Sami Vähämaa

University of Vaasa

Professor of Accounting and Finance

P.O. Box 700

Vaasa, FI-65101

Finland

http://www.uwasa.fi/~sami

SCHOLARLY PAPERS

43

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SSRN CITATIONS
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Top 8,761

in Total Papers Citations

175

CROSSREF CITATIONS

19

Scholarly Papers (43)

1.

Did Good Corporate Governance Improve Bank Performance During the Financial Crisis?

Journal of Financial Services Research, Vol. 41, No. 1-2, pp. 19-35, 2012
Number of pages: 31 Posted: 15 Jan 2011 Last Revised: 25 Apr 2012
Emilia Vähämaa and Sami Vähämaa
Hanken School of Economics and University of Vaasa
Downloads 1,180 (34,116)
Citation 7

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Corporate Governance, Bank Performance, Financial Crisis

2.

Are Female CEOs and Chairwomen More Conservative and Risk Averse? Evidence from the Banking Industry during the Financial Crisis

Journal of Business Ethics, Vol. 131, No. 3, pp. 577-594, 2015, 25th Australasian Finance and Banking Conference 2012
Number of pages: 48 Posted: 28 Aug 2012 Last Revised: 28 Nov 2015
Ajay A. Palvia, Emilia Vähämaa and Sami Vähämaa
Government of the United States of America - Federal Deposit Insurance Corporation (FDIC), Hanken School of Economics and University of Vaasa
Downloads 928 (47,950)
Citation 17

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female CEOs, Chairwomen, bank risk-taking, bank failures, financial crisis

3.

Delta Hedging with the Smile

Financial Markets and Portfolio Management, Vol. 18, No. 3, pp. 241-255, 2004
Number of pages: 26 Posted: 12 Sep 2005 Last Revised: 29 Dec 2020
Sami Vähämaa
University of Vaasa
Downloads 908 (49,497)
Citation 1

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4.

Does Female Representation on Audit Committees Affect Audit Fees?

Quarterly Journal of Finance and Accounting, Vol. 49, No. 3-4, pp. 113-139, 2010
Number of pages: 45 Posted: 10 Dec 2008 Last Revised: 28 Apr 2012
Kim Ittonen, Johanna Miettinen and Sami Vähämaa
Hanken School of Economics - Department of Accounting, University of Vaasa - Department of Accounting and Finance and University of Vaasa
Downloads 886 (51,142)
Citation 7

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gender diversity, audit fees, audit committees, corporate governance

5.

U.S. Presidential Elections and Implied Volatility: The Role of Political Uncertainty

Journal of Banking and Finance, Vol. 37, No. 3, pp. 1108–1117, 2013
Number of pages: 34 Posted: 04 Mar 2012 Last Revised: 01 Nov 2013
John W. Goodell and Sami Vähämaa
University of Akron - Department of Finance, College of Business Administration and University of Vaasa
Downloads 704 (69,512)
Citation 23

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Presidential elections, political uncertainty, implied volatility, VIX

6.

Age, Gender, and Risk-Taking: Evidence from the S&P 1500 Executives and Market-Based Measures of Firm Risk

Journal of Business Finance & Accounting, Vol. 48, No. 9-10, pp. 1988-2014, 2021
Number of pages: 52 Posted: 10 Jan 2015 Last Revised: 06 Sep 2022
Stockholm University - Stockholm Business School, Aalto University, Lafayette College - Department of Economics & Business and University of Vaasa
Downloads 655 (76,208)
Citation 8

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Executives, CEOs, CFOs, age, gender, firm risk, risk-taking

7.

Business Research in the Nordic Countries: An Analysis of Research Output Across Countries, Disciplines, and Institutions

Nordic Journal of Business, Vol. 64, No. 4, pp. 263-293, 2015
Number of pages: 48 Posted: 10 Nov 2015 Last Revised: 23 Mar 2016
Jukka Sihvonen and Sami Vähämaa
Aalto University and University of Vaasa
Downloads 557 (93,373)

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Business research, research output, journal publications, Nordic business schools, university rankings

8.

Does Lesbian and Gay Friendliness Pay Off? A New Look at LGBT Policies and Firm Performance

Accounting & Finance, Vol. 62, No. 1, pp. 213-242, 2022
Number of pages: 48 Posted: 12 Apr 2019 Last Revised: 06 Sep 2022
Veda Fatmy, John Kihn, Jukka Sihvonen and Sami Vähämaa
University of Vaasa, University of Vaasa - Department of Accounting and Finance, Aalto University and University of Vaasa
Downloads 491 (109,064)
Citation 7

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LGBT policies, firm performance, sexual minorities, employee policies

9.

Evaluating Publications Across Business Disciplines: Inferring Interdisciplinary 'Exchange Rates' from Intradisciplinary Author Rankings

Journal of Business Research, Vol. 84, No. 1, 2018, DOI: 10.1016/j.jbusres.2017.11.024
Number of pages: 60 Posted: 11 Jun 2016 Last Revised: 13 Dec 2017
Timo P. Korkeamaki, Jukka Sihvonen and Sami Vähämaa
Hanken School of Economics - Department of Finance and Statistics, Aalto University and University of Vaasa
Downloads 485 (110,680)
Citation 3

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Business research, journal publications, author rankings

10.

Do Former Auditors on the Audit Committee Constrain Earnings Management? Evidence from the Banking Industry

Number of pages: 47 Posted: 24 Mar 2016 Last Revised: 31 Mar 2020
Kim Ittonen, Per Tronnes and Sami Vähämaa
Hanken School of Economics - Department of Accounting, University of New South Wales (UNSW) and University of Vaasa
Downloads 485 (110,680)
Citation 2

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Audit committees, former auditors, ex-auditors, discretionary loan loss provisions, earnings management, banks

11.

LGBTQ-Friendly Employee Policies and Corporate Innovation

Number of pages: 62 Posted: 08 Jun 2021 Last Revised: 22 Dec 2022
Veda Fatmy, Jukka Sihvonen and Sami Vähämaa
University of Vaasa, Aalto University and University of Vaasa
Downloads 472 (114,259)
Citation 1

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LGBTQ policies, sexual minorities, employee policies, diversity management, corporate innovation, patents

12.

Facial Attractiveness and CEO Compensation: Evidence from the Banking Industry

Journal of Economics and Business, Forthcoming
Number of pages: 74 Posted: 28 Jan 2021 Last Revised: 08 Nov 2022
University of Vaasa, University of Vaasa, Hanken School of Economics and University of Vaasa
Downloads 451 (120,630)
Citation 1

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Facial attractiveness, CEO compensation, beauty premium, bank CEOs

13.

Does the Decision to Issue Public Debt Affect Firm Valuation? Russian Evidence

Emerging Markets Review, Vol. 20, No. 1, pp. 136-151, 2014
Number of pages: 32 Posted: 28 Nov 2011 Last Revised: 19 Jun 2017
Denis Davydov, Jussi Nikkinen and Sami Vähämaa
Hanken School of Economics, University of Vaasa - Department of Accounting and Finance and University of Vaasa
Downloads 387 (143,926)

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debt financing, bonds, firm valuation, firm performance, emerging markets

14.

Forward-Looking Monetary Policy Rules and Option-Implied Interest Rate Expectations

Journal of Futures Markets, Vol. 34, No. 4, pp. 346-373, 2014
Number of pages: 51 Posted: 25 Mar 2010 Last Revised: 19 Dec 2015
Jukka Sihvonen and Sami Vähämaa
Aalto University and University of Vaasa
Downloads 370 (151,294)

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interest rate expectations, implied probability distributions, forward-looking monetary policy rules, Taylor rules

15.

The Fed’s Policy Decisions and Implied Volatility

Journal of Futures Markets, Vol. 31, No. 10, pp. 995-1010, 2011
Number of pages: 21 Posted: 25 Mar 2010 Last Revised: 29 Nov 2011
Sami Vähämaa and Janne Jaakko Äijö
University of Vaasa and University of Vaasa, Department of Accounting and Finance
Downloads 362 (155,014)
Citation 8

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monetary policy decisions, implied volatility, stock market uncertainty

16.

Corporate Governance and the Systemic Risk of Financial Institutions

Journal of Economics and Business, Vol. 82, No. 1, pp. 42-61, 2015, 27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 45 Posted: 23 Aug 2014 Last Revised: 28 Nov 2015
Jamshed Iqbal, Sascha Strobl and Sami Vähämaa
University of Jyväskylä, Clarmont Graduate University and University of Vaasa
Downloads 347 (162,343)
Citation 6

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corporate governance; boards; systemic risk; bank risk-taking; financial crisis

17.

