An Examination of How Entrepreneurs Can Improve Their Position in Relation to Investors

Previous research has been inconclusive regarding the impact of those who invest in entrepreneurs. Consider for a moment how potentially important they are to entrepreneurs. They for example decide who deserves funding, how much time they contribute to their portfolio firms, how they grant entrepreneurs access to their networks, and help entrepreneurs acquire additional funding. In sum, investors potentially have a great impact on the success of entrepreneurs. It is therefore important that we better understand the environment, relationships and context in which parties operate. This thesis contains five articles that explore investors’ and entrepreneurs’ relationships from various viewpoints, in theoretical frameworks, and use a variety of data and research methods. The first article is a literature review that summarises what we know of venture capital, business angel and corporate venture capital funding. The second article studies the entrepreneurs’ investor selection process, its consequences, and identifies key factors that influence the process. Earlier, the common approach has been to concentrate research on the investors’ selection policy, not the entrepreneurs’. The data and conclusions are based on multiple case studies. The article analyses how entrepreneurs can ensure that they get the best possible investor, when it is possible for an entrepreneur to select an investor, and what are the consequences of investor selection. The third article employs power constructs (dependency, power balance/imbalance, power sources) and analyses their applicability in the investor-entrepreneur relationship. Power constructs are extensively studied and utilised in the management and organisation literature. In entrepreneur investor relationships, power aspects are rarely analysed. However, having the ability to “get others to do things they would not otherwise do” is a very common factor in the investor-entrepreneur relationship. Therefore, employing and analysing the applicability of power constructs in this setting is well founded. The article is based on a single case study but suggests that power constructs could be applicable and consequently provide additional insights into the investor-entrepreneur relationship. The fourth article studies the role of advisors in the venture capital investment process and analyses implications for research and practice, particularly from the entrepreneurs’ perspective. The common entrepreneurial finance literature describes the entrepreneur-investor relationship as linear and bilateral. However, it was discovered that advisors may influence the relationship. In this article, the role of advisors, operating procedures and advisors’ impact on different parties is analysed. The fifth article concentrates on investors’ certification effect. The article measures and demonstrates that venture capital investment is likely to increase the credibility (in terms of media attention) of early stage firms, those that most often need additional credibility. Understanding investor certification can affect how entrepreneurs evaluate investment offers and how investors can make their offers appear more lucrative.

Constructions and situations : a constructivist reading of Hegel's System

The object of this work is Hegel's Logic, which comprises the first third of his philosophical System that also includes the Philosophy of Nature and the Philosophy of Spirit. The work is divided into two parts, where the first part investigates Hegel s Logic in itself or without an explicit reference to rest of Hegel's System. It is argued in the first part that Hegel's Logic contains a methodology for constructing examples of basic ontological categories. The starting point on which this construction is based is a structure Hegel calls Nothing, which I argue to be identical with an empty situation, that is, a situation with no objects in it. Examples of further categories are constructed, firstly, by making previous structures objects of new situations. This rule makes it possible for Hegel to introduce examples of ontological structures that contain objects as constituents. Secondly, Hegel takes also the very constructions he uses as constituents of further structures: thus, he is able to exemplify ontological categories involving causal relations. The final result of Hegel's Logic should then be a model of Hegel s Logic itself, or at least of its basic methods. The second part of the work focuses on the relation of Hegel's Logic to the other parts of Hegel's System. My interpretation tries to avoid, firstly, the extreme of taking Hegel's System as a grand metaphysical attempt to deduce what exists through abstract thinking, and secondly, the extreme of seeing Hegel's System as mere diluted Kantianism or a second-order investigation of theories concerning objects instead of actual objects. I suggest a third manner of reading Hegel's System, based on extending the constructivism of Hegel's Logic to the whole of his philosophical System. According to this interpretation, transitions between parts of Hegel's System should not be understood as proofs of any sort, but as constructions of one structure or its model from another structure. Hence, these transitions involve at least, and especially within the Philosophy of Nature, modelling of one type of object or phenomenon through characteristics of an object or phenomenon of another type, and in the best case, and especially within the Philosophy of Spirit, transformations of an object or phenomenon of one type into an object or phenomenon of another type. Thus, the transitions and descriptions within Hegel's System concern actual objects and not mere theories, but they still involve no fallacious deductions.

