Journals

 

Recent Submissions

  • Unknown author (Hanken School of Economics, 2013-06-12)
    For a long time now on-going evaluation such as referee reviews, has been closely associated with the research activities of individual researchers. More recently, it has become increasingly common practice among universities (and other research organizations) to carry out research evaluations grading the level of research areas within universities. As the evaluations are conducted by committees consisting of academically distinguished researchers, they add to the external credibility of the evaluated institutions. This credibility-promoting feature is particularly valuable for small universities with a limited tradition of high-profile research with extensive international visibility. The research evaluations also make internal resource allocation more efficient. Successfully conducted research evaluations serve as a valuable independent and expert-based input for identifying particularly productive research projects and research areas within the organization.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    During my years at Hanken, the subject that we now call Supply Chain Management and Corporate Geography (SCM&CG) has changed dramatically. Two focal areas have grown to become the core of the subject, humanitarian logistics and corporate responsibility. An award-winning conference paper in 2006 triggered international interest and led to the establishment of an international research network in humanitarian logistics (HL). Formalising the group, the Humanitarian Logistics and Supply Chain Research Institute (HUMLOG Institute) was established between Hanken and the National Defence University (NDU) in 2008. Today, the institute serves as a global platform for HL research and the home for the first journal in the field, the Journal of Humanitarian Logistics and Supply Chain Management. The second research focus is corporate responsibility (CR) and sustainable development. While environmental management has been part of the focus of the subject since the 1960s, the research focus on it has been intensified since the end of the 1990s, and has come to include both the social and environmental aspects of corporate activity. While recognising CR as a cross-disciplinary field, the focus fits well within the traditional research themes of corporate geography through its emphasis on research on the localization process, interaction with the external environment, and managing increasingly complex supply chain relationships. Today Hanken offers a CR study module, and, while it is co-ordinated by SCM&CG, it essentially integrates courses from various other subjects at Hanken. What is more, it is offered as a module for students of the University of Helsinki – in return, SCM&CG students have access to logistics and geography courses at the university. It is within this module that the students, in their final work in the course CSR: From Principles to Practice, have the task of organising a panel debate – a debate that has this year attracted very prominent speakers, of which you can read more in this newsletter.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    Design is with us at all times, and this year it has played a special role for many of us, not least because of Helsinki being the World Design Capital 2012. At Hanken, and to me personally, design entails many things, but I want to highlight two perspectives in particular. Firstly, we at Hanken focus on the design of our study programmes and service offerings, from bachelor to doctoral studies, and furthermore to executive education. This involves long-term development of content and learning methods, but it also requires a dynamic capability to create tailor-made solutions for our partners. Secondly, Hanken has hosted several international conferences this year. As it happened, the theme of the 28th EGOS (European Group for Organizational Studies) Colloquium 2012 in Helsinki was design. This conference brought almost 1,800 leading organisation scholars to Hanken and Aalto University to reflect upon the meaning of design in organisation theory and practice. As the former chairman of EGOS, and as a representative of one of the organisers, I felt really proud of Hanken. I believe this is what we want and need to do to remain as a leading international business school.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    Hanken has defined internationalisation as one of its focus areas. For a business school in a small, open economy, this is a natural choice. Recently, many steps towards greater international involvement have been taken, and the results are emerging. The number of international refereed publications per faculty has been steadily increasing, making Hanken the best producing business school in Finland in 2010. For 2011, this ratio has further improved. Our international recruitment activities and our actions to get the AACSB accreditation are expected to further speed up this process. Incentives have also been initiated to motivate papers in top publications. Finally, Hanken researchers have received important international acknowledgements, such as Professor Christian Grönroos’ recent appointment as a Legend of Marketing. Regarding student enrolment, we can note the increase in applications to our international Master’s programmes. And now, as the Bachelor programme students move out for their term abroad, we can also foresee a significant increase in the number of exchange students at the Helsinki and Vaasa campuses, further internationalizing our activities on home ground. Areas of improvement do, admittedly, remain. Our low international research funding is an Achilles’ heel for Hanken, and given its high impact on our state funding, it is imperative for our faculty to figure out how to improve our international applications. International recruitment also remains a challenge. But on a general level, we are well on our way, and more than ready to compete in an international environment.