).
Working papers 
- The Family Behind the Family Firm Premium: Small Agency Conflicts and Large Financial Constraints, with Janis Berzins and Bogdan Stacescu, May, 2023.
- Illiquid owners and firm behavior: Financial and real effects of the personal wealth tax in private firms, with Janis Berzins and Bogdan Stacescu, February, 2022.
- Solstrøm er ofte godt for både klima og økonomi, men ikke i Norge, with Per Ivar Gjærum and Torkel Hasle, May, 2021.
- The persistent ownership structure of private firms, with Diana‐Cristina Iancu, Georgiana Radulescu and R. Øystein Strøm, September, 2020.
- The effect of shareholder turnout on voting rights and separation, with Sebastian Christophersen and Simen Lerfaldet, March, 2020.
- The governance and finance of Norwegian family firms: Main characteristics of the population, with Janis Berzins and Bogdan Stacescu, May, 2018.
Work in progress 
- The performance permium of family firms, with Janis Berzins and Bogdan Stacescu.