Publications

Research Articles

[with Takalo, T.], Consumer awareness and the use of payment media: Evidence from young Finnish consumers, Review of Network Economics, accepted.
[with Pajarinen, M.], Opacity of young businesses: Evidence from rating disagreements, Journal of Banking and Finance, 2008, Vol. 32 (7), pp. 1234-1241.
[with Maliranta, M.], When do employees leave their job for entrepreneurship?, Scandinavian Journal of Economics, 2008, Vol. 110 (1), pp. 1-21.
[with Takalo, T.], Investor protection and business creation, International Review of Law and Economics, 2008, Vol. 28, pp. 113-122.
[with Rouvinen, P.], The labour market consequences of self-employment spells: European evidence, Labour Economics, 2008, Vol. 15, pp. 246-271.
[with Ilmakunnas, P.], What distinguishes a serial entrepreneur?, Industrial and Corporate Change, 2007, Vol. 16 (5), pp. 793-821.
[with Ruuskanen, O-P.], Time use of the self-employed, Kyklos, 2007, Vol. 60, No. 1, pp. 87-103.
[with Pajarinen, M.], Is the cost of debt capital higher for younger firms?, Scottish Journal of Political Economy, 2007, Vol. 54, No. 1, pp. 55-71.
[with Ilmakunnas, P.], Entrepreneurial aspirations: Another form of job search?, Small Business Economics, 2007, Vol. 29, Numbers 1-2 / June, pp. 63-80.
[with Väänänen, L.], Where do financial constraints come from? An empirical analysis of adverse selection and moral hazard in capital markets, Small Business Economics, 2006, Vol. 27, No. 4-5, pp. 323-348.
[with Takalo, T.], Corporate law and small business finance: Mandatory v. enabling rules, European Business Organization Law Review, 2005, Vol. 6, Issue 3, pp. 449-466.
[with Toivanen, O.], Do financial constraints hold back innovation and growth? Evidence on the role of public policy, Research Policy, 2005, Vol. 34, Issue 9, pp. 1385-1403.
[with Ali-Yrkkö, J. and Pajarinen, M.], Does patenting increase the probability of being acquired? Evidence from cross-border and domestic acquisitions, Applied Financial Economics, 2005, Vol. 15, pp. 1007–1017.
[with Pajarinen, M.], External finance, firm growth and the benefits of information disclosure: Evidence from Finland, European Journal of Law and Economics, 2005, Vol. 19, pp. 69-93.
[with Pajarinen, M.], Financing of technology-intensive small businesses: Some evidence on the uniqueness of the ICT sector, Information Economics and Policy, 2005, Vol. 17, Issue 1, pp. 115-132. [ The sixth most frequently downloaded paper of the journal during the first quarter of 2005 according to The TOP25 Hottest Articles by ScienceDirect. ]
[with Takalo, T.], Preventing systemic crises through bank transparency, Economic Notes, 2004, Vol. 33, Issue 2, pp. 257-274.
[with Toivanen, O.], Vertical differentiation, asymmetric information and endogenous bank screening, Topics in Theoretical Economics, 2004, Vol. 4., No. 1, Article 5.
[with Toivanen, O.], Monitoring and market power in credit markets, International Journal of Industrial Organization, 2004, Vol. 22, Issue 2, pp. 269-288.
[with Kuosa, I. and Takalo, T.], Law or finance? Evidence from Finland, European Journal of Law and Economics, 2003, Vol. 16, pp. 59-89.
[with Toivanen, O.], Asymmetric information and the market structure of the venture capital industry, Journal of Financial Services Research, 2003, Vol. 23:3, pp. 241-249.
Information production and lending market competition, Journal of Economics and Business, 2003, Vol. 55, pp. 233-253.
Loan market equilibrium with difference of opinion and imperfect competition, Economics Letters, 2003, Vol. 78, pp. 125-129. [ science direct ]
[with Takalo, T.], Enhancing bank transparency: A re-assessment, European Finance Review, 2002, Vol. 6, Issue 3, 429-445.
The time profile of risk in banking crises: Evidence from Scandinavian banking sectors, Applied Financial Economics, 2002, Vol. 12, pp. 613-623.

Chapters in International Books

Finland’s emergence as a global ICT player: Lessons from the Finnish wireless cluster [with L. Paija, P. Rouvinen and P. Ylä-Anttila], In: How Revolutionary Was the Digital Revolution?: National Responses, Market Transitions, and Global Technology (eds. A. Newman and J. Zysman), Stanford University Press, 2006.
How important are exits for venture capital finance: Evidence from Finland, In: Venture Capital, Entrepreneurship and Public Policy (eds. C. Keuschnigg and V. Kanniainen), The MIT Press, 2005, pp. 127-150.

Other Publications in English

[with Maula, M.] What’s ahead for Finland, its venture capital and private equity in particular?, The Finnish Venture Capital Association Year Book 2005, pp 10-12.
[with Rouvinen, P.] What’s ahead for Finland?, The Finnish Venture Capital Association Year Book 2004, pp. 10-13.

[ please see my CV for a complete list of other publications in English ]

Publications in Finnish

[ please go to Suomeksi for a complete list of my publications in Finnish ]