The Effect of Risk-Based Factors on the Value Premium: The Finnish Evidence

This thesis examines the effect of operating leverage and financial leverage on the value premium in the Finnish stock markets 2002-2012. The purpose of the thesis is to examine whether operating leverage and financial leverage affect firm`s BE/ME and stock returns. The accounting data has been collected from Amadeus database and market-based data from the Datastream database. Sample used in this thesis covers years from 1998 to 2012. This thesis confirms the findings of previous research of tight connection between operating leverage and BE/ME and reinforces the findings of previous research that relation between financial leverage and BE/ME is not robust. In turn, relation between operating leverage, BE/ME and stock returns is not clearly perceived during the 2002-2012 period in the Finnish stock markets.

OA business models for Finnish scholarly journals?

Presentation given at the Nordic Open Access Forum meeting in Copenhagen, June 24, 2014.

Preparing for CRIS: Challenges and Opportunities for Systems Integration at Finnish Universities

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

Open Repository Theseus – Success Story of 24 Finnish Universities of Applied Sciences

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

Emotional intelligence and multicultural project leadership in Finnish-Chinese MNC context

The main goal of this thesis was to examine how the emotional intelligence skills and multicultural project leadership style of a project manager interrelate and affect the success of a project. The research methods used are literature review in theoretical part of the thesis and semi-structured interviews in empirical part of the thesis. This study is a single case study i.e. one case company was selected to be the secondary level of analysis. Within the case company, four project managers were selected as research units to form the primary level of analysis. Literature review formed the basis for the empirical research and the interview questions were derived from the literature. Findings from the interviews were mirrored against the literature review findings, based on which both conclusions and generalisations could be made. Thus, both deductive and inductive methods were utilised to get more complete picture about the research topic. In the first part of the literature review the general leadership theories and the project leadership terminology are introduced as a background for the concept of emotional intelligence and the integrated leadership model. Emotional intelligence and its interrelation to different leadership concepts are discussed during the literature review. Chinese cultural aspects affecting the way of making business, and the multicultural leadership styles of the Finnish project managers are introduced in the following part of the literature review. It was found that the most successfully used multicultural leadership styles in Finnish-Chinese context are synergistic and polycentric, and these require emotional intelligence skills. In the empirical part on this thesis the findings from the semi-structured interviews are introduced, discussed and analysed. Interviews were done in private meeting rooms, and they were recorded and transcripted to add reliability and validity. Although the sample was only four project managers, the results show that the sample is quite saturated as the responses to several questions followed the same pattern. It was found that Finnish project managers in the case company are democratic and take cultural differences into account in their project leadership. Both synergistic and polycentric leadership styles are used with Chinese team members. Emotional intelligence capabilities and the emphasis of those differ a bit depending on the interviewee. Though, the results show that EI skills and the multicultural project leadership style used in Chinese context are interrelated. The findings from the literature review and the empirical research in this thesis are similar. Though, there is need for further research as the sample was small, and this thesis is a single case study. It is recommendable to make a multi-company study with larger sample of project managers. Also multi-industry perspective is recommendable for further research.

Idioms and L2 Learners. The Effect of L1, Transparency and Frequency on Idiom Comprehension by Finnish and Italian Learners of English

Tämän sivuaineen tutkielman tarkoituksena on selvittää, miten suomalaiset ja italialaiset englannin kielen opiskelijat tunnistavat englanninkielisten idiomien merkityksiä. Erityisesti opiskelijoiden oman äidinkielen vaikutusta idiomien ymmärtämiseen tutkitaan, kuin myös idiomien eri ominaisuuksien vaikutusta. Lisäksi tutkitaan, miten opiskelijat itse ajattelevat osaavansa käyttää idiomeja, ja pitävätkö he idiomien oppimista tärkeänä. Tutkielmaan osallistui 35 suomalaista englannin kielen yliopisto-opiskelijaa ja 34 italialaista englannin kielen yliopisto-opiskelijaa. Tutkimusaineisto kerättiin monivalintakyselyn avulla. Idiomit valittiin Collins Cobuild Dictionary of Idioms (2001) -sanakirjasta. Kysely sisälsi 36 idiomia, jotka valittiin kolmesta eri frekvenssiluokasta. Jokaisesta frekvenssiluokasta valittiin neljä idiomia, joille oli vastine sekä suomen että italian kielessä, neljä idiomia, joille oli vastine vain suomen kielessä ja neljä idiomia, joille oli vastine vain italian kielessä. Kullekin idiomille oli annettu neljä merkitysvaihtoehtoa, ja näistä yksi tai kaksi oli sanakirjojen mukaisia oikeita vastauksia. Tutkimuksen tulokset näyttävät osoittavan, että sekä suomalaisilla että italialaisilla oli vaikeuksia idiomien merkitysten tunnistamisessa. Kuitenkin myös suomalaisten ja italiaisten välillä oli tilastollisesti merkittävä ero. Suomalaiset osasivat idiomit huomattavasti paremmin kuin italialaiset. Koehenkilöt ymmärsivät merkittävästi helpommin idiomit joille oli vastine heidän omassa äidinkielessään kuin idiomit joille ei ollut vastinetta. Lisäksi vastaajat näyttivät hyötyvän myös idiomien kuvainnollisen ja kirjaimellisen merkityksen läheisyydestä eli läpinäkyvyydestä. Idiomien frekvenssi sen sijaan ei näyttänyt vaikuttavan niiden ymmärtämiseen. Suomalaisten ja italialaisten englannin opiskelijoiden mukaan idiomien opiskelu on hyödyllistä ja tarpeellista. Tulokset osoittavat, että idiomien ymmärtäminen on haastavaa jopa edistyneille oppijoille. Omalla äidinkielellä näyttää olevan suuri vaikutus idiomien ymmärtämiseen, ja nimenomaan samankaltaisuudesta on hyötyä. Äidinkielen merkitykseen vieraiden kielten oppimisessa ja sanaston oppimisessa täytyisi kiinnittää enemmän huomiota, ja idiomeja sekä muuta kuvainnollista kieltä täytyisi opettaa myös edistyneemmille oppijoille.

