Finnish students' success on all three content domains of each of the four cycles of the
OECD's Programme for International Student Assessment (PISA) has created much …

Households hold undiversified stock portfolios of firms headquartered near their city of
residence. Leading explanations assign a causal role for proximity. The literature neglects …

Purpose In the European Union, the Undertakings for Collective Investment in Transferable
Securities Directive (UCITS IV) requires fund management companies to provide a Key …

We review the evolution of Finnish ownership structures and corporate governance systems,
focusing on large Finnish firms. We reflect Finnish patterns against the academic evidence …

This paper studies patterns in ownership of Finnish stocks and bonds in 2015, and changes
in shareownership patterns between 1995 and 2015. Our key findings are as follows.(1) In …

We show that investors tend to hold the same securities as their parents. This
intergenerational correlation is stronger for mothers and family members who are more likely …

This study investigates the modes of financial behavior of immigrants, comparing them with
native-born investors. The study developed a theoretical framework for investigating the …

We find that investors tend to hold the same securities as their parents. Instrumental
variables that exploit social networks and a natural experiment based on mergers allow us …

In this report, we study the ownership structure of large Finnish firms. We make an overview
of the evolution of corporate ownership in Finland from the 1970s to today, and contrast the …

We study the connections between firm risk and the CEO's personal wealth characteristics,
using a unique dataset on CEO wealth and its components. Consistent with decreasing …