The Media and the Academic Globalization Debate : Theoretical Analysis and Critique

This study offers a reconstruction and critical evaluation of globalization theory, a perspective that has been central for sociology and cultural studies in recent decades, from the viewpoint of media and communications. As the study shows, sociological and cultural globalization theorists rely heavily on arguments concerning media and communications, especially the so-called new information and communication technologies, in the construction of their frameworks. Together with deepening the understanding of globalization theory, the study gives new critical knowledge of the problematic consequences that follow from such strong investment in media and communications in contemporary theory. The book is divided into four parts. The first part presents the research problem, the approach and the theoretical contexts of the study. Followed by the introduction in Chapter 1, I identify the core elements of globalization theory in Chapter 2. At the heart of globalization theory is the claim that recent decades have witnessed massive changes in the spatio-temporal constitution of society, caused by new media and communications in particular, and that these changes necessitate the rethinking of the foundations of social theory as a whole. Chapter 3 introduces three paradigms of media research the political economy of media, cultural studies and medium theory the discussion of which will make it easier to understand the key issues and controversies that emerge in academic globalization theorists treatment of media and communications. The next two parts offer a close reading of four theorists whose works I use as entry points into academic debates on globalization. I argue that we can make sense of mainstream positions on globalization by dividing them into two paradigms: on the one hand, media-technological explanations of globalization and, on the other, cultural globalization theory. As examples of the former, I discuss the works of Manuel Castells (Chapter 4) and Scott Lash (Chapter 5). I maintain that their analyses of globalization processes are overtly media-centric and result in an unhistorical and uncritical understanding of social power in an era of capitalist globalization. A related evaluation of the second paradigm (cultural globalization theory), as exemplified by Arjun Appadurai and John Tomlinson, is presented in Chapter 6. I argue that due to their rejection of the importance of nation states and the notion of cultural imperialism for cultural analysis, and their replacement with a framework of media-generated deterritorializations and flows, these theorists underplay the importance of the neoliberalization of cultures throughout the world. The fourth part (Chapter 7) presents a central research finding of this study, namely that the media-centrism of globalization theory can be understood in the context of the emergence of neoliberalism. I find it problematic that at the same time when capitalist dynamics have been strengthened in social and cultural life, advocates of globalization theory have directed attention to media-technological changes and their sweeping socio-cultural consequences, instead of analyzing the powerful material forces that shape the society and the culture. I further argue that this shift serves not only analytical but also utopian functions, that is, the longing for a better world in times when such longing is otherwise considered impracticable.

E-learning in a rural context: Alternative media and contemporary applications

This report has been written as part of the E-ruralnet –project that addresses e-learning as a means for enhancing lifelong learning opportunities in rural areas, with emphasis on SMEs, micro-enterprises, self-employed and persons seeking employment. E-ruralnet is a European network project part-funded by the European Commission in the context of the Lifelong Learning Programme, Transversal projects-ICT. This report aims to address two issues identified as requiring attention in the previous Observatory study: firstly, access to e-learning for rural areas that have not adequate ICT infrastructure; and secondly new learning approaches introduced through new interactive ICT tools such as web 2.0., wikis, podcasts etc. The possibility of using alternative technology in addition to computers is examined (mobile telephones, DVDs) as well as new approaches to learning (simulation, serious games). The first part of the report examines existing literature on e-learning and what e-learning is all about. Institutional users, learners and instructors/teachers are all looked at separately. We then turn to the implementation of e-learning from the organizational point of view and focus on quality issues related to e-learning. The report includes a separate chapter or e-learning from the rural perspective since most of Europe is geographically speaking rural and the population in those areas is that which could most benefit from the possibilities introduced by the e-learning development. The section titled “Alternative media”, in accordance with the project terminology, looks at standalone technology that is of particular use to rural areas without proper internet connection. It also evaluates the use of new tools and media in e-learning and takes a look at m-learning. Finally, the use of games, serious games and simulations in learning is considered. Practical examples and cases are displayed in a box to facilitate pleasant reading.

