• Bond Liquidity at the Oslo Stock Exchange 

      Ødegaard, Bernt Arne (Staff Memo;5/2017, Working paper, 2017)
      We characterize the liquidity of bond trading at the Oslo Stock Exchange (OSE). We use the complete history of bond prices quoted at the OSE from 1990 to 2016. We first characterize the market place, summarize trading ...
    • Currency Hedging in Norwegian Non-Financial Firms 

      Børsum, Øystein G.; Ødegaard, Bernt Arne (Journal article, 2005)
      Fluctuations in global foreign exchange markets in recent years have again shown that many Norwegian enterprises are sensitive to changes in exchange rates, in both a positive and negative sense. The question naturally ...
    • Equity Trading by Institutional Investors. To Cross or Not to Cross? 

      Ødegaard, Bernt Arne; Næs, Randi (Discussion Paper, Working paper, 2000)
      The costs to institutional investors of trading equity are of obvious practical as well as academic interest. To date, the empirical academic literature on this topic has concentrated on data from equity trading at organized ...
    • Hvilke faktorer driver kursutviklingen på Oslo Børs? 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;8/2007, Working paper, 2007)
      I denne rapporten analyserer vi avkastningsmønstret på Oslo Børs over perioden 1980- 2006. Formålet med rapporten er å analysere drivkreftene bak kursutviklingen i det norske aksjemarkedet. Et viktig siktemål med analysen ...
    • Liquidity and Asset Pricing: Evidence on the Role of Investor Holding Period 

      Næs, Randi; Ødegaard, Bernt Arne (Working Papers;11/2007, Working paper, 2007)
      We use data on actual holding periods for all investors in a stock market over a 10 year period to investigate the links between holding periods, liquidity, and asset returns. Microstructure measures of liquidity are shown ...
    • Liquidity and the Business Cycle 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;11/2008, Working paper, 2008)
      We show evidence of a contemporaneous relation between stock market liquidity and the business cycle. Stock market liquidity worsen when the economy is slowing down, and this effect is most pronounced for small firms. Using ...
    • Liquidity at the Oslo Stock Exchange 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;9/2008, Working paper, 2008)
      We analyze the relationship between the long term development in liquidity at the Oslo Stock Exchange and the Norwegian economy for the period 1980 to 2007. We calculate different liquidity measures that captures various ...
    • Mutual Fund Performance in Norway and its Effect on Investor Capital Allocation 

      Børsheim, Erik; Eilertsen, Bjørn Eirik Brask (Masteroppgave/UIS-SV-HH/2016;, Master thesis, 2016-06)
      Using a survivorship bias–free dataset, we investigate the performance of Norwegian mutual funds in the period 2000–2015, and its effect on investor capital allocation to mutual funds. We evaluate the performance of the ...
    • Norske børsnoterte selskapers bruk av alternative resultatmål. Etterlever de ESMAs retningslinjer? 

      Meling, Eivind Kristoffer (Masteroppgave/UIS-HH/2018;, Master thesis, 2018-06-15)
      Alle børsnoterte selskaper må presentere årsrapporter som følger strenge regler og standarder. De siste 20 årene har tilleggsrapportering blitt en ny måte å rapportere verdiene til et selskap. Alternative resultatmål har ...
    • Price differences between equity classes 

      Ødegaard, Bernt Arne (Discussion Paper, Working paper, 2000)
      Price differences between equities of different classes have long been of interest to financial economists. Price differences between voting and nonvoting equity have, for example, been used as evidence for the existence ...
    • Rogaland på børs - Hvorfor går ikke selskap på børs? 

      Motland, Tonje; Bjelke-Andersen, Marianne (Masteroppgave/UIS-HH/2018;, Master thesis, 2018-02)
      «Bråstopp for børsnoteringer» lyder overskriften på Stavanger Aftenblads artikkel i 2012. Etter flere år med høy noteringsaktivitet i regionen har utviklingen stagnert. Siste lokale børsintroduksjon var i 2012. Per i dag ...
    • The duration of equity ownership at the Oslo Stock Exchange 1989-1999 

      Bøhren, Øyvind; Priestley, Richard; Ødegaard, Bernt Arne (Forskningsrapport;2/2006, Research report, 2006)
      To date little is known about how long equity ownership lasts, what determines its length, and whether ownership duration is related to rm performance. Using a unique time series of equity holdings over eleven years, ...
    • The Information Content of Market Liquidity: An Empirical Analysis of Liquidity at the Oslo Stock Exchange? 

      Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;26/2009, Working paper, 2009)
      We investigate the information content of aggregate stock market liquidity and ask whether it may be a useful realtime indicator, both for financial stress, and real economic activity in Norway. We describe the development ...
    • The Ownership Structure of Repurchasing Firms 

      Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;7/2004, Working paper, 2004)
      This paper provides an examination of the ownership structure in Norwegian firms that announced repurchase plans during the period 1999 through 2001, as well as for groups of these firms conditional on whether they actually ...
    • Throttling hyperactive robots: Order-to-trade ratios at the Oslo Stock Exchange 

      Jørgensen, Kjell; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Journal article; Peer reviewed, 2018)
      We investigate the effects of introducing a fee on excessive order-to-trade ratios (OTRs) on market quality at the Oslo Stock Exchange (OSE). We find that traders reacted to the regulation as measured OTRs fell. However, ...
    • Throttling hyperactive robots – order-to-trade ratios at the Oslo Stock Exchange 

      Jørgensen, Kjell; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Journal article; Peer reviewed, 2017-09)
      We investigate the effects of introducing a fee on excessive order-to-trade ratios (OTRs) on market quality at the Oslo Stock Exchange (OSE). We find that traders reacted to the regulation as measured OTRs fell. However, ...
    • U.S. Corporations are Sitting on Piles of Cash. What is the Situation in Norway? Which Determinants Might Explain the Causes of Norwegian Cash Holding? 

      Førlandsås, Grethe; Strømberg, Maren (Masteroppgave/UIS-HH/2018;, Master thesis, 2018-06-14)
      In the past three decades cash holding for U.S. firms have more than doubled. The goal of this thesis is to examine if the cash phenomenon in the U.S. is also existent in Norway. We investigate publicly traded firms in ...
    • Valutasikring i norske selskaper 

      Børsum, Øystein G.; Ødegaard, Bernt Arne (Journal article, 2005)
      I artikkelen oppsummeres resultatene av en spørreundersøkelse om norske selskapers valutasikring. Undersøkelsen viser at norske selskaper er på linje med tilsvarende selskaper i andre land i sin valutasikring. De fleste ...
    • What Factors Affect the Oslo Stock Exchange? 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;24/2009, Working paper, 2009)
      This paper analyzes return patterns and determinants at the Oslo Stock Exchange (OSE) in the period 1980-2006. We find that a three-factor model containing the market, a size factor and a liquidity factor provides a ...
    • Why Do Firms Pay for Liquidity Provision in Limit Order Markets? 

      Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;12/2010, Working paper, 2010)
      In recent years, a number of electronic limit order markets have reintroduced market makers for some securities (Designated Market Makers). This trend has mainly been initiated by financial intermediaries and listed firms ...