The Boundaries of the Firm from the Extended Transaction Cost Economics Point of View - Empirical Study

Tutkimuksen tavoitteena oli tutkia yrityksen rajoja laajennetun transaktiokustannusteorian näkökulmasta. Tutkimus oli empiirinen tutkimus, jossa tutkittiin viittä toimialaa. Tutkimuksen tavoitteena oli verrata paperiteollisuutta teräs-, kemian-, ICT- ja energiateollisuuteen. Aineisto empiiriseen osioon kerättiin puolistrukturoiduilla teemahaastatteluilla. Tutkimus osoitti, että laajennettu transaktiokustannusteoria soveltuu hyvinyrityksen rajojen määrittelyyn. Staattinen transaktiokustannusteorian selitysaste ei ole riittävä, joten dynaaminen laajennus on tarpeellinen. Tutkimuksessa ilmeni, että paperiteollisuudella verrattuna muihin toimialoihin on suurimmat haasteet tehokkaiden rajojen määrittämisessä.

Predictors and Correlates of Substance Use among Young Men. The Longitudinal “From a Boy to a Man” Birth Cohort Study.

Substance use is one of our most important public health problems. Studying risk factors in a longitudinal study setting helps to identify subgroups of young people at greater risk for substance-use-related problems, and to facilitate targeted prevention efforts. The aim of this thesis was to study childhood predictors and correlates of substance-use-related outcomes among young men in a longitudinal, nationwide birth cohort study. The study population included 10% of all Finnish-speaking boys born in Finland in 1981 (n=2946, 97% of the target population). In 1989, at age eight, valid measures of psychiatric symptoms (Rutter questionnaires and Children’s Depression Inventory) were obtained from parents, teachers and the boys themselves. In 1999, at age 18, boys were reached at their obligatory military call-up (n=2348, 80% of the boys attending the study in 1989). Self-reports of substance use, psychopathology, adaptive functioning (Young Adult Self-Report), and mental health service use were obtained through questionnaires. Information about psychiatric diagnoses from the Military Register (age 18-23 years) and information about offending from the National Police Register (age 16-20 years) were collected in early adulthood (92% of the 1989sample). Boys with childhood conduct, hyperactive, and comorbid conduct-emotional problems had elevated rates of substance use and substance-use-related crime in early adulthood. Depressive symptoms predicted daily smoking, especially among boys of low-educated fathers. Emotional problems predicted lower occurrence of drunkenness-related alcohol use and smoking. Teacher reports on boys’ problem behaviour had the best predictive power for later substance use. At age 18, frequent drunkenness associated with delinquency, smoking and illicit drug use, and having friends. Occasional drunkenness associated with better psychosocial functioning in general compared to boys with frequent drunkenness or without drunkenness-related alcohol use. Illicit drug use without drug offending was not predicted by childhood psychiatric symptoms, but 22% of boys with illicit drug use had a psychiatric diagnosis in early adulthood. Drug offenders, in turn, had psychiatric problems both in childhood and in adulthood. Psychiatric disorders were common among young men with substance-use-related crime. Recidivist crime associated strongly with having a substance use disorder diagnosis according to the Military Register. At age 18, frequent drunkenness was common among boys entering mental health services, but entering substance use treatment was non-existent. According to the findings of this thesis, substance-use-related outcomes accumulate in boys having psychiatric problems both in childhood and in early adulthood. Targeted early interventions in school health care systems, particularly for boys with childhood hyperactive, conduct, and comorbid conduct-emotional problems are recommended. Psychiatric problems and risky behaviours, such as delinquency should always be assessed alongside substance use. Specialized and multidisciplinary care are required for young men who have multiple or complex needs, for instance, for young men with drug offending and recidivist crime. Integrating a substance use treatment perspective with other services where young men are encountered is emphasized.

Characterization of novel genes predominantly expressed in the epididymis – from genome analyses to genetically modified mice

In mammals, post-testicular sperm maturation taking place in the epididymis is required for the spermatozoa to acquire the abilities required to fertilize the egg in vivo. The epididymal epithelial cells secrete proteins and other small molecules into the lumen, where they interact with the spermatozoa and enable necessary maturational changes. In this study different in silico, in vitro and in vivo approaches were utilized in order to find novel genes responsible for the function of the epididymis and post-testicular sperm maturation in the mouse. Available online genomic databases were analyzed to identify genes potentially expressed in the epididymis, gene expression profiling was performed by studying their expression in different mouse tissues, and significance of certain genes to fertility was assessed by generating genetically modified mouse models. A recently discovered Pate (prostate and testis expression) gene family was found to be predominantly expressed in the epididymis. It represents one of the largest known gene families expressed in the epididymis, and the members code for proteins potentially involved in defense against microorganisms. Through genetically modified mouse models CRISP4 (cysteine-rich secretory protein 4) was identified to regulate sperm acrosome reaction, and BMYC to inhibit the expression of the Myc proto-oncogene in the developing testis. A mouse line expressing iCre recombinase specifically in the epididymis was also generated. This model can be used to generate conditional, epididymis-specific knock-out models, and will be a valuable tool in fertility studies.

