Integrating corporate responsbility into investor relations. Sustainability report as a part of investor relations.

Corporate responsibility is a question that many stakeholders are interested in. These stakeholders can be e.g. company’s employees, partners, clients, media or investors. Especially for listed companies, investors are one of the most important stakeholders. It is essential for a company to maintain the trust of current investors and gain the trust of potential investors. Investors cannot be divided only into two groups, individual and institutional investors. Investors differ a lot, especially when it comes to investment decisions. Investors can make their investment decisions based on many things, and strong financial performance is not necessarily good enough a reason. Socially responsible investors value responsibility and sustainability related factors when making investment decisions. These things can be divided into three dimensions: environmental, social and economic responsibility. Many companies disclose a sustainability report in order to be able to answer to the needs of different stakeholders, including investors. The purpose of this thesis was to study how companies integrate corporate responsibility into investor relations, and how sustainability report can be used in investor relations. Furthermore, this thesis examined the key elements of sustainability reports. The research was made by a qualitative study in two phases. In the first phase five representatives of two Finnish listed companies, KONE and Kesko were interviewed. The interviewees are professionals within investor relations and corporate responsibility communications. In the second phase of the study the sustainability reports of these two companies were analyzed with content analysis. The existing theory and the interviews created the base for the content analysis. This study suggests that there is a connection between corporate responsibility and investor relations, and those should be integrated. Socially responsible investors are an important target group for companies, and companies should be able to respond to their and other stakeholders’ needs. Sustainability report can be used as a tool both within the company and in external communication for these purposes.

CSR Reporting in the Finnish Banking Sector – Status and Recent Development

This thesis reviews the development of CSR reporting in the Finnish banking sector. This was achieved by analyzing the content of specific CSR reports published by three banks during years 2012-2014. The banks selected represent the three largest banks operating in Finland according to their market share, constituting approximately 70 percent of the total perceived market share. The purpose of the analysis is to establish a clear descriptive overview of the status of CSR reporting and how it has thematically developed over the years. The research was conducted with the qualitative content analysis method. By analyzing the contents of the CSR reports it was found that CSR reporting is understood in 3 different themes that reflect the general CSR theory: economic, social and environmental responsibility. The following research focused on analyzing these three core themes separately during years 2012-2014 in order to find specific tendencies in the development of CSR reporting. The results confirm that CSR reporting is developing in the Finnish banking sector. Reporting about economic responsibility is based on core financial performance reporting, and it’s mainly developing in the assessment of the global recession and how the potential fiscal reforms affect to the bank sector’s performance. Economic responsibility is also being understood and reported as a wider concept, including intertwined and shared meanings with the other responsibility reporting themes. The research also suggests that banks value social responsibility reporting increasingly each year. Environmental responsibility reporting is the most standardized form of reporting, however, the reporting development includes the increased use of digitalization as source of lessening the environmental impact.

Development of management accounting practices in energy operations in a forest industry Company

The aim of this master’s thesis was to map the management accounting processes and reporting of an internal service unit. The research was conducted in energy services in a forest industry company. Research questions and the results of the study are highly specific for the case unit although some generalizable features of management accounting in internal service units under shared services were searched. The research was carried out as a qualitative action research and a single case study. Internal benchmarking was used to find best practices from other units and to get a comprehensive understanding of the financial processes of the case company. Empirical data for the study was collected with participant observation, interviews of experts and by exploring internal company documents. A literature review was conducted to outline the subject and to support the study. Although the management accounting processes of the case unit were found to be on a good level, some improvement ideas were presented. Results of the research show that the needs of the customers are in the key role in the processes of an internal service unit. Management accounting and reporting need to support the company strategy and management decision-making. To evaluate the performance of the service unit both financial and non-financial measures are needed.

Development of business processes and sales reporting - Case recovered paper

The purpose of this research is to discover development points for business processes and sales reporting in the recovered paper sourcing organization. The processes under development are both sales and sourcing processes that were determined by the commissioning company. All of these processes have in common that there are used sales orders to organize the money flows correctly. Although the main objective is to source only recovered paper, the sourcing also brings by-products that cannot be utilized and are thus sold. As the purpose of the sales function is to only support the sourcing strategy, it should be organized as efficiently as possible. Investigating the current status of the processes and finding development points help in building proposals for enhanced process descriptions. In order that sales function could be analyzed, should the sales reporting be accurate and present the needed key figures. The current status of the processes as well as the possible problems and development ideas were researched with the help of interviews. Best practices could also be brought from other business lines in the commissioning company. The theory part was build according to relevant literature and scientific articles. The research indicates, that processes have shaped differently in sourcing organization’s business units. Local infrastructure and legislation sets certain limitations to the sourcing of recovered paper, and these circumstances cannot be changed. Customer-supplier power relations also affect to the formulation of business processes. In order to steer the processes, there has to be more internal controls. Still, the enterprise resource planning system also sets boundaries how the processes can be made more efficient.

Höyrytasetarkastelu kemianteollisuuden tehdasalueella

Tässä kandidaatintyössä perehdyttiin Kemira Chemicals Oy:n Sastamalan Äetsässä sijaitsevan tehdasalueen höyryverkkoon. Työn tavoitteena oli luoda selkeä kokonaiskuva höyryn tuotannosta ja kulutuksesta tehdasalueella. Työssä tutkittiin höyryverkon nykyisten mittauspisteiden kattavuutta ja suoritettiin höyrytasetarkastelu höyryverkostolle. Höyrytaseen tarkemmalla ymmärtämisellä helpotetaan mahdollisten energiatehokkuushankkeiden kohdentamista järkevästi. Työssä tarkasteltiin tehdasalueen höyryjärjestelmää siinä tarkkuudessa kuin se nykyisten mittausten dataa hyödyntäen on mahdollista. Laskennassa keskityttiin tarkastelemaan kokonaisuutta, ja erityisesti tuomaan esille merkittävimpiä höyrynkuluttajia. Päähöyrykattilan omakäyttöteho on huomattavan suuri syöttöveden merkittävän lämmitystarpeen johdosta. Tehtaista merkittävimmät höyryn kuluttajat ovat natriumkloraattitehdas (T III) ja hienokemikaalitehdas (T IV). Höyryverkkoa tarkasteltaessa luotiin myös uusi raportointipohja höyryn tuotannon ja kulutuksen tunnuslukujen seurantaan. Luotu raporttipohja hyödyntää saatavissa olevaa mittausdataa aiempaa tarkemmin ja laskenta on toteutettu mahdollisimman läpinäkyvästi. Mahdolliset höyrynkäytön tarkemmat selvitykset ja investoinnit esimerkiksi höyrymittauksiin kannattaa kohdentaa tehtaisiin T III ja T IV. Mikäli tulevaisuudessa halutaan muodostaa vetytase, helpottaa poltetun vedyn määrän seuranta luodussa raportointipohjassa taseen muodostamista.