Essays on Platforms: Business Strategies, Regulation and Policy in Telecommunications, Media and Technology Industries

The growth of the information economy has been stellar in the last decade. General-purpose technologies such as the computer and the Internet have promoted productivity growth in a large number of industries. The effect on telecommunications, media and technology industries has been particularly strong. These industries include mobile telecommunications, printing and publishing, broadcasting, software, hardware and Internet services. There have been large structural changes, which have led to new questions on business strategies, regulation and policy. This thesis focuses on four such questions and answers them by extending the theoretical literature on platforms. The questions (with short answers) are: (i) Do we need to regulate how Internet service providers discriminate between content providers? (Yes.) (ii) What are the welfare effects of allowing consumers to pay to remove advertisements from advertisement-supported products?(Ambiguous, but those watching ads are worse off.) (iii) Why are some markets characterized by open platforms, extendable by third parties, and some by closed platforms, which are not extendable? (It is a trade-off between intensified competition for consumers and benefits from third parties) (iv) Do private platform providers allow third parties to access their platform when it is socially desirable? (No.)

Conditionally One of 'Us' : A Study of Print Media, Minorities and Positioning Practices

This study deals with how ethnic minorities and immigrants are portrayed in the Finnish print media. The study also asks how media users of various ethnocultural backgrounds make sense of these mediated stories. A more general objective is to elucidate negotiations of belonging and positioning practices in an increasingly complex society. The empirical part of the study is based on content analysis and qualitative close reading of 1,782 articles in five newspapers (Hufvudstadsbladet, Vasabladet, Helsingin Sanomat, Iltalehti and Ilta-Sanomat) during various research periods between 1999 and 2007. Four case studies on print media content are followed up by a focus group study involving 33 newspaper readers of Bosnian, Somalian, Russian, and 'native' Finnish backgrounds. The study draws from different academic and intellectual traditions; mainly media and communication studies, sociology and social psychology. The main theoretical framework employed is positioning theory, as developed by Rom Harré and others. Building on this perspective, situational self-positioning, positioning by others, and media positioning are seen as central practices in the negotiation of belonging. In support of contemporary developments in social sciences, some of these negotiations are seen as occurring in a network type of communicative space. In this space, the media form one of the most powerful institutions in constructing, distributing and legitimising values and ideas of who belongs to 'us', and who does not. The notion of positioning always involves an exclusionary potential. This thesis joins scholars who assert that in order to understand inclusionary and exclusionary mechanisms, the theoretical starting point must be a recognition of a decent and non-humiliating society. When key insights are distilled from the five empirical cases and related to the main theories, one of the major arguments put forward is that the media were first and foremost concerned with a minority actor's rightful or unlawful belonging to the Finnish welfare system. However, in some cases persistent stereotypes concerning some immigrant groups' motivation to work, pay taxes and therefore contribute are so strong that a general idea of individualism is forgotten in favour of racialised and stagnated views. Discussants of immigrant background also claim that the positions provided for minority actors in the media are not easy to identify with; categories are too narrow, journalists are biased, the reporting is simplifying and carries labelling potential. Hence, although the will for the communicative space to be more diverse and inclusive exists — and has also in many cases been articulated in charters, acts and codes — the positioning of ethnic minorities and immigrants differs significantly from the ideal.

