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    Young professionals' wellbeing at work
    (2024) Rintala, Juulia; Eräranta, Kirsi; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    The concept of wellbeing at work has changed a lot across decades. Nowadays, wellbeing at work is seen as more than just the absence of stress and exhaustion, and organizations put effort into developing employees’ wellbeing. Still, wellbeing at work is a topical subject mostly because of the worrisome results in recent research. Finnish working population’s wellbeing at work has been decreasing in the recent years. This topical subject is studied in this thesis from the perspective of young professionals, as many studies report that young adults’ wellbeing at work is worse than other age populations’. The aim of this research was to understand how young professionals themselves describe their wellbeing at work. Furthermore, this research aimed to find why young professionals feel the way they do at work. These were examined through 14 interviews with young professionals, who hold a Master’s degree and have gained up to 2 years of working experience after graduating. Interview results were analyzed in a qualitative content analysis. The results of the current study state that half of young professionals struggle with their wellbeing at work, and only 2 of the 14 participants described little to none deteriorating stress. Things that affect wellbeing at work for young professionals can be both organizational and personal. Examples of organizational things affecting wellbeing at work are environment and the people who create it, workload, and uncertainty. Personal things affecting wellbeing at work include taking care of wellbeing at free time, self-efficacy, and different personal reactions. First conclusion of this study is that many young professionals struggle with their wellbeing at work. Second, once wellbeing at work is worsened, it is more difficult to recover as the reactions caused by stress can cause more stress. Third, it is individual how much stress one can handle, and how big of a mismatch they can bear between their preferences and their jobs.
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    The role of apartment living area and floor level in hedonic price formation across market segments
    (2024) Tapio, Markus; Suominen, Matti; Rahoituksen laitos; Kauppakorkeakoulu; School of Business
    The purpose of this thesis is the examination of price segmentation in the Finnish housing markets, and the price formation within the segments using hedonic price modeling, with further emphasis placed on living area and apartment floor level. The examination includes the overall price impact of the characteristics of interest in the full market sample and in price-segmented subsamples. Subsample OLS regressions combined with Chow and Tiao-Goldberger F-tests are used to determine the potential for price segmentation. In addition, quantile regression estimates are used as a robustness check for the results provided by subsample regressions. Sample of apartment transactions from the largest cities in Finland from 2003 until 2020 was utilized in the model estimation, provided by the Central Federation of Finnish Real Estate Agencies (Kiinteistönvälitysalan Keskusliitto, KVKL). The subsample results indicate that Finnish housing markets are price-segmented. Chow and Tiao-Goldberger tests found highly statistically significant differences between the regression coefficients of low- and high-priced segments. Furthermore, the effect of living area on the whole market sample was as expected, and participants in the high-priced segment seem to value living area higher, with strong evidence from both OLS and quantile regression estimates. However, inconsistent results were found for the apartment floor. Flexible functional specification, namely floor level dummy variable form, revealed statistically significant interaction with elevator access in the whole market sample. In addition, non-linear price dynamics were found. Examination of the price segment dynamics using subsample OLS regressions provided supporting evidence for increased willingness to pay for higher floors in the high-valued segment. However, quantile regression estimates contradicted these. In fact, the difference between segments seems to be inverse from the hypothesized, although consistent significant differences were not found, except for individual floors.
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    Servant leadership and tertius iungens orientation – employee’s collaborative brokerage orientation as facilitator of organizational success in the era of digitalization
    (2024) Koskela, Tiina-Maija; Diehl, Marjo-Riitta; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    This study explores the relationship between the perceived servant leadership and tertius iungens orientation, as well as the possible factors affecting them. Tertius iungens orientation (TIO) “the third who joins” (Obstfeld, 2005) is a strategic and behavioral orientation where person, using her or his social networks, tries to connect people who would benefit from an alliance or tries to connect two disconnected actors/operators. These alliance and social network builders are important resource to the companies due to fact, that organization, team, and individual benefits from collaborative brokerage orientation. For example, TI orientated people’s behavior helps to build trust between people and thus it helps co-workers to increase team cohesion. On the other hand, it benefits the company, hence trust between parties is a productive platform for innovations, efficient negotiations, and deal making, but also for developing the working community (Chan and Mak, 2014; Obstfeld, 2005). All these aspects are connected to the company’s overall performance. Secondly, when the competition for the most skilled employees will intensify in the future, one key point to growth is to explore the leadership styles. Current and future leadership research have focused on examining reciprocal action or influence between leader and employee (Avolio et al., 2009). Scholars have eagerly tried to identify the effective leadership style and factors that improve organizational performance. This study examines the servant leadership behavior’s possibility to enforce or cause employee’s collaborative brokerage orientation (TIO), since servant leadership has proven to have several positive outcomes. Also, Bandura’s (1977) Social learning theory serves a model (learning via observation, imitation and modelling) to explore servant leadership behavior effects on employee’s behavior (Liden, 2008; Liden 2015). In addition, the moderating role of general-self efficacy and networking ability was explored. The data for this multilevel analysis was collected via quantitative questionnaire from 344 employees in 18 organizations. The results indicate that individual with high networking ability benefits of leader’s servant leadership behavior when observing the degree of employee’s tertius iungens orientation.
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    Finding motivation groups within customers – Case Tali Tennis Center cluster analysis
    (2024) Inberg, Emil; Penttinen, Esko; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The discussion of intrinsic and extrinsic motivation has been ongoing for many decades. This study focuses on how the form of motivation affects customer value creation by examining the customer questionnaire data from Tali Center, which is one of the biggest inside tennis centers in Europe, utilizing a theoretical background of Self Determination Theory. The motivational variables were compressed into three components: Intrinsic Component, Extrinsic Component I and Extrinsic Component II. K-means cluster analysis was conducted based on these components and it resulted in two clusters: Intrinsically motivated Cluster and Extrinsically motivated Cluster. The characteristics of the clusters were extended by conducting a cross tabulation analysis which resulted in significant differences in demographic variables between the clusters. Finally, the differences in customer satisfaction, frequency of visits, and willingness to pay were examined in ANOVA analyses. The main findings of this study are that intrinsically motivated customers have a higher level of customer satisfaction (1), the form of motivation is not significant when it comes to willingness to pay or frequency of visits (2), female customers demonstrate more intrinsic motivation than male customers (3), and that age is not a significant determinator in motivation (4). The findings of this study provide support for Self Determination Theory. When it comes to managerial implications of this study, sport center managers can more easily recognize differences between their customer segments and target services more efficiently.
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    Rahapelimarkkinoiden sääntely: monopoli ja lisenssijärjestelmä
    (2024) Sanaksenaho, Aapo; Saarimaa, Tuukka; Taloustieteen laitos; Kauppakorkeakoulu; School of Business
    Rahapelaaminen ja rahapelimarkkina on kasvanut ajan myötä, mutta myös ongelmapelaaminen on yleistynyt. Ongelmapelaaminen aiheuttaa haittaa ja kustannuksia yksilölle sekä yhteiskunnalle, ja rahapelimarkkinoita säädellään tämän negatiivisen ulkoisvaikutuksen takia. Tunnettuja sääntelymuotoja ovat monopoli ja lisenssijärjestelmä. Rahapelaamisella on myös positiivisia vaikutuksia yhteiskunnalle työpaikkojen ja verojen muodossa. Käsittelen tässä tutkielmassa kumpi järjestelmä olisi teoreettisen ja empiirisen tutkimukseen valossa kannattavampi tapa säännellä markkinaa, kun otetaan markkinoiden mekanismit sekä positiiviset että negatiiviset vaikutukset huomioon. Vertailen järjestelmiä kirjallisuuskatsauksena tarjonnan, kysynnän, nettipelaamisen ja intressiristiriitojen kautta pitäen ongelmapelaamisen koko ajan analyysissä. Tarjontaan perustuvan teoreettisen tutkimuksen mukaan monopoli tuottaa suurimman kokonaishyvinvoinnin rahapelimarkkinalla. Teoria kuitenkin olettaa kysynnän olevan yksikköjoustavaa ja monopolin maksimoivan voittojensa sijasta alueen kokonaishyvinvointia. Vedonlyönnin kysyntä osoittautui joustavaksi ja elektronisten peliautomaattien joustamattomaksi varhaisempien empiiristen tutkimusten mukaan. Kysynnän perusteella vedonlyöntiin sopisi lisenssijärjestelmä, koska kilpailun myötä hinta on siinä alhaisempi. Peliautomaatteihin taas monopoli, koska kysyntä ei kärsisi samaan tapaan korkeammista hinnoista. Uudemman tutkimuksen mukaan peliautomaattien kysyntä oli monopolin alaisuudessa kuitenkin joustavaa. Nettipelaaminen vaikeuttaa sääntelyn muodostamista, koska markkinasta on tullut globaali. Yhden dollarin nettipelaaminen on vähentänyt perinteisen rahapelaamisen tuottoja noin 30 sentillä Yhdysvalloissa eli ne ovat toistensa substituutteja. Nettipelaaminen oli vähentänyt samassa edellä mainitussa suhteessa monopolin tuottoja Ruotsissa. Lisenssijärjestelmä olisi nettipelaamisen kannalta parempi muoto perustuen hintakilpailuun ja netin sääntelyn vaikeuteen. Molemmissa järjestelmissä esiintyy intressiristiriitoja, mutta monopolissa ne liittyivät vahvemmin sääntelijän omaan rooliin. Järjestelmien välillä ei havaittu yhteyttä ongelmapelaamisen yleisyyden kanssa.
