Yrjo Koskinen

Haskayne School of Business, University of Calgary

Professor of Finance, Associate Dean for Research

SH 154, 2500 University Drive NW

Calgary, Alberta T2N 1N4

Canada

http://https://profiles.ucalgary.ca/yrjo-koskinen

European Corporate Governance Institute (ECGI)

Research Member

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

Brussels

Belgium

http://https://ecgi.global/users/yrj%C3%B6-koskinen

  • Haskayne School of Business, University of Calgary

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    • Tel: +1-403-220-5540

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

23

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15,565

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510

Scholarly Papers (23)

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1.

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

Downloads 4,036 ( 5,444)
Citation 373

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 359/2013
Number of pages: 48 Posted: 20 Nov 2011 Last Revised: 19 Jan 2018
Rui A. Albuquerque, Yrjo Koskinen and Chendi Zhang
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary and University of Exeter Business School
Downloads 3,398 (7,098)
Citation 25

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corporate social responsibility, product differentiation, systematic risk, beta, firm value, industry equilibrium

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

Forthcoming in Management Science, DOI/10.1287/mnsc.2018.3043, WBS Finance Group Research Paper No. 259
Number of pages: 19 Posted: 28 Nov 2018
Rui A. Albuquerque, Yrjo Koskinen and Chendi Zhang
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary and University of Exeter Business School
Downloads 636 (85,215)
Citation 257

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corporate social responsibility, product differentiation, systemic risk, beta, firm value, industry equilibrium

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

CEPR Discussion Paper No. DP9533
Number of pages: 49 Posted: 09 Jul 2013 Last Revised: 07 Nov 2019
Rui A. Albuquerque, Art Durnev and Yrjo Koskinen
Boston College, Carroll School of Management, University of Iowa - Henry B. Tippie College of Business and Haskayne School of Business, University of Calgary
Downloads 2 (1,312,805)
Citation 91
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beta, corporate social responsibility, firm value, industry equilibrium, product differentiation, systematic risk

2.

Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

European Corporate Governance Institute – Finance Working Paper No. 676/2020
Number of pages: 42 Posted: 24 Apr 2020 Last Revised: 28 Aug 2021
Rui A. Albuquerque, Yrjo Koskinen, Shuai Yang and Chendi Zhang
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary, University of Calgary - Haskayne School of Business and University of Exeter Business School
Downloads 2,786 (9,879)
Citation 31

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ESG, CSR, COVID-19, market crash, exogenous shock, stock returns, volatility, customer loyalty, investor loyalty

3.

Corporate Financial Policies and Performance Around Currency Crises

Yale ICF Working Paper No. 00-61
Number of pages: 60 Posted: 31 Oct 2001
Arturo Bris, Yrjo Koskinen and Vicente Pons-Sanz
IMD International, Haskayne School of Business, University of Calgary and Yale School of Management
Downloads 1,121 (40,102)
Citation 2

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Currency Crises, Corporate Leverage, Capital Structure, Profitability, Exchange Rates

4.

Investor Protection and the Demand for Equity

European Corporate Governance Institute (ECGI) Research Paper No. 64/2004
Number of pages: 50 Posted: 13 Jun 2003
Mariassunta Giannetti and Yrjo Koskinen
Stockholm School of Economics and Haskayne School of Business, University of Calgary
Downloads 1,059 (43,599)
Citation 11

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Investor Protection, Private Benefits of Control, Portfolio Choice, Home Equity Bias, Limited Participation

5.

Corporate Leverage and Currency Crises

Downloads 906 (54,083)
Citation 1

Corporate Leverage and Currency Crises

AFA 2001 New Orleans; Yale ICF & SOM Working Paper No. ICF - 00-05
Number of pages: 36 Posted: 30 Mar 2000
Arturo Bris and Yrjo Koskinen
IMD International and Haskayne School of Business, University of Calgary
Downloads 906 (53,271)
Citation 1

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Corporate Leverage and Currency Crises

Journal of Financial Economics (JFE), Vol. 63, No. 2, 2002
Posted: 17 Aug 2008
Arturo Bris and Yrjo Koskinen
IMD International and Haskayne School of Business, University of Calgary

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currency depreciation, debt overhang, emerging markets, efficient investment policy, excessive risk taking

6.