Rethinking Media Pluralism : A Critique of Theories and Policy Discourses

This study examines different ways in which the concept of media pluralism has been theorized and used in contemporary media policy debates. Access to a broad range of different political views and cultural expressions is often regarded as a self-evident value in both theoretical and political debates on media and democracy. Opinions on the meaning and nature of media pluralism as a theoretical, political or empirical concept, however, are many, and it can easily be adjusted to different political purposes. The study aims to analyse the ambiguities surrounding the concept of media pluralism in two ways: by deconstructing its normative roots from the perspective of democratic theory, and by examining its different uses, definitions and underlying rationalities in current European media policy debates. The first part of the study examines the values and assumptions behind the notion of media pluralism in the context of different theories of democracy and the public sphere. The second part then analyses and assesses the deployment of the concept in contemporary European policy debates on media ownership and public service media. Finally, the study critically evaluates various attempts to create empirical indicators for measuring media pluralism and discusses their normative implications and underlying rationalities. The analysis of contemporary policy debates indicates that the notion of media pluralism has been too readily reduced to an empty catchphrase or conflated with consumer choice and market competition. In this narrow technocratic logic, pluralism is often unreflectively associated with quantitative data in a way that leaves unexamined key questions about social and political values, democracy, and citizenship. The basic argument advanced in the study is that media pluralism needs to be rescued from its depoliticized uses and re-imagined more broadly as a normative value that refers to the distribution of communicative power in the public sphere. Instead of something that could simply be measured through the number of media outlets available, the study argues that media pluralism should be understood in terms of its ability to challenge inequalities in communicative power and create a more democratic public sphere.

News Media, Crime and Fear of Violence

Finland witnessed a surge in crime news reporting during the 1990s. At the same time, there was a significant rise in the levels of fear of crime reported by surveys. This research examines whether and how the two phenomena: news media and fear of violence were associated with each other. The dissertation consists of five sub-studies and a summary article. The first sub-study is a review of crime reporting trends in Finland, in which I have reviewed prior research and used existing Finnish datasets on media contents and crime news media exposure. The second study examines the association between crime media consumption and fear of crime when personal and vicarious victimization experiences have been held constant. Apart from analyzing the impact of crime news consumption on fear, media effects on general social trust are analyzed in the third sub-study. In the fourth sub-study I have analyzed the contents of the Finnish Poliisi-TV programme and compared the consistency of the picture of violent crime between official data sources and the programme. In the fifth and final sub-study, the victim narratives of Poliisi-TV s violence news contents have been analyzed. The research provides a series of results which are unprecedented in Finland. First, it observes that as in many other countries, the quantity of crime news supply has increased quite markedly in Finland. Second, it verifies that exposure to crime news is related to being worried about violent victimization and avoidance behaviour. Third, it documents that exposure to TV crime reality-programming is associated with reduced social trust among Finnish adolescents. Fourth, the analysis of Poliisi-TV shows that it transmits a distorted view of crime when contrasted with primary data sources on crime, but that this distortion is not as big as could be expected from international research findings and epochal theories of sociology. Fifth, the portrayals of violence victims in Poliisi-TV do not fit the traditional ideal types of victims that are usually seen to dominate crime media. The fact that the victims of violence in Poliisi-TV are ordinary people represents a wider development of the changing significance of the crime victim in Finland. The research concludes that although the media most likely did have an effect on the rising public fears in the 1990s, the mechanism was not as straight forward as has often been claimed. It is likely that there are other factors in the fear-media equation that are affecting both fear levels and crime reporting and that these factors are interactive in nature. Finally, the research calls for a re-orientation of media criminology and suggests more emphasis on the positive implications of crime in the media. Keywords: crime, media, fear of crime, violence, victimization, news

Light scattering in random media with wavelength-scale structures : astronomical and industrial applications