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    Does speaking order matter for equality of participation during meetings? Results from experiments with Malawian farmers
    (2024) Caregnato Garcia, Marina; Stryjan, Miri; Taloustieteen laitos; Kauppakorkeakoulu; School of Business
    In developing countries, the selection of public investments and projects has been continuously delegated to community-based meetings. At the same time, verbal communication, which takes place during these meetings, is sequential by nature. This thesis investigates how changes in the order in which individuals speak in a sequence affect their quality of participation during collective decisions. I use data collected during laboratory experiments performed with 71 groups of farmers in central Malawi in 2015 and 2016. In order to collectively decide on a good to be financed, farmers were randomly assigned with a speaking order, and following this random order, each individual was asked to provide a public and verbal suggestion about his/hers preferred investment option. I find that farmers who are assigned to early speaking positions are more likely to provide suggestions in the sequences, as opposed to remaining silent. They are also more likely to provide new suggestions, instead of conforming to the choices of previous speakers. Overall, I find no significant differences in the effects of speaking early between the marginalized - including non-leaders, the least educated, females, the poor, and individuals with no iron sheets in their dwelling - and other individuals. JEL codes: D71, D72, D91, O12.
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    Employer brand image in public organizations: A single case study of Uusimaa TE office
    (2024) Savolainen, Katri; Eräranta, Kirsi; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    Research has shown that employer branding offers possibilities to attract and retain talent, improve employer engagement, and even customer outcomes. However, existing literature focuses mainly on the external perspective of employer brand image, particularly on job applicants’ perceptions. In addition, research on how the concept of employer brand image applies to public sector organizations remains rare, even though the public sector faces competitive pressures in the labor market and distinct challenges in talent attraction and retention. Understanding the internal and construed external perspectives of employer brand image is crucial for identifying factors that attract and retain employees in public organizations. This study explores how employees in Finnish public employment services perceive their organization’s employer brand image, focusing on the internal and construed external perspectives of employer brand image. Additionally, the aim is to find out to which dimensions of the employer brand are perceived most important by the employees. Data from interviews with seven psychologists employed at Uusimaa TE Office was analyzed with qualitative content analysis. Findings show that the employees of Uusimaa TE Office perceive their organization’s employer brand image positively, particularly valuing its functional and psychological dimensions. However, this study indicates that in the public sector the economic dimension might not significantly impact employee retention as long as economic value is perceived as satisfactory. The perceptions regarding the construed external employer brand image were considerably negative compared to the internal employer brand image. This study indicates that examining the internal employer brand image of public sector organizations can reveal their true strengths and provide insights for aligning internal and external employer branding strategies. The findings indicate that incongruence between internal and construed external employer brand images may exist in public sector organizations, since the sector’s reputation can affect construed external employer image despite employees’ positive personal experiences. In addition, this study revises Berthon, Ewing, and Hah’s (2005) five-factor framework by identifying brand value and work well-being dimensions in the public sector context.
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    Equity mutual fund attributes and performance
    (2024) Voutilainen, Riku; Malo, Pekka; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This thesis explores the influence of various attributes on the performance of equity mutual funds, with a special focus on the Finnish investors’ perspective. The primary objective is to identify which fund characteristics significantly affect fund performance, thereby providing valuable insights for both individual and institutional investors. The research adopts a quantitative approach, utilizing panel regression analysis to examine the relationship between fund attributes such as fees, fund age, cashflows, past performance, and investment strategies, and their impact on abnormal fund returns. The findings reveal that certain attributes, notably recurring fees, have a significant inverse relationship with fund performance. Additionally, the study documents a mean-reversion effect in fund performance and establishes a positive relation between lagged fund cashflows and abnormal performance. The impact of the fund investment strategy on performance is also analyzed, demonstrating its considerable effect in explaining between-fund variations. These results have important implications for investors and fund managers, suggesting that a careful selection of funds based on specific characteristics can lead to better investment outcomes. While the study provides a robust analysis within the scope of the Finnish equity mutual fund market, its findings also open avenues for further research in broader contexts.
