Browsing by Subject "Finland"

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  • Liljeblom, Eva; Vaihekoski, Mika (Elsevier, 2010-12-31)
    Increased media exposure to layoffs and corporate quarterly financial reporting have created arguable a common perception – especially favored by the media itself – that the companies have been forced to improve their financial performance from quarter to quarter. Academically the relevant question is whether companies themselves feel that they are exposed to short-term pressure to perform even if it means that they have to compromise company’s long-term future. This paper studies this issue using results from a survey conducted among the 500 largest companies in Finland. The results show that companies in general feel moderate short-term pressure, with reasonable dispersion across firms. There seems to be a link between the degree of pressure felt, and the firm’s ownership structure, i.e. we find support for the existence of short-term versus long-term owners. We also find significant ownership related differences, in line with expectations, in how such short-term pressure is reflected in actual decision variables such as the investment criteria used.
  • Galkina, Tamara; Yang, Man (2020-08-24)
    We explore the internationalization of Slush, an entrepreneurship-promoting NGO from Finland that expanded to Japan, China, and Singapore. We incorporate the social movement theory that allows revealing special mechanisms of NGOs’ internationalization. We show, first, that international opportunity development of internationalizing NGOs is triggered by the shared dissatisfaction with societal conditions. Second, their collective resource mobilization enables networks and learning in foreign markets. Third, internationalizing NGOs overcome internationalization liabilities through building their social identities. We also offer a model of NGO internationalization that incorporates the social movement theory. Overall, our study broadens internationalization research by bringing a non-business theory into it.
  • Louvrier, Jonna (Hanken School of Economics, 2013-08-27)
    In many countries diversity management has become an increasingly common way of treating differences between people in the world of work. Companies may sign diversity charters to show their engagement in promoting diversity, design and implement diversity management programmes, and communicate about their diversity initiatives to internal and external stakeholders. But what does diversity in the workplace mean? Who is defined as being different? And what do those defined as being different think about diversity and difference in work? By addressing these questions this book sheds light on the complex meanings of diversity management. The meanings of diversity management have long been developed and discussed in relation to equality and anti-discrimination policy and practice. A key question has been whether diversity management is a better way to enhance equality between organisational members or, on the contrary, is it diluting the results of equality approaches. The scope of this study is broader and shows that meanings of diversity management are constructed by drawing on not only knowledge about equality and anti-discrimination, but also understandings of society, the organisation, the individual, and the nature of differences. The study is informed by poststructuralist theory and based on interview data produced with 23 diversity managers and 52 ethnic minority employees in diversity promoting organisations in Finland and France. The findings contribute to the field of diversity management in several ways. First of all, the results show that there is no unitary meaning of diversity, difference and diversity management, but a number of discourses together forming the complexity and variety of what diversity management can come to mean in a given context and at a given point of time. Secondly, the findings challenge the idea that diversity management initiatives would be based solely on essentialist views of difference. However, the findings also show that even when differences are seen to be socially constructed, the organisation is not seen as participating in the construction of differences and in the production of related inequalities. Thirdly, the findings show that ethnic minority employees rarely draw on their differences as positive resources in work, and that they often are left alone to manage challenging situations related to difference, even in organisations promoting diversity. Lastly, the study highlights the importance of being attentive to national societal context, as discursively constructed, throughout the research process.
  • Högholm, Kenneth; Liljeblom, Eva (1997)
    This paper surveys empirical research in Finland on central topics within the area of corporate finance, that is, topics related to corporate financing (including issues of equity and debt), dividend policy, and mergers and acquisitions. For each of these three core topics, a brief overview of the papers surveyed and their connections to each other is provided. Some central results are described in more detail. Finally, these results are summarised in order to provide a picture of level of current knowledge of the empirical regularities observed on the Finnish market, and the theories gaining support in explaining these. The paper ends with suggestions for future research.
