Browsing BI Open by Author "Berzins, Janis"

Now showing items 1-8 of 8

    • Asset management and investment banking 

      Berzins, Janis; Liu, Crocker H.; Trzcinka, Charles (Journal article; Peer reviewed, 2013)
      We find evidence that conflicts of interest are pervasive in the asset management business owned by investment banks. Using data from 1990 to 2008, we compare the alphas of mutual funds, hedge funds, and institutional funds ...

    • Corporate finance and governance in firms with limited liability: Basic characteristics 

      Berzins, Janis; Bøhren, Øyvind; Rydland, Pål (CCGR Research Report, Research report, 2008)
      We analyze a wide range of corporate finance and governance characteristics in all active Norwegian firms with limited liability over the period 1994-2005. This sample includes about 77,000 nonlisted (private) firms and ...

    • Dividends and taxes: The moderating role of agency conflicts 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (Journal article; Peer reviewed, 2019)
      We find that potential conflicts between majority and minority shareholders strongly influence how dividends respond to taxes. When the controlling shareholder has a smaller stake, the incentives to extract private benefits ...

    • Norske familiebedrifter: omfang, eierstyring og lønnsomhet 

      Berzins, Janis; Bøhren, Øyvind (Journal article; Peer reviewed, 2013)
      Vi dokumenterer at familiebedriftene utgjør en betydelig andel av norsk økonomi regnet etter antall, ansatte, omsetning og eiendeler. Eierstyringen i den enkelte familiebedrift kjennetegnes av uvanlig tett kopling mellom ...

    • Shareholder conflicts and dividends 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (Journal article; Peer reviewed, 2018)
      We examine how dividend policy is used to mitigate potential conflicts of interest between majority and minority shareholders in private Norwegian firms. The average payout is 50% higher if the majority shareholder’s equity ...

    • Stockholder Conflicts and Dividend Payout 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (CCGR Working Paper;5/2011, Working paper, 2011)
      This paper examines how dividend policy influences conflicts of interest between majority and minority stockholders in a large sample of private firms with controlling blockholders. We find that a higher potential for ...

    • Tax concerns and agency concerns in dividend policy: Holding companies as a separating device 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (CCGR Working Paper;2/2013, Working paper, 2013)
      Higher dividends may create value by reducing agency costs, but may also destroy value by increasing tax payments. This paper shows empirically how stockholders use holding companies to establish indirect ownership through ...

    • The Governance and Finance of Norwegian Family Firms: Main Characteristics of the Population 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (CCGR Research Report;01/2018, Working paper, 2018-06)