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    Towards distributional ecosystem accounts: An illustrative example of forest ecosystem assets in Finland
    (2024) Panelius, Rufus; Liski, Matti; Taloustieteen laitos; Kauppakorkeakoulu; School of Business
    Determining who owns and benefits from natural capital is challenging as typically ecosystems and ecosystem service flows are tied to a specific location, potentially exhibiting significant spatial variation. This thesis addresses the issue by combining geospatial forest data and administrative registries of personal incomes into a novel dataset, linking all privately owned forests in Finland to their owners and shedding light on the distribution of forest ownership across the income distribution. To demonstrate how ecosystems contribute to incomes, two key forest-based ecosystem services – timber provisioning and carbon sequestration – are quantified in biophysical and monetary terms and the beneficiaries are identified in the income distribution. In contrast to the total wealth distribution, the study finds that forest ownership exhibits a relatively even distribution across income levels, although still concentrated to only 10% of the population. The bottom 50% of the income distribution owns 29% of forest area, the middle 40% owns 44% and the top 10% owns 27%. Notably, no large systematic variations in forest characteristics such as age or growth rate are observed across income levels, although within group variation is considerable. Using an ecosystem accounting framework, the monetary values of forest ecosystem service flows are found to be substantial, with a higher relative impact at lower income levels. This emphasises the significance of timber as a source of income for low-income forest owners, but also the potential of sequestration-based subsidies to dramatically increase incomes of these owners. This thesis contributes to the broader literature on inequality and the environment by demonstrating how distributional aspects of natural capital can be explored by integrating distributional national accounts and ecosystem accounts. Merging detailed geospatial ecological data with administrative registries provides nuanced evidence to support assessments of how environmental policies impact different groups in society.
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    An analysis of the drivers of consumers' purchasing behavior in quick commerce platforms
    (2024) Luna Sanchez, Pedro; Tuunainen, Virpi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    As shopping through quick commerce apps becomes more popular, it's essential to figure out what makes people buy things on these platforms. The study leverages two models, the Mobile Service Quality (M-SERVQUAL) and the Technology Acceptance Model (TAM) to analyze the interplay of these factors. With 120 valid responses collected through online surveys, a Partial Least Squares-based Structural Equation Modelling (PLS-SEM) approach was employed for analysis. Our findings suggest that Technology Acceptance factors including perceived usefulness and perceived ease of use, along with mobile service quality factors such as interface quality and information quality, are closely linked to consumer purchasing behaviour. This means they directly and positively influence consumer purchasing behavior. Interestingly, while interaction quality also emerged as a factor tied to consumer purchasing behaviour, it didn't significantly impact it due to the varying user preferences and expectations. This highlights the dynamic nature of quick commerce platforms. The implication is that factors traditionally acknowledged as crucial in m-commerce may not always uniformly dictate consumer choices. As such, this research provides platform developers, businesses, and other stakeholders, with a thorough understanding of the determinants that distinctly influence quick commerce platform purchasing behaviour. This understanding is key for tailoring strategies and improving platform features, ensuring a more effective and user-centric approach in the rapidly evolving field of quick commerce.
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    EU-taksonomia kiinteistö- ja rakennusalan yritysvastuun mittarina – Tutkimus taksonomialainsäädännön vaikutuksista rahoituksen hankkimisessa erityisesti uudisrakentamishankkeissa
    (2024) Kollin, Juuso; Kuoppamäki, Petri; Hietanen-Kunwald, Petra; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Erilaiset kestävyysteemat ovat olleet kiinteistö- ja rakennusalalla jo verrattain pitkään liiketoiminnan yhtimessä. Alaa onkin toisinaan pidetty jopa edelläkävijänä vihreän rahoituksen markkinoilla. Esimerkiksi erilaisia ympäristösertifiointijärjestelmiä on jo pitkään käytetty alalla työkaluina, jotka mahdollistavat eri rakennusten kestävyysvertailun. Unionin hiljattain lanseeraama kestävän rahoituksen luokittelujärjestelmä, EU-taksonomia, on tuonut alalle uuden arviointikriteeristön, jolla rakennusten ympäristönmukaisuutta – ja kestävyyttä laajemminkin – voidaan arvioida. Taksonomialainsäädännön tarkoituksena on ollut luoda tieteeseen perustuva standardoitu määritelmä siitä, millaisia toimintoja on pidettävä kestävänä, ja sillä tavoin edistää eri sijoitustuotteiden läpinäkyvyyttä ja minimoida viherpesun riski. Näyttäisi kuitenkin siltä, että kiinteistösijoittamisessa ei välttämättä olekaan ollut toimivana ja luotettavana pidetyn ympäristösertifiointijärjestelmän vuoksi yhtä