"Det utspridda kärret; överallt och växande form" : Eva Wichmans novell "Kärret" som en prosamodernistisk berättelse om kvinnligt skapande

I min avhandling diskuterar jag om och hur man kan läsa Eva Wichmans novell "Kärret" (ur Molnet såg mig, 1942) som en prosamodernistisk berättelse om ett kvinnligt subjekt, och om kvinnligtskapande. Jag vill mot en prosamodernistisk bakgrund visa min tolkning med en stilistisk och entematisk analys. I min inledning markerar jag att forskare har haft svårt att avgöra vad Eva Wichman egentligen vill säga med "Kärret". De flesta definierar "Kärret" som en fabel, en moralisk berättelse. I min tolkning betonar jag att novellen kan läsas som en prosamodernistisk fabel om det kvinnliga skapandet. Eva Wichman har i många av sina verk beskrivit en kvinnlig konstnärs svårigheter i massamhället och den manliga världen. Jag anser därför att denna tolkning inte är långsökt då det gäller en naturallegori som "Kärret". Jag redovisar kort för bakgrunden till prosamodernismen; definierar stilistiska grundbegrepp i lyrikoch prosa samt diskuterar med hjälp av Peter Luthersson och Gunilla Domellöf hur den modernistiska individualiteten konstituerar sig i förhållande till samhället ochmoderniseringsprocessen. Jag tar fasta på den kvinnliga författarens skapandeprocess och poängterar, med hjälp av bl.a. Dominique Head och Domellöf, att det kvinnliga skapandet ofta är svårt att erhålla i ett traditionellt manligt samhälle. Head, Domellöf och Rachel Blau DuPlessis menar att det modernistiska skapandet hos kvinnor i stor grad sker med hjälp av stilistiska brott och luckor. I synnerhet förhållandet mellan metafor och metonymi utgör en viktig metod för den kvinnliga modernisten. I mitt tredje kapitel analyserar jag "Kärret" stilistiskt. Modernismen i "Kärret" går ut sammanställa motsatser och sinnesanalogier. Jag tar upp det lyriska och metaforiska i "Kärret"; upprepningar,parallellismer, rytm och dynamik, samt förhållandet mellan metaforer och metonymier utgående från en artikel av David Lodge. Jag demonstrerar i stilanalysen hur Eva Wichman bygger upp ett cykliskt mytiskt berättande. Detta cirkelberättande kan, enligt Domellöf, ses som en kvinnlig utmaning mot det traditionella manliga berättandet. Förhållandet mellan metaforer och metonymier spelar en stor roll också i min tematiska analys. Jag läser kärret i novellen som en symbol för ett kvinnlig subjekt. Kärret är uppbyggt av motsatser. Dessamotsatser kan ses som metaforer i min tolkning av kärret som kvinnligt subjekt. Motsatsparen yta/djup läser jag som den medvetna respektive undermedvetna nivån i det kvinnliga subjektet. Djupet, den undermedvetna nivån, analyserar jag delvis med hjälp av Julia Kristevas begrepp abjektet. Metaforerna spegel/öga ser jag som subjekt/objekt och manligt/kvinnligt i förhållande till det kvinnliga subjektet. Med hjälp av abjektet, omnipotens/känslighet, rörelse/statis samt liv/död visar jag hur Eva Wichman beskriver det konstnärliga skapandet, och den konstnärliga alieneringen i kontrast till det förtryckandet massamhället. Här baserar jag mig på Lutherssons resonemang om den modernistiska individualiteten. På så sätt drar jag slutsatsen att kärret som kvinnligt subjekt kan läsas som ett kvinnligt författarjag. "Kärret" är en berättelse om kvinnlig skaparkraft, om ett kvinnligt subjekt som skapar och verkar isamhället. Eva Wichman gestaltar det kvinnliga berättandet både tematiskt och språkligt. Därför är "Kärret" enligt mig inte en pessimistisk berättelse om ett "säkert nederlag" som många påstår, utan en storslagen fabel om ett modernistiskt subjekt i process. Nyckelord: Eva Wichman, Molnet såg mig, prosamodernism, kvinnligt subjekt, abjekt, metafor, metonymi

