45 resultados para investor protection.


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The most important knowledge in firms is mostly tacit and embedded in individuals within the organization. This background knowledge that firms possess is used for creation of new knowledge and innovations. As firms today greatly concentrate on their core competencies, they need external knowledge from various collaboration partners. Thus, collaborative relationship governance, as well as control (use of appropriability mechanisms) over background (the input from each firm in innovative activities) and foreground knowledge (the output of collaboration activities) is needed in order to successfully create and capture value from innovative activities without losing core knowledge and competitiveness. Even though research has concentrated on knowledge protection and knowledge sharing, studies that combine both of these views and examine the effects of sharing and protection on value creation and capture have been rather limited. Studies have mainly focused on the protection of the output of innovation while forgetting the protection of the input of innovation. On the other hand, as the research concentrating on the output of innovation tends to favor formal mechanisms, informal mechanisms have remained more unknown to researchers as well as managers. This research aims to combine the perspectives of knowledge sharing and knowledge protection and their relationship with value creation and value capture. The sharing and protection are viewed from two points of view: the use of appropriability mechanisms, as well as governance of the collaborative relationship. The study consists of two parts. The first part introduces the research topic and discusses the overall results. The second part comprises six complementary research publications. Both qualitative and quantitative research methods are used in the study. In terms of results, the findings enhance understanding of the combined use of formal and informal mechanisms for knowledge protection and sharing. Informal mechanisms appear to be emphasized in the protection of background knowledge, and thus are prerequisites for innovation, whereas formal mechanisms are relied on more for protecting the results of innovative activities. However, the simultaneous use of the formal and informal mechanisms that are relevant to the particular industry and innovation context is recommendedthroughout the collaborative innovation process. Further, the study adds to the current knowledge on HRM as an appropriability mechanism: on the firm level its uses include assessing and hedging against employee-related risks such as knowledge leaking and knowledge leaving. A further contribution is to the research on HRM protection and its interrelations with other appropriability mechanisms, its constituents, and its potential use in the area of knowledge protection.

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This research focuses on the link between quantitative sustainability disclosure and information asymmetry. It builds upon previous research which links information asymmetry with voluntary disclosure. Stakeholders from the financial services sector claim that sustainability disclosure needs to be more numerical and comparable between companies. This research covers 111 firms from Denmark, Finland, the Netherlands and Sweden from non-service industries and studies how quantitative their sustainability disclosure is, and whether or not there is a negative relation with information asymmetry. The results support the hypotheses, where two out of three information asymmetry proxies have a significant negative relation with quantitative disclosure. Size is supported as a moderating factor. Quantitativity also proves to have a significant link with third party sustainability ratings. The direct link between quantitativity and cost of capital is not however supported.

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Thesis talks about relay protection for microgrids. Microgrid operation sets more challenges than traditional utility grid protection because of lower fault current levels. Solutions for these challenges are discussed in this paper. Thesis also studies available relay protection solutions and figures out how they would fit for microgrid protection.

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14 x 23 cm

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14 x 22 cm

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14 x 22 cm

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14 x 22 cm

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The intellectual property (IP) environment in China is still very immature. There are several problems in legal, political, economic, social-cultural, competitive and labor environment which have hindered IP legal enforcement. Under such circumstances, IP misappropriation is a major concern especially for foreign small and medium-sized enterprises (SMEs) doing business in China. These circumstances require foreign companies, no matter whether they are multinational corporations (MNCs) or SMEs and have own manufacturing in China or not, to take strong IP actions. Therefore, the purpose of this study is to discuss how IP can be protected in China in the case of outsourcing and in the case of own manufacturing. The comparison will consider the process of outsourcing and own manufacturing consisting two stages: preparation stage and operation stage. In order to clarify the conceptual arguments, two illustrative case studies were studied. The case data bases on two semi-structured interviews of the managing directors, field notes and archival data. The findings propose that attention in IP protection should be given to following issues: integrating IP strategy into the company’s business strategy, protecting the most critical knowledge, regarding IP steps as a whole in the protection mechanism and making IP strategy as proactive as possible. The major difference between outsourcing and own manufacturing in IP protection is in the operation stage. Besides, the findings also provide managerial advice on IP protection, e.g. foreign managers should be prepared for IP risks in China, they should establish an own IP protection mechanism which matches the company’s situation and they should consider IP protection as an on-going process.

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This thesis examined both domestic and international forest investment options for a Finnish non-industrial private forest investor. The focus was on forest-based investment instruments. The influence of movements of currency exchange rates on foreign returns were also taken into account. Annual data from 1995 to 2011 was used. The main portfolio optimization model in this study was the Mean-Variance model but the results were also validated by using the Value at Risk and Expected Shortfall models. In addition, the exchange rate risk hedging was established by using one-week-maturity forward contracts. The results suggested that 75 % of the total wealth should be invested in Finnish private forests and the rest, 25 %, to a US REIT, in this case Rayonier. With hedging, the total return on the portfolio was 7.21 % (NIPF 5.3%) with the volatility of 6.63 % (NIPF 7.9%). Taxation supported US investments in this case. As a conclusion, a Finnish private forest investor may, as evidenced, benefit in diversifying a portfolio using REITs in the US.