paljon kysyntää erilliselle taksonomialuokittelulle kuin muihin omaisuusluokkiin sijoittaessa. Tutkielman tarkoituksena onkin perehtyä siihen, millaisia vaikutuksia EU-taksonomialainsäädännöllä on ollut hankittaessa rahoitusta erityisesti toimitilakohteen uudisrakentamishankkeelle. Lisäksi tutkielmassa perehdytään siihen, mikä on alalla omaksuttujen ympäristösertifikaattien ja EU-taksonomian välinen suhde rahoituksen saantiin vaikuttavana tekijänä. Tutkimusmenetelmältään kyse on empiirisestä oikeustutkimuksesta. Keskeisimpänä tutkimuskohteena ovat osana tutkielmaa toteutetut haastattelut. Haastatteluaineistoa täydentävät lisäksi alan eri markkinatoimijoiden vastuullisuuskatsaukset- ja raportit. Kerätyn empiirisen aineiston perusteella vaikuttaisi, että kohteen taksonomian mukaisuus lisäisi halukkuutta rahoittaa kohdetta. Kuitenkaan kohteen taksonomian mukaisuudella saatava rahoituksen hintaetu ei näytä olevan mitenkään merkittävä. Toisaalta rahoituslaitosten ja sijoittajien omat vastuullisuustavoitteet ja raportointivelvoitteet vaikuttaisivat ohjaavan rahoitusvirtoja yhä enenevissä määrin taksonomian mukaisiin kohteisiin. Sen sijaan EU-taksonomia ei ainakaan ensi vaiheessa näytä ajavan ympäristösertifikaattien käyttöä alas. Suomen kiinteistö- ja rahoitusmarkkinat ovat korostuneen kansainvälispainotteiset, millä on osaltaan vaikutusta siihen, että ympäristösertifikaatit, erityisesti BREEAM- ja LEED-sertifikaatit, näyttäisivät edelleen säilyvän alalla käytettävinä vastuullisuusmittareina.
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    Opportunities and challenges in implementing blockchain and smart contracts in the Finnish insurance industry
    (2024) Hänninen, Elina; Rossi, Matti; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    Due to the market pressures and issues regarding insurance processes, traditional insurance companies must undergo a business transformation. The adoption of emerging technologies is seen as a crucial lever for achieving success in this business transformation. Among these technologies, prior research has considered blockchain and smart contracts as groundbreaking innovations capable of facilitating the business transformation. However, the academic literature is still limited and predominantly focused on the technological aspects. Additionally, insurance industry remains underrepresented in the existing blockchain literature. Hence, this thesis adopts a qualitative approach by conducting semi-structured interviews to gain understanding of the opportunities and challenges in implementing blockchain and smart contracts in the insurance industry. This research identified several benefits for the insurance industry stemming from theimplementation of blockchain technology and smart contracts. Among benefits include automation of claim submission and processing, improved fraud prevention and risk assessment, data security, enhanced customer experience, and operational excellence. Furthermore, innovative products that will attract new customers and provide competitive advantage to the insurance company, can be built on blockchain and smart contract technology. Moreover, with the support of these tools, defining multinational insurance policies becomes quicker and cheaper. While blockchain technology holds significant potential benefits and is accompanied by high expectations, this study suggests that, in its present state, blockchain may not be the optimal technology for the insurance sector. This is primarily due to legislative constraints, but there are also several organizational, technical, network governance, and ownership issues that impede the implementation of blockchain and smart contracts.
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    Turning quantum science into quantum business: Entrepreneurial narratives in deep tech
    (2024) Schauman, Christa; Granqvist, Nina; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    Previous research in strategy and entrepreneurship underscores the pivotal role of narratives as a means for entrepreneurs to establish legitimacy and secure support for their ventures. The significance of narratives becomes particularly evident when validated facts are lacking, a common scenario for start-ups in nascent industries. Despite the growing body of literature, limited attention has been paid to examining the role and utilization of narratives in the field of deep tech. To address this gap, this thesis conducts a detailed case study in quantum computing. Applying qualitative methods, the study reveals three main benefits of entrepreneurial narratives in the early stages of venturing. First, narrative accounts enhance the accessibility of complex innovation by employing analogies, metaphors, and visualizations. Second, they instill confidence in the abilities of the entrepreneurs and their mission through suggestion and identification, and third, provide direction by establishing expectations. Additionally, the study illuminates the interplay between entrepreneurial capital and expectations as the focal content of narratives. The study provides insight on effective science communication and public engagement strategies in the initial phases of venturing in deep tech. The research contributes to academic knowledge by synthesizing approaches to narratives in venturing.
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    Toimittajan virhevastuu ketterässä IT-projektissa: mitä toimitussopimuksissa tulee huomioida laatuvirheiden osalta?