Mutual Fund Trading, Greenwashing, and ESG Clientele

Downloads 811 (62,950)
Citation 8

Mutual Fund Trading, Greenwashing, and ESG Clientele

European Corporate Governance Institute – Finance Working Paper No. 782/2021
Number of pages: 60 Posted: 23 Aug 2021 Last Revised: 26 Mar 2024
Rui A. Albuquerque, Yrjo Koskinen and Raffaele Santioni
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary and Bank of Italy
Downloads 587 (94,262)
Citation 2

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Environmentalandsocialresponsibility,clienteleeffects,investorhorizon,fund flows, greenwashing

Mutual Fund Trading, Greenwashing and ESG Clientele

Bank of Italy Temi di Discussione (Working Paper) No. 1371
Number of pages: 48 Posted: 07 Jul 2022 Last Revised: 25 Mar 2024
Rui A. Albuquerque, Yrjo Koskinen and Raffaele Santioni
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary and Bank of Italy
Downloads 221 (280,160)
Citation 6

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Environmentalandsocialresponsibility,clienteleeffects,investorhorizon,fund flows, greenwashing

Mutual Fund Trading and ESG Stock Resilience During the Covid-19 Stock Market Crash

CEPR Discussion Paper No. DP16477
Number of pages: 68 Posted: 27 Sep 2021 Last Revised: 29 Mar 2022
Rui A. Albuquerque, Yrjo Koskinen and Raffaele Santioni
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary and Bank of Italy
Downloads 3 (1,303,183)
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clienteleeâ?µects, Environmentalandsocialresponsibility, Fund flows, investor horizon, Stock Market Crash

7.

The Euro is Good after All: Corporate Evidence

Yale ICF Working Paper No. 02-26
Number of pages: 56 Posted: 27 Aug 2002
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 735 (71,718)
Citation 9

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Economic and Monetary Union (EMU), The Euro, Valuation, Investment, Debt, Equity, Cost of Capital, Currency Risk

8.

Informed Trading, Short Sales Constraints, and Futures' Pricing

Downloads 715 (74,432)

Informed Trading, Short Sales Constraints, and Futures' Pricing

Bank of Finland Discussion Papers 4/2000
Number of pages: 32 Posted: 28 Mar 2000
Yrjo Koskinen, Pekka Hietala and Esa Jokivuolle
Haskayne School of Business, University of Calgary, INSEAD - Finance and Bank of Finland, Research Unit
Downloads 667 (80,032)

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Futures' markets, short sales constraints, asymmetric information

Informed Trading, Short Sales Constraints and Futures' Pricing

Bank of Finland Research Discussion Paper No. 4/2000
Number of pages: 1 Posted: 17 Aug 2017 Last Revised: 18 Nov 2021
Pekka Hietala, Esa Jokivuolle and Yrjo Koskinen
INSEAD - Finance, Bank of Finland, Research Unit and Haskayne School of Business, University of Calgary
Downloads 48 (822,767)

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9.

Investor Protection, Equity Returns and Financial Globalization

Downloads 558 (101,779)
Citation 38

Investor Protection, Equity Returns and Financial Globalization

Number of pages: 58 Posted: 07 Nov 2006 Last Revised: 27 Oct 2008
Mariassunta Giannetti and Yrjo Koskinen
Stockholm School of Economics and Haskayne School of Business, University of Calgary
Downloads 558 (100,486)
Citation 38

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G11, G32, G38, F21, F36

Investor Protection, Equity Returns, and Financial Globalization

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 16 Jun 2008 Last Revised: 27 Mar 2012
Mariassunta Giannetti and Yrjo Koskinen
Stockholm School of Economics and Haskayne School of Business, University of Calgary

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Investor Protection, Corporate Governance, Private Benefits of Control, Stock Returns, Portfolio Choice, Home Equity Bias

10.

Private Information and Bargaining Power in Venture Capital Financing

Journal of Economics and Management Strategy, Forthcoming
Number of pages: 46 Posted: 04 Mar 2008 Last Revised: 07 Jun 2013
Yrjo Koskinen, Michael J. Rebello and Jun Wang
Haskayne School of Business, University of Calgary, University of Texas at Dallas - Naveen Jindal School of Management and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 537 (106,792)
Citation 3

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Venture capital, Asymmetric information, Bargaining power, Financial contracting, Investment distortions

11.

