Tuomas Takalo

Bank of Finland

P.O. Box 160

Helsinki 00101

Finland

SCHOLARLY PAPERS

44

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46

CROSSREF CITATIONS

199

Scholarly Papers (44)

1.
Downloads 938 ( 35,170)
Citation 1

Valuation of Innovation: The Case of Iphone

Bank of Finland Research Discussion Paper No. 24/2012
Number of pages: 44 Posted: 18 Jul 2012
Timo P. Korkeamaki and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics and Bank of Finland
Downloads 542 (71,696)
Citation 2

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innovation management, intellectual property rights, valuation, event studies

Valuation of Innovation: The Case of iPhone

Number of pages: 36 Posted: 29 Dec 2010
Timo P. Korkeamaki and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics and Bank of Finland
Downloads 396 (104,416)

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innovation, R&D, patent, iPhone

2.

Enhancing Bank Transparency: A Re-Assessment

Bank of Finland Discussion Paper No. 10/2000
Number of pages: 34 Posted: 07 Sep 2001
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 320 (133,098)
Citation 4

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information disclosure, market discpline, bank transparency, deposit insurance, financial safety net

3.

Evaluating Innovation Policy: A Structural Treatment Effect Model of R&D Subsidies

Bank of Finland Research Discussion Paper No. 7/2008
Number of pages: 62 Posted: 12 Mar 2008
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 270 (158,679)
Citation 32

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applications, effort, investment, R&D, selection, subsidies, treatment programme, treatment effects, welfare

4.

Capital Market Development, Corporate Governance and the Credibility of Exchange Rate Pegs

Number of pages: 30 Posted: 12 Dec 2002
Olli Castren and Tuomas Takalo
European Central Bank (ECB) and Bank of Finland
Downloads 252 (169,966)

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Exchange Rate Pegs, Speculative Attacks, Output Persistence, Capital Market Frictions, Corporate Governance

5.

Intellectual Property Rights and Standard Setting in Financial Services: The Case of the Single European Payments Area

FRB of Philadelphia Working Paper No. 07-20
Number of pages: 43 Posted: 03 Oct 2007
Robert M. Hunt, Samuli Simojoki and Tuomas Takalo
Consumer Finance Institute, Federal Reserve Bank of Philadelphia, Attorneys at Law Borenius & Kemppinen Ltd and Bank of Finland
Downloads 234 (182,484)
Citation 3

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SEPA, business method patents, electronic payments, standard setting, licensing

6.

Adverse Selection and Financing of Innovation: Is There a Need for R&D Subsidies?

Bank of Finland Research Discussion Paper No. 19/2008
Number of pages: 44 Posted: 01 Jan 2009
Tuomas Takalo and Tanja Tanayama
Bank of Finland and Government of the Republic of Finland - National Audit Office of Finland
Downloads 210 (202,054)
Citation 18

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adverse selection, innovation finance, financial constraints, R&D subsidies, certification

7.

Consumer Awareness and the Use of Payment Media: Evidence from Young Finnish Consumers

Bank of Finland Research Discussion Paper No. 2/2008
Number of pages: 37 Posted: 27 Feb 2008
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 210 (202,054)
Citation 29

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payment media, consumer awareness, adoption of financial technology

8.

Investor Protection and Business Creation

Bank of Finland Discussion Paper No. 17/2003
Number of pages: 36 Posted: 15 Oct 2003
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 168 (245,691)
Citation 3

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investor protection, start-up financing, private equity market, entrepreneurship, corporate finance

9.

Law of Finance: Evidence from Finland

Bank of Finland Discussion Paper No. 8/2002
Number of pages: 60 Posted: 23 Jul 2003
Ari Hyytinen, Iikka Kuosa and Tuomas Takalo
University of Jyväskylä, Helsinki School of Economics and LTT Research Ltd. and Bank of Finland
Downloads 165 (249,459)
Citation 16

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corporate finance, financial intermediation, corporate governance

10.

Equilibrium in Financial Markets with Adverse Selection

Bank of Finland Discussion Paper No. 6/2003
Number of pages: 48 Posted: 02 Oct 2003
Tuomas Takalo and Otto Toivanen
Bank of Finland and Aalto University - Department of Economics
Downloads 161 (254,795)

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11.

