Hanken Newsletter 1-2011

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Title: Hanken Newsletter 1-2011
Publisher: Hanken School of Economics
Date: 2013-04-19
Language: en
URI: http://hdl.handle.net/10138/38892
Abstract: 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.

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