Vem vänder vindarna? – Vem tänder stjärnorna? Några metodiska grepp i analysen av Eva Dahlgrens rocktexter

Abstract (Vem vänder vindarna ? – Vem tänder stjärnorna? Methodological choices in the analysis of Eva Dahlgren’s rock lyrics): This article deals with some methods I have found useful in analyzing the lyrics in rock music, particularly the lyrics by the Swedish singer songwriter Eva Dahlgren (born 1960). The article is based on my doctoral thesis in progress, dealing with the relationship between the lyrics (in particular the “I” of the lyrics), and the public persona of Eva Dahlgren, as well as the process of "doing Eva Dahlgren" (the constructing of her artist persona). I take my starting point in the lyrics of Dahlgren’s big hit "Vem tänder stjärnorna" (Dahlgren 1991). First, I discuss the themes of the lyrics, mostly the spiritual or religious themes. Second, I present and discuss the methods in my own work. The first method is inspired by conversational analysis, and is based on a transcription of the performed lyrics, with the aim of grasping the dialogues between the words and the music, more specifically Dahlgren’s use of voice. My other methods are related to my aim to describe Dahlgren’s public persona, and the construction of “Eva Dahlgren”. I have used concepts and models developed by the musicologist Laura Ahonen and literary scholar Karin Strand, in an effort to describe the many levels in Dahlgren’s (performed) “I” as well as the different actors in the process of shaping and reshaping images of Eva Dahlgren.

Modernismens förespråkare : Gösta Stenman och hans konstsalong

This dissertation, based on material from Stenman s vast private archive, examines the role played by Swedish-speaking Finnish art dealer Gösta Stenman (1888-1947) and his art gallery, Stenmans Konstsalong, in the Finnish and Swedish art worlds from 1911 to 1947. This archive is examined here for the first time. The analytical framework used for this empirical study derives from Pierre Bourdieu s sociological theories. An art-sociological approach allows for the inclusion of more mechanisms at work in the art world than are typically embraced in such inquiries. This approach provides a fuller understanding of how Stenman attained his standing and central role in the art world in Finland as well as Sweden; enabling us to appreciate how he came to occupy such a prominent position in current art historical writing. All of these issues constitute new areas of research. Taking his cues from the contemporary art world of Paris, Stenman became the year 1914 a modern art dealer like no other in the Nordic countries. This dissertation represents the first academic investigation into his operations, strategies, and objectives, offering insight into not only the art dealer himself but also the functioning of the art market one of the most vital aspects of the art world. A by-product of this work, is that the modern art market in Finland is portrayed, including essential issues related to its growth and development as well as how it altered the conditions under which art could be produced, exhibited and promoted and what this entailed for the art world at large, artists and patrons alike. This first systematic analysis of the operations of Stenman s Konstsalong offers greater understanding of the art worlds of Sweden and Finland in the early twentieth century. The work also looks at how an agent of the art market could move between the fields of art in Sweden and Finland. The manner in which Stenman promoted individual artists, including his relationships with Tyko Sallinen, Helene Schjerfbeck, Juho Mäkelä, Jalmari Ruokokoski, Siri Derkert, Esther Kjerner, Eva Bagge, and many others, also falls within this purview. Stenman s contract with Sallinen from 1913 stands out as a new phenomenon in Finnish art promotion, whereby an artistic career became established via a far-sighted, strategic promotional program. The case study of Stenman s promotion of Schjerfbeck in Sweden provides evidence of the increasingly advanced nature of Stenman s strategies. The title of the dissertation, The Promoter of Modernism, attempts to convey that Stenman was the consummate modernist, modern in his thoughts, his actions, and his approach to art. Keywords: Gösta Stenman, Stenmans konstsalong, Stenmans dotter, art market, modernism, collecting, Novembergruppen, Helene Schjerfbeck, Tyko Sallinen, Juho Mäkelä, Jalmari Ruokokoski, Wäinö Aaltonen, Siri Derkert, Åke Göransson, Esther Kjerner, Eva Bagge.