The Euro and Corporate Financing before the Crisis

Downloads 423 (142,144)
Citation 3

The Euro and Corporate Financing before the Crisis

Boston U. School of Management Research Paper No. 2011-1
Number of pages: 45 Posted: 10 Feb 2011 Last Revised: 14 Mar 2014
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 216 (286,377)

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euro, financial integration, external financing, debt financing, supply of capital, financial dependence

The Euro and Corporate Financing

Bank of Finland Research Discussion Paper No. 6/2011
Number of pages: 66 Posted: 12 Apr 2011
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 105 (527,640)

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euro, external financing, supply of capital, financial development, financial dependence, financial integration

The Euro and Corporate Financing before the Crisis

Journal of Financial Economics (JFE), Vol. 114, No. 3, 2014
Number of pages: 45 Posted: 10 Nov 2015 Last Revised: 06 May 2016
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 98 (554,213)
Citation 3

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euro, external financing, debt financing, leverage, supply of capital, financial dependence, financial fragility

The Euro and Corporate Financing

CEPR Discussion Paper No. DP8227
Number of pages: 60 Posted: 09 Feb 2011
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 4 (1,293,680)
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euro, external financing, financial dependence, financial development, supply of capital

12.

The Euro and Corporate Valuations

Downloads 384 (158,575)
Citation 22

The Euro and Corporate Valuations

Boston University School of Management Working Paper No. 2006-21
Number of pages: 60 Posted: 28 Feb 2004 Last Revised: 27 Oct 2008
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 384 (157,092)
Citation 22

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Economic and Monetary Union (EMU), the euro, valuation, cost of capital, currency risk, currency union

The Euro and Corporate Valuations

Review of Financial Studies, Forthcoming
Posted: 12 May 2008
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission

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Economic and Monetary Union (EMU), the euro, valuation, cost of capital, currency risk, currency union

The Euro and Corporate Valuations

The Review of Financial Studies, Vol. 22, Issue 8, pp. 3171-3209, 2009
Posted: 05 Aug 2009
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission

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F33, F36, G32

13.

The Real Effects of the Euro: Evidence from Corporate Investments

Downloads 327 (189,122)
Citation 4

The Real Effects of the Euro: Evidence from Corporate Investments

EFA 2004 Maastricht Meetings Paper No. 4652
Number of pages: 53 Posted: 02 Jul 2004
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 308 (199,974)
Citation 2

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EMU, the euro, investments, currency union, financial constraints

The Real Effects of the Euro: Evidence from Corporate Investments

Number of pages: 38 Posted: 21 Sep 2004
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 19 (1,100,269)
Citation 2
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Economic and Monetary Union (EMU), the euro, investments, cost of capital, currency union

The Real Effects of the Euro: Evidence from Corporate Investments

Review of Finance, Vol. 10, No. 1, 2006
Posted: 08 Jun 2005
Arturo Bris, Mattias Nilsson and Yrjo Koskinen
IMD International, U.S. Securities and Exchange Commission and Haskayne School of Business, University of Calgary

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EMU, the euro, currency union, investments

The Real Effects of the Euro: Evidence from Corporate Investments

Review of Finance, Vol. 10, Issue 1, pp. 1-37, 2006
Posted: 01 Sep 2008
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission

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14.

Stakeholder Orientation, Environmental Performance and Financial Benefits

European Corporate Governance Institute – Finance Working Paper No. 954/2024
Number of pages: 56 Posted: 29 Jan 2024
Yrjo Koskinen, Hao Lu and Nga Nguyen
Haskayne School of Business, University of Calgary, Saint Mary’s University and Universite du Quebec a Montreal
Downloads 325 (190,346)
Citation 1

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Environmental performance, systematic risk, valuation, profits, stakeholder orientation, corporate governance

15.

Does Limited Liability Matter? Evidence from a Quasi-Natural Experiment

Proceedings of Paris December 2020 Finance Meeting EUROFIDAI - ESSEC, European Corporate Governance Institute – Finance Working Paper No. 740/2021
Number of pages: 71 Posted: 24 Mar 2020 Last Revised: 19 Mar 2021
Yrjo Koskinen, Nga Nguyen and J. Ari Pandes
Haskayne School of Business, University of Calgary, Universite du Quebec a Montreal and University of Calgary - Haskayne School of Business
Downloads 253 (246,726)

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Limited Liability, Income Trusts, Financing, Investments

16.