Light scattering, or scattering and absorption of electromagnetic waves, is an important tool in all remote-sensing observations. In astronomy, the light scattered or absorbed by a distant object can be the only source of information. In Solar-system studies, the light-scattering methods are employed when interpreting observations of atmosphereless bodies such as asteroids, atmospheres of planets, and cometary or interplanetary dust. Our Earth is constantly monitored from artificial satellites at different wavelengths. With remote sensing of Earth the light-scattering methods are not the only source of information: there is always the possibility to make in situ measurements. The satellite-based remote sensing is, however, superior in the sense of speed and coverage if only the scattered signal can be reliably interpreted. The optical properties of many industrial products play a key role in their quality. Especially for products such as paint and paper, the ability to obscure the background and to reflect light is of utmost importance. High-grade papers are evaluated based on their brightness, opacity, color, and gloss. In product development, there is a need for computer-based simulation methods that could predict the optical properties and, therefore, could be used in optimizing the quality while reducing the material costs. With paper, for instance, pilot experiments with an actual paper machine can be very time- and resource-consuming. The light-scattering methods presented in this thesis solve rigorously the interaction of light and material with wavelength-scale structures. These methods are computationally demanding, thus the speed and accuracy of the methods play a key role. Different implementations of the discrete-dipole approximation are compared in the thesis and the results provide practical guidelines in choosing a suitable code. In addition, a novel method is presented for the numerical computations of orientation-averaged light-scattering properties of a particle, and the method is compared against existing techniques. Simulation of light scattering for various targets and the possible problems arising from the finite size of the model target are discussed in the thesis. Scattering by single particles and small clusters is considered, as well as scattering in particulate media, and scattering in continuous media with porosity or surface roughness. Various techniques for modeling the scattering media are presented and the results are applied to optimizing the structure of paper. However, the same methods can be applied in light-scattering studies of Solar-system regoliths or cometary dust, or in any remote-sensing problem involving light scattering in random media with wavelength-scale structures.

Lähi-itä - mielikuvat, media ja konflikti : Tutkimuskohteena opettajaopiskelijat

This study examines Finnish student teachers' images of The Middle East conflict and its parties and medias' influence on these images. The research problems are 1) how student teachers understand the Middle East as a geographical and a cultural area 2) what kind of conceptions they have of the Middle East conflict and its parties; Israelis, Palestinians and Arabs and societies and religions closely connected to them and 3) how the media has influenced on these conceptions. Theoretical background of this study concerns with different mental images, their construction and meaning, stereotypes, intercultural competence, media and its influence as well as media literacy. The methods used in this study were survey and theme interview. Also headlines of the news were analysed. The survey was directed at student teachers of the University of Helsinki (n = 75). Six of them were interviewed. The survey was conducted in February and interviews were made in the turn of May and June 2003. The headlines analysed dealt with the Middle East conflict in the newspaper "Helsingin Sanomat" in January, April and July 2003. Main results: Images of the Middle East area differed largely from respondent to another. Student teachers didn't know much about the Middle East conflict. Stereotypes occurred in the conceptions connected to the parties of the conflict. Stereotypes appeared especially in the negative conceptions of islam and muslims and one-sided conceptions of Arabs. The influence of the conflict was noticeable in conceptions related to Israelis, Israel and Palestinians. Palestinians were sympathized. Attitudes towards Israelis, Palestinians and Arabs were negative to some extend and their societies were not valued very equal, open or modern. On the basis of the research, student teachers' intercultural competence was not good enough. Media had influence on the conceptions. Also skills in critical use of media varied largely. Some trusted strongly in the objectivity of a picture and the news. It can be argued, on the grounds of the results, that teacher education should concentrate more on themes of intercultural competence and media literacy. These two are interrelated and are both needed in understanding and conceptualising the world.

A Success Story or a Failure? : Representing the European Integration in the Curricula and Textbooks of Five Countries