Historiebruk kring Nådendal : och den kommemorativa anatomin av klostrets minnesplats

This thesis examines the ruins of the medieval Bridgettine (Birgittan) monastery of Naantali (Vallis Gratiae, f. 1443) in Finland and the transformation of the site into a national heritage and a memory landscape. It was archaeologically surveyed in the 19th century by Professor Sven Gabriel Elmgren (1817 1897). His work was followed by Dr. Reinhold Hausen (1850 1942), who excavated the site in the 1870s. During this time the memories of Saint Bridget (Birgitta) in Sweden were also invented as heritage. Hausen published his results in 1922 thus forming the connection with the next generation of actors involved with the Naantali site: the magnate Amos Anderson (1878 1961), the teacher Julius Finnberg (1877 1955) and the archaeologist Juhani Rinne (1872 1950). They erected commemorative monuments etc. on the Naantali site, thus creating a memory landscape there. For them, the site represented the good homeland in connection with a western-oriented view of the history of Finland. The network of actors was connected to the Swedish researchers and so-called Birgitta Friends, such as state antiquarian Sigurd Curman (1879 1966), but also to the members of the Societas Sanctae Birgittae and the Society for the Embellishment of Pirita, among others. Historical jubilees as manifestations of the use of history were also arranged in Naantali in 1943, 1993 and 2003. It seems as if Naantali is needed in Finnish history from time to time after a period of crisis, i.e. after the Crimean War in the 1850s, the civil war of 1918, during World War II and also after the economic crisis of the early 1990s. In 2003, there was a stronger focus on the international Saint Bridget Jubilee in Sweden and all over Europe. Methodologically, the thesis belongs to the history of ideas, but also to research on the use of history, invented traditions and lieux de mémoire. The material for the work consists of public articles and scholarly texts in books or newspapers and letters produced by the actors and kept in archives in Finland, Sweden and Estonia, in addition to pictures and erected commemorative monuments in situ in the Western Finnish region. Keywords: Nådendal, Naantali monastery, Bridgettines, St. Bridget, use of history, lieux de mémoire, invented traditions, commemorative anatomy, memory landscape, Saint Bridget jubilees , S. G. Elmgren, R. Hausen, A. Anderson, J. Finnberg, J. Rinne, S. Curman, High Church Movement, Pirita, Vadstena.

Tule, rakkaani! : Naisen ja miehen välisestä etiikasta kirjallisuuden rakkauskuvauksissa

Tutkin väitöskirjassani naisen ja miehen välistä rakkautta ja naisen ja miehen välisen rakkauden kuvauksia kirjallisuudessa ranskalaisen filosofin Luce Irigarayn samuuden järjestyksen kritiikin ja sukupuolieron etiikan valossa. Osoitan ensinnäkin, kuinka Platonin Pidoissa, Percy Bysshe Shelleyn Epipsychidionissa (1821) ja Barbara Cartlandin Liekehtivässä lumessa (1975) kuvataan rakkautta kahden rakastavaisen yhteensulautumiseksi - tutkin millaisia haltuunottamisen ja sulauttamisen muotoja rakastavaisten välillä näissä teoksissa tulee esille. Toiseksi osoitan, kuinka Laulujen laulussa, Dian kreivittären 1100-luvulla kirjoittamassa lyriikassa ja Guillevicin runokokoelmasta Trouées (1981) löytyvässä sikermässä Ylistyslaulu kuvataan rakkautta kahden toisiinsa palautumattoman rakastavaisen väliseksi suhteeksi - syvennyn näistä teoksista löytyviin kuvauksiin toista ihmettelevästä kohtaamisesta, toisen huomioonottavasta puhuttelemisesta ja toista hyväilevästä koskettamisesta. Tutkimukseni keskiössä on siis rakastavaisten välinen etiikka eli kysymykset siitä, kuinka rakastavaisten välinen suhde voisi toteutua ilman että kumpikaan pyrkisi haltuunottamaan toista. Objektivoivan analyysin sijaan tutkimusmenetelmänäni on rakkaudellinen vuoropuhelu niin valitsemieni kaunokirjallisten teosten kuin Irigarayn filosofiankin kanssa. Seuraan tässä Irigarayn ja toisen ranskalaisen ajattelijan Hélène Cixous'n työskentelytapoja - heidän mukaansa pysähtyvä ja kuulosteleva asenne on pyrkivää ja tarttuvaa otetta hedelmällisempi niin inhimillistä toista kuin kirjallistakin toista lähestyttäessä, sillä sen avulla toinen voi säilyttää liikkuvuutensa, arvaamattomuutensa ja vapautensa. Työni tulokset ovat johtopäätösten sijaan avauksia. Jatkan tutkimuksessani Irigarayn työtä ulottamalla hänen samuuden järjestyksen kritiikkinsä ja sukupuolieron etiikan hahmottelunsa kirjallisuudentutkimuksen alueelle. Irigarayta seuraten ajattelen uudelleen naisen ja miehen, henkisen ja ruumiillisen, aistimellisen ja transsendentaalisen välisiä suhteita. Tehtävänämme ei ole muodostaa rakkauden teoriaa tai rakastavaisten välisen etiikan ohjelmaa, vaan tutkia mitä etiikka merkitsee ja voisi merkitä rakkauden alueella.

