Browsing Master Thesis by Subject "finance"
Now showing items 21-40 of 225
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Bidder returns for Norwegian acquirers : a study on how deal- and firm-specific characteristics affect bidder returns for Norwegian acquirers of foreign and domestic companies
(Master thesis, 2015)We examine the announcement returns for Norwegian acquirers of foreign and domestic targets between 1988 and 2014. This is done using panel data in a random effects model with stock return data from NHH’s Børsprosjektet, ... -
Blockchain and the future of money and finance : a qualitative exploratory study of blockchain technology and implications for the monetary and financial system
(Master thesis, 2017)Bitcoins original idea proposed a trustless monetary system, without the need of intermediaries. In recent years, these very intermediaries it originally tried to circumvent, have gained an increased interest in Bitcoin’s ... -
Blockchain in financial markets and intermediation : a qualitative exploratory study of the impact of blockchain technology on the financial market infrastructure and financial services
(Master thesis, 2018)A blockchain is an open, decentralized ledger that provides a cryptographically secure way of transacting without the need of trusted third parties. The technology has garnered a variety of claims and perceptions regarding ... -
Board characteristics & peer peformance in CEO turnover decisions : the effect of board characteristics on the impact of peerinduced returns in cases of forced CEO turnover
(Master thesis, 2018)We show that certain characteristics of the board of directors make it more prone to consider industry or peer-induced returns when making decisions to fire or retain the CEO. The board may hold the CEO responsible for ... -
Bulk without boundaries : an empirical study of bulk vessel speeds absent of contractual constraints
(Master thesis, 2020)Classical maritime theory suggests that vessel operators optimize speed based on prevailing market conditions. However, numerous academic contributions have failed to provide supportive empirical evidence of real life ... -
Can you hedge ship price risk using freight derivatives? : a study of the dry bulk market
(Master thesis, 2018)This thesis investigates the possibility of reducing ship price risk in the dry bulk sector using freight derivatives. We establish a theoretical linkage between ship prices and FFA prices and empirically test this ... -
Causal relations between stock market returns and macroeconomic variables : cointegration evidence from the Norwegian stock market
(Master thesis, 2016)The purpose of this thesis is to investigate whether imperative results on relations between stock returns and macroeconomic variables arising from major markets are valid in a small, open economy such as the Norwegian. ... -
Central bank digital currencies – fad or the future? : a framework for country level assessment of central bank digital currencies.
(Master thesis, 2018)When should central banks issue their own digital currencies? There is no clear guidance on this issue, neither from theory nor practice. In this thesis we perform a textual analysis of the available literature to identify ... -
Central bank digital currency (CBDC) : an explorative study on its impact and implications for monetary policy and the banking sector
(Master thesis, 2019)This thesis focuses on the concept of Central Bank Digital Currencies (CBDC) and the possible implications this could entail for monetary policy, commercial banks, and payment systems. With the declining use of cash and ... -
CEO options and payout decisions : an empirical analysis of the effects of CEO stock option on the payout decision
(Master thesis, 2018)This thesis studies the effects of CEO stock options on the choice between dividends and share repurchases, by examining 165 companies listed on the Oslo Stock Exchange in the period from 2012 to 2016. Given the growth in ... -
Changes in the value relevance of accounting information over time after the transition to IFRS : evidence from Norway
(Master thesis, 2018)We have used a sample of 212 firms, 1640 firm-year observations, listed on Oslo Stock Exchange over the time period 2005-2017 to analyze whether the value relevance of accounting information has increased over time after ... -
Company valuation in emerging market : the case of Bulgarian telecommuncations company
(Master thesis, 2006)Telecommunication companies often catch investors’ attention as a promising growth investment. How should the value of such a company be estimated, given the deficiencies of emerging market economy? This is the ... -
Comparing structural credit models and their applicability to banks
(Master thesis, 2019)Throughout this thesis we have presented a narrow overview of the research field of structural credit models and their applicability to banks. We have focused on two of the newer contributions to the field by Nagel and ... -
Corporate financial distress and reorganization : an empirical analysis of pre- and post chapter 11 leverage
(Master thesis, 2017)In this thesis our objective is to expand current knowledge on determinants of Chapter 11 outcomes. We do this by investigating pre- and post-reorganization leverage from a sample of 103 large public U.S. firms filing ... -
Corporate restructurings and the effect of ownership concentration on bond recovery rates : an empirical study of recovery rates in the Norwegian high yield bond market
(Master thesis, 2017)This study examines the effect of ownership concentration on recovery rates for 112 defaulted high yield bonds issued by Norwegian firms. We find evidence suggesting that concentrated ownership in the hands of the firm’s ... -
Corporate Spin-offs : An empirical study of shareholder value creation through corporate spin-offs on the Nordic stock exchanges
(Master thesis, 2021)In this thesis we examine short- and long-term shareholder value creation associated with Nordic corporate spin-offs from January 1, 1998 to July 31, 2021. We perform an event study on a sample of 119 spin-off announcements. ... -
Corporate takeovertand operational efficiency : do investors believe in value creation through the transfer of operational efficiency between merging firms?
(Master thesis, 2020)In this thesis, we examine the value creation in all-cash public takeovers, the relationship between value creation and the opportunity to transfer operational efficiency, and whether this relationship is different for ... -
Debt shifting in loss-making affiliates : an empirical study on parental debt in Norwegian multinationals
(Master thesis, 2019)As the economy is becoming more globalised, debt shifting in multinational corporations has received increasing attention from policy makers, academics and the media. MNCs have an advantage of using differences in corporate ... -
Design matters: an event study of CoCo bond offering announcements : how does design affect equity and credit markets perception of CoCo’s?
(Master thesis, 2016)This thesis performs an event study on contingent convertible (CoCo) bond offering announcements made in the period 2009-2016. Using a sample of 95 announcements from 39 European banks and a standard event study methodology, ... -
Determinants of private equity capital in emerging markets : evidence from macroeconomic and development variables
(Master thesis, 2018)This paper examines the determinants of private equity capital fundraised and invested for a panel dataset consisting of 34 emerging market nations. My analysis considers the impact of 12 macroeconomic and development ...