Charlotte Østergaard
Professor
Om
My work explores how internal organizational choices and governance practices influence firm outcomes
I am educated at Brown University (M.A., Ph.D. in Economics) and the University of Copenhagen (B.A. in Economics).
I joined CBS in 2022. Previously, I have been employed at the Financial Markets Group at the London School of Economics and BI Norwegian Business School, where I was director of the Centre for Corporate Governance Research from 2019-2024. I have held visiting positions at the Central Bank of Norway (Norges Bank) and the University of Salerno.
I have studied the real effects of bank shocks and bank market integration on outcome variables such as bank lending to small businesses, firms' investment and cash management, as well as inter-regional risk sharing. I have also done work on shareholder activism, on how social capital sustain the viability of the savings bank organizational form, and on corporate governance in early Norwegian corporations at the turn of the 20th century. Currently, I'm working with administrative data on modern-day family- and owner-managed firms. My work has been published in the Journal of Finance, the Review of Financial Studies, the Review of Finance, and the Journal of Political Economy, among others.
Publications
See all publications28. maj 2025
Underperformance in Family Successions
The Role of Outside Work Experience
Go to publication28. maj 2025
Underperformance in Family Successions
The Role of Outside Work Experience
Charlotte Østergaard, Professor
Irena Kustec
marts 2025
Underperformance in Family Successions
The Role of Outside Work Experience
Go to publicationSelected publications
- Why do Boards Exist? Governance Design in the Absence of Corporate Law (with Mike Burkart and Salvatore Miglietta), 2023, Review of Financial Studies.
- Social Capital and the Viability of Nonprofit Firms: Evidence from Norwegian Savings Banks (with Ibolya Schindele and Bent Vale), 2016, Review of Finance.
- Liquidity and Shareholder Activism (with Øyvind Norli and Ibolya Schindele), 2015, Review of Financial Studies.
- U.S. Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income (with Yuliya Demyanyk and Bent E. Sørensen), 2008, Journal of Finance.
- Permanent Income, Consumption and Aggregate Constraints: Evidence from the U.S. States (with Bent E. Sørensen and Oved Yosha), 2002, Journal of Political Economy.
Affilations
- The European Corporate Governance Institute (ECGI)
- The HKU Jockey Club Enterprise Sustainability Global Research Institute
- The Center for Corporate Governance Research (CCGR) at BI Norwegian Business School
- The Center for Owner-Managed Firms (CEV) at CBS
- The Danish Finance Institute (DFI).
- The Nordic Initiative for Corporate Economics (NICE).