Mika Vaihekoski

University of Turku - Turku School of Economics

Professor

Turku, 20014

Finland

http://users.utu.fi/moovai/

SCHOLARLY PAPERS

31

DOWNLOADS
Rank 5,612

SSRN RANKINGS

Top 5,612

in Total Papers Downloads

5,997

CITATIONS
Rank 15,810

SSRN RANKINGS

Top 15,810

in Total Papers Citations

22

Scholarly Papers (31)

1.

On the Calculation of the Risk Free Rate for Tests of Asset Pricing Models

Number of pages: 17 Posted: 22 Jan 2007 Last Revised: 31 Aug 2009
Mika Vaihekoski
University of Turku - Turku School of Economics
Downloads 1,576 (7,253)
Citation 2

Abstract:

risk free rate, money market, asset pricing tests, event studies, CRSP, Euribor, T-bill

2.

Investment Evaluation Methods and Required Rate of Return in Finnish Publicly Listed Companies

Finnish Journal of Business Economics, Vol. 53, No. 1
Number of pages: 24 Posted: 13 May 2004
Eva Liljeblom and Mika Vaihekoski
Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics
Downloads 790 (17,811)
Citation 5

Abstract:

Investment, payback rule, IRR, NPV, WACC, CAPM, HEX

Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe

Number of pages: 28 Posted: 06 May 2005
Tomi Grönlund, Antti Louko and Mika Vaihekoski
Helsinki School of Economics, Aberdeen Property Investors Nordic Region and University of Turku - Turku School of Economics
Downloads 776 (23,166)

Abstract:

Real Estate, Event Study, Pecking order, Sale and Leaseback

Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe

European Financial Management, Vol. 14, Issue 4, pp. 820-843, September 2008
Number of pages: 24 Posted: 14 Aug 2008
Tomi Grönlund, Antti Louko and Mika Vaihekoski
Helsinki School of Economics, Aberdeen Property Investors Nordic Region and University of Turku - Turku School of Economics
Downloads 5 (522,863)

Abstract:

Descriptive Analysis of Finnish Equity, Bond, and Money Markets

Number of pages: 54 Posted: 06 Sep 2005 Last Revised: 02 Apr 2011
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics
Downloads 593 (33,716)
Citation 2

Abstract:

Equity, bond, money market, risk premium, Finland, Helsinki Stock Exchange

Descriptive Analysis of Finnish Equity, Bond and Money Markets

International Conference of the French Finance Association (AFFI), May 11-13, 2011
Number of pages: 52 Posted: 12 May 2011
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics
Downloads 32 (379,082)
Citation 2

Abstract:

5.

Profitability of Pairs Trading Strategy In and Illiquid Market with Multiple Share Classes

Journal of International Financial Markets, Institutions and Money, 2012, Vol. 22, No. 5, 1188-1201.
Number of pages: 26 Posted: 21 Dec 2010 Last Revised: 05 Jun 2013
John Paul Broussard and Mika Vaihekoski
Rutgers School of Business - Camden and University of Turku - Turku School of Economics
Downloads 366 (49,092)

Abstract:

Pairs, Trading Strategy, Statistical Arbitrage, Short-Selling, Finland, Helsinki Stock Exchange, NASDAQ, OMXH

Determinants of Capital Budgeting Methods and Hurdle Rates in Nordic Firms

Number of pages: 37 Posted: 19 Jan 2011
Tor Brunzell, Eva Liljeblom and Mika Vaihekoski
Stockholm University - School of Business, Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics
Downloads 347 (66,063)
Citation 1

Abstract:

capital budgeting methods, hurdle rate, WACC, NPV, IRR, Nordic countries

Determinants of Capital Budgeting Methods and Hurdle Rates in Nordic Firms

Accounting & Finance, Vol. 53, Issue 1, pp. 85-110, 2013
Number of pages: 26 Posted: 16 Mar 2013
Tor Brunzell, Eva Liljeblom and Mika Vaihekoski
Stockholm University - School of Business, Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics
Downloads 1 (549,098)
Citation 1

Abstract:

Capital budgeting methods, Hurdle rate, Weighted average cost of capital, Net Present Value, Internal Rate of Return, Nordic countries

7.

Owners' Way or the Highway: Short-Term Expectations and Owner Impatience

Number of pages: 52 Posted: 10 Jan 2007
Eva Liljeblom and Mika Vaihekoski
Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics
Downloads 170 (133,008)

Abstract:

impatience, short-termism, investment, compensation, share repurchases, ownership, Finland

8.

Unemployment Risk and Salary

Number of pages: 21 Posted: 31 May 2005 Last Revised: 30 Nov 2010
Mika Vaihekoski
University of Turku - Turku School of Economics
Downloads 149 (151,758)

Abstract:

Tenure, private, public, unemployment, risk, labor economics, reservation salary, occupation choice, job-search model

9.