    (2024) Mutanen, Tommi; Hietanen-Kunwald, Petra; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Ketterät menetelmät ovat yleistyneet ohjelmistokehityksessä 2000-luvun alusta alkaen samalla, kun vesiputousmallin käyttö on alkanut vähentyä. Ketteriä menetelmiä käytettäessä asiakkaalta odotetaan aktiivista yhteistyötä toimittajan kanssa, kun taas samaan aikaan projektidokumentaatiota tai ohjelmistotoimitusta koskevia sopimusneuvotteluita ei nähdä ketterien menetelmien pääperiaatteiden mukaan niin tärkeinä. Sopimuksilla ja dokumentaatiolla on kuitenkin edelleen merkitystä. Etenkin virhevastuuseen liittyvien kysymysten kannalta ne ovat kriittisiä, sillä ketterissä ohjelmistoprojekteissa virheen määritelmä ja virhevastuun määräytyminen ovat vesiputousmalliin verrattuna monimutkaisempia. Virheet ovat yksi yleisimpiä konfliktien aiheuttajia toimittajan ja asiakkaan välillä, ja ne voidaan käsittää osapuolten intresseistä ja näkemyksistä riippuen myös muutospyyntöinä. Tämän tutkimuksen tarkoituksena on selvittää, mitä virhe tarkoittaa ketterässä ohjelmistokehityksessä sopimusoikeudellisesta näkökulmasta, ja mitä toimittajan kannattaa ottaa huomioon ketterissä implementointityötä koskevissa toimitussopimuksissa virhevastuuseen liittyen. Tutkimus on oikeusdogmaattinen tutkimus, ja sen aineistona toimivat pääosin sopimusoikeuden kirjallisuus ja IT 2022-ehtokokoelma. Toimittajan virhevastuuseen liittyvät kysymykset tuotiin esille tunnistamalla ja systematisoimalla virhevastuun sekä sen rajoittamisen kannalta keskeisimpiä sopimusehtoja. Sopimusehtoja tarkasteltiin hyödyntäen sanamuodon mukaista tulkintaa. Lisäksi tutkimuksessa hyödynnettiin ruotsalaisia ketterien ohjelmistotoimitusten sopimusehtoja joidenkin tutkimustulosten havainnollistamiseksi. Tutkimuksessa todettiin implementointityötä koskevien toimitussopimusten olevan pitkäkestoisia palvelusopimuksia, jolloin sopimuksia ei käytännössä sääntele mikään laki, eikä kauppalain analogiaa voida sopimusvastuuseen liittyvissä kysymyksissä juuri hyödyntää. Ohjelmistokehityksessä virheeksi käsitetään yleisesti tilanne, jossa ohjelmiston koodi ei toimi halutulla tavalla. Koska ketterässä projektissa toimittaja on yleensä sitoutunut toimintavelvoitteeseen, voivat virhevastuuseen liittyvät kysymykset olla monimutkaisia tulosvelvoitteeseen verrattuna. Monimutkaisuuteen vaikuttaa myös se, että asiakas osallistuu aktiivisesti kehitystyöhön, ja ohjelmistoon syntynyt virhe voi siten olla peräisin kumman tahansa osapuolen virheestä. Tutkimustuloksissa havaittiin myös, että virheen ja muutospyynnön erottamiseen toisistaan tulee hyödyntää asiakkaan vaatimuksien pohjalta laadittuja määrityksiä, mutta asiasta tulee sopia erikseen. Lisäksi virheet tulee luokitella olennaisiin ja epäolennaisiin virheisiin tarkemmin kuin miten ne on esimerkiksi yleisissä sopimusehdoissa luokiteltu. IT 2022-kokonaisuus on kuitenkin yleisesti hyvä lähtökohta sopimusehdoille, mutta virhevastuuseen liittyviä kohtia voi olla aiheellista täsmentää, minkä lisäksi toimitussopimuksen tulisi tukea osapuolten välistä yhteistyötä. Toimitussopimuksesta tulisi käydä ilmi, minkälaisiin velvoitteisiin osapuolet ovat sitoutuneet, joskin useimmiten ketterissä ohjelmistoprojekteissa toimittaja on sitoutunut toimintaan. Virheen käsitteen ja virhevastuun määräytymisen selkeyttämiseksi toimittajan kannattaa määritellä virheeksi sellaiset tilanteet, joissa toiminnallisuus ei vastaa asiakkaan hyväksymiä määrityksiä. Tätä varten tarvitsee sopia erillisestä määritysten hyväksymismenettelystä. Menettelyllä saadaan tehtyä selkeä ero virheen ja muutospyynnön välille, ja asiakkaalla on vahvempi intressi osallistua aktiiviseen yhteistyöhön. Lisäksi kannattaa sopia, ettei toimittajan virhe ole julkaisujen yhteensopimattomuus, mikäli se johtuu asiakkaan huolimattomasta työlistan priorisoinnista tai sen puutteellisesta sisällön suunnittelusta. Piilevien virheiden ja välillisten vahinkojen osalta toimittajan kannattaa rajata vastuutaan. Vaikka toimitussopimukset ovat perinteisin sopimusajattelun mukaisesti ennaltaehkäiseviä sopimuksia, kannattaa funktionaalisen sopimusajattelun periaatteita harkita, sillä ne ohjaavat sopimuspuolia tiiviimpään yhteistyöhön, mikä on myös ketterien menetelmien periaatteen mukaista. Yhteistyönäkökulmaan voi myös vaikuttaa panostamalla sopimusehtojen muotoiluun. Toimiva yhteistyö on lopulta tehokkain tapa ehkäistä virheiden syntymistä ja niistä aiheutuvia konflikteja osapuolten välillä.
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    Strategic insights into Amazon advertising – Data-driven approach to Amazon eCommerce
    (2024) Dahlberg, Tommi; Liu, Yong; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This master’s thesis studies the impact of advertising strategies and efforts on product ranking and profitability in Amazon's eCommerce platform, focusing on a Finnish company's health-related products in the Amazon Germany marketplace. Through a detailed analysis of two products, Omega 3 and Vitamin C, the thesis further studies the relationship between advertising spending and key performance metrics such as profit percentage and organic search ranking. Utilizing data received from the Case company which is originally from Amazon Brand Analytics, Helium 10, and Amazon Sponsored Products, the research reveals some effects of advertising strategies on product performance. The thesis also highlights the variability in results across different products and search terms. The findings can contribute to a deeper understanding of Amazon's marketplace dynamics and offer insights into the role of advertising in Amazon's e-commerce success. Limitations and suggestions for future research are also discussed in the thesis, which emphasizes the need for a broader dataset and a longer time-period for the data.
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    A path to enriched organizational learning via post-completion auditing in R&D investments: A constructive study
    (2024) Heikkilä, Lauri; Huikku, Jari; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Research & development (R&D) investments are often complex and risky projects having a significant effect on company’s financial success. Post-completion audit (PCA) is defined as quantitative and qualitative comparison of actual, ex post cash flows and figures with the forecasted ex ante figures and estimations of the capital budgeting project. Even though PCA has been widely recognized correlating positively with companies’ success, it has gained less attention in academic research in comparison with other phases of capital budgeting process. This thesis aims to create a construct for PCA-system to enhance organizational learning (OL) in publicly listed Finnish high-technology manufacturing company that has high emphasis on R&D investments. Empirical material for the thesis were acquired from seven semi-structured interviews as well as by utilizing company’s internal material to supplement the interview data. The construct was created by utilizing the constructive research method by Kasanen et al. (1993). The main contribution of this thesis is the construct that was created for the case-company to steer and adjust its PCA process into a more OL-conducive direction, and to improve current situation considering R&D project estimates in company. Secondary contribution of this thesis arises from its R&D context which has been previously neglected as an investment type in PCA literature. However, due to characteristics of case company, the findings of this thesis may have only a limited applicability for other companies.
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    Brand alliances as corporate social responsibility messengers: enhancing music festivals’ branding through responsible partnerships
    (2024) Launikari, Petra; Kajalo, Sami; Markkinoinnin laitos; Kauppakorkeakoulu; School of Business
    Corporate social responsibility (CSR) has become a foundational expectation for organizations spanning various industries, driving them to seek innovative and impactful initiatives to fulfil their CSR objectives. In the realm of music festivals, increasingly conscious audiences demand socially responsible actions to ensure a seamless and responsible festival experience. This continuously evolving need for CSR significantly influences the operations and stakeholders of music festivals, such as brand alliances. As brand alliances are a significant part of the festival experience, music festivals should strategically implement brand alliances in alignment with their brand values and CSR practices. The primary objective of this research was to investigate how responsible brand alliances contribute to enhancing the branding of music festivals. The theoretical framework comprises two main themes: CSR branding and brand alliances. These themes were explored individually through secondary research questions aimed at comprehending the execution of CSR by music festivals and understanding the dynamics of brand alliances and partner selection within this context. The study sought to examine the interplay between CSR and brand alliances and their collective impact on enhancing the (CSR) branding of music festivals. The study was conducted within the context of Finnish music festivals, employing qualitative research methods and adopting a case study approach. Empirical data for the research was collected through thematic interviews with six individuals responsible for managing festival brand alliances. The analysis was followed a theory-guided content analysis approach, structured according to the conceptual model derived from the theoretical framework. The findings underscore that music festivals utilize brand alliances not only to enhance the festival experience but also to address a range of societal issues. The study highlights the pivotal role of responsible brand alliances as influential tools for communicating and executing CSR initiatives. Through strategic partner selection aligned with shared values, music festivals can leverage brand alliances to bolster their CSR efforts. The study concludes that responsible music festivals can enhance their (CSR) branding by creating alliances that resonate with festival values, emphasize responsibility, and enhance the overall festival experience for their audience.