Innovation, Competition, and Investment Timing

Review of Corporate Finance Studies, Forthcoming, Boston U. School of Management Research Paper No. 2012-25
Number of pages: 45 Posted: 29 Sep 2012 Last Revised: 06 May 2016
Yrjo Koskinen and Joril Maeland
Haskayne School of Business, University of Calgary and NHH Norwegian School of Economics - Department of Finance
Downloads 242 (257,931)

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Real options, Investment timing, Adverse selection, Incentives, Innovation Auctions

17.

Phoenix Rising: Legal Reforms and Changes in Valuations in Finland During the Economic Crisis

Downloads 131 (442,917)
Citation 1

Phoenix Rising: Legal Reforms and Changes in Valuations in Finland During the Economic Crisis

Bank of Finland Research Discussion Paper No. 1/2007, Boston University School of Management Working Paper No. 2006-18
Number of pages: 48 Posted: 28 Oct 2006 Last Revised: 27 Oct 2008
Timo P. Korkeamaki, Yrjo Koskinen and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics, Haskayne School of Business, University of Calgary and Bank of Finland
Downloads 131 (444,333)
Citation 1

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corporate governance, bankruptcy, financial supervision, shareholder protection, creditors' rights, corporate valuations, political economy

Phoenix Rising: Legal Reforms and Changes in Valuations in Finland During the Economic Crisis

Journal of Financial Stability, Vol. 3, No. 1, 2007
Posted: 09 Nov 2007 Last Revised: 27 Oct 2008
Timo P. Korkeamaki, Yrjo Koskinen and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics, Haskayne School of Business, University of Calgary and Bank of Finland

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corporate governance, bankruptcy, financial supervision, shareholder protection, creditors' rights, corporate valuations, political economy

18.

If You Want to Maximize Profits, Manage for the Long-Term

Number of pages: 43 Posted: 30 Oct 2020
Yrjo Koskinen, J. Ari Pandes and Shuai Yang
Haskayne School of Business, University of Calgary, University of Calgary - Haskayne School of Business and University of Calgary - Haskayne School of Business
Downloads 119 (477,209)

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constituency statutes, long-termism, profitability, executive compensation, employee turnover, trade credit

19.

The Euro is Good after All: Evidence from Corporate Valuations

Number of pages: 47 Posted: 22 Jul 2003
Arturo Bris, Yrjo Koskinen and Mattias Nilsson
IMD International, Haskayne School of Business, University of Calgary and U.S. Securities and Exchange Commission
Downloads 26 (986,490)
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Economic and monetary union (EMU), the euro, valuation, cost of capital, currency risk, currency union

20.

Investor Protection and Equity-Holdings: An Explanation of Two Puzzles?

Number of pages: 39 Posted: 01 Oct 2003
Mariassunta Giannetti and Yrjo Koskinen
Stockholm School of Economics and Haskayne School of Business, University of Calgary
Downloads 25 (997,124)
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Home equity bias, portfolio choice, limited participation, investor protection, private benefits of control

21.

Venture Capital Financing: The Role of Bargaining Power and the Evolution of Informational Asymmetry

CEPR Discussion Paper No. 5806
Number of pages: 56 Posted: 11 Oct 2006
Yrjo Koskinen, Michael J. Rebello and Jun Wang
Haskayne School of Business, University of Calgary, University of Texas at Dallas - Naveen Jindal School of Management and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 24 (1,008,122)
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Asymmetric information, financial contracting, venture capital, bargaining power, investment distortions

22.

Love in the Time of COVID-19: The Resiliency of Environmental and Social Stocks

CEPR Discussion Paper No. DP14661
Number of pages: 32 Posted: 08 May 2020
Rui A. Albuquerque, Yrjo Koskinen, Shuai Yang and Chendi Zhang
Boston College, Carroll School of Management, Haskayne School of Business, University of Calgary, University of Calgary - Haskayne School of Business and University of Exeter Business School
Downloads 22 (1,030,779)
Citation 3
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COVID-19, Customer loyalty, ESG, market crash, Stock returns, trading volume, volatility

23.

Corporate Financial Policies and Performance Around Currency Crises

Journal of Business, Vol. 77, No. 4, October 2004
Posted: 23 Feb 2004
Arturo Bris, Yrjo Koskinen and Vicente Pons-Sanz
IMD International, Haskayne School of Business, University of Calgary and Yale School of Management

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Currency crises, corporate leverage, capital structure, profitability, exchange rates