Characteristics of credit risk assessment methods of major Nordic banks in allocating capital when extending credits to large corporations

Credit risk assessment is an integral part of banking. Credit risk means that the return will not materialise in case the customer fails to fulfil its obligations. Thus a key component of banking is setting acceptance criteria for granting loans. Theoretical part of the study focuses on key components of credit assessment methods of Banks in the literature when extending credits to large corporations. Main component is Basel II Accord, which sets regulatory requirement for credit risk assessment methods of banks. Empirical part comprises, as primary source, analysis of major Nordic banks’ annual reports and risk management reports. As secondary source complimentary interviews were carried out with senior credit risk assessment personnel. The findings indicate that all major Nordic banks are using combination of quantitative and qualitative information in credit risk assessment model when extending credits to large corporations. The relative input of qualitative information depends on the selected approach to the credit rating, i.e. point-in-time or through-the-cycle.

Creating a Performance Measurement System for Accounting Services of Large Paper Company

The main objective of this research is creating a performance measurement system for accounting services of a large paper industry company. In this thesis there are compared different performance measurement system and then selected two systems, which are presented and compared more detailed. Performance Prism system is the used framework in this research. Performance Prism using success maps to determining objectives. Model‟s target areas are divided into five groups: stakeholder satisfaction, stakeholder contribution, strategy, processes and capabilities. The measurement system creation began by identifying stakeholders and defining their objectives. Based on the objectives are created success map. Measures are created based on the objectives and success map. Then is defined needed data for measures. In the final measurement system, there are total just over 40 measures. Each measure is defined specific target level and ownership. Number of measures is fairly large, but this is the first version of the measurement system, so the amount is acceptable.

IT Financial Management In a Large Industrial Company

IT Service Management plays a key role in many IT organizations today. First IT Service Management principles founded in the early 1980s but the real adaption emerged in the end 2000s. IT Financial Management is one of IT Service Management’s processes. The main purpose of this thesis was study how IT Financial Management approach can be improved in a case company. Budgeting, accounting and charging are IT Financial Management functions. These functions are researched in this thesis. Thesis materials consist of both qualitative and quantitative material. The theoretical part consists mostly of IT Service Management literature while interviews and the case company’s information systems are researched in the empirical part. Thesis also reviews different kind of the systems which supports and automates IT Financial Management functions. The biggest challenge is the cost allocation with the current ERP system in the case company. It is worth to take group based system for allocation in use before there is a holistic system in a market. The case company should also develop its IT service processes forward.

Hazard Risk Management in Large Nordic Companies' Operations in Russia

The objective of this research was to describe how Nordic companies manage hazard risks in their operations in Russia and how the local business environment is considered to affect the hazard risks. Research methods used in this research were literature review and expert interviews. Twelve Nordic industrial companies operating in different fields of industry were interviewed. Large Nordic companies typically guide risk management centralized from the parent company on behalf of the whole company group and the risk management standards and policies are integrated in all subsidiaries. Parent companies typically control hazard risk management in Russia by regular risk management reporting, auditing the Russian sites and by training local managers and employees to risk management work. Many companies have experienced several losses in the first years of operating in Russia before the risk management policies have been implemented in Russian subsidiaries. The companies have learned to take local characteristics better into account by experience and most companies are quite satisfied with their current risk management standards in Russia. The interviews indicate that companies experience especially the poor quality of infrastructure, some features in Russian organizational culture and high level of criminality to increase hazard risks in Russia. However, understanding these features and risks in the business environment makes the management of these risks possible. Risks related to infrastructure can be managed in advance by decreasing dependencies of infrastructure and considering the infrastructure quality already when planning the business operations. Also good local network is often considered critical in order to overcome the complications related to infrastructure. Russian personnel has typically different attitude towards risk management than Nordic personnel and neglecting safety and maintenance and concealing losses is more typical in Russia. By training and guiding the local personnel risk management and safety work and desired ways of actions these risks can be decreased. Criminality risks are often managed to certain extent by investing in security, increasing supervising and paying attention to reliability of the employees and other interest groups of the company.

Design and characterization of large area position sensitive radiation detectors

Planar, large area, position sensitive silicon detectors are widely utilized in high energy physics research and in medical, computed tomography (CT). This thesis describes author's research work relating to development of such detector components. The key motivation and objective for the research work has been the development of novel, position sensitive detectors improving the performance of the instruments they are intended for. Silicon strip detectors are the key components of barrel-shaped tracking instruments which are typically the innermost structures of high energy physics experimental stations. Particle colliders such as the former LEP collider or present LHC produce particle collisions and the silicon strip detector based trackers locate the trajectories of particles emanating from such collisions. Medical CT has become a regular part of everyday medical care in all developed countries. CT scanning enables x-ray imaging of all parts of the human body with an outstanding structural resolution and contrast. Brain, chest and abdomen slice images with a resolution of 0.5 mm are possible and latest CT machines are able to image whole human heart between heart beats. The two application areas are presented shortly and the radiation detection properties of planar silicon detectors are discussed. Fabrication methods and preamplifier electronics of the planar detectors are presented. Designs of the developed, large area silicon detectors are presented and measurement results of the key operating parameters are discussed. Static and dynamic performance of the developed silicon strip detectors are shown to be very satisfactory for experimental physics applications. Results relating to the developed, novel CT detector chips are found to be very promising for further development and all key performance goals are met.