Optimal Bank Transparency

Journal of Money, Credit, and Banking, Forthcoming, Bank of Finland Research Discussion Paper No. 9/2012
Number of pages: 34 Posted: 06 Mar 2012 Last Revised: 05 Jan 2015
Diego Moreno and Tuomas Takalo
Universidad Carlos III de Madrid - Department of Economics and Bank of Finland
Downloads 153 (265,553)
Citation 12

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financial stability, information disclosure, market discipline, Basel III, global games

12.

Rationales and Instruments for Public Innovation Policies

Bank of Finland Research Discussion Paper No. 1/2013
Number of pages: 32 Posted: 14 Feb 2013
Tuomas Takalo
Bank of Finland
Downloads 146 (275,733)
Citation 13

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innovation policies, innovation, R&D, incentives, market failures

13.

Optimal Patent Policy for Pharmaceutical Industry

VATT Institute for Economic Research Working Papers 131
Number of pages: 62 Posted: 18 Jun 2020
Olena Izhak, Tanja Saxell and Tuomas Takalo
Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), VATT and Bank of Finland
Downloads 132 (298,077)

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patent policy, pharmaceuticals, generic entry, innovation, imitation

14.

Multihoming in the Market for Payment Media: Evidence from Young Finnish Consumers

Bank of Finland Research Discussion Paper No. 25/2004
Number of pages: 43 Posted: 29 Aug 2005
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 111 (337,823)
Citation 15

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payment media, multihoming, consumer awareness, adoption of financial technology

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 101 (362,515)
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

16.

Candidate Quality

Number of pages: 35 Posted: 28 Jan 2004
Panu Poutvaara and Tuomas Takalo
University of Helsinki - Department of Economics and Bank of Finland
Downloads 100 (362,197)
Citation 24

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17.

Market Failures and the Additionality Effects of Public Support to Private R&D: Theory and Empirical Implications

Bank of Finland Research Discussion Paper No. 2/2013
Number of pages: 43 Posted: 18 Feb 2013
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 84 (403,437)
Citation 33

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R&D, entrepreneurial finance, R&D subsidies, innovation policy

18.

Promoting Efficient Retail Payments in Europe

Journal of Payments Strategy & Systems, Volume 8 (2014-2015) Number 4 - Special issue on the future of retail payments in Europe , Bank of Finland Research Discussion Paper No. 20/2014
Number of pages: 21 Posted: 14 Oct 2014 Last Revised: 05 Mar 2015
Iftekhar Hasan, Emmi Martikainen and Tuomas Takalo
Fordham University, Finnish Competition and Consumer Authority and Bank of Finland
Downloads 83 (406,270)
Citation 1

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retail payment, SEPA, competition, consumer protection, economic performance

19.

Law and Stock Markets: Evidence from an Emerging Market

Bank of Finland Research Discussion Paper No. 1/2010
Number of pages: 37 Posted: 28 Feb 2010
Timo P. Korkeamaki, Elina Rainio and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics, affiliation not provided to SSRN and Bank of Finland
Downloads 72 (440,103)

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corporate governance, investor protection, law and finance, transparency, Sarbanes-Oxley Act

Welfare Effects of R&D Support Policies

Bank of Finland Research Discussion Paper No. 30/2017
Number of pages: 69 Posted: 18 Oct 2017 Last Revised: 21 Jan 2022
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 69 (455,952)

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R&D subsidies, R&D tax credits, extensive and intensive margin, welfare, counterfactual, economic growth

Welfare Effects of R&D Support Policies

CEPR Discussion Paper No. DP12155
Number of pages: 66 Posted: 25 Jul 2017
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
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counterfactual, R&D subsidies, welfare

21.

Competition before Sunset: The Case of the Finnish ATM Market

Review of Network Economics Volume 13, Issue 1, 2014: 1–33 , Bank of Finland Research Discussion Paper No. 32/2012
Number of pages: 34 Posted: 10 Nov 2012 Last Revised: 11 Feb 2015
Maria Kopsakangas-Savolainen and Tuomas Takalo
Finnish Environment Institute and Bank of Finland
Downloads 69 (450,197)
Citation 6

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ATM industry, regulation, competition policy, cash availability, retail payments

Does State Street Lead to Europe? The Case of Financial Exchange Innovations

Bank of Finland Research Discussion Paper No. 22/2009
Number of pages: 56 Posted: 28 Nov 2009
Mari Komulainen and Tuomas Takalo
National Board of Patents and Registration of Finland and Bank of Finland
Downloads 65 (470,414)
Citation 15

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finance patents, financial innovation, business method patents, patent policy, management of intellectual property in financial services

Does State Street Lead to Europe? The Case of Financial Exchange Innovations

European Financial Management, Vol. 19, Issue 3, pp. 521-557, 2013
Number of pages: 37 Posted: 05 Jun 2013
Mari Komulainen and Tuomas Takalo
National Board of Patents and Registration of Finland and Bank of Finland
Downloads 0
Citation 1

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Finance patents, business method patents, stock exchanges, management of financial innovations, patent policy

23.

