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CURRICULUM VITAE -condensed- Ted Lindblom is Professor and member of the boards of the PhD Research Committee of Business Administration and the Academic Appointments Committee at the School of Business, Economics and Law at the University of Gothenburg. His current research mainly concern corporate finance with particular focus on corporate governance, capital budgeting and financial structure decisions. He has also studied pricing strategies in decreasing cost industries and deregulation reforms in industries like electricity, banking and retailing. In the banking sector he has for more than twenty years been studying the pricing of payments services and market structural changes in mainly retail banking. He has authored and co-authored several articles and books regarding these issues. ADDRESS School of Business, Economics and Law, University of Gothenburg Industrial and Financial Management/Business Administration Box 610 SE 405 30 Visiting address: Vasagatan 1 Home: Kvarnbacken 52, Alingsås Phone: +46 31 7861497 Fax: +46 31 7864492 Mobile: +46 70 5376500 EDUCATION/POSITIONS 1979 Kandidatexamen (B.Sc.) (140 credits) 1985 Ph.D. Business Administration, University of Gothenburg (Effektavgifter-Prissättning inom elsektorn) 1991 Docent (Associate Professor) 1997 tf professor (Acting Professor in Managerial Economics) 1999 tf professor (Acting Professor in Retailing) 2001 Professor (Business administration)

INTERNATIONAL PUBLICATION Recent - past decade What does it Cost to Make a Payment, (Review of Network Economics, Vol. 2, Issue 2 June 2003, pp. 159-174) 1 Are Retailer Banks the Future of Retail Banking?, (Revue bancaire et financière/bank- en Financie-wezen, Larcier, 2003/2004, pp. 222-236) Cost Savings from Electronic Payments in Europe, (Federal Reserve Bank of Philadelphia, Working Paper 03-16) 1 Retail Integration Strategies in the EU: Scandinavian Grocery Retailing (The International Review of Retail, Distribution and Consumer Research, Vol. 14, No. 2, 2004, pp. 171-197) 2 Benefits from Changing Payment Technology in European Banking (Journal of Banking and Finance, Vol. 30, No. 6, 2006, pp 1631-1652) 1 Pricing of Payments Services. A Comparative Analysis of Paper-based Banking and Electronic Banking (The Services Industries Journal, Vol. 27, No. 5/6, 2007, pp. 687-707) 3 Risk Management in Banking - A Review of Principles and Strategies, (In Managing Information Assurance in Financial Services. Eds: Rao H.R., M. Gupta and S. Upadhyaya, IGI Publishing, New York 2007, pp. 26-44 ) 3 (blind review) The Use of Incentive Pay in Divisionalised Firms: A case Study of Two Global Manufacturing companies. (In Markets and Compensation for Executives in Europe. Eds: Oxelheim, L. and C. Wihlborg, Bingley: Emerald Group Publishing, 2008, pp. 183-200) 4 The Effects of Market Deregulation a financial structure analysis. (AIB insights, Vol. 8, No. 1, 2008, pp. 14-20) 5 Evaluating the Performance of Swedish Savings Banks According to Service Efficiency (The International Journal of Operations Research, Vol. 185, No. 3, 2008, pp. 1663-1673) 3 Bank Capital and Loan Pricing: Implications of Basle II (In Frontiers of Banks in a Global Economy. Eds: Molyneux, P. and E. Vallelado, Palgrave Macmillan UK 2008, pp. 78-102) 6 Increasing Goal Congruence in Project Evaluation by Introducing a Strict Market Depreciation Schedule. (International Journal of Production Economics, Vol. 121, Issue 2, 2009, pp. 519-532) 5 Trade Credit and the Cost of Capital (proceedings from the the XLII EWGFM Meeting Stockholm May, 2008) 7 2

