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The Impact of Macroeconomic Variables on Corporate Performance - What Shareholders Ought to Know?
Oxelheim, Lars - 2002
. This paper discusses four different interpretational levels of this standard and what these levels mean in terms of …
Persistent link: https://www.econbiz.de/10010334671
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On the Treatment of Finance-Specific Factors Within the OLI Paradigm
Oxelheim, Lars; Randøy, Trond; Stonehill, Arthur - 2001
This article argues that the body of foreign direct investment (FDI) literature in general and the ownership, location, and internalization (OLI) paradigm in particular would be enriched if finance-specific factors are explicitly incorporated as drivers of FDI. We suggest that financial...
Persistent link: https://www.econbiz.de/10010335020
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Exposure-based Cash-Flow-at-Risk under Macroeconomic Uncertainty
Andrén, Niclas; Jankensgård, Håkan; Oxelheim, Lars - 2005
In this paper we derive an exposure-based measure of Cash-Flow-at-Risk (CFaR). Existing approaches to calculating CFaR either only focus on cash flow conditional on market changes or neglect market-risk exposures entirely. We argue here that an essential first step in a risk-management program...
Persistent link: https://www.econbiz.de/10010320137
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The CFO’s Information Challenge in Managing Macroeconomic Risk
Oxelheim, Lars; Wihlborg, Clas; Thorsheim, Marcus - 2010
In this chapter we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...
Persistent link: https://www.econbiz.de/10010320231
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Executive Compensation and Macroeconomic Fluctuations
Oxelheim, Lars; Wihlborg, Clas; Zhang, Jianhoa - 2008
Macroeconomic fluctuations affect corporations' performance through demand and cost conditions. Incentive effects of performance-based compensation schemes for management may be weakened or biased by macroeconomic influences if management is unable to forecast macroeconomic fluctuations or...
Persistent link: https://www.econbiz.de/10010320300
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How to Avoid Compensating CEO for Luck: The Case of Microeconomic Fluctuations
Oxelheim, Lars; Wihlborg, Clas; Zhang, Jianhua - 2010
Incentive effects of performance-based compensation schemes for management may be weakened or biased by macroeconomic influences on remuneration. These influences can be seen as reflecting luck from the CEO's perspective. In this chapter we present a model for how to avoid compensating CEO for...
Persistent link: https://www.econbiz.de/10010320333
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Globalization, Transparency and Economic Growth: The Vulnerability of Chinese Firms to Macroeconomic Shocks
Oxelheim, Lars - 2008
The process of globalization encompasses economic and financial integration. Abolition of capital controls and dismantling of barriers of different kinds are important ingredients of the process that will entirely change the exposure of previously sheltered companies to shocks on the global...
Persistent link: https://www.econbiz.de/10010320377
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Exposure-Based Cash-Flow-at-Risk for Value-Creating Risk Management under Macroeconomic Uncertainty
Andrén, Niclas; Jankensgård, Håkan; Oxelheim, Lars - 2010
A strategically minded CFO will realize that strategic corporate risk management is about finding the right balance between risk prevention and proactive value generation. Efficient risk and performance management requires adequate assessment of risk and risk exposures on the one hand and...
Persistent link: https://www.econbiz.de/10010320401
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Optimal vs satisfactory transparency: The impact of global macroeconomic fluctuations on corporate competitiveness
Oxelheim, Lars - 2018
information and a narrowing of the gap. Shareholders in the Anglo-Saxon corporate governance system are provided with more … relevant information than those in other corporate governance systems. The paper adds to the literature on the role of … institutions in international corporate governance, with the particular focus on information asymmetries in an international …
Persistent link: https://www.econbiz.de/10012145484
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Globalization, transparency and economic growth : the vulnerability of Chinese firms to macroeconomic shocks
Oxelheim, Lars (contributor) - 2008
The process of globalization encompasses economic and financial integration. The abolition of capital controls and the dismantling of barriers of different kinds will expose previously sheltered companies to shocks on the global economic arena. Policy-makers in already globalized countries have...
Persistent link: https://www.econbiz.de/10003757004