Moderneja ryijyjä, metritavaraa ja käsityötä : Tekstiilitaide ja nykyaikaistuva taideteollisuus Suomessa maailmansotien välisenä aikana

Modern ryijys, fabric by the yard and handicrafts. Finnish textile art and modernizing applied art during the inter-war years Textile art was in the 1920s and 1930s in the front rank of Finnish applied art and design. Modern ryijys, tapestries and fabrics by the yard by contemporary textile artists were on show in Finland and abroad. Textile art had also become interesting commercially, especially in interior textiles of modern homes. The research uses sources of the Ornamo Association of Decorative Artists, for example the Ornamo year books published from 1927, the Finnish Society of Crafts and Design and the country s only school of applied arts, the Central School of Arts and Crafts and the Museum of Applied Arts maintained by the society and also the national specialist organisation the Friends of Finnish Handicraft. It also refers to the magazines Käsiteollisuus and Kotiliesi. The art historical dissertation studies the renaissance of weaving art of the inter-war years in Finland. It problematizes the relation of the succesfull and appreciated textile art to the concept of breakthrough of Modernism (Functionalism). With the material from textile artists activities it questions the prevailing idea of slow modernization of Finnish applied art and design and challenges the polarization of craft and industry in the discourses of Modernisms of design. The public discussions about modernization of design and applied art where textile art and especially the ryijy got sometimes into difficult positions are interpreted as power struggles. After taking independence in 1917 the Finnish tradition of ryijy rugs was set as a symbol of the original culture of the young nation. The research studies the development of the so called art ryijy and the notions and meanings of hand weaving in the national context and also in relation to contemporary events in international applied art and design. It highlights the continuity of hand crafted production of textiles and the strong position of textile artists working in this field. The research opens new perspectives to Finnish textile artists by showing their activities as entrepreneurs in their own weaving studios or design studios and referring to their many relations and functions as pattern designers and educators in the growing handicraft industries.

