Journal Articles and Conference Papers

Recent Submissions

  • Manoharan, Shrinath; Stilling, Denise; Kabir, Golam; Sarker, Sudipa (2022-03-02)
    Warehouses are used to store raw materials, finished goods, defective products, tools, machinery, and other company assets until needed. In addition, the warehouse is a staging area for the storage and packaging of products delivered to the customer for consumer industries. Ideally, storage time, storage space, and delivery lead times are minimized by improving warehouse management. This study implements an integration of linear programming (LP) and decision-making models. The LP model provides decision-makers with the optimum quantity of products that can be stored in the warehouse based on different case scenarios considered in this study. Furthermore, the criteria affecting the space utilization of warehouses at total capacity are identified. An integrated approach of rough analytical hierarchical process (AHP) and rough technique for order preference by similarity to ideal solution (TOPSIS) is utilized to determine the best pallet placement on the respective rack. Additionally, this technique identifies the storage racks that require improvements in warehouse space utilization for the products. This methodological approach will help many industries and logistics teams make optimal decisions and improve productivity.
  • Lillrank, Paul; Kahlil, Fares Georges; Bengts, Annika; Kontunen, Perttu; Chen, An; Kaleva, Satu; Torkki, Paulus (2022-08-18)
    Purpose – This article aims to describe the thinking behind MASSE, a project in Finland that helps address the fragmentation of care and patient journey disruptions for long-term care. It outlines the conceptualization of an information technology (IT)-assisted solution and presents preliminary findings and research problems in this ongoing project. Design/methodology/approach – The project employs a service engineering and design science approach with the objective of addressing chronic and multimorbid patients in specialized multiprovider environments. It does this by applying information and communication technologies and organizational design. The project has been a cocreative effort with ongoing interviews and workshops with various stakeholders to inform the conceptualization of a solution, an intermediary step before the implementation phase. Findings – Patient journey disruptions occur when caregivers do not know what to do in specific situations. A potential solution is a virtual care operator (VCO) with a personalized patient card that would enable service ecosystem actors to integrate and coordinate their tasks. This article presents the basic design principles of such a solution. Research limitations/implications – Conceptual ideas and preliminary results only indicative. Practical implications – Systemic integration efforts like those ongoing in Finland can benefit from the VCO concept encouraging a more collaborative way of thinking about integrative solutions and opening up new avenues of research on business implications and ecosystem strategies. Social implications – The VCO concept answers to the continuity of care, the rising costs of health care and the growing numbers of patients with chronic disease and multimorbidity whose care remains fragmented and uncoordinated. Originality/value –Taking an ecosystem approach to care integration and addressing interoperability issues are on the cutting edge of healthcare system transformation.
  • Leminen, Seppo; Rajahonka, Mervi; Wendelin, Robert; Westerlund, Mika; Nyström, Anna-Greta (2022-10-10)
    Digitalization and automation play essential roles in how companies create value for their customers in emerging industries, including autonomous vehicle solutions (AVSs) and automated driving. In this study, we explore digital servitization business models in the context of AVS ecosystems. We utilize publicly available company data to discuss cases that illustrate the emerging business models of AVSs in the business-to-business (B2B) context. We contribute to research on autonomous solutions by identifying four types of AVSs: (i) advanced-data-assisted solutions, (ii) semiautonomous platooning solutions, (iii) autonomous demarcated solutions, and (iv) autonomous swarmed solutions. We advance digital servitization and business model research by revealing business models associated with those AVSs, namely: (i) safety as a service, (ii) efficiency as a service, (iii) capacity as a service, and (iv) flexibility as a service. By combining these three fields of research, we enrich the digital servitization research and address the current gap in research on autonomous solutions by focusing on business models. Our analysis enables the development of novel conceptual tools for autonomous solutions and servitization driven by digitalization. Moreover, we suggest the concept of business model fluidity to explain rapid and autonomous business model changes and adaptation to different use contexts and customer contexts.
  • Lindén, Andreas; Lehner, Othmar M.; Losbichler, Heimo; Martikainen, Minna (2022-07-19)
    Purpose: This paper examines whether ownership type has a moderating influence on dividend payouts during the COVID-19 pandemic crisis with respect to changes in profits. Future uncertainties because of the pandemic will result in a perceived need for liquidity within the company, but retaining cash may be risky for shareholders who could look for less risky alternatives. The dividend payout strategy is thus even more closely related to the overall type concentration and strategy of the owners during the crisis. Design/methodology/approach: The effects are explored and tested on early data from 2019 to 2020 of Finnish companies using ANCOVA while controlling for profitability and sector variables. Findings: A significant effect on dividend payout during the COVID crisis was found when the companies are dominantly held by individual owners validating early suggestions on such an influence. Therefore, this study contributes further to the academic debates on the influence of ownership concentration in times of crises. This study lists certain sectors which experience diminished profits during such a crisis which pinpoints sector separation in future discussions. Research limitations/implications: This study explores early data from a specific context in the Nordic countries. However, it does so out of purpose as explained in the paper. Practical implications: Ownership type and concentration matters when it comes to dividend payout decisions under uncertainty with regard to changes in profit. Investors need to accept these behavioural insights into their decisions. Originality/value: This study examines the signalling effect of dividends by analysing how actual or anticipated change in profitability due to a crisis is reflected by owners and leads to dividend payout decisions under uncertainty.