  • Galkina, Tamara (Svenska handelshögskolan, 2013-05-23)
    Despite the wide application of the network approach in Entrepreneurship and International Entrepreneurship, previous research lacks understanding of entrepreneurial networking as a process. Also, existing research views entrepreneurial networks as relatively stable and structured entities that are created in response to the defined resource needs and goals of a new venture. However, non-goal-oriented side of entrepreneurial networking has been neglected. Thus, the ultimate goal of this thesis is to study the intended and unintended aspects of the process of entrepreneurial networking. In this research, unintended entrepreneurial networking is understood through the lens of effectuation theory, which represents a logic of reasoning opposite to causation or a goal driven action based on predictive rationality. The findings from the five essays included into this thesis demonstrate that the process of purposeful creation of entrepreneurial network has three phases – activation of existing contacts, purposeful creation of new contacts, and evolution of entrepreneurial network. Also, entrepreneurial infrastructure influences this process, namely the involvement of formal and informal relations into the network. In addition, the results show that causation and effectuation are constantly intertwined in the process of entrepreneurial networking. The way the entrepreneurs networked, causally or effectually, depends upon the content of establishing a relation, the value of either the quality or quantity of a relation, and entrepreneur’s personality. In the context of internationalization and forming networks in foreign markets, entrepreneurial firms are likely to network effectually due to the conditions of high uncertainty. They are likely to enter foreign markets following their networks instead of these markets determining where and what partners to select. These findings lead to the implications that networking plans do not always work and entrepreneurs need to remain open to unexpected connections. Moreover, in highly uncertain situations they can leverage contingences in order to increase available opportunities. Also, the thesis suggests several implications derived from the comparison of entrepreneurial networking of Russian and Finnish founding teams. For example, it recommends Finnish entrepreneurs expanding their businesses to Russia to use networking services of various organizations, to find a network expert who has local knowledge and connections, and to rely on informal business relations.
  • Khoreva, Violetta (Svenska handelshögskolan, 2012-09-13)
    A growing awareness of gender inequality as well as a conviction that it should be eliminated has produced a number of studies aiming at uncovering its reasons. Much less attention has been given to the subjective dimension of how individuals perceive gender inequality. One of the main elements of gender inequality, the gender pay gap, has also received considerable attention by scholars all around the world. However, several researchers documented that their respondents did not perceive the existence of the gender pay gap, even when the gap could be clearly demonstrated from statistical sources. Besides, previous studies on organizational justice have come to somewhat inconsistent conclusions regarding gender differences in the effect of equity and organizational justice on organizational commitment. Examining whether and to what extent people perceive gender inequality and the gender pay gap to exist can help answering the question of why gender inequality and the gender pay gap persist. Furthermore, studying why, even though female employees tend to earn less than their comparable male counterparts, they often continue to be committed to their organizations to the same or even greater extent than their male colleagues is indeed a question of interest. Against the background of the above discussion, this thesis aims to examine how individuals with different backgrounds and employees from different workplaces perceive gender inequality, the gender pay gap, and react to pay inequity. The findings indicate that far more employees perceive gender inequality in society in general rather than in their own workplaces, which means that while employees realize that there are problems in Finnish society concerning gender inequality as a whole, they tend not to perceive the existence of this very problem in their own workplaces. The finding that employees in lower hierarchical positions perceived workplace gender inequality to a greater extent than employees in higher hierarchical positions was the least expected. This finding suggests that those employees, who are in higher hierarchical positions, are least likely to see the problem of gender inequality. Finally, the findings show that female employees tend not to perceive an income differential in the first place. The thesis thus provides evidence that female employees react to a lesser extent to pay disparities by continuing to be highly committed towards their organizations. These differences are partly explained by factors related to social comparisons and gender socialization.
  • Liljeblom, Eva; Vaihekoski, Mika (2004)
    Financial literature advocates the use of the Net Present Value method for the evaluation of investments. Its key parameter is the required rate of return on equity, which is to be calculated using the Capital Asset Pricing Model or a similar model especially if the company is publicly listed. However,there is ample evidence on companies not necessarily utilizing the NPV method or the CAPM in their capital budgeting and investment evaluation processes. This paper presents results of a survey conducted among the companies listed on the Helsinki Stock Exchange. The results show that the Finnish companies still lag behind US and Swedish companies in their use of the NPV, and the IRR method,even though it has become more commonly used during the last ten years. CAPM is used in surprisingly few companies, and 27 percent of the companies have not even defined their required rate of return on equity.