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    The financial crisis has changed the investor’s perception of many assets. Not only has the sound view that real estate assets, as risky assets, can not only go up but also down, returned. We have also been reminded that assets based on interbank debt are only as ‘risk-free’ as the banks themselves. Recently many previously high-rated countries lost their triple-A ratings, leading to chain reactions for financial intermediaries. But has the financial landscape changed in a fundamental way? The issues above are neither new nor contrary to financial theory, only consequences of revised perceptions on risk. At a recent Hanken finance alumni seminar, the “buyand- hold” investment strategy was discussed. While there is some current support for outperforming investment funds, there is – as before – ample evidence that the market efficiency concept is still alive, indirectly supporting long-term strategies. These are not aimed at tactically beating the market, but at harvesting risk premia in the long term. Hanken has an extensive investment strategy, and we look forward to obtaining returns on our investments both in faculty skills and learning environments, as well as on our financial portfolio.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    Hanken defines itself as a research-based business school. Our focus is on high-quality international research, typically evidenced through publications in refereed, high Impact Factor journals. The competition in international research is tough, and the tools are limited: it is all about your faculty, and its incentives and possibilities for research. Lately we have seen a strengthening of the incentives to publish in top journals. Also in the recruiting new faculty, research quality has been in focus. Now we can see some of the fruit of our labours. During an accreditation visit to Hanken, we could present a list of our publications where our faculties have contributed. The list included top journals such as the American Economic Review, the Academy of Management Review, and the Journal of Financial Economics. According to the crude measure of refereed international publications per faculty, used by the Ministry of Education and Culture, Hanken has annually improved its score, scoring highest in 2010 among all universities with business education in Finland. We are happy for our current successes, but hopefully only in the beginning of the process towards an even higher research quality.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    So here we are again. Just as the fear that the financial crisis of 2008 would turn out to be a “double-dip” was starting to fade, the markets fell. On the surface, this crisis looks different. This is not a question of defaults in complex instruments, but fear of country defaults in very simple instruments. There is, however, at least one similarity: banks are again involved. For many countries, saving Greece is mostly a question of saving their own national banks. It also seems different because now the countries that last time played a crucial role in supporting the financial system are themselves weaker. As a professor in Finance, I feel much more in the mist now; there don’t seem to be any neat solutions - only very tough ones. For higher education in Finland, these tougher times have meant cuts in public funding. It is unfortunate that the educational system, which would benefit from predictability and stability, has to live with the markets. Fortunately, thanks to our very successful fundraising campaign, Hanken has a robust balance sheet. So, despite the mist in the financial markets, we can look to the future with confidence.
  • Unknown author (Hanken School of Economics, 2013-04-19)
    The recent parliamentary elections in Finland saw a flood of voices speaking against immigration / internationalisation. For a business school aiming at high-quality research as well as at educating business managers for the Finnish and international business communities, internationalisation is a must. Why? First, the obvious. Finland is a small, export-dependent country. Business is increasingly global. The days when firms could manage well by producing for the local market are definitely gone. Most new successful firms are now “born global”, i.e. focused on global markets from the very start. Managing international business requires knowledge of international markets as well as international contacts. Hanken is unique in Finland due to the language skills mastered by our students as well as our mandatory foreign exchange period. As a side effect, sending students abroad also internationalises our Helsinki and Vaasa campuses, since bilateral exchange agreements bring a fine mixture of international students from top schools to Hanken. Research, too, is international. To be on the front line requires the ability to communicate and interact with the international research community. We need to recruit internationally among top researchers, not just locally. Ideally, part of our faculty will be international, without jeopardizing our responsibility for education in Swedish in the business sector. Hanken is at the very beginning of this process, and great effort is needed to compete for business academics on the international job market .
  • Unknown author (Hanken School of Economics, 2013-04-19)
    Finnish universities are just beginning to learn how to enhance their economy with externally raised funds. Such funding undoubtedly offers great opportunities for quality improvements, but there are both internal and external challenges involved. The external challenges include our own culture and traditions. In a Nordic welfare state, where reliance on direct state funding for e.g. health care and education has been substantial, companies and individuals are not used to financially support universities. Fortunately, the concept of external funding is gaining momentum in Finland, due to the promise of matching funds from the Finnish state. It really looks like things are hanging. For the sake of Finnish universities (i.e. maintaining their international competitiveness, a costly venture), let’s hope the change is permanent. The internal challenges are several: in most Finnish universities, alumni networks are weak or lacking, as well as being novice fund-raisers. Another challenge will also be the investment of the proceedings. Hanken has been very successful in overcoming both the external and internal obstacles, to a large degree due to our broad and active alumni network. We are now in the process of setting guidelines for our investment activities. Balancing between a good long-run return and avoiding excessive short-run volatility is not an easy task. Fortunately, our basic balance is sound. Still, in the future, for Hanken friends, there will be one more reason to check how the financial markets are doing.