  • Leitner-Hanetseder, Susanne; Lehner, Othmar M. (2022-07-15)
    Purpose: With the help of “self-learning” algorithms and high computing power, companies are transforming Big Data into artificial intelligence (AI)-powered information and gaining economic benefits. AI-powered information and Big Data (simply data henceforth) have quickly become some of the most important strategic resources in the global economy. However, their value is not (yet) formally recognized in financial statements, which leads to a growing gap between book and market values and thus limited decision usefulness of the underlying financial statements. The objective of this paper is to identify ways in which the value of data can be reported to improve decision usefulness. Design/methodology/approach: Based on the authors' experience as both long-term practitioners and theoretical accounting scholars, the authors conceptualize and draw up a potential data value chain and show the transformation from raw Big Data to business-relevant AI-powered information during its process. Findings: Analyzing current International Financial Reporting Standards (IFRS) regulations and their applicability, the authors show that current regulations are insufficient to provide useful information on the value of data. Following this, the authors propose a Framework for AI-powered Information and Big Data (FAIIBD) Reporting. This framework also provides insights on the (good) governance of data with the purpose of increasing decision usefulness and connecting to existing frameworks even further. In the conclusion, the authors raise questions concerning this framework that may be worthy of discussion in the scholarly community. Research limitations/implications: Scholars and practitioners alike are invited to follow up on the conceptual framework from many perspectives. Practical implications: The framework can serve as a guide towards a better understanding of how to recognize and report AI-powered information and by that (a) limit the valuation gap between book and market value and (b) enhance decision usefulness of financial reporting. Originality/value: This article proposes a conceptual framework in IFRS to regulators to better deal with the value of AI-powered information and improve the good governance of (Big)data.
  • Haga, Jesper; Högholm, Kenneth; Sundvik, Dennis (2022-11-11)
    This study investigates whether and how the amount of firm-specific information incorporated into stock prices changes when there is more quarterly, rather than semi-annual, reporting in the peer group. Using a sample of 33,338 European firm-year observations from 2004 to 2017, we find a significantly negative relationship between stock price synchronicity and concentration of quarterly reporting among a firm’s peers. We argue that more public peer disclosure stimulates acquisition of private firm-specific information. Additional tests show that the negative relationship is strongest among firms with semi-annual reporting, opaque earnings, and low institutional ownership. We further decompose the synchronicity measure into market and industry co-movement and find that the former is decreasing while the latter is increasing with more frequent peer reporting.
  • Laakso, Mikael; Wise, Alicia; Snijder, Ronald (2022-11)
    This paper reports on some of the initial observations from an ongoing study focused on determining the preservation status of academic open access books. The central challenges discussed revolve around lack of common definitions, metadata, and established practices for openly recording preservation status for books.
  • Stolt, Sofia; Bergström, Marina (Svensk-österbottniska samfundet r.f., 2022-06)
  • Saarikorpi, Pekka; Heinonen, Kristina (Editorial de la Universitat Politècnica de València, 2022-04-05)
    The research distinguishes between individual and shared experiences and advances the understanding of the social dimension of customer experience in the context of the arts. Building on the extant C2C literature, but also the experience literature within the cultural research and social sciences, this research integrates experience perspectives of marketing and cultural studies. The paper contributes to the customer experience research by highlighting the social mechanisms of customer experience and provides a foundation for developing the conceptual and empirical understanding of shared C2C experiences. The paper shifts the focus of customer experience as an existential-phenomenological phenomenon to a social phenomenon.
  • Mylly, Ulla-Maija (2022-09-06)
    In academic discourse it has been pointed out that many European courts do not pay sufficient attention to assessing the proportionality of patent law remedies. Article 3 of the Enforcement Directive (IPRED), which harmonizes the remedies for all intellectual property rights (IPRs), requires that remedies be proportionate. However, it seems that this requirement is often overlooked, with more attention being paid to the rest of Art. 3, namely the requirements that remedies be efficient and dissuasive. This article contributes to the discussion on the potential over-enforcement of IPRs, but focuses in particular on analyzing the remedies available under the Trade Secret Directive (TSD). Special attention will be paid to the explicit proportionality factors under the TSD. The availability of the bona fide defense under the TSD will also be analyzed. In this article, comparisons will be made between remedies under patent law and those under trade secret law. This article argues that the trade secret regime differs from the patent regime. Therefore, balancing the various interests under the TSD proportionality factors and the bona fide defense is more important under the trade secret regime than under the patent regime. This article seeks both to identify the differences between the two regimes and to dissect possibilities for a more balanced approach to enforcement practices under the IPRED for patent rights.
