We argue that Boards of Directors of Danish companieshave been socially constructed as an importantdecision making body in the companies. Since 1974,employees have elected members to the Board ofDirectors. Today they can elect one third of the Boardmembers. In spite of this new composition of...

This paper investigates the real-time effects of foreign exchange intervention using official intraday intervention data provided by the Danish central bank. Denmark is currently pursuing an active intervention policy under the provisions of the Exchange Rate Mechanism (ERM II) and intervenes on...

This paper analyzes the impact from macroeconomic news announcements on risk premia on bond yields using high-frequency data. A new method is proposed for the identification of the fundamental part using risk adjusted money market futures. Consequently, we are able to identify the behaviour of...