Tiedostumaton nykytaiteessa : Katse, ääni ja aika vuosituhannen taitteen suomalaisessa nykytaiteessa

Leevi Haapala explores moving image works, sculptures and installations from a psychoanalytic perspective in his study The Unconscious in Contemporary Art. The Gaze, Voice and Time in Finnish Contemporary Art at the Turn of the Millennium . The artists included in the study are Eija-Liisa Ahtila, Hans-Christian Berg, Markus Copper, Liisa Lounila and Salla Tykkä. The theoretical framework includes different psychoanalytic readings of the concepts of the gaze, voice and temporality. The installations are based on spatiality and temporality, and their detailed reading emphasizes the medium-specific features of the works as well as their fragmentary nature, heterogeneity and affectivity. The study is cross-disciplinary in that it connects perspectives from the visual culture, new art history and theory to the interpretation of contemporary art. The most important concepts from psychoanalysis, affect theory and trauma discourse used in the study include affect, object a (objet petit a) as articulated by Jacques Lacan, Sigmund Freud s uncanny (das Unheimliche) and trauma. Das Unheimliche has been translated as uncanny in art history under the influence of Rosalind Krauss. The object of the study, the unconscious in contemporary art, is approached through these concepts. The study focuses on Lacan s additions to the list of partial drives: the gaze and voice as scopic and invocative drives and their interpretations in the studies of the moving image. The texts by the American film theorist and art historian Kaja Silverman are in crucial role. The study locates contemporary art as part of trauma culture, which has a tendency to define individual and historical experiences through trauma. Some of the art works point towards trauma, which may appear as a theoretic or fictitious construction. The study presents a comprehensive collection of different kinds of trauma discourse in the field of art research through the texts of Hal Foster, Cathy Caruth, Ruth Leys and Shoshana Felman. The study connects trauma theory with the theoretical analysis of the interference and discontinuity of the moving image in the readings by Susan Buck-Morss, Mary Ann Doane and Peter Osborn among others. The analysis emphasizes different ways of seeing and multisensoriality in the reception of contemporary art. With their reflections and inverse projections, the surprising mechanisms of Hans-Christian Berg s sculptures are connected with Lacan s views on the early mirroring and imitation attempts of the individual s body image. Salla Tykkä s film trilogy Cave invites one to contemplate the Lacanian theory of the gaze in relation to the experiences of being seen. The three oceanic sculpture installations by Markus Copper are studied through the vocality they create, often through an aggressive way of acting, as well as from the point of view of the functioning of an invocative drive. The study compares the work of fiction and Freud s texts on paranoia and psychosis to Eija-Liisa Ahtila s manuscripts and moving image installations about the same topic. The cinematic time in Liisa Lounila s time-slice video installations is approached through the theoretical study of the unconscious temporal structure. The viewer of the moving image is inside the work in an in-between state: in a space produced by the contents of the work and its technology. The installations of the moving image enable us to inhabit different kinds of virtual bodies or spaces, which do not correspond with our everyday experiences. Nevertheless, the works of art often try to deconstruct the identification to what has been shown on screen. This way, the viewer s attention can be fixed on his own unconscious experiences in parallel with the work s deconstructed nature as representation. The study shows that contemporary art is a central cultural practice, which allows us to discuss the unconscious in a meaningful way. The study suggests that the agency that is discursively diffuse and consists of several different praxes should be called the unconscious. The emergence of the unconscious can happen in two areas: in contemporary art through different senses and discursive elements, and in the study of contemporary art, which, being a linguistic activity is sensitive to the movements of the unconscious. One of the missions of art research is to build different kinds of articulated constructs and to open an interpretative space for the nature of art as an event.

Proofs, Paradoxes, and Probabilities : The Logical Turn of Philosophy in Finland

This monograph describes the emergence of independent research on logic in Finland. The emphasis is placed on three well-known students of Eino Kaila: Georg Henrik von Wright (1916-2003), Erik Stenius (1911-1990), and Oiva Ketonen (1913-2000), and their research between the early 1930s and the early 1950s. The early academic work of these scholars laid the foundations for today's strong tradition in logic in Finland and also became internationally recognized. However, due attention has not been given to these works later, nor have they been comprehensively presented together. Each chapter of the book focuses on the life and work of one of Kaila's aforementioned students, with a fourth chapter discussing works on logic by authors who would later become known within other disciplines. Through an extensive use of correspondence and other archived material, some insight has been gained into the persons behind the academic personae. Unique and unpublished biographical material has been available for this task. The chapter on Oiva Ketonen focuses primarily on his work on what is today known as proof theory, especially on his proof theoretical system with invertible rules that permits a terminating root-first proof search. The independency of the parallel postulate is proved as an example of the strength of root-first proof search. Ketonen was to our knowledge Gerhard Gentzen's (the 'father' of proof theory) only student. Correspondence and a hitherto unavailable autobiographic manuscript, in addition to an unpublished article on the relationship between logic and epistemology, is presented. The chapter on Erik Stenius discusses his work on paradoxes and set theory, more specifically on how a rigid theory of definitions is employed to avoid these paradoxes. A presentation by Paul Bernays on Stenius' attempt at a proof of the consistency of arithmetic is reconstructed based on Bernays' lecture notes. Stenius correspondence with Paul Bernays, Evert Beth, and Georg Kreisel is discussed. The chapter on Georg Henrik von Wright presents his early work on probability and epistemology, along with his later work on modal logic that made him internationally famous. Correspondence from various archives (especially with Kaila and Charlie Dunbar Broad) further discusses his academic achievements and his experiences during the challenging circumstances of the 1940s.