  • Koveshnikov, Alexei (Svenska handelshögskolan, 2014-08-05)
    Multinational corporations (MNC) are often presented as powerful but ‘faceless’ institutional actors that shape the world we live in. However, we have lately seen increasing interest in actual ‘faces,’ that is the key actors, behind the MNC’s functioning in relation to the cases of fraud and bankruptcy that, together with other factors, led to the severe financial crisis at the end of 2000s. The cases of Enron and Lehman Brothers easily come to mind. It raised concerns that power abuses and tricky political games developing and proliferating within MNCs can have tremendous corporate as well as societal impacts and consequences. Yet, as of now, the micro-level power and political relations between actors in MNCs and their implications, i.e. what I call in this thesis ‘micro-politics,’ are seldom examined. Moreover, neither is the role that the institutional, cultural and sociopolitical contexts play in these micro-political relations among actors within MNCs sufficiently understood. Against this background, in this thesis I attempt to give ‘a face’ to the MNC. That is, I apply a number of ideas from comparative institutional theory, social cognition and translation studies to examine micro-political aspects of the interactions between organizational actors in MNCs that determine how these corporations function both on day to day basis and in a longer run. By so doing, I strive to offer a more nuanced, contextualized, and actor-focused sociological understanding of power and political interactions among organizational actors within the MNC. It is important to study and comprehend these processes in order to better explain them and to some extent control them.
  • Niemistö, Charlotta; Hearn, Jeff; Kehn, Carolyn; Tuori, Annamari (2021-03-12)
    This article investigates the gendered dynamics of motherhood and careers, as voiced by professionals in the knowledge-intensive business sector in Finland. It is informed by the CIAR method through 81 iterative, in-depth interviews with 23 women and 19 men. Among the women respondents with no children, one child, or two children, three dominant forms of discursive talk emerge: ‘It takes two to tango’, ‘It’s all about time management’ and ‘Good motherhood 2.0’. Though Finland provides a seemingly egalitarian Nordic welfare state context, with the ‘Finnish Dream’, women face contradictions between expectations of women as full-time ideal workers pursuing masculinist careers and continuing responsibilities at home, performing ‘good motherhood’. The women’s double strivings meet the double constraining demands of these ideals. The gendered pressures are imposed on the women by themselves, male colleagues, the organisation more broadly and society, leading the women to enact a form of ‘bounded individualism’.
  • Cleland Silva, Tricia (Hanken School of Economics, 2016-11-14)
    This monograph is a study on how, from 2007 to 2010, five groups of nurses from the Philippines were recruited and transnationally managed and organised to live and work in Finland for both private elderly care facilities and surgical wards in Finnish municipal hospitals. The thesis is critical of international human resource management (IHRM) as a discipline and practice, and discursively analyses structural and societal issues of control and compliance of the historically gendered and racialised occupation of nursing. Furthermore, the transnational processes and movement of human capital from the Philippines to Finland is discussed in terms of (re)producing managerial practices of nurse work which create barriers to equality in the workplace. The study identifies and maps the interaction of various private and public representatives through the transnational practices of recruitment and placement of Filipino nurses into Finnish nursing institutions. Through the identification of the Finnish representatives and the subsequent construction of their associated social worlds based on work practices and commitments, the maps illustrate the organising of human resources transnationally. Subsequently, structural mechanisms, particularly in terms of institutional, national, and international policy and law regulations, are addressed by highlighting transnational human resource management (THRM) practices and discursive positions dominated by public and private representatives in the packaging of the nurses. As a whole, the study strives to broaden the theoretical and empirical examination of migrating nurses to encompass the transnational management of private and public representatives involved in the recruitment and placement practices at institutionalised, meso-levels of organising.
