Carsten Bienz

Carsten Bienz

Associate Professor of Finance, NHH

Formuesskatten og børsnoteringer (Wealth tax and IPOs)

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Published:

Wealth Tax and Initial Public Offerings (IPOS)

Aksel Mjøs and I explain how the wealth tax in Norway makes it difficult to list more firms in Norway

We argue that the way the tax works makes it unattractice to list firms and that comes at a cost to society in form of reduced risk sharing for owners and prevents the public from investing and sharing in the success of such firms.

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A new Norwegian Word

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How the Norwegian word for “stablecoins” was born

Norway has a tradition of translating foreign loan words into Norwegian and at NHH’s finance department we are often asked to contribute to come up with terms for new financial terms. In this case my I contributed to this by suggested that stable coins should be called “tilknyttede eiendeler” (a literal translation would be a “linked asset”) in Norwegian to reflect the fact that stable coins aim to peg to another asset but that the peg might not be perfect or always work.

Why your PE investment might not make you rich

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Published:

PE investments might not make you rich

Many believe that the benefits of investing should acrue to the investors and not the fund managers. I explain why that believe may be wrong in markets where fund managers have market power.