[kand] Kauppakorkeakoulu / BIZ (Open Access)

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    The Company Ownership Effect On Risk-Taking
    (2023) Lehtonen, Anton; Pham, Ly; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    This thesis comprehensively covers the research made regarding the effects of ownership structure on company’s risk-taking profile, since it has been shown to be an important factor regarding the decision making and strategic policies of companies. This paper will divide the ownership structure into two different segments to better understand the individual effects that different factors have regarding the risk-taking of firms. And show how different studies measure the risk-taking of companies with different preferences. The current research has not come to a conclusion on the effects of ownership structure and different studies have shown varying results. Because of this I want to explore the different findings and try to better understand the different underlying factors that play a part in the decision-making process of different groups and how they are affected by the change of their equity owned.
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    Key Drivers and Machine Learning in Personalized Mobile Banking - Opportunities and challenges for retail banks
    (2024) Ruuhikorpi, Leevi; Seppälä, Tomi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This thesis explores the integration of AI-driven personalization into retail banks' mobile banking services. It investigates the opportunities and challenges arising from this convergence as retail banks seek to fulfil customer expectations for convenience and engagement in the retail financial sector. Consumer expectations for personalized services are on the rise, creating a dynamic where companies must navigate the balance between personalization and cost-effectiveness in the development of mobile banking. To comprehensively analyse this, a broad literature review is chosen as the research method. The findings reveal that AI-powered personalization holds promise in enhancing user engagement but poses challenges related to scalability. Tailoring strategies to the unique needs and preferences of each customer segment is crucial. Transparency, user control and user empowerment are key factors in building trust in AI-driven financial services. In summary, this thesis offers insights into the potential of applying machine learning algorithms to enrich and personalize the mobile banking experience for retail banks, giving insights to retail banks, and researchers alike.
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    Role of Bride Price in Africa: Upholding Child Marriages or Increasing Girls’ Education?
    (2024) Hakola, Anna; Stryjan, Miri; Taloustieteen laitos; Kauppakorkeakoulu; School of Business
    This thesis is a literature review that investigates how a cultural norm, the bride price tradition, is directing people’s economic behavior in Africa. Bride price is a marriage practice where the groom makes a payment to the bride’s family upon marriage, either in the form of money, cattle, or commodities (Nyyssölä 2022). More specifically, this thesis investigates how bride price links to child marriage and women’s education. Findings include that bride price appears to encourage parents to send their daughters to marriage early, as a way to smooth consumption under poverty (Corno and Voena 2023, Corno et. al 2020). On the other hand, bride price increases in a woman’s education, therefore incentivizing parents to educate girls (Ashraf et. al 2020). Alternative methods for parents to smooth consumption and incentivizing girls’ education are discussed. These methods include microfinance and conditional and unconditional cash transfer programs. From this discussion, it is concluded that microfinance holds potential to provide families with enough means to educate their daughters and thus prevent child marriage (Abdullah et. al 2015). When a cash transfer program is conditional on a girl’s education, it appears to improve girls’ schooling rates (Baird 2011).
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    United States’ Impact in Stock Return Predictability in the Scandinavian Markets
    (2023) Raij, Sampo; Lof, Matthijs; Rahoituksen laitos; Kauppakorkeakoulu; School of Business
    I examine whether lagged US excess returns have had a predictive relationship with excess returns in Sweden, Denmark and Norway from 1996 to 2020. I divide the time frame into three separate groups to see how the potential lead-lag-effect has developed over time. Over the entire 25-year time period, there were no statistically significant effects. However, from Jan 2001 to Dec 2010, the US Granger caused Danish stock market excess returns on statistically highly significant level. I was unable to determine whether the predictive relationship has weakened over time, though continuously smaller R2-values would seem to support this theory. The results indicate that if the US hasn’t had predictive power over the Scandinavian markets since 2010, and that the predictive strength would seem to be at its highest in times of market shocks originating from the US, implying that the prior predictive relationship stemmed from gradual information diffusion from the US to Scandinavia.