Switching Costs and Financial Stability

Bank of Finland Research Discussion Paper No. 2/2016
Number of pages: 28 Posted: 02 Mar 2016 Last Revised: 18 Nov 2021
Rune Stenbacka and Tuomas Takalo
Hanken School of Economics and Bank of Finland
Downloads 62 (475,238)

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deposit market competition, financial stability, bank failures, switching cost, competition versus stability tradeoff

24.

Convergence in European Retail Payments

ECB Occasional Paper No. 147
Number of pages: 34 Posted: 24 Aug 2013
Emmi Martikainen, Heiko Schmiedel and Tuomas Takalo
University of Turku - Department of Economics, European Central Bank - Securities Settlement Systems Policy Division and Bank of Finland
Downloads 62 (475,238)
Citation 1

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convergence, financial integration, retail payments

25.

Labour Market Reform and the Sustainability of Exchange Rate Pegs

Bank of Finland Research Discussion Paper No. 22/2004, ECB Working Paper No. 406, Cass Business School Research Paper
Number of pages: 37 Posted: 13 Dec 2004
Olli Castren, Tuomas Takalo and Geoffrey Wood
European Central Bank (ECB), Bank of Finland and Cass Business School
Downloads 47 (537,564)
Citation 11

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exchange rate policy, labour market flexibility, structural reform

26.

Enhancing Bank Transparency: A Re-Assessment

Bank of Finland Research Discussion Paper No. 10/2000
Number of pages: 1 Posted: 17 Aug 2017 Last Revised: 18 Nov 2021
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 44 (551,920)
Citation 6

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27.

Saving Wall Street or Main Street

Bank of Finland Research Discussion Paper No. 12/2016
Number of pages: 74 Posted: 16 May 2016
Bank of Finland - Research, Bank of FinlandUniversity of Helsinki and Bank of Finland
Downloads 36 (593,557)

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E44, G21, G28, G38, financial frictions, bank capitalization, public funding of non-financial firms

28.

Evaluating the US Pharmaceutical Patent Policy

Bank of Finland Research Discussion Paper No. 16/2021
Number of pages: 67 Posted: 05 Jan 2022
Olena Izhak, Tanja Saxell and Tuomas Takalo
Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), Government of the Republic of Finland - VATT Institute for Economic Research and Bank of Finland
Downloads 34 (604,881)

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patent policy, pharmaceuticals, generic entry, innovation, imitation

29.

The Optimal Duration of Contracts

CESifo Working Paper Series No. 6808
Number of pages: 46 Posted: 21 Feb 2018
Panu Poutvaara, Tuomas Takalo and Andreas Wagener
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Bank of Finland and Leibniz Universität Hannover - Economics and Business Administration Area
Downloads 34 (604,881)

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contract length, term length, screening

30.

Preventing Systemic Crises Through Bank Transparency

Economic Notes, Vol. 33, No. 2, pp. 257-273, July 2004
Number of pages: 18 Posted: 19 Nov 2004
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland
Downloads 30 (629,235)

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31.

Staged Equity Financing

Bank of Finland Research Discussion Paper No. 15/2020
Number of pages: 53 Posted: 14 Jan 2021
Magnus Blomkvist, Timo Korkeamäki and Tuomas Takalo
Audencia Business School, Hanken School of Economics and Bank of Finland
Downloads 28 (642,249)

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32.

Intermediation in a Directed Search Model

Bank of Finland Research Discussion Paper No. 20/2018
Number of pages: 18 Posted: 29 Oct 2018 Last Revised: 18 Nov 2021
University of Helsinki - Department of Political and Economic Studies, Bank of Finland and University of TurkuBank of Finland - Research
Downloads 25 (663,216)

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directed search, intermediation, middlemen

33.