The economic, political and social face of Europe has been changing rapidly in the past decades. These changes are unique in the history of Europe, but not without challenges for the nation states. The support for the European integration varies among the countries. In order to understand why certain developments or changes are perceived as threatening or as desired by different member countries, we must consider the social representations of the European integration on the national level: how the EU is represented to its citizens in media and in educational systems, particularly in the curricula and textbooks. The current study is concerned with the social representations of the European integration in the curricula and school textbooks in five European countries: France, Britain, Germany, Finland and Sweden. Besides that, the first volume of the common Franco-German history textbook was analyzed, since it has been seen as a model for a common European history textbook. As the collective representations, values and identities are dominantly mediated and imposed through media and educational systems, the national curricula and textbooks make an interesting starting point for the study of the European integration and of national and European identities. The social representations theory provides a comprehensive framework for the study of the European integration. By analyzing the curricula and history and civics textbooks of major educational publishers, the study aimed to demonstrate what is written on the European integration and how it is portrayed how the European integration is understood, made familiar and concretized in the educational context in the five European countries. To grasp the phenomenon of the European integration in the textbooks in its entirety, it was investigated from various perspectives. The two analysis methods of content analysis, the automatic analysis with ALCESTE and a more qualitative theory-driven content analysis, were carried out to give a more vivid and multifaceted picture of the object of the research. The analysis of the text was complemented with the analysis of visual material. Drawing on quantitative and qualitative methods, the contents, processes, visual images, transformations and structures of the social representations of European integration, as well as the communicative styles of the textbooks were examined. This study showed the divergent social representations of the European integration, anchored in the nation states, in the five member countries of the European Union. The social representations were constructed around different central core elements: French Europe in the French textbooks, Ambivalent Europe in the British textbooks, Influential and Unifying EU in the German textbooks, Enabling and Threatening EU in the Finnish textbooks, Sceptical EU in the Swedish textbooks and EU as a World Model in the Franco-German textbook. Some elements of the representations were shared by all countries such as peace and economic aspects of the European cooperation, whereas other elements of representations were found more frequently in some countries than in others, such as ideological, threatening or social components of the phenomenon European integration. The study also demonstrated the linkage between social representations of the EU and national and European identities. The findings of this study are applicable to the study of the European integration, to the study of education, as well as to the social representation theory.

Lapset, media ja symbolinen vuorovaikutus : Suomalaisten, englantilaisten ja saksalaisten lasten mediasuhteen tarkastelua

Tämän hetken mediaympäristölle on ominaista intensiivisyys ja jatkuva läsnäolo. Medialla on merkittävä rooli myös pienten lasten jokapäiväisessä elämässä, sillä he aloittavat median säännöllisen seuraamisen keskimäärin kolmen vuoden iässä. Mediasisällöt, mediavälineet ja mediaan liittyvät sosiaaliset suhteet muodostavatkin lapsille mediaympäristön, jossa lapset rakentavat identiteettejään, oppivat sosiaalista kanssakäymistä ja kehittävät näkemyksiään yhteiskunnasta ja kulttuurista. Tutkimuksessa on selvitetty 4-6-vuotiaitten suomalaisten, englantilaisten ja saksalaisten lasten audiovisuaalisen median tulkintaa ja median roolia heidän elämässään. Tutkimuksen tavoitteena on ollut syventää tutkimuksellista tietoa median sosiaalisesta ja kulttuurisesta merkityksestä pienten lasten elämässä ja sitä, miten he tulkitsevat mediasisältöä. Tutkimuksessa lasten mediasuhdetta on tarkasteltu välineellisenä, sosiaalisena, symbolisena ja kulttuurisena tulkintaympäristönä. Edellisten lisäksi tutkimuksessa on arvioitu harvemmin viestinnän tutkimuksessa käytetyn symbolisen interaktionismin teorian tarjoamia mahdollisuuksia lasten mediasuhteen tarkasteluun. Suomessa, Englannissa ja Saksassa kootun kansainvälisen aineiston pohjalta on tarkasteltu myös vertailuryhmien välillä olevia mediaan liittyviä kulttuurisia eroja. Eri vertailumaiden melko samankaltaisesta mediaympäristöstä huolimatta tutkimus antaa viitteitä mediatulkinnoissa olevista kulttuurisista eroista. Media mahdollistaa lapsen erilaistan taitojensa kehittymistä ja voi siten muodostaa heille sosiaalisia, symbolisia ja kulttuurisia resursseja, joilla on merkitystä lapsen kehittymisen kannalta. Lapsen ja median suhde on kaksisuuntainen vuorovaikutussuhde ja mediainformaation tulkinnassa ovat mukana lapsen aiemmat tiedolliset ja sosiaaliset kokemukset. Aktiivisessa mediatulkintasuhteessaan lapsi kehittää sanavarastoaan, havainnointiaan, ajatteluaan ja tunne-elämäänsä. Median käyttö sosiaalisena tapahtumana kehittää osaltaan lapsen sosiaalisia valmiuksia. Siten esimerkiksi perheen median käyttöön liittyvät säännöt ja ohjeet ohjaavat perheen sisäistä toimintaa ja määrittävät lapsen asemaa perheessä. Median sisällöt ja niihin liittyvät erilaiset oheistuotteet toimivat osaltaan lapsen kulttuuristen koodistojen ja luokittelujen muodostajana. Tutkimus osoittaa myös symbolisen interaktionismin teorian tarjoavan varsin poikkitieteellisen tutkimuksellisen viitekehyksen lapsia ja mediaa koskevalle tutkimukselle ja mahdollistaa lasten mediasuhteen tutkimisen ja ymmärtämisen useiden, erilaisten tekijöiden suhteena.

