What is it about?
This is a paper in financial economic history. In this study, I collect information on all capital actions (e.g., splits, reverse splits, rights issues, bonus issues) done by publicly listed firms on the Helsinki Stock Exchange (HSE) from 1912 to 1981. The information is used to analyze the role of the HSE as a source of new equity capital for Finnish firms.
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Why is it important?
The stock market plays a pivotal role in providing capital for firms to grow and expand, thereby providing economic benefits to society at large. The prevailing view is that the stock market has not played a major role in providing capital to listed firms in Finland. The results show that this is not necessarily the case.
Perspectives
This paper continues "my quest" on studying the history of Finnish financial markets. It was originally an off-shoot from another paper which ultimately grow and began to stand on its own feet.
Professor Mika Vaihekoski
Turun Yliopisto
Read the Original
This page is a summary of: Equity issues and other capital actions by publicly listed companies in Finland, 1912–1981, Scandinavian Economic History Review, May 2026, Taylor & Francis,
DOI: 10.1080/03585522.2026.2647867.
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