Welfare Effects of R&D Support Policies

Bank of Finland Research Discussion Paper No. 2/2022
Number of pages: 67 Posted: 19 Jan 2022 Last Revised: 21 Jan 2022
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, European Union - European Investment Bank and Aalto University - Department of Economics
Downloads 23 (677,982)

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R&D subsidies, R&D tax credits, extensive and intensive margin, financial market imperfections, welfare, counterfactual, economic growth

34.

Public Funding of Banks and Firms in a Time of Crisis

Bank of Finland Research Discussion Paper No. 8/2022
Number of pages: 95 Posted: 28 Jun 2022 Last Revised: 30 Jun 2022
Bank of Finland - Research, Bank of FinlandUniversity of Helsinki and Bank of Finland
Downloads 19 (709,120)

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economic crises, optimal public funding, financial frictions, macro-financial linkage

35.

Relative Age Effects in Political Selection

Bank of Finland Research Discussion Paper No. 15/2018
Number of pages: 45 Posted: 30 May 2019
University of Turku - Turku School of Business - Department of EconomicsVATT Institute for Economic Research, Bank of Finland and StattFinn Ltd.
Downloads 14 (751,566)

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political selection, political competition, gender differences, regression discontinuity design, relative age effect

36.

Precision of Public Information Disclosures, Banks’ Stability and Welfare

Bank of Finland Research Discussion Paper No. 3/2021
Number of pages: 49 Posted: 08 Mar 2021
Tuomas Takalo and Diego Moreno
Bank of Finland and Universidad Carlos III de Madrid - Department of Economics
Downloads 12 (770,017)

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37.

Switching Costs in the Finnish Retail Deposit Market

Bank of Finland Research Discussion Paper No. 15/2019
Number of pages: 21 Posted: 15 Oct 2021
Tuomas Takalo
Bank of Finland
Downloads 4 (850,631)

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swithcing costs, bank competition, customer loyalty programs

38.

Valuation of Innovation and Intellectual Property: The Case of Iphone

European Management Review, Vol. 10, Issue 4, pp. 197-210, 2013
Number of pages: 14 Posted: 10 Dec 2013
Timo Korkeamäki and Tuomas Takalo
Hanken School of Economics and Bank of Finland
Downloads 4 (850,631)
Citation 1

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innovation management, intellectual property rights, valuation, event studies, resource‐based theory

39.

Entrepreneurship, Financiership, and Selection

The Scandinavian Journal of Economics, Vol. 114, Issue 2, pp. 601-628, 2012
Number of pages: 28 Posted: 16 May 2012
Tuomas Takalo and Otto Toivanen
Bank of Finland and Aalto University - Department of Economics
Downloads 2 (875,112)

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Asymmetric information, credit constraints, entrepreneurial finance, financial market efficiency, start‐up creation

40.

Reforming Corporate Law in an Emerging Market

Economics of Transition, Vol. 21, Issue 3, pp. 509-551, 2013
Number of pages: 43 Posted: 06 Jul 2013
Timo P. Korkeamaki, Elina Rainio and Tuomas Takalo
Hanken School of Economics - Department of Finance and Statistics, affiliation not provided to SSRN and Bank of Finland
Downloads 1 (889,430)

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Investor protection, transparency, law and finance, corporate governance

41.

Secrecy Versus Patenting

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 04 Nov 2009
Juuso Toikka, Klaus Kultti and Tuomas Takalo
Department of Economics, MIT, University of Helsinki - Department of Political and Economic Studies and Bank of Finland

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Prior user rights, Innovations, Intellectual property, Inventors, Patent ownership, Patents, Trade secrets, Incentives, Information dissemination

42.

Corporate Law and Small Business Finance: Mandatory V. Enabling Rules

European Business Organization Law Review, Vol. 6, No. 3, pp. 449-468, 2005
Posted: 19 Oct 2005
Ari Hyytinen and Tuomas Takalo
University of Jyväskylä and Bank of Finland

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Investor protection, start-up financing, entrepreneurship, corporate finance, company law reform

43.

Selection or Self-Rejection? Applications into a Treatment Program: The Case of R&D Subsidies

RICAFE Working Paper No. 014
Posted: 16 Feb 2005
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics

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Applications, effort, investment, rate of return, R&D, selection, subsidies, treatment program, treatment effects, welfare

44.

Incomplete Contracting in an R&D Project: The Micronas Case

R&D Management, Vol. 30, No. 1, January 2000
Posted: 31 Jul 2000
Klaus Kultti and Tuomas Takalo
University of Helsinki - Department of Political and Economic Studies and Bank of Finland

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