We test the value relevance of financial statements in Norway over the 40 years before IFRS were introduced. An improved association between financial reporting and value creation enhances decision making and control. We find that the time trend of overall value relevance has increased...

The cost of equity and debt have been documented to be affected by proxy risk factors beyond the market factor captured by the CAMP. For example, adding a size factor to the cost of equity raises the WACC, even when the equity weight is reduced. Incorporating a firm-specific credit risk premium...

Purpose – The purpose of this paper is to examine how the mandatory shift from Norwegian Generally Accepted Accounting Principles (NGAAP) to International Financial Reporting Standards (IFRS) in Norway affected the valuation weights of earnings and book values, with the aim of gaining insights...

This study analyzes Scandinavian racetrack betting markets. We discuss market efficiency and investor behavior in light of the fact that investors earn negative returns on average. Show bets on favorites in Norway yield a small positive return, while all the other betting markets are weak form...