Why Do Russians Support Censorship of the Media?

This article analyses support for censorship in Russia as part of the democratization process. Censorship has been an important part of Russian history and it was strengthened during the Soviet era. After the collapse of the Soviet system formal censorship was banned even though the reality has been different. Therefore it is not strange that many Russians would like to limit the freedom of the media and to censor certain topics. The views of Russians on censorship have been studied on the basis of a survey carried out in 2007. According to the results, three different dimensions of censorship were found. These dimensions include moral censorship, political censorship, and censorship of religious materials. Support for these dimensions varies on the basis of socio-demographic characteristics and media use. The article concludes that many Russians reject new phenomena, while support for the censorship of political criticism is not as high, but political censorship seems to enjoy more support among elites than among the common people.

Words as Events : Cretan Mantinádes in Performance and Composition

Words as Events introduces the tradition of short, communicative rhyming couplets, the mantinádes, which are still sung and recited in a variety of performance situations on the island of Crete. The local focus on communicative economy and artistry is further examined in an in-depth analysis of the processes and ideals of composition. Short genres of oral poetry have been widely neglected in folklore research; however, their demand for structural and semantic coherence as well as their dialogic nature appeals to very different human needs from those of the longer poems. In contemporary Crete, poems also appear in written contexts, they are submitted to modern mass media, and people widely exchange them as text messages. By striving to understand the tradition during a period of change, this study analyzes the larger principles that ground the communication, self-expression and creativity in the genre. The aim of this research is thus twofold: to present this specific register of dialogic oral poetry as well as to create a theoretical approach sensitive to the creativity of such short registers. The study is based on long-term ethnographic fieldwork conducted in Crete between the years 1997 2009. An important aspect of the methodology was to create long-term ties with a number of key-informants who composed mantinádes. The interdisciplinary theoretical and methodological basis for this analysis is in the contemporary Finnish and international research on oral poetry and on anthropological research on communicative speech genres. These theoretical insights are extended by addressing questions of spontaneity and individual agency. Since mantinádes are at the same time a model for composition and a reserve of poems in fixed form, the aesthetics and objectives of performance and composition are also plural. In a traditional singing event, the basic motivation for the singers is to provide a meaningful contribution to a selected theme, which is the shared topic of the poetic dialogue. Consequently, similar topics giving rise to poetic associations can be encountered during various moments of everyday life: the dialogic nature is embodied in the tradition to such degree that it also arises in the performances and composition of single poems and outside of any institutionalized performance arenas. Therefore, as this study discusses in detail, even the apparently non-contextualized poems recited between locals or occurring in the contemporary mass media arenas, are understood and evaluated as utterances that provide an individual perspective within a certain dialogue.

