Browsing BI Open by Author "Ostergaard, Charlotte"
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Corporate Governance Before There Was Corporate Law
Ostergaard, Charlotte; Smith, David C. (CCGR Working Paper;3/2011, Working paper, 2011)We study 79 sets of bylaw provisions adopted by Norwegian corporations in a free contracting environment before Norway got its first corporate law. The firms in our sample are publicly traded companies in the period ... -
Liquidity and Shareholder Activism
Norli, Øyvind; Ostergaard, Charlotte; Schindele, Ibolya (CCGR Working Paper, Working paper, 2009)This paper documents that stock liquidity improves shareholders’ incentive to monitor management. Using a hand-collected sample of contested proxy solicitations and shareholder proposals as occurrences of shareholder ... -
The Marginal Value of Cash, Cash Flow Sensitivities, and Bank-Finance Shocks in Nonlisted Firms
Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E. (Journal article; Peer reviewed, 2020)We study how small firms manage cash flows by estimating cash flow sensitivities for all sources and uses of cash. Our data are Norwegian non-listed firms which can be matched to the banks they borrow from. Firms with low ... -
Social Capital and the Viability of Stakeholder-Oriented Firms: Evidence from Savings Banks
Ostergaard, Charlotte; Schindele, Ibolya; Vale, Bent (CCGR Working Paper;1/2015, Working paper, 2015)We show that social capital improves the viability of stakeholder-oriented firms operating in competitive markets. Studying exits from the population of Norwegian savings banks after deregulations, we find that banks located ... -
The marginal value of cash, cash flow sensitivities and bank-finance shocks in nonlisted firms
Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E. (CCGR Working Paper;1/2011, Working paper, 2011)We study how nonlisted firms trade off financial, real, and distributive uses of cash. We show that firms' marginal value of cash (MVC) affects the mix of external and internal finance used to absorb fluctuations in cash ...