Travels in various countries of Europe, Asia and Africa : Part the third : Scandinavia : Section the second : by Edward Daniel Clarke.

Digital reproduction, The National Library of Finland, Centre for Preservation and Digitisation, Mikkeli

Letters from Scandinavia, : on the past and present state of the northern nations of Europe : [William Thomson]. Vol. I[-II].

Digital reproduction, The National Library of Finland, Centre for Preservation and Digitisation, Mikkeli

Travels in various countries of Europe, Asia and Africa : Part the third : Scandinavia : Section the first : by Edward Daniel Clarke.

Digital reproduction, The National Library of Finland, Centre for Preservation and Digitisation, Mikkeli

Letters from Scandinavia, : on the past and present state of the northern nations of Europe : [William Thomson]. Vol. I[-II].

Digital reproduction, The National Library of Finland, Centre for Preservation and Digitisation, Mikkeli

The effect of institutional settings on accounting conservatism – Empirical evidence from the Nordic countries and the transitional economies of Europe

The purpose of the dissertation is to investigate how different institutional settings affect accounting conservatism. These aspects are of interest because prior studies show that accounting quality is influenced not only by accounting standards, but also by incentives from the financial reporting environment. Accounting quality could be defined as the usefulness of financial reporting to investors and other parties in contractual relationships with the firm. In this thesis it is measured by a single, but important attribute, accounting conservatism. Conservatism is understood as asymmetric timeliness of loss and gain recognition. The study examines the role and the users of financial statements, and how changes in both respectively affect accounting conservatism. These two questions are explored in two different research environments, the Nordic countries and the transitional economies of Europe. The results of the dissertation indicate that the degree of accounting conservatism increases the closer the financial statement comes to fulfilling the informational role of financial reporting. Secondly, it is also implied that foreign investors demand conservative accounting numbers in order to mitigate the problem of information asymmetry. Overall, the findings suggest that earnings conservatism is useful and increases the quality of financial information for the purpose of decision-making and contracting. These results are of relevance to managers, investors and other users of financial reporting information, as well as to standard setters.

Diffusion of Smart Meters in Central East Europe

The present study deals with innovation diffusion as the central component of innovation process and takes smart meters as a concrete example from the electric power industry. Smart meters are seen as key enablers of the industry-wide shift towards smart grids and are recognized by the European Union as means of reaching its environmental and energy goals. However, the spread of smart meters through the market, especially in Central East Europe (CEE), is not corresponding to the expectations and identified benefits. The current work synthesizes available data for the under-researched geographical region of CEE and clarifies the process of smart meter diffusion and drivers behind it. In addition to innovation theories the methods applied are rate of adoption and thematic analysis. The results prove the large gap between optimal and actual diffusion as well as the lagging position of CEE in comparison to the EU’s market leaders. The smart metering market is driven from bottom-up and the majority of CEE countries have already carried out or started the initial activities. Therefore, in coming years more intensive smart meters deployment will be seen.

The analysis and mitigation of risks in FMCG supply chain: the case of British American Tobacco Eastern Europe

This work investigates the Bullwhip Effect, which is one of the most important phenomena in contemporary supply chain management. The author uses most recent theoretical apparatus to analyze operational activities of a leading FMCG company British American Tobacco Eastern Europe. This paper investigates and describes the process in BAT supply chain management and considers the impact of the Bullwhip Effect together with the potential risks threatening company's operations. Emergence of the Bullwhip Effect leads to supply chain inefficiency. This paper contains methodological supply chain risk mitigation recommendations, description of a real case study and an analytical study of internal and external supply chain processes

Future prospects of short distance rail based passenger transport in Northern Europe

The worlds’ population is increasing and cities have become more crowded with people and vehicles. Communities in the fringe of metropolitans’ increase the traffic done with private cars, but also increase the need for public transportation. People have typically needs traveling to work located in city centers during the morning time, and return to suburbs in the afternoon or evening. Rail based passenger transport is environmentally friendly transport mode with high capacity to transport large volume of people. Railways have been regulated markets with national incumbent having monopoly position. Opening the market for competition is believed to have a positive effect by increasing the efficiency of the industry. National passenger railway market is opened for competition only in few countries, where as international traffic in EU countries was deregulated in 2010. The objective of this study is to examine the passenger railway market of three North European countries, Sweden, Denmark and Estonia. The interest was also to get an understanding of the current situation and how the deregulation has proceeded. Theory of deregulation is unfolded with literature analyses and empirical part of the study is constructed from two parts. Customer satisfaction survey was chosen as a method to collect real life experiences from the passengers and measure their knowledge of the market situation and possible changes appeared. Interviews of experts from the industry and labor unions give more insights and able better understanding for example of social consequences caused from opening the market for competition. Expert interviews were conducted by using semi-structured theme interview. Based on the results of this study, deregulation has proceeded quite differently in the three countries researched. Sweden is the most advanced country, where the passenger railway market is open for new entrants. Denmark and Estonia are lagging behind. Opening the market is considered positive among passengers and most of the experts interviewed. Common for the interviews were the labour unions negative perspective concerning deregulation. Despite the fact deregulation is considered positive among the respondents of the customer satisfaction survey, they could not name railway undertakings operating in their country. Generally respondents were satisfied with the commuter trains. Ticket price, punctuality of trains and itinerary affect the most to customer satisfaction.