Social Media as a Form of Organizational Knowledge Sharing

This study investigates the role of social media as a form of organizational knowledge sharing. Social media is investigated in terms of the Web 2.0 technologies that organizations provide their employees as tools of internal communication. This study is anchored in the theoretical understanding of social media as technologies which enable both knowledge collection and knowledge donation. This study investigates the factors influencing employees’ use of social media in their working environment. The study presents the multidisciplinary research tradition concerning knowledge sharing. Social media is analyzed especially in relation to internal communication and knowledge sharing. Based on previous studies, it is assumed that personal, organizational, and technological factors influence employees’ use of social media in their working environment. The research represents a case study focusing on the employees of the Finnish company Wärtsilä. Wärtsilä represents an eligible case organization for this study given that it puts in use several Web 2.0 tools in its intranet. The research is based on quantitative methods. In total 343 answers were obtained with the aid of an online survey which was available in Wärtsilä’s intranet. The associations between the variables are analyzed with the aid of correlations. Finally, with the aid of multiple linear regression analysis the causality between the assumed factors and the use of social media is tested. The analysis demonstrates that personal, organizational and technological factors influence the respondents’ use of social media. As strong predictive variables emerge the benefits that respondents expect to receive from using social media and respondents’ experience in using Web 2.0 in their private lives. Also organizational factors such as managers’ and colleagues’ activeness and organizational guidelines for using social media form a causal relationship with the use of social media. In addition, respondents’ understanding of their responsibilities affects their use of social media. The more social media is considered as a part of individual responsibilities, the more frequently social media is used. Finally, technological factors must be recognized. The more user-friendly social media tools are considered and the better technical skills respondents have, the more frequently social media is used in the working environment. The central references in relation to knowledge sharing include Chun Wei Choo’s (2006) work Knowing Organization, Ikujiro Nonaka and Hirotaka Takeuchi’s (1995) work The Knowledge Creating Company and Linda Argote’s (1999) work Organizational Learning.

Essays on Stock Options, Incentives, and Managerial Action

Executive compensation and managerial behavior have received an increasing amount of attention in the financial economics literature since the mid 1970s. The purpose of this thesis is to extend our understanding of managerial compensation, especially how stock option compensation is linked to the actions undertaken by the management. Furthermore, managerial compensation is continuously and heatedly debated in the media and an emerging consensus from this discussion seems to be that there still exists gaps in our knowledge of optimal contracting. In Finland, the first executive stock options were introduced in the 1980s and throughout the last 15 years it has become increasingly popular for Finnish listed firms to use this type of managerial compensation. The empirical work in the thesis is conducted using data from Finland, in contrast to most previous studies that predominantly use U.S. data. Using Finnish data provides insight of how market conditions affect compensation and managerial action and provides an opportunity to explore what parts of the U.S. evidence can be generalized to other markets. The thesis consists of four essays. The first essay investigates the exercise policy of the executive stock option holders in Finland. In summary, Essay 1 contributes to our understanding of the exercise policies by examining both the determinants of the exercise decision and the markets reaction to the actual exercises. The second essay analyzes the factors driving stock option grants using data for Finnish publicly listed firms. Several agency theory based variables are found to have have explanatory power on the likelihood of a stock option grant. Essay 2 also contributes to our understanding of behavioral factors, such as prior stock return, as determinants of stock option compensation. The third essay investigates the tax and stock option motives for share repurchases and dividend distributions. We document strong support for the tax motive for share repurchases. Furthermore, we also analyze the dividend distribution decision in companies with stock options and find a significant difference between companies with and without dividend protected options. We thus document that the cutting of dividends found in previous U.S. studies can be avoided by dividend protection. In the fourth essay we approach the puzzle of negative skewness in stock returns from an altogether different angle than in previous studies. We suggest that negative skewness in stock returns is generated by management disclosure practices and find proof for this. More specifically, we find that negative skewness in daily returns is induced by returns for days when non-scheduled firm specific news is disclosed.