[1] Brandeis Univ, Int Business Sch, Waltham, MA USA
[2] Stockholm Sch Econ, Dept Finance, Drottninggatan 98, S-11160 Stockholm, Sweden
[3] Swedish House Finance SHoF, Drottninggatan 98, S-11160 Stockholm, Sweden
[4] Univ Calif San Diego, Rady Sch Management, La Jolla, CA USA
[5] Univ Calif San Diego, Dept Econ, La Jolla, CA USA