  • Ehrnström-Fuentes, Maria; Jauho, Mikko; Jallinoja, Piia (2019-12)
    The modern industrialized food system has faced criticism for several decades. Since the 1990s, various alternative food networks (AFNs) have attempted to increase the economic, environmental and social sustainability of the food system. A recent innovation in Finland, REKO food rings, was motivated by the desire to enhance the livelihood of farmers and to facilitate a broader change in agricultural practices. It applies contemporary social media tools to organize communication and trade between producers and consumers. The present paper analyses perceptions and experiences of sustainability among REKO producers using thematic interviews and questionnaire data. The results show that the expectations for increased sustainability are high, but the producers nevertheless face multiple challenges to ensure sustainability in their daily practices. Many producers reported having modified their production methods to be more environmentally sustainable already before joining REKO. With regards to economic sustainability, after an enthusiastic start, the positive impacts of REKO have started to diminish. Our findings point to the variations and dynamics of the experiences and perceptions that exist across locations and product segments.
  • Sthapit, Erose; Björk, Peter (2017-07-18)
    For some tourists, shopping is a “must-do” activity, and many tourists’ purchases can be classified as souvenirs. This study employs a grounded theory approach to explore the central elements of souvenirs that help tourists reminisce about their holiday experiences and encourage their intentions to revisit a place. Based on semi-structured interviews with visitors to Rovaniemi, Finland, from 14 different nationalities, uniqueness, usability and functionality emerged as central elements that prolonged memorability of the travel experience and encouraged revisit intention. This research contradicts studies indicating that a lack of authenticity is an attraction when buying souvenirs and that tourists purchase “genuine counterfeit products” while on holiday due to their lower prices. The managerial implications of this study are that tourism service providers who sell souvenirs in similar contexts should invest more resources on offering objects that represent uniqueness and on local food products and clothes, as well as kitchenware, which represent usability and functionality.
  • Galkina, Tamara; Kock, Sören (Hanken School of Economics, 2014-10-17)
    As a growing market, Russia holds great economic interest and potential opportunities for international companies, especially Finnish SMEs. Due to their geographic proximity, Russia and Finland have a long history of established business and trade relations. Finland’s major economic institutions were formed during the period when the country was under Russian rule. Also, the two countries had bilateral trade relations for approximately forty years. Nowadays, Russia is acknowledged as one of Finland’s biggest trading partners and the most important direction for internationalisation of small and medium-sized Finnish companies. Finland has a strategic geopolitical position as a gateway between East and West; hence, there is great potential for the growth of trade, investment, technology transfer and other cooperation between Russian and Finnish businesses. The present book is a result of a long collaborative research project between the Hanken School of Economics, Finland, and St. Petersburg State University, Russia. The book is a response to two calls: one from Finnish business practitioners to develop practical guidelines on how to establish and operate small businesses in Russia and the other from the academe to conduct more research on Russia as a turbulent market with high potential for small entrepreneurial firms. What makes this book different from existing guide books on how to conduct business in Russia? First, it targets a very specific audience; namely, Finnish entrepreneurs and business practitioners who plan to establish their businesses in Russia or who already have companies operating there. We believe our target audience will benefit from this narrow focus as it addresses concrete problems typical for Finnish business people in Russia. We also hope that the results of our research will be employed for teaching purposes in business schools across Finland as, nowadays, many of them offer special courses on Russian business. Second, our research team comprises scholars from both Finland and Russia, which offers a dual perspective on this phenomenon. Third, the empirical part of this research is based on qualitative case studies, not on broad statistical analyses. This approach enabled us to go deeply into specific business cases and to perceive the challenges of running businesses in Russia through the eyes of entrepreneurs and managers.
