umu.sePublications
Change search
Refine search result
1 - 5 of 5
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Rows per page
  • 5
  • 10
  • 20
  • 50
  • 100
  • 250
Sort
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
  • Disputation date (earliest first)
  • Disputation date (latest first)
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
  • Disputation date (earliest first)
  • Disputation date (latest first)
Select
The maximal number of hits you can export is 250. When you want to export more records please use the Create feeds function.
  • 1.
    Cornelius, Barbara
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE).
    A Case Study of Board Control and Governance in a Venture Capital Portfolio Company 1980–19972005In: The Finnish Journal of Business Economics, ISSN 0024-3469, E-ISSN 2242-4296, Vol. 2, p. 267-281Article in journal (Refereed)
    Abstract [en]

    Contracts in venture capital have been examined most often through the lens of agency theory. From this perspective, the venture capitalist sits on the board of directors of portfolio companies in order to monitor the behaviour of the entrepreneur as chief executive officer and agent of the investors. The governance provided by such a board is different, however, from that provided by the boards of larger corporations. The role of the board, in small corporations, is more involved than that of their larger brethren. In this paper, the governance provided by the board of a new start-up

    venture is examined in detail. The case follows a single syndicated technological investment undertaken, originally, at the seed stage and followed through to merger and public listing. The case demonstrates the intensive involvement that early stage venture investors have in their portfolio companies showing the difficulty of trying to describe the complex interactions that take place in a dynamic system under a single static theoretical mold. The growth and success of this venture was due, in large part, to the

    contribution of the non-executive directors.

  • 2.
    Hassel, Lars
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE).
    Budget communication moderate incongruent budget emphasis between the superior and subordinate1998In: The Finnish Journal of Business Economics, ISSN 0024-3469, E-ISSN 2242-4296, no 1, p. 11-23Article in journal (Refereed)
    Abstract [en]

    Subsequent research on the moderating impact of budgetary participation on superior budget emphasis to promote functional budget behaviour has either provided inconsistent (Brownell, 1982; Hirst, 1987 and Dunk, 1989; Hassel, 1993) or situation specific (Brownell and Hirst, 1986; Brownell and Dunk 1991) results.

    This study follows the early argument by Otley (1978) that critical for promoting functional budget control is not so much the absolute degree of superior budget emphasis. Instead, incongruent budget emphasis between the superior and the subordinate is the critical factor in the budget process. Incongruent budget emphasis exists when the superior is perceived by the subordinate to place relatively more importance on the budget, than the subordinate himself.

    The results from a questionnaire survey in a decentralised corporation support the hypothesis that budget communication, as a dimension of budgetary participation, moderates incongruent budget emphasis. The negative consequences of incongruent budget emphasis are present only when budget communication is low. High budget communication enhances performance even if the incongruence in budget emphasis increases. The paper demonstrates the needs to match budget communication with relative budget emphasis and not the absolute degree of superior budget emphasis as previous studies have argued.

  • 3. Latvanen, Silja
    et al.
    Hassel, Lars
    Department of Business Administration, Åbo Akademi University, Turku, Finland.
    Rewarding results among production personnel1992In: The Finnish Journal of Business Economics, ISSN 0024-3469, E-ISSN 2242-4296, Vol. 41-42, no 4, p. 312-324Article in journal (Refereed)
  • 4.
    Semenova, Natalia
    et al.
    School of Business and Economics, Åbo Akademi University.
    Hassel, Lars
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE). Åbo Akademi University.
    Nilsson, Henrik
    Stockholm School of Economics.
    The value relevance of environmental and social performance: evidence from Swedish SIX 300 companies2010In: The Finnish Journal of Business Economics, ISSN 0024-3469, E-ISSN 2242-4296, Vol. 3, no 10, p. 265-292Article in journal (Refereed)
    Abstract [en]

    Environmental, social, and governance performance has attracted close attention around the world and is becoming a focus of many companies, investors, financial analysts, and accounting policy makers.This paper provides insight into how environmental and social performance is reflected in the market value of listed SIX 300 companies on OMX Stockholm. Applying the Ohlson valuation model, we express the market value of equity as a function of the book value of equity, accounting earnings, and environmental and social performance, where the last two variables are the proxies for other valuerelevant information. We test this model with data from the GES Investment Services® risk ratings that enable us to create a holistic view on the long-term extra-financial performance and to disaggregate the effects of various dimensions of environmental and social performance on stock prices. The evidence presented in this study finds support for the value relevance of environmental performance at both aggregated and sub-aggregated levels. In the social dimension, support is found for community and supplier relations. We contribute empirical findings to the current debate on the relations between environmental and social performance and shareholder value, and demonstrate the extra-financial value of environmental and social performance.

  • 5.
    Sundgren, Stefan
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE).
    Earnings Management in Public and Private Companies: Evidence from Finland2007In: The Finnish Journal of Business Economics, ISSN 0024-3469, E-ISSN 2242-4296, no 1, p. 35-63Article in journal (Refereed)
    Abstract [en]

    The paper studies earnings management in public and private companies and whether earnings management is a function of leverage. A matched sample with 99 public and 99 private Finnish companies is used.

    Earnings management is difficult to measure and several different approaches are used to identify earnings management. Firstly, following several prior studies, discretionary accruals, the ratio of small profits to small losses, the variation in earnings in relation to the variation in cash flows and the correlation between the change in earnings and the change in cash flows are used as measures of earnings management. Secondly, a number of specific accruals are studied, namely the depreciation, the amortization of goodwill and the recognition of impairment losses. Thirdly, whether companies use the timing of assets sales and other gains reported as a non-operating income as a way to manage earnings is studied.

    The main findings are as follows: contrary to studies of U.K and U.S. data, this paper finds no significant differences in the accounting choice/earnings management measures between public and private companies. Furthermore, some of the measures used indicate that highly leveraged companies are more likely to use income increasing accounting methods than companies with a low leverage. However, the impact of leverage on accounting choices does not differ significantly between private and public companies.

1 - 5 of 5
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf