Haltia, Olli; Leppämäki, Mikko - In: Finnish Economic Papers 13 (2000) 1, pp. 19-27
This paper considers the apparent contradiction between the results of Artto (1997), who claims that shareholders in the paper industry have gained reasonable returns, and Pohjola (1996), who argues that a large shareholder value has been lost (the Artto–Pohjola Paradox). We show under fairly...