History of Finance Research and Education in Finland: The First Thirty Years

Bank of Finland Research Discussion Paper No. 18/2008
Number of pages: 44 Posted: 17 Sep 2008
Mika Vaihekoski
University of Turku - Turku School of Economics
Downloads 122 (172,279)

Abstract:

financial education, research, graduate school, Finland, history, professors, dissertation

10.

Dividend Policy in Nordic Listed Firms

Global Finance Journal, Vol. 25, No. 2, 2014
Number of pages: 30 Posted: 21 Aug 2013 Last Revised: 04 Dec 2014
Stockholm University - School of Business, Swedish School of Economics and Business Administration, Hanken School of Economics and University of Turku - Turku School of Economics
Downloads 102 (174,372)

Abstract:

corporate finance, dividend policy, payout, Nordic, OMX

11.

Capital Structure Policy Decisions in Nordic Listed Firms

Nordic Journal of Business, June 2015, vol. 64, no. 1, 4-20.
Number of pages: 27 Posted: 06 Jun 2013 Last Revised: 06 Jul 2016
Stockholm University - School of Business, Swedish School of Economics and Business Administration, Hanken School of Economics and University of Turku - Turku School of Economics
Downloads 100 (186,721)

Abstract:

corporate finance, dividend policy, payout, debt target, capital structure, Nordic, Nasdaq OMX

12.

Expected Return and Conditional Asset Pricing: A New Testing Approach

Number of pages: 44 Posted: 28 Nov 2014 Last Revised: 28 Aug 2015
Jan Antell and Mika Vaihekoski
HANKEN School of Economics and University of Turku - Turku School of Economics
Downloads 97 (170,258)

Abstract:

conditional asset pricing, expected returns, volatility, risk-return trade-off, equity premium

Global and Local Sources of Risk in Eastern European Emerging Stock Markets

BOFIT Discussion Paper No. 27/2008
Number of pages: 32 Posted: 10 Jan 2009
Mika Vaihekoski and Elena Fedorova
University of Turku - Turku School of Economics and Lappeenranta University of Technology, School of Business
Downloads 78 (250,310)

Abstract:

market integration, segmentation, asset pricing, emerging markets, Eastern Europe country risk

Global and Local Sources of Risk in Eastern European Emerging Stock Markets

Czech Journal of Economics and Finance, Vol. 59, No. 1, pp. 2-19, 2009
Posted: 25 Sep 2009
Elena Fedorova and Mika Vaihekoski
Lappeenranta University of Technology, School of Business and University of Turku - Turku School of Economics

Abstract:

market integration, segmentation, asset pricing, emerging markets, Eastern Europe country risk

14.

Descriptive Analysis of Finnish Equity, Bond and Money Market Returns

Bank of Finland Research Discussion Paper No. 14/2011
Number of pages: 63 Posted: 09 Jun 2011
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics
Downloads 57 (274,785)

Abstract:

equity market, bond market, money market, risk premium, Finland

15.

A New Value-Weighted Total Return Index for the Finnish Stock Market

Bank of Finland Research Discussion Paper No. 21/2009
Number of pages: 64 Posted: 27 Nov 2009
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics
Downloads 55 (266,069)
Citation 3

Abstract:

stock market index, Finland, Helsinki Stock Exchange, Nasdaq OMX, OMXH, Unitas

16.

Descriptive Analysis of the Finnish Stock Market: Part II

Bank of Finland Research Discussion Paper No. 10/2014
Number of pages: 34 Posted: 19 Mar 2014
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics
Downloads 34 (306,596)

Abstract:

stock market, financial history, dividend yield, capitalization values, trading turnover, Finland, Helsinki Stock Exchange, Nasdaq OMX

17.

Portfolio Construction for Tests of Asset Pricing Models

Financial Markets, Institutions & Instruments, Vol. 13, No. 1, pp. 1-39, February 2004
Number of pages: 125 Posted: 03 May 2004
Mika Vaihekoski
University of Turku - Turku School of Economics
Downloads 33 (366,235)
Citation 9

Abstract:

18.

Countercyclical and Time-Varying Risk Aversion and the Equity Premium

Number of pages: 31 Posted: 24 Mar 2016 Last Revised: 03 Nov 2016
Jan Antell and Mika Vaihekoski
HANKEN School of Economics and University of Turku - Turku School of Economics
Downloads 0 (293,599)

Abstract:

asset pricing, GARCH, conditional, price of market risk, risk aversion, equity premium, USA

19.

Short‐Term Expectations in Listed Firms: The Effects of Different Owner Types

Journal of International Financial Management & Accounting, Vol. 26, Issue 3, pp. 223-256, 2015
Number of pages: 34 Posted: 03 Sep 2015
Tor Brunzell, Eva Liljeblom and Mika Vaihekoski
Stockholm University - School of Business, Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics
Downloads 0 (531,768)

Abstract:

20.