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Denna avhandling tar sin utgångspunkt i ett ifrågasättande av effektiviteten i EU:s konditionalitetspolitik avseende minoritetsrättigheter. Baserat på den rationalistiska teoretiska modellen, External Incentives Model of Governance, syftar denna hypotesprövande avhandling till att förklara om tidsavståndet på det potentiella EU medlemskapet påverkar lagstiftningsnivån avseende minoritetsspråksrättigheter. Mätningen av nivån på lagstiftningen avseende minoritetsspråksrättigheter begränsas till att omfatta icke-diskriminering, användning av minoritetsspråk i officiella sammanhang samt minoriteters språkliga rättigheter i utbildningen. Metodologiskt används ett jämförande angreppssätt både avseende tidsramen för studien, som sträcker sig mellan 2003 och 2010, men även avseende urvalet av stater. På basis av det \"mest lika systemet\" kategoriseras staterna i tre grupper efter deras olika tidsavstånd från det potentiella EU medlemskapet. Hypotesen som prövas är följande: ju kortare tidsavstånd till det potentiella EU medlemskapet desto större sannolikhet att staternas lagstiftningsnivå inom de tre områden som studeras har utvecklats till en hög nivå. Studien visar att hypotesen endast bekräftas delvis. Resultaten avseende icke-diskriminering visar att sambandet mellan tidsavståndet och nivån på lagstiftningen har ökat markant under den undersökta tidsperioden. Detta samband har endast stärkts mellan kategorin av stater som ligger tidsmässigt längst bort ett potentiellt EU medlemskap och de två kategorier som ligger närmare respektive närmast ett potentiellt EU medlemskap. Resultaten avseende användning av minoritetsspråk i officiella sammanhang och minoriteters språkliga rättigheter i utbildningen visar inget respektive nästan inget samband mellan tidsavståndet och utvecklingen på lagstiftningen mellan 2003 och 2010.

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Bullying can be viewed as goal-oriented behavior in the strive for dominance and prestige in the peer group (Salmivalli, 2010). To ensure the effectiveness of their power demonstrations, bullies often choose targets from among their vulnerable peers (Salmivalli, 2010; Veenstra et al., 2007). A large number of studies have also shown that victimization has severe consequences for the victims’ psychosocial adjustment (Reijntjes, Kamphuis, Prinzie, & Telch, 2010; Ttofi, Farrington, Lösel, & Loeber, 2011). In this thesis I investigate – based on three empirical studies – whether similar dynamics on the risk factors and consequences apply to same- and other-sex victimization. In the empirical studies, we used the data from the randomized control trial of the KiVa antibullying program for the elementary school grades 4–6 (2007–2008), and for the middle school grades 7–9 (2008–2009). We measured same- and other-sex victimization, and victims’ defending relationships by dyadic questions: “By which classmates are you victimized?” and “By which classmates are you supported, comforted, or defended?” In addition, we used self-reports and peer reports to measure adjustment and social status. The findings imply that other-sex victimization may be challenging for antibullying work. First, although targets of bullying seemed to be selected from among vulnerable peers for the most part, perceived popularity increased the risks of other-sex victimization. Popularity of these victims may falsely lead to an impression that the victims are doing well. Second, the consequences considering victims’ later psychosocial adjustment were alarming concerning girls bullied by boys. Thus, despite the fact that the targets may be perceived as popular, other-sex victimization can have even more severe consequences than same-sex victimization. Third, we found that defending relationships were mostly same-sex relationships, and consequently, we may ask whether defending is effective against other-sex bullies. Finally, the KiVa antibullying program was less effective against other-sex victimization in the adolescent sample. The findings altogether emphasize the importance of taking into account the sex composition of the bully-victim dyad, both considering future research on bullying and in the antibullying work with children and adolescents.

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Tässä diplomityössä tutkittiin vaihtoehtoja tehoelektroniikkalaitteiden kotelointiluokan kehittämiseksi. Haasteena paremman suojauksen suunnittelussa on laitteiden tuottama suuri määrä lämpöä, joka vaatii tehokkaan jäähdytyksen. Työn tuloksena saatu prototyyppi IP33 luokkaa varten täyttää standardissa SFS-EN 60529+A1 asetetut vaatimukset kyseiselle kotelointiluokalle. Rakenteessa ja valmistettavuudessa havaittiin muutama ongelma, jotka ovat korjattavissa pienillä muutoksilla. Korkeampia suojausluokkia varten testattiin IP54-luokiteltujen filtterituulettimien vaikutusta laitteen jäähdytykseen. Testien perusteella jäähdytysteho on riittävä ja filtterituulettimet todettiin toimivaksi ratkaisuksi korkeammille suojausluokille. Työn perusteella voidaan todeta, että nykyiset laitteet voidaan muokata vastaamaan IP33 luokan vaatimuksia kohtuullisen pienillä muutoksilla. Tätä korkeammat suojausluokat vaatisivat niin suuria muutoksia designiin, että todennäköisesti täysin uuden laitteen suunnittelu olis kannattavin vaihtoehto.

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A postgraduate seminar series with a title Critical Infrastructure Protection against Cyber Threats held at the Department of Military Technology of the National Defence University in the fall of 2013 and 2014. This book is a collection of some of talks that were presented in the seminar. The papers address origin of critical infrastructure protection, wargaming cyberwar in critical infrastructure defence, cyber-target categorization, supervisory control and data acquisition systems vulnerabilities, electric power as critical infrastructure, improving situational awareness of critical infrastructure and trust based situation awareness in high security cloud environment. This set of papers tries to give some insight to current issues of the network-centric critical infrastructure protection. The seminar has always made a publication of the papers but this has been an internal publication of the Finnish Defence Forces and has not hindered publication of the papers in international conferences. Publication of these papers in peer reviewed conferences has indeed been always the goal of the seminar, since it teaches writing conference level papers. We still hope that an internal publication in the department series is useful to the Finnish Defence Forces by offering an easy access to these papers.