Ion-regulatory proreins in neuronal development and communication

Brain function is critically dependent on the ionic homeostasis in both the extra- and intracellular compartment. The regulation of brain extracellular ionic composition mainly relies on active transport at blood brain and at blood cerebrospinal fluid interfaces whereas intracellular ion regulation is based on plasmalemmal transporters of neurons and glia. In addition, the latter mechanisms can generate physiologically as well as pathophysiologically significant extracellular ion transients. In this work I have studied molecular mechanisms and development of ion regulation and how these factors alter neuronal excitability and affect synaptic and non-synaptic transmission with a particular emphasis on intracellular pH and chloride (Cl-) regulation. Why is the regulation of acid-base equivalents (H+ and HCO3-) and Cl- of such interest and importance? First of all, GABAA-receptors are permeable to both HCO3- and Cl-. In the adult mammalian central nervous system (CNS) fast postsynaptic inhibition relies on GABAA-receptor mediated transmission. Today, excitatory effects of GABAA-receptors, both in mature neurons and during the early development, have been recognized and the significance of the dual actions of GABA on neuronal communication has become an interesting field of research. The transmembrane gradients of Cl- and HCO3- determine the reversal potential of GABAA-receptor mediated postsynaptic potentials and hence, the function of pH and Cl- regulatory proteins have profound consequences on GABAergic signaling and neuronal excitability. Secondly, perturbations in pH can cause a variety of changes in cellular function, many of them resulting from the interaction of protons with ionizable side chains of proteins. pH-mediated alterations of protein conformation in e.g. ion channels, transporters, and enzymes can powerfully modulate neurotransmission. In the context of pH homeostasis, the enzyme carbonic anhydrase (CA) needs to be taken into account in parallel with ion transporters: for CO2/HCO3- buffering to act in a fast manner, CO2 (de)hydration must be catalyzed by this enzyme. The acid-base equivalents that serve as substrates in the CO2 dehydration-hydration reaction are also engaged in many carrier and channel mediated ion movements. In such processes, CA activity is in key position to modulate transmembrane solute fluxes and their consequences. The bicarbonate transporters (BTs; SLC4) and the electroneutral cation-chloride cotransporters (CCCs; SLC12) belong the to large gene family of solute carriers (SLCs). In my work I have studied the physiological roles of the K+-Cl- cotransporter KCC2 (Slc12a5) and the Na+-driven Cl--HCO3- exchanger NCBE (Slc4a10) and the roles of these two ion transporters in the modualtion of neuronal communication and excitability in the rodent hippocampus. I have also examined the cellular localization and molecular basis of intracellular CA that has been shown to be essential for the generation of prolonged GABAergic excitation in the mature hippocampus. The results in my Thesis provide direct evidence for the view that the postnatal up-regulation of KCC2 accounts for the developmental shift from depolarizing to hyperpolarizing postsynaptic EGABA-A responses in rat hippocampal pyramidal neurons. The results also indicate that after KCC2 expression the developmental onset of excitatory GABAergic transmission upon intense GABAA-receptor stimulation depend on the expression of intrapyramidal CA, identified as the CA isoform VII. Studies on mice with targeted Slc4a10 gene disruption revealed an important role for NCBE in neuronal pH regulation and in pH-dependent modulation of neuronal excitability. Furthermore, this ion transporter is involved in the basolateral Na+ and HCO3- uptake in choroid plexus epithelial cells, and is thus likely to contribute to cerebrospinal fluid production.

Risk factors for open angle glaucoma; a clinical and molecular genetic study

Glaucoma, optic neuropathy with excavation in the optic nerve head and corresponding visual field defect, is one of the leading causes for blindness worldwide. However, visual disability can often be avoided or delayed if the disease is diagnosed at an early stage. Therefore, recognising the risk factors for development and progression of glaucoma may prevent further damage. The purpose of the present study was to evaluate factors associated with visual disability caused by glaucoma and the genetic features of two risk factors, exfoliation syndrome (ES) and a positive family history of glaucoma. The present study material consisted of three study groups 1) deceased glaucoma patients from the Ekenäs practice 2) glaucoma families from the Ekenäs region and 3) population based families with and without exfoliation syndrome from Kökar Island. For the retrospective study, 106 patients with open angle glaucoma (OAG) were identified. At the last visit, 17 patients were visually impaired. Blindness induced by glaucoma was found in one or both eyes in 16 patients and in both eyes in six patients. The cumulative incidence of glaucoma caused blindness for one eye was 6% at 5 years, 9% at 10 years, and 15% at 15 years from initialising the treatment. The factors associated with blindness caused by glaucoma were an advanced stage of glaucoma at diagnosis, fluctuation in intraocular pressure during treatment, the presence of exfoliation syndrome, and poor patient compliance. A cross-sectional population based study performed in 1960-1962 on Kökar Island and the same population was followed until 2002. In total 965 subjects (530 over 50 years) have been examined at least once. The prevalence of exfoliation syndrome (ES) was 18% among subjects older than 50 years. Seventy-five of all 78 ES-positives belonged to the same extended pedigree. According to the segregation and family analysis, exfoliation syndrome seemed to be inherited as an autosomal dominant trait with reduced penetrance. The penetrance was more reduced for males, but the risk for glaucoma was higher in males than in females. To find the gene or genes associated with exfoliation syndrome, a genome wide scan was performed for 64 members (28 ES affected and 36 controls) of the Kökar pedigree. A promising result was found: the highest two-point LOD score of 3.45 (θ=0.04) in chromosome18q12.1-21.33. The presence of mutations in glaucoma genes TIGR/MYOC (myocilin) and OPTN (optineurin) was analysed in eight glaucoma families from the Ekenäs region. An inheritance pattern resembling autosomal dominant mode was detected in all these families. Primary open angle glaucoma or exfoliation glaucoma was found in 35% of 136 family members and 28% were suspected to have glaucoma. No mutations were detected in these families.