Interest in university studies : Its role and relation to other motivational variables

This dissertation empirically explored interest as a motivational force in university studies, including the role it currently plays and possible ways of enhancing this role as a student motivator. The general research questions were as follows: 1) What role does interest play in university studies? 2) What explains academic success if studying is not based on interest? 3) How do different learning environments support or impede interest-based studying? Four empirical studies addressed these questions. Study 1 (n=536) compared first-year students explanations of their disciplinary choices in three fields: veterinary medicine, humanities and law. Study 2 (n=28) focused on the role of individual interest in the humanities and veterinary medicine, fields which are very different from each other as regards their nature of studying. Study 3 (n=52) explored veterinary students motivation and study practices in relation to their study success. Study 4 (n=16) explored veterinary students interest experience in individual lectures on a daily basis. By comparing different fields and focusing on one study field in more detail, it was possible to obtain a many-sided picture of the role of interest in different learning environments. Questionnaires and quantitative methods have often been used to measure interest in academic learning. The present work is based mostly on qualitative data, and qualitative methods were applied to add to the previous research. Study 1 explored students open-ended answers, and these provided a basis for the interviews in Study 2. Study 3 explored veterinary students portfolios in a longitudinal setting. For Study 4, a diary including both qualitative and quantitative measures was designed to capture veterinary students interest experience. Qualitative content analysis was applied in all four studies, but quantitative analyses were also added. The thesis showed that university students often explain their disciplinary choices in terms of interest. Because interest is related to high-quality learning, the students seemed to have a good foundation for successful studies. However, the learning environments did not always support interest-based studying; Time-management and coping skills were found to be more important than interest in terms of study success. The results also indicated that interest is not the only motivational variable behind university studies. For example, future goals are needed in order to complete a degree. Even so, the results clearly indicated that it would be worth supporting interest-based studying both in professionally and generally oriented study fields. This support is important not only to promote high-quality learning but also meaningful studying, student well-being, and life-long learning.

An Analysis of the Concept of Citizenship: Legal, Political and Social Dimensions

The thesis aims at analyzing concept of citizenship in political philosophy. The concept of citizenship is a complex one: it does not have a definitive explication, but it nevertheless is a very important category in contemporary world. Citizenship is a powerful ideal, and often the way a person is treated depends on whether he or she has the status of a citizen. Citizenship includes protection of a person’s rights both at home and abroad. It entails legal, political and social dimension: the legal status as a full member of society, the recognition of that status by fellow citizens and acting as a member of society. The thesis discusses these three dimensions. Its objective is to show how all of them, despite being insufficient in some aspects, reach something important about the concept. The main sources of the thesis are Civic Republicanism by Iseult Honohan (Routledge 2002), Republicanism by Philip Pettit (Clarendon Press 1997), and Taking Rights Seriously by Ronald Dworkin (1997). In addition, the historical part of the thesis relies mainly on the works of Aristotle, Immanuel Kant, Adam Smith, Quentin Skinner, James Pocock and James Tully. The writings of Will Kymlicka, John Rawls, Chantal Mouffe, and Shane Phelan are referred to in the presentation and critique of the liberal tradition of thought. Hannah Arendt and Seyla Benhabib’s analysis of Arendt’s philosophy both address the problematic relations between human rights and nation-states as the main guarantors of rights. The chapter on group rights relies on Peter Jones’ account of corporate and collective rights, after which I continue to Seumas Miller’s essay on the (liberal) account of group rights and their relation to the concept of citizenship. Republicanism and Political Theory (2002) edited by Cécile Laborde and John Maynor is also references. David Miller and Maurizio Viroli represent the more “rooted” version of republicanism. The thesis argues that the full concept of citizenship should be seen as containing legal, political and social dimensions. The concept can be viewed from all of these three angles. The first means that citizenship is connected with certain rights, like the right to vote or stand for election, the right to property and so on. In most societies, the law guarantees these rights to every citizen. Then there is also the social dimension, which can be said to be as important as the legal one: the recognition of equality and identities of others. Finally, there is the political dimension, meaning the importance of citizens’ participation in the society, which is discussed in connection with the contemporary account of republicanism. All these issues are discussed from the point of view of groups demanding for group-specific rights and equal recognition. The challenge with these three aspects of citizenship is, however, that they are difficult to discuss under one heading. Different theories or discourses of citizenship each approach the subject from different starting points, which make reconciling them sometimes hard. The fundamental questions theories try to answer may differ radically depending on the theory. Nevertheless, in order to get the whole image of what the citizenship discourses are about all the aspects deserve to be taken into account.