Time-Varying Global and Local Sources of Market and Currency Risks in Russian Stock Market

International Review of Economics & Finance, Vol. 19, No. 4, 2010
Posted: 28 Sep 2010
Kashif Saleem and Mika Vaihekoski
Lappeenranta University of Technology - School of Business (LSB) and University of Turku - Turku School of Economics

Abstract:

International asset pricing models, Segmentation, Currency risk, Multivariate GARCH-M, Russia

21.

Pricing Currency Risk in the Stock Market: Evidence from Finland and Sweden 1970-2009

Journal of International Financial Markets, Institutions and Money, Vol. 22, No. 1, 2012
Posted: 31 Oct 2009 Last Revised: 20 Aug 2013
Jan Antell and Mika Vaihekoski
HANKEN School of Economics and University of Turku - Turku School of Economics

Abstract:

conditional, international asset pricing model, currency risk, devaluation, multivariate GARCH-M, Finland, Sweden

22.

Who Creates Short-Term Pressure? An Analysis of Firms with Different Ownership Structures

Finnish Journal of Business Economics, Vol. 59, No. 3, pp. 239-264, 2010
Posted: 26 Mar 2009 Last Revised: 12 Jan 2011
Eva Liljeblom and Mika Vaihekoski
Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics

Abstract:

short-term behavior, ownership, corporate governance, executive compensation, share repurchases, ownership management

23.

Corporate Ownership and Managerial Short-Termism: Results from a Finnish Study of Management Perceptions

International Journal of Production Economics, Vol. 117, No. 2, 2009
Posted: 20 Feb 2009
Eva Liljeblom and Mika Vaihekoski
Swedish School of Economics and Business Administration and University of Turku - Turku School of Economics

Abstract:

Impatience, Short-termism, Investments, Ownership, Finland

24.

A New Value-Weighted Total Return Index for the Finnish Stock Market 1912-1969

Research in International Business and Finance, 2010, Vol. 24, No. 3, pp. 267-283.
Posted: 12 Aug 2008 Last Revised: 20 Aug 2013
Peter M. Nyberg and Mika Vaihekoski
Aalto University and University of Turku - Turku School of Economics

Abstract:

stock market index, Finland, Helsinki Stock Exchange, Nasdaq OMX, OMXH, Unitas

25.

History of Financial Research and Education in Finland: The First 30 Years

European Journal of Finance, Vol. 17, Nos. 5-6, pp. 339-354, 2011
Posted: 06 Mar 2008 Last Revised: 07 Sep 2016
Mika Vaihekoski
University of Turku - Turku School of Economics

Abstract:

financial education, research, dissertations, graduate school, Finland, history, professors

26.

Global Market and Currency Risk in Finnish Stock Market

Finnish Economic Papers, Vol. 20, No. 1, pp. 72-88, 2007
Posted: 15 Aug 2007
Mika Vaihekoski
University of Turku - Turku School of Economics

Abstract:

Asset pricing, international, conditional, time-varying, currency risk, price of risk, Finland, GMM

27.

Pricing of Liquidity Risk: Empirical Evidence from Finland

Applied Financial Economics, 2009, Vol. 19, No. 19, 1547-1557.
Posted: 28 Aug 2006 Last Revised: 08 Sep 2016
Mika Vaihekoski
University of Turku - Turku School of Economics

Abstract:

Conditional asset pricing, liquidity risk, trading volume, bid-ask spread, Finland, Helsinki Stock Exchange

28.

Pricing of Global and Local Sources of Risk in Russian Stock Market

Emerging Markets Review, Vol. 9, No. 1, 2008
Posted: 22 May 2006 Last Revised: 20 Aug 2013
Kashif Saleem and Mika Vaihekoski
Lappeenranta University of Technology - School of Business (LSB) and University of Turku - Turku School of Economics

Abstract:

world asset pricing model, conditional, time-varying, price of market risk, local vs. global pricing, segmentation, foreign exchange risk, multivariate GARCH-M, Russia, USA

29.

International Asset Pricing Models and Currency Risk: Evidence from Finland 1970-2004

Journal of Banking and Finance, Vol. 31, No. 9, 2007
Posted: 01 May 2005
Jan Antell and Mika Vaihekoski
HANKEN School of Economics and University of Turku - Turku School of Economics

Abstract:

World asset pricing model, conditional, time-varying, price of market risk, local vs. global pricing, segmentation, foreign exchange risk, multivariate GARCH-M, Finland, USA, U.S. dollar

30.

Portfolio Construction in Emerging Markets

Emerging Markets Quarterly, Vol. 4, No. 3, pp. 68-78, 2000
Posted: 26 Sep 2001 Last Revised: 11 Aug 2009
Mika Vaihekoski
University of Turku - Turku School of Economics

Abstract:

31.

Sources of Capital Market Segmentation: Empirical Evidence from Finland

The Financial Review, 2001, vol. 36, no. 2, 139-159.
Posted: 04 Sep 2001 Last Revised: 06 Jul 2016
Mika Vaihekoski
University of Turku - Turku School of Economics

Abstract:

segmentation, integration, conditional asset pricing, Finland, gmm estimation