Marketers’ perception of the implementation of social media marketing: Evidence from large Finnish companies’ marketing campaigns

Social media is a multidimensional marketing and communications channel which can support and enhance a business’ reputation, sales and even longevity. Social media as a business tool encourages an interaction between customers and companies which gives opportunities for a company to better understand their customers, to target them more effectively and to collaborate and create dialogues with them which is not possible through traditional media channels. The aim of a social media strategy is to increase brand awareness, image, loyalty and recognition. The peer networks that social media creates allows a company to disseminate information through loyal customers to new and prospective customers to ultimately increase reach. The purpose of the study is to understand the marketer’s perspective of social media marketing use and how it is currently utilized in marketing and communications activities in Finland. Three companies were interviewed covering fourteen different implementations of social media marketing campaigns. These were then analysed to ascertain the utilization methods and experience gained on recent campaigns in the Finnish market The utilization of social media marketing was analysed using the methods of thematic analysis and inductive and abductive reasoning. Elements and themes were drawn out of the separate interviews to create a framework with which to explore, evaluate and match theories that define social media usage by companies. It became clear from all of the interviews that social media as a tool is most effective when it captures the viewer’s interest through rich and entertaining content. This directed the theoretical research towards Engagement Theory and Content Marketing which look to emphasize the importance of communities, collaboration, interaction, and peer-sharing as the key drivers of a social media marketing campaign.

The marketing communications industry in flux: Large B2C advertisers’ viewpoint

The recent digitization, fragmentation of the media landscape and consumers’ changing media behavior are all changes that have had drastic effects on creating marketing communications. In order to create effective marketing communications large advertisers are now co-operating with a variety of marketing communications companies. The purpose of the study is to understand how advertisers perceive these different companies and more importantly how do advertisers expect their roles to change in the future as the media landscape continues to evolve. Especially the changing roles of advertising agencies and media agencies are examined as they are at the moment the most relevant partners of the advertisers. However, the research is conducted from a network perspective rather than focusing on single actors of the marketing communications industry network. The research was conducted using a qualitative theme interview method. The empirical data was gathered by interviewing representatives from nine of the 50 largest Finnish advertisers measured by media spending. Thus, the research was conducted solely from large B2C advertisers’ perspective while the views of their other relevant actors of the network were left unexplored. The interviewees were chosen with a focus on variety of points of view. The analytical framework that was used to analyze the gathered data was built the IMP group’s industrial network model that consists of actors, their resources and activities. As technology driven media landscape fragmentation and consumers’ changing media behavior continue to increase the complexity of creating marketing communications, advertisers are going to need to rely on a growing number of partnerships as they see that the current actors of the network will not be able to widen their expertise to answer to these new needs. The advertisers expect to form new partnerships with actors that are more specialized and able to react and produce activities more quickly than at the moment. Thus, new smaller and more agile actors with looser structures are going to appear to fill these new needs. Therefore, the need of co-operation between the actors is going to become more important. These changes pose the biggest threat for traditional advertising agencies as they were seen as being most unable to cope with the ongoing change. Media agencies are in a more favorable position for remaining relevant for the advertisers as they will be able to justify their activities and provided value by leveraging their data handling abilities. In general the advertisers expect to be working with a limited number of close actors and in addition having a network of smaller actors, which are used on a more ad hoc basis.

Testing Platform Development for Large Scale Solar Integration

Currently, a high penetration level of Distributed Generations (DGs) has been observed in the Danish distribution systems, and even more DGs are foreseen to be present in the upcoming years. How to utilize them for maintaining the security of the power supply under the emergency situations, has been of great interest for study. This master project is intended to develop a control architecture for studying purposes of distribution systems with large scale integration of solar power. As part of the EcoGrid EU Smart Grid project, it focuses on the system modelling and simulation of a Danish representative LV network located in Bornholm island. Regarding the control architecture, two types of reactive control techniques are implemented and compare. In addition, a network voltage control based on a tap changer transformer is tested. The optimized results after applying a genetic algorithm to five typical Danish domestic loads are lower power losses and voltage deviation using Q(U) control, specially with large consumptions. Finally, a communication and information exchange system is developed with the objective of regulating the reactive power and thereby, the network voltage remotely and real-time. Validation test of the simulated parameters are performed as well.