Investment Appraisal Techniques and the Adoption of Quantitative Risk Measures Evidence from Swedish 500 Largest Firms, The Sixteenth International Working Seminar on Production Economics, proceedings, March 1-5, 2010. 1 s. 297-308. 4 Duration Analysis An Overview (In New issues in Financial Institutions and Markets I. Eds: Fiordelisi, F., Molyneux, P. and Previati, D., Palgrave Macmillan UK 2011, pp. 171-183) 3 Banks Measurement of Operational Risk and the Effect on Regulatory Capital (In New issues in Financial Institutions Institutions and Markets. Eds: Fiordelisi, F., Molyneux, P. and Previati, D., Palgrave Macmillan UK 2011, pp. 200-212) 8 Capital Structure Choices (International Journal of Banking, Accounting and Finance, Vol. 3, No. 1, 2011, pp. 4-30) 4 Managers Capital Structure Decisions the Pecking Order Puzzle (In Bank Performance, Risk and Firm Financing. Ed. Molyneux, P., Palgrave Macmillan, UK 2011, pp. 273-288) 4 Financial Crisis and Bank Profitability (In Bank Performance, Risk and Firm Financing. Ed. Molyneux, P., Palgrave Macmillan, UK 2011, pp. 83-105) 9 Financial crisis and EU banks' performance (In Crisis, Risk and Stability in Financial Markets. Eds. Fernandez De Guevara Radoselovics, J. and J.M. Pastor, Palgrave Macmillan, UK 2012, pp. 24-48) 8 The Role of Trade Credit and the Cost of Capital (In Bank Stability, Sovereign Debt and Derivatives. Ed. Falzon, J., Palgrave Macmillan, UK (forthcoming 2013) 7 (blind review) Basel III and Banking Efficiency (In Bank Performance, Risk and Securitisation. Ed. Falzon, J., Palgrave Macmillan, UK (forthcoming 2013) 8 (blind review) 1 Co-authors: Humphrey, D., Willesson, M. &Bergendah,l G 2 Co-author: Rimstedt, A.. 3 Co-author: Bergendahl. G. 4 Co-authors: Sandahl, G. & Sjögren, S. 5 Co-author: Sjögren, S. 6 Co-author: Olsson, M. 7 Co-authors: Sandahl, G 8 Co-author: Willesson, M. 9 Co-authors: Olsson, M. & Willesson, M. 3

TEACHING EXPERIENCE 1979-- University of Gothenburg Course Level Operativ planering (ADB-moment) C Managerial economics Ekonomisk analys A Managerial economics Investering & finansiering C Managerial economics Redovisning & Budgetering Semester 1 Accounting Företagets kalkylering AB Managerial economics Lönsamhet och finansiering Sem. 3 Managerial economics Företagsadministration och ekonomistyrning Sem. 3 Management & Accounting Utredningsmodeller Sem. 5 BusinessEk kalkyler Prissättningsanalys Termin 6 Ek kalkyler Praktikfallsstudier Termin 7 Ek kalkyler Ekonomistyrning inom finansiella organisationer Termin 7 Financial management Transport- och hanteringsekonomi TT-linjen MF Finansiering och Prissättning C-kurs K/I - 10 poäng Ekonomistyrning Master MBA (Civil ingenjörer) Prissättningsanalys Master Executive MBA Produktkalkylering/Ekonomisk analys Master Executive MBA Ägarrelationer och Finansiell planering Master Executive MBA Production Management Financial Investments and Instruments Ekonomi I med handelsrätt ICU termin 2 Advanced Corporate Finance Financial International Markets & Institutions Corporate Finance Retail Management C/D Marketing Internationella finansiella marknader Master MBA (Påbyggn utb Civ ing) Bank Management och finansiella D-kurs KI instrument Financial Institutions and Instruments Masterutb (Integr Masters Progr) Financial Policies and Strategies D (Nationalekonomi/KI) Company Valuation D Industrial and financial management Financial Institutions and Markets D Industrial and financial management Risk Exposure and Risk Management Industrial Management D Industrial and financial management Thesis supervising (10/20 credits) C/D/Master 1994 Managerial Economics Prissättningsanalys och internprissättning (Luleå University) 1994 Master in Banking and Finance Bank Cost Structure and Pricing Strategy (IDF, Stockholm University) PhD programme 1991-- Taktisk prissättning och kalkylering F2 KI-klassiker F2 Teori- och metodkurs i KI-analys F1 Research frontiers F1 Advanced Corporate Finance F2 Quantitative Methods F1 PhD (supervisor of approx. 30 PhD-students of which 19 have taken a PhD exam and eleven a licentiate exam) 1992-- Member of faculty examination committee for numerous PhD-theses as well as licentiate 1996-- Faculty opponent at the Universities of Linköping, Lund,and KTH 4

Professional updates etc (past decade) ADMINISTRATIVE POSITIONS (past decade) 2003-2004 Finansiell Ekonomi för ekonomichefer och finanschefer Företaget och de finansiella marknaderna Kapitalstruktur och finansiell företagsstyrning 2005-2006 Företagsvärdering (Company Valuation) 2006 Bolagsstyrning (Corporate Governance) 2008 Bolagsstyrning (Corporate Governance) Business Administration 1996-- Member of the PhD Research Committee of Bus Adm 2003-2009 Chairman of the PhD Research Committee of Bus Adm 2009-2012 Member of the Board of Bus Administration School of Business, Economics and Law 2004-2006 Graduate Business School, HGU (Board member) 2012-- Academic Appointments Board, HGU (Board member) OTHER PROFESSIONAL ACTIVITIES (past decade) 1987-- International journal referee and book reviews (>15) 1993-- External expert (sakkunnig) senior lecturer recruitment (>10) 2005-- Member of the Wolpertinger Club committee of the European Association of Teachers of Banking and Finance, University of Wales, Bangor UK. 2007 Invited to the School of Management and Economics at the Beijing Institute of Technology. 2009-- Board member of the Bertil Danielssons Foundation 5