  • Sundvik, Dennis (2017-09-05)
    Purpose The purpose of this paper is to examine three different responses to the Finnish 2005 tax reform that, among other things, reduced the corporate tax rate and hiked dividend taxation. Focus lies on the factors influencing the decision to change the fiscal year-end and whether earnings management is more prevalent when the decision is not taken. Design/methodology/approach This study uses the financial statement data of Finnish private firms and studies 350 fiscal year-end changing firms and 700 non-changing firms with logistic and linear regression analysis. Discretionary accruals are the proxy for earnings management. Findings The results suggest that firms seize the window of opportunity and extend fiscal years depending on the magnitude of the expected tax savings. Firms that do not change their fiscal year-end engage in more tax-induced earnings management. In terms of economic consequences, the earnings management approach is less economically significant. Research limitations/implications This study only examines a limited number of firms that change their fiscal year-end, hence, care has been exercised in generalising the findings. Practical implications The findings may be considered when structuring future tax reforms, particularly when considering transition rules relating to changes in fiscal year-ends. The study may also have implications beyond tax reforms since the evidence of opportunistic changes in the fiscal year-end can be informative for tax authorities, independent auditors and creditors. Originality/value This study contributes to the relatively scarce literature on private firm responses to tax policy changes by analysing both upward and downward earnings management, as well as changes in the fiscal year-end. This is in contrast to previous research that mainly focusses on listed firms and absolute earnings management or earnings management in one direction.
  • Koveshnikov, Alexei; Ehrnrooth, Mats (2018-11-09)
    In this article, we examine the cross-cultural variation in the perceived effects of idealized influence and individualized consideration leadership behaviors – two behavioral dimensions of transformational leadership – on followers’ organizational identification in two culturally distinct countries: Russia and Finland. We also test whether the followers’ role ambiguity mediates these relationships. Using the self-concept-based theory of leadership as an explanatory framework, our analysis of white-collar employees in four Finland-based multinational corporations and their subsidiaries in Russia shows that whereas in Russia both behaviors facilitate followers’ identification, in Finland only idealized influence does. We also find differences in how role ambiguity mediates the relationship between the two behaviors and followers’ identification in the two countries. In Russia, it fully mediates the relationship between individualized consideration and followers’ identification, whereas in Finland it partially mediates the relationship between idealized influence and followers’ identification.
  • Koskinen Sandberg, Paula Hannele; Törnroos, Maria; Kohvakka, Roosa (2017-06-27)
    This article analyses the role of collective agreements in institutionalising and legitimising the undervaluation of work conducted by women. The undervaluation of women’s work has been identified as one of the main causes of the gender pay gap. Despite this, it continues to escape many of the policy measures on gender pay equity that focus on establishing wage discrimination. The Finnish local government sector provides an interesting case for research on undervaluation, as it has several collective agreements and several wage determination systems for different employee groups. However, a local authority is a single employer, and is obliged by law to treat all employees equally. Although the processes of wage determination vary across different national contexts, institutionalised undervaluation is very likely among highly feminised jobs and occupations worldwide. This article sees wages as social practices that reflect and are shaped by institutional, societal and historical contexts.
  • Sthapit, Erose; Björk, Peter (2018-09-11)
    The present study utilized netnography to explore specific value dimension(s) that generate three types of value outcomes as a result of interactive value formation (IVF) – value co-creation, value co-destruction and value no-creation – in a tourism accommodation services context. Customer-generated content on TripAdvisor was analyzed. The keywords ‘good’, ‘positive’, ‘excellent’, ‘great’ and ‘nice’ were used to capture visitors’ online narratives linked to the value co-creation outcome of IVF. The following negative emotional words denoted the value co-destruction outcomes of IVF: ‘bad’, ‘negative’, ‘worst’, ‘terrible’ and ‘poor’. The keywords ‘ok’, ‘average’, ‘standard’, ‘decent’ and ‘not good not bad’ were linked to value no-creation. Out of the 1,138 online reviews screened, the study focused on 263 reviews linked to 6 different hotels in Vaasa, Finland. A grounded theory approach was used to analyse the data. The findings were based on only one value dimension that resulted in all three types of value outcomes: hotel breakfast. We suggest that future studies on value should also incorporate the value no-creation dimension for a holistic and realistic understanding of the concept.