Testing Accrual-Based Model for Detecting Earnings Management: Comparison of Finland and France

The aim of this study is to test the accrual-based model suggested by Dechow et al. (1995) in order to detect and compare earnings management practices in Finnish and French companies. Also the impact of financial crisis of 2008 on earnings management behavior in these countries is tested by dividing the whole time period of 2003-2012 into two sub-periods: pre-crisis (2003-2008) and post-crisis (2009-2012). Results support the idea that companies in both countries have significant earnings management practices. During the post-crisis period companies in Finland show income inflating practices, while in France the opposite tendency is noticed (income deflating) during the same period. Results of the assumption that managers in highly concentrated companies are engaged in income enhancing practices vary in two countries. While in Finland managers are trying to show better performance for bonuses or other contractual compensation motivations, in France they avoid paying dividends or high taxes.

Future of Newspaper Business Models in Finland

The purpose of this Master’s thesis was to study the business model development in Finnish newspaper industry during the next then years through scenario planning. The objective was to see how will the business models develop amidst the many changes in the industry, what factors are affecting the change, what are the implications of these changes for the players in the industry and how should the Finnish newspaper companies evolve in order to succeed in the future. In this thesis the business model change is studied based on all the elements of business models, as it was discovered that the industry is too often focusing on changes in only few of those elements and a more broader view can provide valuable information for the companies. The results revealed that the industry is affected by many changes during the next ten years. Scenario planning provides a good tool for analyzing this change and for developing valuable options for businesses. After conducting series of interviews and discovering forces affecting the change, four different scenarios were developed centered on the role that newspaper will take and the level at which they are providing the content in the future. These scenarios indicated that there are varieties of options in the way the business models may develop and that companies should start making decisions proactively in order to succeed. As the business model elements are interdepended, changes made in the other elements will affect the whole model, making these decisions about the role and level of content important for the companies. In the future, it is likely that the Finnish newspaper industry will include many different kinds of business models, some of which can be drastically different from the current ones and some of which can still be similar, but take better into account the new kind of media environment.

Employee layoff announcements and shareholder wealth: empirical evidence from Finland 2008-2013

This thesis investigates the short-term stock price reaction to layoff announcements in Finland. It also studies whether the characteristics of the firm or the layoff announcement have an impact on the stock market reaction. Standard event study methodology was utilized to examine the stock price reactions to layoffs and to test the created hypotheses. The event pool consisted of 102 publicly disclosed layoff announcements that were announced during the time period from June 2008 to December 2013. The empirical results show that the stock market reaction is strongly positive in the pre-event period of -10 to -1 with CAAR of 2,69%. The reaction is however slightly negative on the event date with AAR of -0,57%. Based on the results the conclusion is that either the managers are timing the markets or the layoffs are seen as efficiency improving acts and the market becomes aware of such actions pre-event. Additionally different characteristic hypotheses are tested to find out whether they would explain the reaction. The characteristics are: the reason stated by the management, business cycle, industry group, prior performance, leverage-ratio, the size of the company, the size of the layoff and the duration of the layoff.

Vem är jag, vem är vi, vem är vem i vårt land? : kontextens betydelse för gruppidentifikation och stereotypier bland svensk- och finskspråkiga i Finland och Sverige

Anna Henning-Lindblomin väitöskirja Vem är jag, vem är vi, vem är vem i vårt land? : kontextens betydelse för gruppidentifikation och stereotypier bland svensk- och finskspråkiga i Finland och Sverige (Helsingin yliopisto 2012).

Mobile Banking and Mobile Payments: Changing Banking Services in Finland

The purpose of this thesis is to examine how mobile banking and mobile payments services will change the banking sector in Finland, and what role non-bank companies from the IT and telecom industries will play in this process. The thesis consists of a literature review and a qualitative study. The literature review forms a comprehensive overview of mobile banking and mobile payments services. The qualitative research was conducted as a descriptive study, focusing on the views of bank and non-bank players. The results show that banks have a significant advantage over their IT and telecom rivals in regards to their service offering, financial buffer, and status as trustworthy institutions. The banks’ embrace of mobile financial services will change the Finnish banking sector into one, with a light branch network focused on sales power, and a heavy emphasis on new mobile devices providing service power regardless of time and place.

Geologisk kart over de Skandinaviske lande og Finland

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

Karta öfver Sverige, Norge, Danmark och Finland : under ledning af O. Torell

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

[Karta öfver Sverige, Norge, Danmark och Finland : under ledning af O. Torell

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

Ägodelnings-karta från Finland : [Eriksnäs m.fl. egendomar i Sibbo socken]

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

Fick-tidtabell för bantågen å Statsjernvägarne i Finland : fr.o.m. den 1 okt. (19 sept.) 1884 tillsvidare : med karta = Tasku-aikataulu junille Valtionrautateillä Suomessa : 1 p:stä lokakuuta (19 p:stä syysk.) 1884 toistaiseksi : ynnä kartta

Kuuluu A. E. Nordenskiöldin kokoelmaan

Fick-tidtabell för bantågen å Statsjernvägarne i Finland : fr.o.m. den 1 okt. (19 sept.) 1885 tillsvidare : med ny karta = Tasku-aikataulu junille Valtionrautateillä Suomessa : 1 p:stä lokakuuta (19 p:stä syysk.) 1885 toistaiseksi : ynnä uusi kartta

Kuuluu A. E. Nordenskiöldin kokoelmaan