• Does information sharing reduce the role of collateral as a screening device? 

      Stacescu, Bogdan; Karapetyan, Artashes (Journal article; Peer reviewed, 2014)
      Information sharing and collateral are both devices that help banks reduce the cost of adverse selection. We examine whether they are likely to be used as substitutes (information sharing reduces the need for collateral) ...
    • Information Sharing and Information Acquisition in Credit Markets 

      Karapetyan, Artashes; Stacescu, Bogdan (Journal article; Peer reviewed, 2014)
      We examine the effect of information sharing via credit bureaus or credit registers on banks’ incentives to collect information about their borrowers. Information asymmetries have been identified as an important source ...
    • 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)