Option-Implied Asymmetries in Bond Market Expectations Around Monetary Policy Actions of the ECB

Number of pages: 38 Posted: 18 May 2004
Sami Vähämaa
University of Vaasa
Downloads 345 (163,361)
Citation 2

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market expectations, asymmetries, implied skewness, monetary policy

18.

CEO Facial Masculinity and Bank Risk-Taking

Personality and Individual Differences, Vol. 138, pp. 133-139, 2019
Number of pages: 29 Posted: 14 Jun 2018 Last Revised: 28 May 2021
Shaker Ahmed, Jukka Sihvonen and Sami Vähämaa
University of Vaasa, Aalto University and University of Vaasa
Downloads 344 (163,883)

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CEO Masculinity, Facial Width-to-Height Ratio, fWHR, Bank Risk-Taking

19.

Another Look at Value and Momentum: Volatility Spillovers

Review of Quantitative Finance and Accounting, Vol. 55, pp. 1459-1479, 2020
Number of pages: 44 Posted: 16 Mar 2017 Last Revised: 29 Dec 2020
Klaus Grobys and Sami Vähämaa
University of Vaasa and University of Vaasa
Downloads 339 (166,413)
Citation 5

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Asset pricing, value effect, momentum effect, volatility spillovers, volatility spillover index

20.

Bank Liquidity Creation and Systemic Risk

Journal of Banking and Finance, Vol. 123, No. 106031, 2021
Number of pages: 58 Posted: 15 Apr 2020 Last Revised: 06 Sep 2022
Denis Davydov, Sami Vähämaa and Sara Yasar
Hanken School of Economics, University of Vaasa and University of Vaasa - Department of Accounting and Finance
Downloads 336 (168,028)
Citation 16

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bank liquidity creation, systemic risk, systemic linkage, tail risk

21.

Cross-Dynamics of Volatility Term Structures Implied by Foreign Exchange Options

ECB Working Paper No. 530
Number of pages: 48 Posted: 19 Oct 2005
Elizaveta Krylova, Jussi Nikkinen and Sami Vähämaa
European Central Bank (ECB), University of Vaasa - Department of Accounting and Finance and University of Vaasa
Downloads 305 (186,091)

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implied volatility, volatility term structure, foreign exchange options

22.

Climate Change Denial and Corporate Environmental Responsibility

Journal of Business Ethics, Forthcoming
Number of pages: 63 Posted: 25 Apr 2023 Last Revised: 19 Jan 2024
Mansoor Afzali, Gonul Colak and Sami Vähämaa
Hanken School of Economics, University of Sussex and University of Vaasa
Downloads 294 (194,198)
Citation 1

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Climate change, climate change denial, environmental responsibility, corporate social responsibility, sustainability

23.

Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?

Journal of Business Ethics, 148 (3), 489-510.
Number of pages: 56 Posted: 21 Sep 2014 Last Revised: 26 Jun 2020
University of Deusto - Deusto Business School, Universidad Pablo de Olavide - Department of Financial Economics & Accounting, Hanken School of Economics and University of Vaasa
Downloads 294 (193,510)
Citation 1

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Ethical Reputation, Board of Directors, Board Characteristics, Board Monitoring, Corporate Governance, Financial Institutions

24.

Measuring Systemic Risk: A Comparison of Alternative Market-Based Approaches

Finance Research Letters, Vol. 21, pp. 40-46, 2017
Number of pages: 15 Posted: 27 Nov 2015 Last Revised: 27 Mar 2020
, University of Edinburgh, Clarmont Graduate University and University of Vaasa
Downloads 253 (225,212)
Citation 12

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systemic risk, marginal expected shortfall, codependence risk, delta conditional value at risk, lower tail dependence, bank risk-taking, financial crisis

25.

Religiosity and Corporate Social Responsibility: A Study of Firm-Level Adherence to Christian Values in the United States

Corporate Social Responsibility and Environmental Management, forthcoming
Number of pages: 51 Posted: 10 Sep 2021 Last Revised: 21 Jul 2023
Nebojsa Dimic, Veda Fatmy and Sami Vähämaa
University of Vaasa, University of Vaasa and University of Vaasa
Downloads 236 (241,123)

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religiosity, religious values, corporate social responsibility

26.

