This study investigates the impact that ownership structure and board composition have on performance in a sample of Finnish SMEs. Our study is one of few that shed light on how corporate governance and ownership structures affect performance of small firms. Our results suggest that the...

The aim of this paper is to investigate whether national culture explains previously observed cross-country variation in trade credit. Previous work suggests that national culture may close the gap between behavioral finance and “Law and Finance” in corporate finance. National culture...

Previous studies have suggested that the use of trade credit varies by country. This paper focuses on whether the rule of law or capital market development can explain observed differences in working capital levels in small and medium size enterprises (SMEs) from 13 EU countries. Our findings...

Tax aggressiveness is defined as downward management of taxable income through tax planning activities which can be legal or illegal or may lie in between. Given that taxes are an important cost for each firm, tax aggressiveness may be desired by its shareholders. In this paper, we investigate...

This paper focuses on the effect of managerial ownership on cash holdings in a sample of private family firms. Our results suggest that managerial ownership has a significant impact on cash holdings. Cash holdings are largest in the firms with no managerial ownership and lowest in the firms in...

This study investigates the role that board structure has on the demand for audit quality in connection with family ownership in a sample of private firms. In addition to this, we also shed light on whether ownership structure and board structure are substitute mechanisms in resolving agency...

This study investigates the determinants of start-up survival in a sample of Finnish firms. Our database allows us to investigate how qualitative information based on the personal history and characteristics of the owner, firm specific characteristics and credit analysts' subjective evaluation...

The aim of this study is to investigate the effect that firm level working capital strategy on accounts receivable had on working capital related financial difficulties during the Covid-19 pandemic in a sample of Finnish SMEs. We are able to identify the firms with Covid -19 induced financial...

Using data from Finnish private firms, we examine the association between corporate governance and tax aggression in a high tax alignment environment. We find evidence of a non-linear relationship between CEO ownership and tax aggressiveness. Our results indicate that organisations with low...