Specific language impairment in pre-adolescence, adolescence, and adulthood with special emphasis on health-related quality of life

This clinical study focused on effects of childhood specific language impairment (SLI) on daily functioning in late life. SLI is a neurobiological disorder with genetic predisposition and manifests as poor language production or comprehension or both in a child with age-level non-verbal intelligence and no other known cause for deficient language development. The prevalence rate of around 7% puts it among the most prevalent developmental disorders in childhood. Negative long-term effects, such as problems in learning and behavior, are frequent. In follow-up studies the focus has seldom been on self-perception of daily functioning and participation, which are considered important in the International Classification of Functioning, Disability, and Health (ICF). To investigate the self-perceived aspects of everyday functioning in individuals with childhood receptive SLI compared with age- and gender-matched control populations, the 15D, 16D, and 17D health-related quality of life (HRQoL) questionnaires were applied. These generic questionnaires include 15, 16, and 17 dimensions, respectively, and give both a single index score and a profile with values on each dimension. Information on different life domains (rehabilitation, education, employment etc.) from each age-group was collected with separate questionnaires. The study groups comprised adults, adolescents (12-16 years), and pre-adolescents (8-11 years) who had received a diagnosis of receptive SLI and had been examined, usually before school age, at the Department of Phoniatrics of Helsinki University Central Hospital, where children with language deficits caused by various etiologies are examined and treated by a multidisciplinary team. The adult respondents included 33 subjects with a mean age of 34 years. Measured with 15D, the subjects perceived their HRQoL to be nearly as good as that of their controls, but on the dimensions of speech, usual activities, mental functioning, and distress they were significantly worse off. They significantly more often lived with their parents (19%) or were pensioned (26%) than the adult Finnish population on average. Adults with self-perceived problems in finding words and in remembering instructions, manifestations of persistent language impairment, showed inferior every day functioning to the rest of the study group. Of the adolescents and pre-adolescents, 48 and 51, respectively, responded. The majority in both groups had received special education or extra educational support at school. They all had attended speech therapy at some point; at the time of the study only one adolescent, but every third pre-adolescent still received speech therapy. The 16D score of the adolescent or the 17D score of the pre-adolescents did not differ from that of their controls. The 16D profiles differed on some dimensions; subjects were significantly worse off on the dimension of mental functioning, but better off on the dimension of vitality than controls. Of the 17D dimensions, the study group was significantly worse off on speech, whereas the control group reported significantly more problems in sleeping. Of the childhood performance measures investigated, low verbal intelligence quotient (VIQ), which is often considered to reflect receptive language impairment, was in adults subjects significantly associated with some of the self-perceived problems, such as problems in usual activities and mental functioning. The 15D, 16D, and 17D questionnaires served well in measuring self-perceived HRQoL. Such standardized measures with population values are especially important in confirming with the ICF guidelines. In the future these questionnaires could perhaps be used on a more individual level in follow-up of children in clinics, and even in special schools and classes, to detect those children at greatest risk of negative long-term effects and perhaps diminished well-being regarding daily functioning and participation.

Participes présents et gérondifs en traduction finnoise : perte ou changement de valeur ?