  • Espinosa, Alberto; Clark, Mark; Nordbäck, Emma (2022-01-04)
    Today’s work increasingly involves teams with fluid boundaries, and members working on multiple projects at a time. To understand how work is effectively coordinated in such complex organizations, we focus on the role of a company’s task dependency network. We integrate three research streams – coordination, team knowledge and social networks to conceptualize multiteam work as a large collaboration with members in multiple functional roles and areas of expertise, with complex task dependency relationships, operating as a coherent and well-coordinated knowledge network. Through this integration and empirical test of associated hypotheses with data from a European software company, our study illustrates how to represent multiple relationships in one complex multiplex network. This extends our understanding of how the various knowledge relationships and individual attribute differences influence the effective coordination in collaborative software development work. We address the concepts of awareness and shared familiarity and how they affect coordination, while keeping our focus on illustrating the power of network analytics to gain nuanced insights into the drivers of effective coordination.
  • Hyytinen, Ari; Rouvinen, Petri; Pajarinen, Mika; Virtanen, Joosua (2022-11-06)
    We examine how machine learning (ML) predictions of high-growth enterprises (HGEs) help a budget-constrained venture capitalist source investments for a fixed size portfolio. Applying a design science approach, we predict HGEs 3 years ahead and focus on decision (not statistical) errors, using an accuracy measure relevant to the decision-making context. We find that when the ML procedure adheres to the budget constraint and maximizes the accuracy measure, nearly 40% of the HGE predictions are correct. Moreover, ML performs particularly well where it matters in practice—in the upper tail of the distribution of the predicted HGE probabilities.
  • Sthapit, Erose; Björk, Peter; Coudounaris, Dafnis (2022-10-24)
    The global outbreak of the COVID-19 pandemic in 2020 has raised awareness of the importance of physical, mental and spiritual wellness, and many consumers (tourists) are turning to holistic approaches to their health and well-being. This study tests a new model of memorable wellness tourism experience by examining the effects of novelty, experience co-creation, experiencescape, refreshment and involvement. This study also examines the relationship between memorable wellness tourism experience, subjective well-being and revisit intention. Data were gathered from 272 tourists who had recently undertaken a holiday, whose main motivation to undertake this trip was wellness, and who participated in a wellness activity within the six months preceding the data collection period (January–June 2022). An online survey questionnaire was distributed through Amazon Mechanical Turk (MTurk) in July 2022. This study’s main contributions include the extension of the memorable tourism experience concept by including other key factors that influence tourists’ memorable wellness tourism experiences. The relationship between memorable wellness tourism experience, subjective well-being and revisit intention was also shown to be significant.
  • Sthapit, Erose; Björk, Peter; Coudounaris, Dafnis N.; Barreto, Jano Jimenez (2022-10-18)
    Although Halal tourism is becoming an important tourism sector and represents one of the largest niche markets in global tourism, the aspects that makes this type of tourism memorable are still unexplored for academics and practitioners. The aim of this study is to examine the relationships between hedonism, novelty, local culture, refreshment, meaningfulness, involvement, knowledge and memorable Halal tourism experience. The study also examines the relationship between memorable Halal tourism experience and place attachment. Data were gathered from Muslim tourists who had a halal tourism experience during the 48 months preceding the time of data collection (April 2018–March 2022). The empirical results support all eight hypotheses. The results also extend the memorable tourism experience concept in the context of Halal tourism. A positive relationship between a memorable Halal tourism experience and place attachment was also supported.
  • Coudounaris, Dafnis N.; Arvidsson, Henrik G.S. (2021-09-23)
    This study aims to investigate the influence of the big-5 personality traits on causation and effectuation decision-making logics using the entrepreneurial process theory. This is an empirical study based on 113 surveys of managers/entrepreneurs from the Estonian IT sector. The questionnaire was uploaded onto the online platform of and the participants were invited to complete it. The study reveals that only conscientiousness positively and significantly predicts causation logic. However, four of the five factors of personality traits positively and significantly predict effectuation logic, i.e., openness, conscientiousness, extraversion, agreeableness, except for neuroticism. Furthermore, only nine of 25 hypotheses are positive and significant, and of the 11 relationships of the model, three are negative and non-significant for causation logic and eight are negative and non-significant for effectuation logic. Finally, there are another five relationships of the model which are positively but non-significantly related. Managers of IT companies in Estonia should think of shifting to effectuation logic as most personality traits predict effectuation logic, and therefore, there is the possibility of a better performance for IT firms. Eight of the 51 items of the model had standardised regression weights below the threshold of 0.500, but only four were extracted from the final model. The extraction of items from the model indicates the need for the re-identification of the constructs of personality traits using, for example, the six-factor personality traits.