Foreign Operation Mode Strategies of Finnish Companies in Russia

The object of this study was to examine foreign operation mode strategies used by Finnish companies in Russia. Thus, it was necessary to understand how Finnish companies have used foreign operation modes and which factors have influenced on their foreign operation mode strategies in Russia. Moreover, the purpose was also to find out that have Finnish companies switched, stretched or combined their foreign operation modes. The study's empirical part was conducted as a semi structured qualitative within-case and cross-case analysis of seven case companies that are selected to represent different industries. There are five Finnish LSEs and two Finnish SMEs as case companies. The results of this study indicated that Finnish companies have mainly used exporting as their initial entry mode to the Russian market. After they had gained understanding and experience of the Russian market, they switched from non-equity and simple foreign operation modes to more challenging and equity demanding foreign operation modes, and established wholly owned operations.

Let Go and Remember. How Finnish Communities Experienced and Memorialized School Shootings

This study examines the aftermath of mass violence in local communities. Two rampage school shootings that occurred in Finland are analyzed and compared to examine the ways in which communities experience, make sense of, and recover from sudden acts of mass violence. The studied cases took place at Jokela High School, in southern Finland, and at a polytechnic university in Kauhajoki, in western Finland, in 2007 and 2008 respectively. Including the perpetrators, 20 people lost their lives in these shootings. These incidents are part of the global school shooting phenomenon with increasing numbers of incidents occurring in the last two decades, mostly in North America and Europe. The dynamic of solidarity and conflict is one of the main themes of this study. It builds upon previous research on mass violence and disasters which suggests that solidarity increases after a crisis, and that this increase is often followed by conflict in the affected communities. This dissertation also draws from theoretical discussions on remembering, narrating, and commemorating traumatic incidents, as well as the idea of a cultural trauma process in which the origins and consequences of traumas are negotiated alongside collective identities. Memorialization practices and narratives about what happened are vital parts of the social memory of crises and disasters, and their inclusive and exclusive characteristics are discussed in this study. The data include two types of qualitative interviews; focused interviews with 11 crisis workers, and focused, narrative interviews with 21 residents of Jokela and 22 residents of Kauhajoki. A quantitative mail survey of the Jokela population (N=330) provided data used in one of the research articles. The results indicate that both communities experienced a process of simultaneous solidarity and conflict after the shootings. In Jokela, the community was constructed as a victim, and public expressions of solidarity and memorialization were promoted as part of the recovery process. In Kauhajoki, the community was portrayed as an incidental site of mass violence, and public expressions of solidarity by distant witnesses were labeled as unnecessary and often criticized. However, after the shooting, the community was somewhat united in its desire to avoid victimization and a prolonged liminal period. This can be understood as a more modest and invisible process of “silent solidarity”. The processes of enforced solidarity were partly made possible by exclusion. In some accounts, the family of the perpetrator in Jokela was excluded from the community. In Kauhajoki, the whole incident was externalized. In both communities, this exclusion included associating the shooting events, certain places, and certain individuals with the concept of evil, which helped to understand and explain the inconceivable incidents. Differences concerning appropriate emotional orientations, memorialization practices and the pace of the recovery created conflict in both communities. In Jokela, attitudes towards the perpetrator and his family were also a source of friction. Traditional gender roles regarding the expression of emotions remained fairly stable after the school shootings, but in an exceptional situation, conflicting interpretations arose concerning how men and women should express emotion. The results from the Jokela community also suggest that while increased solidarity was seen as important part of the recovery process, some negative effects such as collective guilt, group divisions, and stigmatization also emerged. Based on the results, two simultaneous strategies that took place after mass violence were identified; one was a process of fast-paced normalization, and the other was that of memorialization. Both strategies are ways to restore the feeling of security shattered by violent incidents. The Jokela community emphasized remembering while the Kauhajoki community turned more to the normalization strategy. Both strategies have positive and negative consequences. It is important to note that the tendency to memorialize is not the only way of expressing solidarity, as fast normalization includes its own kind of solidarity and helps prevent the negative consequences of intense solidarity.