Les participes présents apparaissent, entre autres, dans des constructions à prédication seconde détachées : (1) Intervenant hier soir à Ankara, […], Vladimir Poutine s’est risqué à […]. (Le Figaro 7.12.2004 : 4) Même si les gérondifs, formes adverbiales du verbe (« converbes », cf. Haspelmath & König 1995), n’ont pas d’incidence nominale, contrairement aux participes présents, formes adjectivales du verbe, et ne sont donc pas toujours comptés parmi les constructions à prédication seconde (p.ex. Neveu 1998), les deux ont des emplois assez proches : dans des énoncés du type (2a-b), le participe adjoint peut être paraphrasé par un gérondif, même si son statut fonctionnel n’est pas le même (Halmøy, 2003 : 156-157) : (2a) Arrivant à Paris, Emile a proposé à Léa de [...]. (2b) En arrivant à Paris, Emile a proposé à Léa de[...]. (Halmøy, 2003 : 157) Le finnois ne connaît ni ce genre de constructions détachés ni de forme appelée ‘gérondif’, et les deux participes présents finnois (actif et passif) ne correspondent jamais à un participe présent détaché français : en plus de subordonnées, on trouve à leur place le deuxième infinitif, soit à l’inessif, soit à l’instructif, formes nominales qu’on trouve également dans la traduction des gérondifs : (3a) […] ? me demanda-t-elle sèchement en me montrant l’une des lignes incriminées. (Nothomb, p. 62) […] : hän kysyi minulta kuivakkaasti näyttäen erästä Unajin moittimaa riviä. (Suni, p. 4) (3b) L’espace d’un instant, il sourit, croyant que […] je m’étais trompée de commodités. (Nothomb, p. 138-139) Hetken hän hymyili luullen, että minä […] olin erehtynyt mukavuuslaitoksesta. (Suni, p. 94) : Dans cette communication, nous examinerons quatre traductions littéraires en nous demandant dans quels cas et de quelle manière la différence entre le participe et le gérondif a éventuellement été prise en considération.

Oligarchs, political regime changes, and firm valuation

This paper examines the impact of a regime shift on the valuation of politically powerful oligarch firms. Focusing on the Yeltsin-Putin regime shift in Russia, we find that the valuations of outside shareholders claims are significantly higher under the Putin regime than under the Yeltsin regime after controlling for industry and time effects. The findings suggest that the increasing cost of extracting private benefits outweigh the reduction in the value of political connections following the political regime change. The results are also consistent with changes in the risk of state expropriation. Our results show that effects driven by the political regime change complement the traditional view stating that increased ownership concentration improved the performance of Russian oligarch firms.

A Comparison of Managers’ Perception of Short-Termism in Finland, Sweden and the U.S

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.

Tax Reform and Payout Policy:Do Shareholder Clienteles or Payout Policy Adjust?

Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms’ dividend policy decisions, we find that Finnish firms altered their dividend policies based on the changed tax incentives of their largest shareholders. While firms adjust their payout policies, our results also indicate that ownership structures of Finnish firms also changed around the 2004 reform, consistent with shareholder clienteles adjusting to the new tax system.

Real Estate Investment and Uncertainty: Econometric Modelling using Finnish Data

The purpose of this paper is to test for the effect of uncertainty in a model of real estate investment in Finland during the hihhly cyclical period of 1975 to 1998. We use two alternative measures of uncertainty. The first measure is the volatility of stock market returns and the second measure is the heterogeneity in the answers of the quarterly business survey of the Confederation of Finnish Industry and Employers. The econometric analysis is based on the autoregressive distributed lag (ADL) model and the paper applies a 'general-to-specific' modelling approach. We find that the measure of heterogeneity is significant in the model, but the volatility of stock market returns is not. The empirical results give some evidence of an uncertainty-induced threshold slowing down real estate investment in Finland.

Share Repurchases, Dividends, and Executive Options

This paper reports empirical results on the determinants of the authorization decision for share repurchases and dividends in Finland. We use a data set with precise data on share repurchases as well as characteristics for the option programs. Contrary to the U.S., we use a data set where 41% of the options are dividend protected, which allows us to separate between the "option funding" and "substitution / managerial wealth" hypothesis for the choice of the distribution method. We find that foreign ownership is the main determinant for share repurchases in Finland and attribute this relationship to tax factors. We also find evidence in support of both the signaling and agency cost hypotheses for cash distributions, especially in the case of share repurchases. Finally, we find a significant difference between companies with and without dividend protected options. When options are dividend protected, the relationship between dividend distributions and the scope of the options program turns to a significantly positive one instead of the negative one documented on U.S. data. This gives some support for the substitution / managerial wealth hypothesis as a determinant for the choice of the distribution method.