Designing the transformation from a boiler supplier into a solution seller

Competition for customers in business-to-business markets is rough, and in order to survive a seller has to be able to deliver more value to its customers than its competitors. This thesis is done for the sales department of an energy technology company operating in business-to-business markets. The company is a relatively small in its field, and it aims to expand internationally and differ itself from its competitors by providing better service for its customers and selling solutions. This study aims to design the transformation from a product seller into a solution seller by defining what is a solution and how solutions are sold, and creating an action plan for sales. Data for the study is collected in ten theme interviews, and analyzed with thematic and content analysis. The action plan is constructed based both on the data and theory. According to the findings of the study, solution is defined as a specially designed unique combination of elements – such as products, services, knowledge, experience and thinking – that work with and complement each other, and bring value to a particular customer. Solution sales requires capabilities to anticipate; build relationships with customers; identify needs and define requirements; cocreate solutions by customizing and integrating elements; and provide postdeployment support. Vision for the change is to sell solution through sensing customers’ needs and responding to them, and the steps of the action plan are to (1) cascade customer-focus, (2) involve other departments in solution sales, (3) develop customer relationship management, and (4) involve the whole organization in solution business.

The Use of Systematic Value Strategies in Separating the Winners from the Losers: Evidence from the Finnish Markets

This study examines the Magic Formula and ERP5 value strategies in the Finnish stocks markets. Magic Formula ranks stocks based on EV/EBIT and ROA and ERP5 based on EV/EBIT, ROA, P/B and five-year trailing ROA. The purpose of the study is to examine whether the value strategies can be used to generate excess returns over the market index. The data has been collected from the Datastream database for the sample period from May 1997 to May 2010 and consists of the companies listed on the main list of Helsinki Stock Exchange. This study confirms the findings of previous research that value premium exists in the Finnish stock markets and that systematic value strategies can be used to form portfolios that outperform the market index with lower volatility.

The adjustment from Russia to Finland for corporate repatriates: How the repatriation experience influences readjustment in the workplace

To manage foreign operations, companies must often send their employees on international assignments. Repatriating these expatriates can be difficult because they have been forgotten during their posting, and their new experiences are not utilised. In addition to the possible difficulties in organisational repatriation, the returnee can suffer from readjustment problems after a lengthy stay abroad has changed their habits and even identity. This thesis examines the repatriation experience of Finnish assignees returning from Russia. The purpose of the study is to understand how the repatriation experience influences their readjustment to work in Finland. This experience is influenced by many factors including personal and situational changes, the repatriation process, job and organisational factors, and individual’s motives. The theoretical background of the study is founded on two models of repatriation adjustment. A refined, holistic theoretical framework for the study is created. It describes the formation of the repatriation experience and its importance for readjustment to work and retention. The qualitative research approach is suitable for the thesis which examines the returnees’ personal experiences and feelings: a qualitative case study aims to explain the phenomenon in-depth and comprehensively. The data was collected in summer 2013 through semi-standardised interviews with eight Finnish repatriates. They had returned from Russia within the last two years. The data was analysed by structuring the interview transcripts using template analysis. The results supported earlier literature and suggest that the re-entry remains a challenging phase for both the individual and the company. For some, adjusting to a new job was difficult for various reasons. The repatriates underwent personal change and development and felt it was for the better. Many repatriates criticised the company’s repatriation process upon return. Finding a suitable return job was not clear. Instead, the returnees had to be active in finding a new position. Many assignees had only modest career-related motives regarding the assignment and they had realistic expectations about the return. Therefore they were not extremely surprised or dissatisfied when they were not actively offered positions or support by the company. The significance of motives stood out even more than the theory predicted. As predicted, they are linked to the expectations of employees. Moreover, if the employees are motivated to remain in the company, they can tolerate partly a negative repatriation experience. Despite the complexity of the return and readjustment, the assignment as a whole was seen as a rewarding experience by all participants.

A chart of the southern part of South America : with the track of the centurion from the island of St. Catherines to the island of Juan Fernandes in which is inserted the variation and soundings observ'd on board her, together with her deviation from her estimated course in passing round Cap Horn, occasiond by the force of the currents / R. W. Seale sculp

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