  • Stenbacka, Rune (2022-02-08)
    We show that duopolistic innovation competition between identical firms may lead to an equilibrium with asymmetric corporate governance modes with one firm being shareholder oriented and its rival stakeholder oriented. This happens if the benefit associated with innovation success faced by the stakeholders falls short of an endogenously determined threshold. Above this threshold, the corporate governance equilibrium is symmetric with both firms oriented toward maximization of shareholder value.
  • Peters, Laura E. R.; Shannon, Geordan; Kelman, Ilan; Meriläinen, Eija (2022-11-22)
    Communities are powerful and necessary agents for defining and pursuing their health, but outside organizations often adopt community health promotion approaches that are patronizing and top-down. Conversely, bottom-up approaches that build on and mobilize community health assets are often critiqued for tasking the most vulnerable and marginalized communities to use their own limited resources without real opportunities for change. Taking into consideration these community health promotion shortcomings, this article asks how communities may be most effectively and appropriately supported in pursuing their health. This article reviews how community health is understood, moving from negative to positive conceptualizations; how it is determined, moving from a risk-factor orientation to social determination; and how it is promoted, moving from top-down to bottom-up approaches. Building on these understandings, we offer the concept of ‘resourcefulness’ as an approach to strengthen positive health for communities, and we discuss how it engages with three interrelated tensions in community health promotion: resources and sustainability, interdependence and autonomy, and community diversity and inclusion. We make practical suggestions for outside organizations to apply resourcefulness as a process-based, place-based, and relational approach to community health promotion, arguing that resourcefulness can forge new pathways to sustainable and self-sustaining community positive health.
  • Nilsson, Eva (2022-11-07)
    This article examines how corporate social responsibility (CSR) can serve as an external source of rents for governments that depend on foreign financing for state-building and development. The strategic, instrumental use of CSR has been overlooked in previous research on governments and CSR, especially in the Global South. To understand how CSR can serve as a lever for rents, the concept of “extraversion” is introduced to describe the way in which rent-seeking African governments instrumentalize their asymmetric external relations for political and private benefit. The connection between CSR and rent-seeking is analyzed through a case study of large gas investments in Tanzania. The article finds that the government has set up regulation that enables local and central government authorities to appropriate, mediate, reclaim, or possibly trick CSR practices to gain rents. Based on the study, two contributions are made to the literature on CSR and governments. First, the instrumental use of CSR in the Global South is added to the variety of perspectives that can be taken when studying government agency. Second, CSR is conceptualized as a potential stream of rents for governments to exploit. The article ends with discussing that the outcome of CSR in a rent-seeking environment depends on whether the leveraged resources are managed well to support peaceful and locally beneficial economic development or whether they serve private accumulation through corruption.
  • Mäntysaari, Petri (2022-10-19)
    This comparative legal study focuses on career advancement to a tenured full professor position according to pre-determined criteria in Denmark, Finland, Norway and Sweden. Nordic career advancement and professor recruitment practices to a large extent depend on the applicable national regulatory framework. There are fundamental differences between these countries’ practices. It is customary to use promotion to full professor positions in Norway and Sweden. In Norway, the regulation of promotion to a full professor position is complemented by the regulation of standards. Norwegian promotion practices were used as a model in Sweden, but the Swedish laissez-faire approach to common standards seems to have created problems. American-style tenure-track practices are constrained by the laws of all four countries. The Danish "forfremmelsesprogram til professor" may nevertheless have potential to develop into a close functional equivalent to American-style tenure-track practices. In Finland, tenure-track practices are widespread but not sufficiently aligned with the regulatory framework.
  • Jach, Agnieszka (2022-01-19)
    This paper presents a high-frequency analysis of the Dow-30 stocks during the early stages of the COVID-19 pandemic in February and March 2020. Using a wide range of proxies for stock activity, liquidity, and volatility in 1-min resolution, the impact of the COVID-19 on the stock markets is visually assessed. To gauge the immediate effect of the COVID-19 on the Dow-30 stocks, robust descriptive statistics are used to compare variables during “normal” times in February and “ab-normal” times in March 2020. A 2-to-3-fold change in the level of the indicators and a 2-to-6-fold change in the variability of the indicators is found after the outbreak of the COVID-19 pandemic.

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