This thesis studies the effects of thin-capitalization rules on the level and the tax rate sensitivity of internal and total debt in foreign affiliates of Norwegian multinationals. In response to multinationals’ enhanced ...

The time charter market for ships represents a classical example of the principal-agent problem, where shipowners can opt to invest in energy efficient ships, yet any savings in fuel expenditures accrue to the charterers. ...

The effects of discounting, stochasticity, non-linearities and maximum decay upon an optimal corrective tax are analyzed using stochastic dynamic optimization. Optimal corrective taxes are derived as explicit feedback ...

We consider a dynamic model of the capital structure of a firm with callable debt that takes into account that equity holders and debt holders have a common interest in restructuring the firm’s capital structure in order ...

We consider a dynamic general equilibrium model with incomplete markets in which we derive conditions for separating the savings decision from the asset allocation decision. It is shown that with logarithmic utility functions ...

This paper is concerned with the dissemination process of firm-specific annual earnings information in the Norwegian capital market. We find a significant reduction in stock price volatility in the post-announcement period ...

This paper shows that the OECD inclusive framework of Pillar Two fails to implement the claimed 15% minimum corporate tax for subsidiaries of multinational corporations. The reason is that the Substance-based Income Exclusion ...

This paper considers a two-sector education model with two novel features. First, contracts have an independent role in sorting workers into different sectors of the economy. Second, education improves workers’ awareness ...

First of all, I would like to thank my supervisors at the Norwegian School of Economics (NHH), Evelina Gavrilova-Zoutman and Floris Zoutman for excellent guidance throughout my PhD. Following my many years outside ...