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    Measuring sustainable performance: Selection and use of the environmental performance measures
    (2024) Louhento, Jerome; Malmi, Teemu; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    This thesis is researching how environmental performance measures are selected and used in companies. The research questions of this study are: What kind of process is involved in deciding and updating environmental performance measurements, what factors and ra- tionales affect decisions regarding environmental performance measurements and finally, how sustainable performance measurements are used in the decision-making process. Environmental issues in academic literature became a relevant topic a few decades ago but within the last decade the topic has gained rapidly increasing attention from compa- nies, consumers, and from academic literature. However, environmental performance measuring is a fairly new topic in the management accounting related literature. This thesis is a qualitative field-research, and the case company is a Finnish multina- tional company. The research approach of this thesis is explanatory, meaning that the re- searched phenomena will be described as it is and afterwards explained how and why re- searched phenomenon has occurred. The case company is a forerunner in sustainable re- lated matters having highly ranked certificates and standards which makes it interesting to research from the point out view of the research questions. The empirical data has been mainly gathered from interviewing the key personnel related to environmental processes. This research shows that companies utilize different practices and employees with vari- ous ranks in their environmental performance selection process. The most common ra- tionale for selecting the environmental performance measures was the direct savings from operational costs. Also, rationales that add indirect value such as building legitimacy and a better image were noticed in the study. The factors affecting the environmental perfor- mance measures decisions were found to be size, maturity, and industry of the company. Environmental performance measures are used in the decision-making process in many ways. The environmental decision-making process is dependent on the environmental in- formation gathered. The design of the environmental performance measurement system affects how the information is utilized in decision-making. Environmental performance measures also require frequent updates to enable the relevant data gathering for the com- pany. Environmental incentives were used to guide employees towards more sustainable actions. Companies also consider environmental information in capital expenditures by as- sessing the environmental impact, for example selecting a more environmentally friendly option.
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    Ugly truth or beautiful lies? NGOs' experiences of stakeholder engagement in Finnish forestry
    (2024) Abildsten, Silja; Piekkari, Rebecca; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    In today's highly relational world, stakeholder relations play a crucial role in bridging business, society, and stakeholders. As corporate social responsibility gains prominence, companies must seek strong forms of engagement and symmetrical relations with stakeholders. This necessity is heightened in the Finnish forestry industry, as the sector faces increased scrutiny due to public discourse on the collapse of carbon sinks, emphasizing the urgent need for responsibility within the industry. In this context, effective stakeholder engagement becomes increasingly crucial. Nevertheless, stakeholder relations in the Finnish forestry industry prove complex, with a notable research gap on stakeholder engagement, particularly concerning the perspective of NGOs. The purpose of this research is to investigate stakeholder engagement in the practical application of forestry by examining the alignment of aims, activities, and impacts of NGOs’ stakeholder engagement. The study explores challenges in effective stakeholder engagement in forestry overall and specifically addresses the issue of carbon sinks. As the theoretical framework of the study, I use stakeholder engagement literature in the domains of business and society, environmental management, and environmental policy. Employing a qualitative, case study approach rooted in a constructivist paradigm, my data collection involves semi-structured interviews and secondary research. Thematic analysis provides a comprehensive understanding of the findings. The findings of my research reveal that advocates participate in stakeholder engagement primarily driven by a moral obligation to advocate for nature, employing both cooperative and adversarial approaches. The NGOs’ engagement activities include meetings, negotiations, involvement in political working groups, media advocacy, and direct activism. Two contrasting perspectives on engagement emerge, with some organizations acting as watchdogs and others promoting collaboration and compromise. Challenges arise from conflicting strategies, greenwashing, data unreliability, and occasional misconduct. Significant challenges surface in engagement related to carbon sinks, such as a lack of a common knowledge base, understanding of the biodiversity-climate nexus, strategic alignment, and a suitable engagement forum. Nevertheless, most NGOs maintain good stakeholder relations supported by trust, honesty, mutual understanding, congruent strategies, reliable data, and public pressure. My study identifies a lack of a systematic approach among NGOs in setting goals and measuring impact, the latter partially stemming from the delayed visibility of tangible outcomes in environmental work. Despite setting environmental aims, NGOs find stakeholder engagement worthwhile when it fosters and sustains good relations, highlighting its relational nature.