Co-Opted Directors and Corporate Social Responsibility

Number of pages: 48 Posted: 29 Apr 2022 Last Revised: 05 Oct 2023
Haroon Afzali, Hanna Silvola and Sami Vähämaa
Hanken School of Economics, Aalto University School of Business and University of Vaasa
Downloads 224 (253,417)
Citation 1

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CSR, board co-option, co-opted directors, environmental performance, social performance

27.

Debt Source Choices and Stock Market Performance of Russian Firms During the Financial Crisis

Emerging Markets Review, Vol. 15, No. 1, pp. 148-159, 2013
Number of pages: 22 Posted: 17 Aug 2012 Last Revised: 01 Nov 2013
Denis Davydov and Sami Vähämaa
Hanken School of Economics and University of Vaasa
Downloads 180 (309,253)

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Debt sources, Bank dependence

28.

Value versus Growth in IPOs: New Evidence from Finland

Research in International Business and Finance, Vol. 31, No. 1, pp. 17-31.
Number of pages: 37 Posted: 06 May 2013 Last Revised: 27 Mar 2014
Teemu Hahl, Sami Vähämaa and Janne Jaakko Äijö
SEB Group, University of Vaasa and University of Vaasa, Department of Accounting and Finance
Downloads 169 (326,692)

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initial public offerings, underpricing, long-run performance, value, growth

29.

Female Leadership and Bank Risk-Taking: Evidence from the Effects of Real Estate Shocks on Bank Lending Performance and Default Risk

Journal of Business Research, Vol. 117, pp. 897-909, 2020
Number of pages: 49 Posted: 02 Nov 2018 Last Revised: 29 Dec 2020
Ajay A. Palvia, Emilia Vähämaa and Sami Vähämaa
Government of the United States of America - Federal Deposit Insurance Corporation (FDIC), Hanken School of Economics and University of Vaasa
Downloads 149 (363,225)

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Female CEOs, Chairwomen, Lending Performance, Loan Losses, Default Risk, Bank Failures, Real Estate Shocks

30.

Skewness and Kurtosis Adjusted Black-Scholes Model: A Note on Hedging Performance

Finance Letters, Vol. 1, No. 5, pp. 6–12, 2003
Number of pages: 14 Posted: 03 Mar 2021
Sami Vähämaa
University of Vaasa
Downloads 140 (381,747)

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option hedging, delta hedging, skewness, kurtosis

31.

Managerial Risk-Taking Incentives and the Systemic Risk of Financial Institutions

Review of Quantitative Finance and Accounting, Vol. 53, No. 4, pp. 1229-1258, 2019, 30th Australasian Finance and Banking Conference 2017
Number of pages: 55 Posted: 17 Aug 2017 Last Revised: 27 Mar 2020
Jamshed Iqbal and Sami Vähämaa
University of Jyväskylä and University of Vaasa
Downloads 121 (426,917)
Citation 7

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executive compensation, delta, vega, risk-taking incentives, systemic risk, bank risk-taking, financial crisis

32.

The Impact of Formal and Informal Institutions on Stock Market Reactions to Divestment Announcements: A Meta-Analysis

Number of pages: 53 Posted: 09 Oct 2022 Last Revised: 28 Mar 2023
Pratik Arte and Sami Vähämaa
Northumbria University and University of Vaasa
Downloads 115 (443,513)
Citation 1

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Divestments, stock market reactions, regulatory framework, long-term orientation, corruption

Bank Corporate Governance and Real Estate Lending During the Financial Crisis

Number of pages: 32 Posted: 15 Jan 2014 Last Revised: 16 Jan 2014
Emilia Vähämaa, Stanley D. Smith and Sami Vähämaa
Hanken School of Economics, University of Central Florida and University of Vaasa
Downloads 107 (470,498)
Citation 5

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corporate governance, lending, loan loss, lending performance

Bank Corporate Governance and Real Estate Lending during the Financial Crisis

Journal of Real Estate Research, Vol. 35, No. 3, pp. 313-343, 2013
Posted: 17 Aug 2012 Last Revised: 01 Nov 2013
Emilia Vähämaa, Stanley D. Smith and Sami Vähämaa
Hanken School of Economics, University of Central Florida and University of Vaasa

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G01, G21, G30, R30

34.