Scaling up stepwise feature introduction to construction of large software systems

Developing software is a difficult and error-prone activity. Furthermore, the complexity of modern computer applications is significant. Hence,an organised approach to software construction is crucial. Stepwise Feature Introduction – created by R.-J. Back – is a development paradigm, in which software is constructed by adding functionality in small increments. The resulting code has an organised, layered structure and can be easily reused. Moreover, the interaction with the users of the software and the correctness concerns are essential elements of the development process, contributing to high quality and functionality of the final product. The paradigm of Stepwise Feature Introduction has been successfully applied in an academic environment, to a number of small-scale developments. The thesis examines the paradigm and its suitability to construction of large and complex software systems by focusing on the development of two software systems of significant complexity. Throughout the thesis we propose a number of improvements and modifications that should be applied to the paradigm when developing or reengineering large and complex software systems. The discussion in the thesis covers various aspects of software development that relate to Stepwise Feature Introduction. More specifically, we evaluate the paradigm based on the common practices of object-oriented programming and design and agile development methodologies. We also outline the strategy to testing systems built with the paradigm of Stepwise Feature Introduction.

Microcracks and Vortices in Superconducting Thin Films

In this work, superconducting YBa₂ Cu₃O_6+x (YBCO) thin films have been studied with the experimental focus on the anisotropy of BaZrO₃ (BZO) doped YBCOthin films and the theoretical focus on modelling flux pinning by numerically solving Ginzburg- Landau equations. Also, the structural properties of undoped YBCO thin films grown on NdGaO₃ (NGO) and MgO substrates were investigated. The thin film samples were made by pulsed laser ablation on single crystal substrates. The structural properties of the thin films were characterized by X-ray diffraction and atomic force microscope measurements. The superconducting properties were investigated with a magnetometer and also with transport measurements in pulsed magnetic field up to 30 T. Flux pinning was modelled by restricting the value of the order parameter inside the columnar pinning sites and then solving the Ginzburg-Landau equations numerically with the restrictions in place. The computations were done with a parallel code on a supercomputer. The YBCO thin films were seen to develop microcracks when grown on NGO or MgO substrates. The microcrack formation was connected to the structure of the YBCO thin films in both cases. Additionally, the microcracks can be avoided by careful optimization of the deposition parameters and the film thickness. The BZO doping of the YBCO thin films was seen to decrease the effective electron mass anisotropy, which was seen by fitting the Blatter scaling to the angle dependence of the upper critical field. The Ginzburg-Landau simulations were able to reproduce the measured magnetic field dependence of the critical current density for BZO doped and undoped YBCO. The simulations showed that in addition to the large density also the large size of the BZO nanorods is a key factor behind the change in the power law behaviour between BZO doped and undoped YBCO. Additionally, the Ginzburg-Landau equations were solved for type I thin films where giant vortices were seen to appear depending on the film thickness. The simulations predicted that singly quantized vortices are stable in type I films up to quite large thicknesses and that the size of the vortices increases with decreasing film thickness, in a way that is similar to the behaviour of the interaction length of Pearl vortices.

Challenges in managing large-scale agile software development transformation

Adapting and scaling up agile concepts, which are characterized by iterative, self-directed, customer value focused methods, may not be a simple endeavor. This thesis concentrates on studying challenges in a large-scale agile software development transformation in order to enhance understanding and bring insight into the underlying factors for such emerging challenges. This topic is approached through understanding the concepts of agility and different methods compared to traditional plan-driven processes, complex adaptive theory and the impact of organizational culture on agile transformational efforts. The empirical part was conducted by a qualitative case study approach. The internationally operating software development case organization had a year of experience of an agile transformation effort during it had also undergone organizational realignment efforts. The primary data collection was conducted through semi-structured interviews supported by participatory observation. As a result the identified challenges were categorized under four broad themes: organizational, management, team dynamics and process related. The identified challenges indicate that agility is a multifaceted concept. Agile practices may bring visibility in issues of which many are embedded in the organizational culture or in the management style. Viewing software development as a complex adaptive system could facilitate understanding of the underpinning philosophy and eventually solving the issues: interactions are more important than processes and solving a complex problem, such a novel software development, requires constant feedback and adaptation to changing requirements. Furthermore, an agile implementation seems to be unique in nature, and agents engaged in the interaction are the pivotal part of the success of achieving agility. In case agility is not a strategic choice for whole organization, it seems additional issues may arise due to different ways of working in different parts of an organization. Lastly, detailed suggestions to mitigate the challenges of the case organization are provided.

Invenio v2.0: A Pythonic Framework for Large-Scale Digital Libraries

Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

Large Scale Repository Auditing to ISO 16363

Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

Invenio v2.0: A Pythonic Framework for Large-Scale Digital Libraries

Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014