Use of ecological information in urban planning

Urbanization leads to irreversible land-use change, which has ecological consequences such as the loss and fragmentation of green areas, and structural and functional changes in terrestrial and aquatic ecosystems. These consequences diminish ecosystem services important for human populations living in urban areas. All this results in a conflict situation: how to simultaneously meet the needs of city growth and the principles of sustainable development, and especially conserve important green areas within and around built-up areas? Urban planners and decisionmakers have an important role in this, since they must use the ecological information mainly from species and biotope inventories and biodiversity impact assessments in determining the conservation values of green areas. The main aim of this thesis was to study the use of ecological information in the urban land-use planning and decisionmaking process in the Helsinki Metropolitan Area, Finland. At first, the literature on ecological-social systems linkages related to urban planning was reviewed. Based on the review, a theoretical and conceptual framework for the research on Finnish urban setting was adapted. Secondly, factors determining the importance and effectiveness of incorporation of ecological information into the urban planning process, and the challenges related to the use of ecological information were studied. Thirdly, the importance and use of Local Ecological Knowledge in urban planning were investigated. Then, factors determining the consideration of urban green areas and related ecological information in political land-use decisionmaking were studied. Finally, in a case study illustrating the above considerations, the importance of urban stream ecosystems in the land-use planning was investigated. This thesis demonstrated that although there are several challenges in using ecological information effectively, it is considered as an increasingly important part of the basic information used in urban planning and decisionmaking process. The basic determinants for this are the recent changes in environmental legislation, but also the increasing appreciation of green areas and their conservation values by all the stakeholders. In addition, Local Ecological Knowledge in its several forms can be a source of ecological information for planners if incorporated effectively into the process. This study also showed that rare or endangered species and biotopes, and related ecological information receive priority in the urban planning process and usually pass through the decisionmaking system. Furthermore, the stream Rekolanoja case indicates that planners and residents see the value of urban stream ecosystem as increasingly important for the local health and social values, such as recreation and stress relief.

Mig eller mej, själ eller sjel? Problem och lösningar vid transkription av svenska sångtexter

Abstract (Mig or mej, själ or sjel? Problems and solutions in the transcription of Swedish song texts): In this article I am pointing out and discussing problems and solutions concerning phonetic transcription of Swedish song texts. My material consists of 66 Swedish songs phonetically transcribed. The transcriptions were published by The Academy of Finnish Art Song in 2009. The first issue was which level of accuracy should be chosen. The transcriptions were created to be clear at a glance and suitable for the needs of interpretation of non Swedish speaking singers. The principle was to use as few signs and symbols as possible without sacrificing accuracy. Certain songs were provided with additional information whenever there was a chance of misinterpretation. The second issue was which geographic variety of the language should be visible in the transcription, Standard Swedish or Finland-Swedish? The songs in the volume are a selection of well-known works that are also of international interest. Most were composed by Jean Sibelius (1865–1957), a substantial number of whose songs were based on poems written by Finland’s national poet, Johan Ludvig Runeberg (1804–1877). Thus I chose to use the variety of Swedish language spoken in Finland, in order to reflect the cultural origin of the songs. This variety differs slightly from the variety spoken in Sweden both on prosodic and phonetic level. In singing, the note-text gives the interpretor enough information about prosody. The differences concern mostly the phonemes. A fully consequent transcript was, however, difficult to make, due to vocal requirement. So, for example, in an unstressed final syllable the vowel was often indicated as a central vowel, which in singing is given a more direct emphasis than in a literal pronunciation, even if this central vowel does not occur in spoken Finland-Swedish.

Vaggvisor i Kvevlax : Språkliga strukturer och konstruktioner

Lullabies in Kvevlax. Linguistic structures and constructions. The study is a linguistic analysis of constructions that shape the texts used in lullabies in Kvevlax in Ostrobothnia in Finland. The empirical goal is to identify linguistic constructions in traditional lullabies that make use of the dialect of the region. The theoretical goal was to test the usability of Construction Grammar (CxG) in analyses of this type of material, and to further develop the formal description of Construction Grammar in such a way as to make it possible to analyze all kinds of linguistically complex texts. The material that I collected in the 1960s comprises approximately 600 lullabies and concomitant interviews with the singers on the use of lullabies. In 1991 I collected additional material in Kvevlax. The number of informants is close to 250. Supplementary material covering the Swedish-language regions in Finland was compiled from the archives of the Society of Swedish Literature in Finland. The first part of the study is mainly based on traditional grammar and gives general information about the language and the structures used in the lullabies. In the detailed study of the Kvevlax lullabies in the latter part of the study I use a version of Construction Grammar intended for the linguistic analysis of usage-based texts. The analysis focuses on the most salient constructions in the lullabies. The study shows that Construction Grammar as a method has more general applicability than traditional linguistic methods. The study identifies important constructions, including elements typical of this genre, that structure the text in different variants of the same lullabies. In addition, CxG made it possible to study pragmatic aspects of the interactional, cultural and contextual language that is used in communication with small children. The constructions found in lullabies are also used in language in general. In addition to being able to give detailed linguistic descriptions of the texts, Construction Grammar can also explain the multidimensionality of language and the variations in the texts. The use of CxG made it possible to show that variations are not random but follow prototypical linguistic patterns, constructions. Constructions are thus found to be linguistic resources with built-in variation potentials.

Determinants and Consequences of Information Sharing with Key Suppliers

As companies become more efficient with respect to their internal processes, they begin to shift the focus beyond their corporate boundaries. Thus, the recent years have witnessed an increased interest by practitioners and researchers in interorganizational collaboration, which promises better firm performance through more effective supply chain management. It is no coincidence that this interest comes in parallel with the recent advancements in Information and Communication Technologies, which offer many new collaboration possibilities for companies. However, collaboration, or any other type of supply chain integration effort, relies heavily on information sharing. Hence, this study focuses on information sharing, in particular on the factors that determine it and on its value. The empirical evidence from Finnish and Swedish companies suggests that uncertainty (both demand and environmental) and dependency in terms of switching costs and asset specific investments are significant determinants of information sharing. Results also indicate that information sharing improves company performance regarding resource usage, output, and flexibility. However, companies share information more intensely at the operational rather than the strategic level. The use of supply chain practices and technologies is substantial but varies across the two countries. This study sheds light on a common trend in supply chains today. Whereas the results confirm the value of information sharing, the contingent factors help to explain why the intensity of information shared across companies differ. In the future, competitive pressures and uncertainty are likely to intensify. Therefore, companies may want to continue with their integration efforts by focusing on the determinants discussed in this study. However, at the same time, the possibility of opportunistic behavior by the exchange partner cannot be disregarded.

Essays on Stock Market Reactions to New Information

A functioning stock market is an essential component of a competitive economy, since it provides a mechanism for allocating the economy’s capital stock. In an ideal situation, the stock market will steer capital in a manner that maximizes the total utility of the economy. As prices of traded stocks depend on and vary with information available to investors, it is apparent that information plays a crucial role in a functioning stock market. However, even though information indisputably matters, several issues regarding how stock markets process and react to new information still remain unanswered. The purpose of this thesis is to explore the link between new information and stock market reactions. The first essay utilizes new methodological tools in order to investigate the average reaction of investors to new financial statement information. The second essay explores the behavior of different types of investors when new financial statement information is disclosed to the market. The third essay looks into the interrelation between investor size, behavior and overconfidence. The fourth essay approaches the puzzle of negative skewness in stock returns from an altogether different angle than previous studies. The first essay presents evidence of the second derivatives of some financial statement signals containing more information than the first derivatives. Further, empirical evidence also indicates that some of the investigated signals proxy risk while others contain information priced with a delay. The second essay documents different categories of investors demonstrating systematical differences in their behavior when new financial statement information arrives to the market. In addition, a theoretical model building on differences in investor overconfidence is put forward in order to explain the observed behavior. The third essay shows that investor size describes investor behavior very well. This finding is predicted by the model proposed in the second essay, and hence strengthens the model. The behavioral differences between investors of different size furthermore have significant economic implications. Finally, the fourth essay finds strong evidence of management news disclosure practices causing negative skewness in stock returns.

Faktorer som initierar och påverkar prat i långsiktiga relationer

Den klassiska situationen där konsumentinformationen på ett ensidigt sätt tidigare har levererats av företagen får ge vika för en ny situation där dagens konsument aktivt sprider information för att påverka andra konsumenters köpbeslut genom att prata med andra om köpupplevelser och specifika tjänsteleverantörer t ex genom diskussionsgrupper på Internet. För företagen är situationen kritisk då de håller på att mista sina maktmonopol på informationen. Innehållet i pratet är mycket viktigt för mottagarna av pratet eftersom de flesta kunder om de inte själva har upplevt företaget, skapar sina åsikter och förväntningar om företaget samt om dess varor och tjänster på basen av vad andra berättar om saken. Man kan då säga att pratet har fått en viktigare roll vid formandet av konsumtionsbeslutet. Syftet med denna studie är att skapa förståelse för vilka faktorer som initierar och påverkar prat hos kunder i långsiktiga relationer. På basis av de olika resultaten konstruerades en modell som förklarar sambandet mellan faktorerna. Modellens första del visar att prat initieras på basis av långvariga upplevelser i relationer mellan tjänsteleverantör och kund. Modellens andra del visar att pratet påverkas av kundens personliga karaktäristika och relationsrelaterade faktorer som upplevt engagemang i tjänstekategorin och i tjänsteleverantören samt i relationslängden. Modellens tredje del visar att kundernas prat varierar i aktivitet och omfång beroende på valensen av upplevelserna och beroende på om prataren har starka eller svaga band till pratmottagaren. Det är viktigt och mycket aktuellt att öka förståelsen för kunders kommunikationsbeteende ur ett relationsperspektiv. Ur företagsledningssynvinkel är det viktigt att förstå hur kunders prat påverkar utvecklingen av verksamhetsmiljön. Ur praktiskt tillämpningsperspektiv kan en ökad kunskap om pratet vidare hjälpa företaget att fokusera på vad kunderna anser vara viktigt i en relation. Genom att veta vad kunderna pratar om kan företaget förbättra svagheter i verksamheten, och därigenom minska på andelen negativt prat eller uppmuntra kunder att prata om fördelar som relationen med företaget ger åt kunden.

Use of Customer Information: An Ethnography in Service Development

Service researchers have repeatedly claimed that firms should acquire customer information in order to develop services that fit customer needs. Despite this, studies that would concentrate on the actual use of customer information in service development are lacking. The present study fulfils this research gap by investigating information use during a service development process. It demonstrates that use is not a straightforward task that automatically follows the acquisition of customer information. In fact, out of the six identified types of use, four represent non usage of customer information. Hence, the study demonstrates that the acquisition of customer information does not guarantee that the information will actually be used in development. The current study used an ethnographic approach. Consequently, the study was conducted in the field in real time over an extensive period of 13 months. Participant observation allowed direct access to the investigated phenomenon, i.e. the different types of use by the observed development project members were captured while they emerged. In addition, interviews, informal discussions and internal documents were used to gather data. A development process of a bank’s website constituted the empirical context of the investigation. This ethnography brings novel insights to both academia and practice. It critically questions the traditional focus on the firm’s acquisition of customer information and suggests that this focus ought to be expanded to the actual use of customer information. What is the point in acquiring costly customer information if it is not used in the development? Based on the findings of this study, a holistic view on customer information, “information in use” is generated. This view extends the traditional view of customer information in three ways: the source, timing and form of data collection. First, the study showed that the customer information can come explicitly from the customer, from speculation among the developers or it can already exist implicitly. Prior research has mainly focused on the customer as the information provider and the explicit source to turn to for information. Second, the study identified that the used and non-used customer information was acquired both previously, and currently within the time frame of the focal development process, as well as potentially in the future. Prior research has primarily focused on the currently acquired customer information, i.e. within the timeframe of the development process. Third, the used and non-used customer information was both formally and informally acquired. In prior research a large number of sophisticated formal methods have been suggested for the acquisition of customer information to be used in development. By focusing on “information in use”, new knowledge on types of customer information that are actually used was generated. For example, the findings show that the formal customer information acquired during the development process is used less than customer information already existent within the firm. With this knowledge at hand, better methods to capture this more usable customer information can be developed. Moreover, the thesis suggests that by focusing stronger on use of customer information, service development processes can be restructured in order to facilitate the information that is actually used.

Information Sharing in Banking: A Collusive Device?

We show that information sharing among banks may serve as a collusive device. An informational sharing agreement is an a-priori commitment to reduce informational asymmetries between banks in future lending. Hence, information sharing tends to increase the intensity of competition in future periods and, thus, reduces the value of informational rents in current competition. We contribute to the existing literature by emphasizing that a reduction in informational rents will also reduce the intensity of competition in the current period, thereby reducing competitive pressure in current credit markets. We provide a large class of economic environments, where a ban on information sharing would be strictly welfare-enhancing.

New Evidence on the Properties of the Financial Statement Information Pricing Process

This study contributes to our knowledge of how information contained in financial statements is interpreted and priced by the stock market in two aspects. First, the empirical findings indicate that investors interpret some of the information contained in new financial statements in the context of the information of prior financial statements. Second, two central hypotheses offered in earlier literature to explain the significant connection between publicly available financial statement information and future abnormal returns, that the signals proxy for risk and that the information is priced with a delay, are evaluated utilizing a new methodology. It is found that the mentioned significant connection for some financial statement signals can be explained by that the signals proxy for risk and for other financial statement signals by that the information contained in the signals is priced with a delay.

How Do Different Types of Investors React to New Financial Statement Information?

The study contributes to our understanding of the forces that drive the stock market by investigating how different types of investors react to new financial statement information. Using the extremely comprehensive official register of share holdings in Finland, we find that the majority of investors are more probable to sell (buy) stocks in a company after a positive (negative) earnings surprise, and show a bias towards buying after the disclosure of new financial statement information. Large investors, on the other hand, show behavior opposite to that of the majority of investors in the market. Further, foreign investors show behavior similar to that of domestic investors. We suggest investor overconfidence and asymmetric information as possible explanations for the documented behavior.

Do Analysts Leak Information to Preferred Customers?

Inspired by the recent debate in the financial press, we set out to investigate if financial analysts warn their preferred customers of possible earnings forecast revisions. The issue is explored by monitoring investors’ trading behavior during the weeks prior to analyst earnings forecast revisions, using the unique official stock transactions data set from Finland. In summary, we do not find evidence of large investors systematically being warned of earnings forecast revisions. However, the results indicate that the very largest investors show trading behavior partly consistent with being informed of future earnings forecast revisions.