International evidence on the accrual anomaly is sparse and conflicting. Testing for accrual mispricing in 28 equity markets, we provide statistical evidence for anomalous returns in some countries. However, we question whether this result might have occurred by chance alone and that it might...

We investigate how deftned beneftt pension schemes of FTSE ftrms are valued by the equity market, focusing on how future liabilities are discounted (since UK data allows us to estimate the duration of pension liabilities fairly accurately). We ftnd that equity market valuation is consistent with...

Entities like centralized cryptocurrency exchanges fall under the business category of virtual asset service providers (VASPs). As any other enterprise, they can become insolvent. VASPs enable the exchange, custody, and transfer of cryptoassets organized in wallets across distributed ledger...

This paper investigates the impact of globalization, in the sense of increasing international trade, on the demand for skills in Danish manufacturing companies. The study is based on a unique data set that enables us to develop rich measures of international outsourcing and import penetration....

The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is argued that marketing and product innovation are complementary inputs and that innovation activities are skill-intensive. It is found that product and...

This paper investigates the importance of the educational mix of employees at the rm level for the probability of rms being involved in innovation activities. We distinguish between four types of innovation: product, process, organisational, and marketing innovation. Moreover, we consider three...

In this paper, we investigate the sorting of workers in firms to understand gender gaps in labor market outcomes. Using Danish employer-employee matched data, we find strong evidence of glass ceilings in certain firms, especially after motherhood, preventing women from climbing the career ladder...

The offshoring of production by multinational firms has expanded dramatically in recent decades, increasing the potential for economic growth and technological transfers. What determines the location of such offshore production? How do the policies and characteristics of countries affect these...

We study a Danish reform in 2002 that lowered the ex ante probability of refugees receiving permanent residency by prolonging the time period before they were eligible to apply for permanent residency. Assignment to the new rules was completely determined by the date of the asylum application...

We study how the skill distribution in an economy responds to changes in wage gaps induced by trade integration. Using administrative data for Denmark (1993-2012), we conduct a two-step empirical analysis. In the first step, we predict changes in wage gaps that are triggered by exogenous trade...