Karl Håkan Jankensgård Professor

Håkan is course director and instructor on the course Introduction to Financial Derivatives on the Bachelor of Finance programme.

Håkan also teaches the corporate finance module on Advanced Financial Theory on the Master of Finance programme.

Additionally, Håkan teaches Risk and resilience on the Executive MBA-programme as well as the corporate finance chapter on the PhD course Business Classics.

Håkan's main research areas are corporate risk management, firms' capital structure/financing choices, and investor behaviour.

Peer reviewed articles

Jankensgård, H., J. Forssbaeck and R. Moursli (2026). “Control Overhang: Equity Provision in Financially Distressed Firms” Financial Management, forthcoming

Forssbaeck, J., H. Jankensgård, and R. Moursli (2025). “Staying Alive: Capital Structure Complexity, Financial Distress, and Bankruptcy.” Journal of Corporate Finance (2025)

Jankensgård, H., N. Marinelli and R. Schiozer (2025). “Time to Get Mature: Collateral, Flexibility and the Hedging Horizon Decision.” Journal of Commodity Markets 37

Christie, N., Jankensgård, H., and Marinelli, N. (2024). “The Black Swan problem: The role of capital, liquidity and operating flexibility.” International Review of Financial Analysis 91

Dudley E., N. Andrén, and H. Jankensgård (2022), “How Do Firms Hedge in Financial Distress?” Journal of Futures Markets 22

Bajo, E., H. Jankensgård, and N. Marinelli (2022), ”Me, Myself, and I: CEO Narcissism and Selective Hedging.” European Financial Management 28

Jankensgård, H. and R. Moursli (2021), ”Derivative Cash Flows and Corporate Investment.” Journal of Banking and Finance 119

Andrén, N. and H. Jankensgård (2020), “Disappearing Investment-Cash Flow sensitivities: Earnings Have Not Become a Worse Proxy for Cash Flow.” Journal of Business, Finance & Accounting 47 (5/6)

Jankensgård, H. (2019), “Does Managerial Power Increase Selective Hedging? Evidence from the Oil and Gas Industry.” Journal of Risk and Financial Management 12 (2).

Jankensgård, H. (2019), ”A Theory of Enterprise Risk Management”, Corporate Governance: The International Journal of Business in Society, 19 (3)

Jankensgård, H., and A. Vilhelmsson (2018), “The Shareholder-Base Hypothesis of Stock Return Volatility: Empirical Evidence”. Financial Management 47 (1).

Jankensgård, H. (2017),” Between a Rock and a Hard Place: New Evidence on the Relationship between Ownership and Voluntary Disclosure.” International Review of Financial Analysis 56.

Croci, E, A del Guidice, and H. Jankensgård (2017), ”CEO Age, Risk Incentives, and Hedging Strategy.” Financial Management 46.

Alviniussen A, H. Jankensgård, and L Oxelheim (2016), “Why FX Risk Management Is Broken – And What Boards of Directors Need to Know to Fix It”, Journal of Applied Corporate Finance 28.

Jankensgård, H. (2015), ”The Relationship between Voluntary Disclosure, External Financing, and Financial Status.” Journal of Business, Finance & Accounting 42.

Andrén, N and H. Jankensgård (2015), ”A Wall of Cash: The Investment-Cash Flow Sensitivity When Capital Becomes Abundant.” Journal of Banking and Finance 50.

Jankensgård, H. (2015), ”Does Centralization of FX Derivative Usage Impact Firm Value?” European Financial Management 21.

Jankensgård, H. (2014), ”A Tale of Beauties and Beasts. Testing the Optimal Disclosure Hypothesis”, Multinational Finance Journal 8.

Jankensgård, H., K Hoffman, and D Rahmat (2014), ”Risk Disclosure, Derivative Usage, and Firm Value”, Journal of Accounting and Finance 14.

Jankensgård, H. (2010), “Measuring Corporate Liquidity Risk”, Journal of Applied Corporate Finance 22.

Alviniussen, A and H. Jankensgård (2009), ”Enterprise Risk Budgeting – Bringing Risk Management into the Financial Planning Process” , Journal of Applied Finance 19.

Andrén, N, H. Jankensgård, and L Oxelheim (2005), ”Exposure-based Cash-Flow-at-Risk: An Alternative to Value-at-Risk for Industrial Companies”, Journal of Applied Corporate Finance 17.

Books and book chapters

Jankensgård, H. (2022), “The Black Swan Problem: Risk Management Strategies for a World of Wild Uncertainty”, Wiley & Sons

Jankensgård, H. and P. Kapstad (2021). ”Empowered Enterprise Risk Management: Theory and Practice.” Wiley & Sons

Alviniussen, A., H. Jankensgård, and L. Oxelheim (2020). ”Corporate Foreign Exchange Risk Management.” Wiley & Sons

Jankensgård, H. (2026). “Kapitalförsörjning för Ökad Konkurrenskraft: Normer under Uppluckring?” In Europaperspektiv, L. Oxelheim (Eds.): Publishing.

Alviniussen, A and H. Jankensgård (2014). ”Value and Risk: Enterprise Risk Management at Statoil”. In Implementing Enterprise Risk Management: Cases and Best Practice, B Simkins, T Fraser, and K Narvaez (Eds.): John Wiley & Sons.

Andrén, N, H. Jankensgård, and L Oxelheim (2011), “Exposure-Based Cash-Flow-at-Risk for Value- Creating Risk Management under Macroeconomic Uncertainty”. In The Strategic CFO: Creating Value in a Dynamic Market Environment, U Hommel, M Fabich, E Schellenberg, and L Firnkorn (Eds.): Springer Verlag.