Background
Hakansson, Nils Hemming was born on June 2, 1937 in Marby, Sweden. Came to the United States, 1956. Son of Nils and Anna (Nilsson) Hakansson.
Hakansson, Nils Hemming was born on June 2, 1937 in Marby, Sweden. Came to the United States, 1956. Son of Nils and Anna (Nilsson) Hakansson.
Bachelor of Science with honors, University Oregon, 1958. Master of Business Administration, University of California at Los Angeles, 1960. Doctor of Philosophy, University of California at Los Angeles, 1966.
D. of Economics (honorary), Stockholm School of Economics, 1984.
Staff Accountant, CPA, Consultant, Arthur Young & Company, 1960-1963. Assistant Professor, University of California, Los Angeles, Calif., United States of America, 1966-1967. Assistant Professor, Yale University, 1967-1969.
Association Professor, University California Berkeley, 1969-1971. Hoover Fellow, University New South Wales, Sydney, 1975. Visiting Scholar, Bell Laboratories, Murray Hill, 1980-1981.
Visiting Professor, Stockholm School Economics, 1984. Sylvan C. Coleman Professor Finance and Accounting, School Business
Administration, University California Berkeley, United States of America, since 1976. Advisory Board, Midland Corporation Finance J., since 1983, Chase Finance Quarterly, 1981-1983.
Consultant Editor, J Accounting & Economics, 1978-1981, Accounting Review, 1977-1980. Association Editor,/. Accounting & Economics, since 1981.
Journal of Financial Economics., 1973-1981. J. Finance Quantitative Analysis, 1969-1974. Management Science, 1979-1982.
Editorial consultant Accounting Review, 1977-1980. Consultant editor Journal Accounting and Economics, 1978-1981. Contributor articles to professional journals.
Early research efforts were among the first to focus on multi-period portfolio theory, with particular emphasis on optimal allocations to investment and consumption under uncertainty. Dissertation (June 1966, unpublished but widely circulated) originated the modem approach to intertemporal consumption and investment decisions under risk. More recent activities have been concerned with the welfare implications of different financial market structures (i.e., the set of securities available in the market) and the economics of public and private information.
The specific fallout from this work includes: (1) a statement (for the taxless, two-period case) of the conditions under which value conservation occurs in financial markets, and an extension of the theory of firms’ capital structures to arbitrary securities, (2) an extension of Ross’s efficiency analysis of option markets, (3) the concept of ‘supershares’ and a statement of the latter’s efficiency properties (the options and futures on broadly-based stock indexes recently introduced are approximate composites of supershares), (4) a comprehensive theory of dividend policy (with and without taxes), and (5) an analysis of the conflicting incentives that surround financial reporting and other disclosures by firms and their likely effects on productive efficiency.
Served with Royal Swedish Corps Engineers, 1956. Fellow Accounting Researchers International Association. Member American Institute of Certified Public Accountants (honorary member), Finance Economists Roundtable, American Finance Association, Western Finance Association (president 1983-1984), American Accounting Association, Society for Promotion Finance Studies (founding).
Married Joyce Beth Kates, August 28, 1960. Children– Carolyn Ann, Nils Alexander.