• British IPO directors, 1891-1911 

      Fjesme, Sturla Lyngnes; Galpin, Neal; Moore, Lyndon (Business History;, Journal article; Peer reviewed, 2019-05-24)
      Company directors in Victorian Britain have a somewhat dubious reputation. There are claims that directors had little business experience with the directorships obtained mainly via social connections. However, a little ...
    • Foreign Market Portfolio Concentration and Performance 

      Fjesme, Sturla Lyngnes (Financial Management;Volume 49, Issue 1, Spring 2020, Journal article; Peer reviewed, 2019-02-06)
      Using security holdings of 49,857 foreign investors on the Oslo Stock Exchange (OSE), I test whether concentrated investment strategies in international markets result in excess risk‐adjusted returns. I find that investors ...
    • Hvem er smartest på Oslo Børs? 

      Fjesme, Sturla Lyngnes (Praktisk økonomi og finans;Årg. 35, 2/2019, Journal article; Peer reviewed, 2019-06-03)
      I den senere tid er det fremsatt mange påstander i norske medier om at investorer burde plassere pengene sine i velldiversifiserte indeksfond da det ikke er mulig å slå markedsporteføljen allikevel (passive investeringer); ...
    • Informed trading by non-financial companies 

      Fjesme, Sturla Lyngnes (Applied Economics Letters;Volume 27, 2020 - Issue 3, Journal article; Peer reviewed, 2019-05-12)
      It is well documented in the finance literature how share prices go up when companies increase dividend payouts. The long-term trend, however, is that more companies now retain excess cash rather than paying dividends. In ...
    • Retail investor experience, asset learning, and portfolio risk-adjusted returns 

      Fjesme, Sturla Lyngnes (Finance Research Letters;, Journal article; Peer reviewed, 2019-10-13)
      It is well documented in the finance literature that retail investors (households) underperform on a risk-adjusted basis when trading in securities markets. More recently, however, there is growing evidence that some retail ...
    • The world cup in football and the US IPO market 

      Fjesme, Sturla Lyngnes; Lv, Jin Roc; Shekhar, Chander (Journal of Corporate Finance;, Peer reviewed; Journal article, 2023)
      We document that US IPOs that take place during a world cup in football (soccer), compared to IPOs before or after, exhibit 9% lower underpricing and 6% lower price adjustment. IPOs during world cups receive less attention ...