DHanken Digital Repository of Hanken School of Economics

Nyligen publicerat

  • Danielsson, Margareta (Wiley, 2016)
  • Högholm, Kenneth (Canadian Center of Science and Education, 2016)
  • Harviainen, J. Tuomas; Frank, Katherine (Sage Publications, Inc, 2016)
    Drawing on ethnographic and interview data collected from the United States and Finland on lifestyle (‘‘swinging’’) events, this article explores the implicit and explicit rules influencing negotiations for group sex as a type of play. Participants maintain a sense of freedom and spontaneity while acting within situational constraints—ethical expectations, preexplicated rules, implicit rules, and complex negotiations that occur during the play itself either openly or more subtly. Because it has implications for the participants’ everyday lives, lifestyle group sex is a phenomenon on the border between games and adult play. Through an analysis of the rules and social contracts arising in group sex, we demonstrate how participants learn to read interactions at group sex events in the way that players learn game systems and how they can and do become ‘‘good players’’ in such situations.
  • Laakso, Mikael; Lindman, Juho (Akademiai Kiado Rt, 2016)
    Most scholarly journals have explicit copyright restrictions for authors outlining how published articles, or earlier manuscript versions of such articles, may be distributed on the open web. Empirical research on the development of open access (OA) is still scarce and methodologically fragmented, and research on the relationship between journal copyright restrictions and actual free online availability is non-existent. In this study the free availability of articles published in eight top journals within the field of Information Systems (IS) is analyzed by observing the availability of all articles published in the journals during 2010-2014 (1515 articles in total) through the use of Google and Google Scholar. The web locations and document versions of retrieved articles for up to three OA copies per published article were categorized manually. The web findings were contrasted to journal copyright information and augmented with citation data for each article. Around 60% of all published articles were found to have an OA copy available. The findings suggest that copyright restrictions weakly regulate actual author-side dissemination practice. The use of academic social networks (ASNs) for enabling online availability of research publications has grown increasingly popular, an avenue of research dissemination that most of the studied journal copyright agreements failed to explicitly accommodate.
  • Björk, Bo-Christer; Shen, Cenyu; Laakso, Mikael (PeerJ, Ltd, 2016-05-10)
    Open Access (OA) is nowadays increasingly being used as a business model for the publishing of scholarly peer reviewed journals, both by specialized OA publishing companies and major, predominantly subscription-based publishers. However, in the early days of the web OA journals were mainly founded by independent academics, who were dissatisfied with the predominant print and subscription paradigm and wanted to test the opportunities offered by the new medium. There is still an on-going debate about how OA journals should be operated, and the volunteer model used by many such ‘indie’ journals has been proposed as a viable alternative to the model adopted by big professional publishers where publishing activities are funded by authors paying expensive article processing charges (APCs). Our longitudinal quantitative study of 250 ‘indie’ OA journals founded prior to 2002, showed that 51% of these journals were still in operation in 2014 and that the median number of articles published per year had risen from 11 to 18 among the survivors. Of these surviving journals, only 8% had started collecting APCs. A more detailed qualitative case study of five such journals provided insights into how such journals have tried to ensure the continuity and longevity of operations.
  • Sundvik, Dennis (Svenska handelshögskolan, 2016-09-21)
    The opportunistic aspects of financial reporting have largely been investigated under the umbrella term of earnings management. However, most research is devoted to capital market settings and listed firms in large economies, including the United States in particular. As a contrast, this dissertation examines earnings management based on tax incentives among private firms in European settings. In particular, the four interrelated essays analyze situations where the statutory corporate tax rate in a country is changed and firms are expected to report lower (higher) earnings while the tax rate is higher (lower) to reduce their total tax burden. While these tax changes are introduced to enhance international tax competitiveness, they also give rise to strong incentives for earnings management. For example, when the tax rate is to be decreased, firms may employ various accruals to defer earnings from high to low tax periods. The first essay of the dissertation contributes to the literature by investigating decomposed measures of earnings management instead of relying on a broad measure that does not provide much insight. Based on Swedish private firms, the analyses clearly show income-decreasing earnings management on the aggregate level before two tax rate cuts. The aggregate results are later observed to be largely driven by unexpected changes in accounts receivable. The second essay uses Finnish data and provides evidence that private firms, under certain circumstances, also change the end of the fiscal year to achieve benefits around tax reforms. Further, the analyses demonstrate that a reform that simultaneously lowers corporate tax and hikes dividend tax creates conflicting incentives to manage earnings. The motivation behind the third essay stems from the debate on the appropriate level of book-tax conformity. The essay documents that higher conformity between accounting and tax reporting in jurisdictions is associated with more earnings management in response to an upcoming change in the tax rate. A contribution of this study is the analysis of a clear incentive for earnings management instead of a sole focus on absolute measures. In the fourth and final essay, private firms that use external help in the financial reporting process are separated from firms that do not. The hypothesis is that firms, that handle their accounting function internally, have greater possibilities to influence their reporting opportunistically. The results also suggest that the minority of smaller private firms who perform the tasks in-house, and have the knowledge and resources needed, are able to manage taxes to a larger extent
  • Zhang, Mo (Svenska handelshögskolan, 2016-09-14)
    Along with Chinese economic development, the Chinese stock market is growing rapidly, and is now the second largest stock market in the world. However, despite its size, the Chinese stock market trades like the wildest emerging markets, with huge volatility, big boom and bust cycles, driven by fast-trading individual investors, and heavy involvement from the government. Owing to the peculiarity of the Chinese economic and political system, there are some unique structures within the Chinese stock market. In one sense, this makes the Chinese stock market an interesting laboratory. This dissertation comprises three single-authored essays. The first two analyze a special phenomenon, called B-share discounts in the Chinese stock market, seeking to explain why this phenomenon exists from the perspective of exchange risk. It shows that dual-class stock price disparity in the Chinese stock market can be explained, in a way, by exchange risk, meaning that “to some extent, investors are rational and ask for compensation for taking extra risks”. This is in line with the classical efficient market theory. The second essay uses this phenomenon as a natural experiment to test whether a new reform policy, namely granting permission for short selling, benefits the efficiency of the Chinese stock market. When the Chinese government lift the ban on short selling in the Chinese stock market, mispricing decreases significantly, even though the volume of short selling in the Chinese stock market is trivial relative to total trading volume. Instead of studying a particular set of stocks, the third essay focuses on the mispricing formation mechanism at the general market level. The market results show that both the resale option and inflation illusion hypotheses can explain the level of market mispricing. Only investors’ heterogeneous beliefs affect the volatility of market mispricing, in line with the resale option hypothesis prediction. Additionally, the results show that state-controlled industries tend to be underestimated more, when mispricing is negative, but to be overvalued less, when mispricing is positive.