Stockholm School of Economics

About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Cost effectiveness. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.

Financial integration and entrepreneurial activity: Evidence from foreign bank entry in emerging markets

Abstract: While the positive growth effects of financial integration are extensively documented, little is known of its impact on small and young firms. This paper aims to fill this void relying on a panel of 60,000 firm-year observations on listed and unlisted companies in Eastern European economies to assess the differential impact of foreign bank lending on firm growth and financing. Foreign lending stimulates growth in firm sales, assets, and use of financial debt even though the effect is dampened for small firms. More strikingly, young firms benefit most from foreign bank presence, while businesses connected to domestic banks or to the government suffer. Overall, our findings suggest that foreign banks can help to mitigate connected-lending problems and to improve capital allocation.

Limits of Knowledge and the Limited Importance of Trust

Abstract: Perceived risk and related attitudes have been implicated as major factors in many of the difficult policy problems that face modern society (nuclear power, genetically modified food, etc). Experts often argue that no or very small risks are involved; people are still worried. Why? The standard answer is lack of trust. Data on trust and risk perception, however, point to only a weak relationship between the two (r approximately 0.3). It is suggested here that the reason for the surprisingly minor importance of trust is that people believe that there are clear limits to how much science and experts know. Results are presented from studies of risk perception of the public, experts, and politicians. Politicians and members of the public believe that there are many unknown effects of technology and such beliefs were strongly related to their perceived risk. Experts on nuclear waste, on the other hand, seemed to believe that little is unknown in their field of expertise. Regression analyses of risk perception showed the unknown-effects factor to be a more important explanatory factor than trust for the public and politicians.

Excess mortality after hospitalisation for vertebral fracture

Abstract: An excess mortality is well described after vertebral fracture. Deaths are in part related to co-morbidity, but could also be due to the fracture event itself, either directly or indirectly. The aim of this study was to examine the quantum and pattern of mortality following vertebral fracture. We identified 16,051 men and women aged 50 years or more with a vertebral fracture that required hospitalization in 28.8 million person years from the patient register of Sweden. Mortality after vertebral fracture was examined using Poisson models applied to fracture patients and compared to that of the general population. At all ages, the risk of death was markedly increased immediately after the event. After a short period of declining risk, the risk increased with age at a rate that was higher than that of the general population and comparable to that 1 year after hip fracture. The latter function was assumed to be due to deaths related to co-morbidity and the residuum assumed to be due to the vertebral fracture. Causally related deaths comprised 28% of all deaths associated with vertebral fracture (depending on age). We conclude that a minority of deaths following hospitalization for vertebral fracture are attributable to the fracture itself under the assumptions we used.