Executive Age and Bank Risk-Taking

Number of pages: 43 Posted: 25 May 2023 Last Revised: 29 Jun 2023
Shaker Ahmed, Jukka Sihvonen and Sami Vähämaa
University of Vaasa, Aalto University and University of Vaasa
Downloads 93 (517,591)
Citation 1

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Bank risk, risk-taking, executive age, CEOs, CFOs, bank executives

35.

The 'Dogs of the Dow' Strategy Revisited: Finnish Evidence

European Journal of Finance, Vol. 17, Issue 5-6, pp. 451-469, 2011
Number of pages: 37 Posted: 16 Jan 2011 Last Revised: 08 Nov 2022
Eemeli Rinne and Sami Vähämaa
ICECAPITAL Securities Ltd and University of Vaasa
Downloads 59 (663,073)
Citation 1

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Dogs of the Dow strategy, investment strategy, portfolio management

36.

Poor Performance and CEO Turnover in Community Banks: The Role of Gender in Managerial Successions

FDIC Center for Financial Research Paper No. 2023-02
Number of pages: 74 Posted: 25 Oct 2023
Office of the Comptroller of the Currency (OCC), Government of the United States of America - Federal Deposit Insurance Corporation (FDIC), Hanken School of Economics and University of Vaasa
Downloads 52 (702,993)

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banks, community banks, CEO turnovers, CEO gender, female CEOs

37.

Trends in Executive Compensation across Bank Types

Responsible Finance and Digitalization: Implications and Developments, pp. 24–45, 2022
Number of pages: 33 Posted: 22 Sep 2022 Last Revised: 09 May 2024
Shaker Ahmed, Denis Davydov and Sami Vähämaa
University of Vaasa, Hanken School of Economics and University of Vaasa
Downloads 7 (1,086,315)

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38.

Female Auditors and Accruals Quality

Accounting Horizons, Vol. 27, No. 2, pp. 205–228, 2013
Posted: 16 May 2012 Last Revised: 01 Nov 2013
Kim Ittonen, Emilia Vähämaa and Sami Vähämaa
Hanken School of Economics - Department of Accounting, Hanken School of Economics and University of Vaasa

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auditor gender, female auditors, gender differences, discretionary accruals, abnormal accruals, accruals quality, earnings management

39.

Cross-Dynamics of Exchange Rate Expectations: A Wavelet Analysis

International Journal of Finance & Economics, Vol. 16, No. 3, pp. 205-217, 2011
Posted: 16 Jan 2011 Last Revised: 08 Dec 2020
University of Vaasa - Department of Accounting and Finance, University of Vaasa, Department of Mathematics and Statistics, University of Vaasa and University of Vaasa

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exchange rate expectations, wavelet cross-correlations, currency options

40.

Central Bank Interventions and Implied Exchange Rate Correlations

Journal of Empirical Finance, Vol. 16, No. 5, 2009
Posted: 16 Jan 2011
Jussi Nikkinen and Sami Vähämaa
University of Vaasa - Department of Accounting and Finance and University of Vaasa

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implied correlation, interventions, exchange rates, currency options

41.

Production Functions and Productivity of Family Firms: Evidence from the S&P 500

Quarterly Review of Economics and Finance, Vol. 49, No. 2, 2009
Posted: 16 Jan 2011
Minna Martikainen, Jussi Nikkinen and Sami Vähämaa
University of Vaasa, University of Vaasa - Department of Accounting and Finance and University of Vaasa

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founding-family ownership, Cobb-Douglas production function, productivity, efficiency

42.

Why Does the Correlation between Stock and Bond Returns Vary Over Time?

Applied Financial Economics, Vol. 18, No. 2, 2008
Posted: 16 Jan 2011
Magnus Andersson, Elizaveta Krylova and Sami Vähämaa
European Central Bank (ECB), European Central Bank (ECB) and University of Vaasa

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stock-bond return correlation, dynamic conditional correlation, macroeconomic expectations, implied volatility

43.

Female Executives and Earnings Management

Managerial Finance, Vol. 36, No. 7, pp. 629-645, 2010
Posted: 16 Jan 2011
Emilia Vähämaa and Sami Vähämaa
Hanken School of Economics and University of Vaasa

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Earnings management, Discretionary accruals, Female executives, Female CEOs, Female CFOs