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    Exploring the challenges in international buyer-supplier relationships in the Japanese tea industry
    (2024) Kauppila, Sara; Hekkala, Riitta; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The abroad market for Japanese tea has opportunities but also many challenges. This paper focuses on exploring the challenges small to medium Japanese tea producers and tea retailers outside of Japan experience in their buyer-supplier relationships with each other. The goal of the research is to analyse the challenges and their impact on the two parties. The challenges in the buyer-supplier relationship are explored through interviews that bring out the perspectives of both parties. This research finds that the most significant challenges are the cost and complexity of shipping and regulations, the language barrier, and finding a level of pricing that makes the relationship viable for both parties. As a result of these challenges, it is concluded that organisations that deem themselves well-equipped to handle these challenges can benefit from entering these international buyer-supplier relationships. However, for organisations not equipped to face the challenges, these buyer-supplier relationships are likely to pose too high of a risk.
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    The Role of Management Control Systems in Fostering Innovation
    (2024) Sjöholm, Jessika; Vaivio, Juhani; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Sjöholmin kandidaatintutkielma käsittelee johdon ohjausjärjestelmien roolia innovaation edistämisessä teorian ja empiirisen case-tutkimuksen kautta. Viime vuosikymmenten tutkimus johdon ohjausjärjestelmistä osoittaa, että järjestelmät sekä rajoittavat että edistävät innovaatiota ja innovatiivisuutta. Sjöholmin tutkielma tukee tätä käsitystä ohjausjärjestelmien erilaisista vaikutuksista, ja tuo käytännön näkökulman järjestelmien eri käyttötavoista ja niiden tasapainottamisesta suomalaisessa teollisuusyrityksessä.
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    Effects of Sustainability Reporting on Environmental Performance: Analysing the Corporate Sustainability Reporting Directive
    (2023) Saari, Oona; Movarrei, Reza; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This thesis is a literature review on the impacts of sustainability reporting on companies’ environmental performance. With the introduction of the EU’s new Corporate Sustainability Reporting Directive, the most comprehensive sustainability reporting framework so far, reporting is becoming mandatory for the majority of European businesses in the near future. This study seeks to understand the relation between reporting on environmental sustainability and whether it drives companies towards more sustainable business practices. The expected impacts of the new directive are found through a literature review on previous reporting frameworks, most importantly the EU’s previous Non-Financial Reporting Directive. While the results on earlier reporting requirements are somewhat mixed, the new directive, being much more detailed than its predecessors, can be seen as a promising tool towards a more sustainable future. Some mechanisms creating the impacts are consumer pressure, the green bullwhip effect, and the development of internal processes in order to comply with the reporting requirements.
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    Sustainability Challenges In The Second-Hand clothing Supply Chain: Traceability Issue, Environmental Consequences And Local Community, Manufacturing & Economy
    (2023) Vuorenkoski, Jaakko; Movarrei, Reza; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The global rise in clothing consumption has led to environmental and socio-economic challenges, with the second-hand clothing market rising as a sustainable alternative. This thesis explores the complexities of the second-hand clothing supply chain (SHCSC), focusing on its global dynamics, environmental impacts, and socio-economic ramifications. It examines the environmental and health hazards associated with second-hand clothing, analyzes the impacts of the SHCSC on local manufacturing, economies, and communities. This thesis also explores the political reality of clothing destination countries and examines options and recommendations regarding the issues. Lastly it considers chain liability issues and eyes the possibilities of traceability in the supply chain.
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    Navigating the Belt and Road Initiative: Implications on Partner Countries and In-ternational Relations
    (2023) Pettinen, Wilhelmina; Movarrei, Reza; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The global supply chains are evolving rapidly and China’s state-of-the-art initiative, the BRI is a project of unprecedented financial and geographical scale. It seeks to connect Asia, Europe, and Africa to a unified trading network by investing in new infrastructure and integrating financial systems. This study focuses on the implications of the Belt and Road Initiative on three case countries. The research investigates what benefits or challenges the initiative poses to the BRI countries and what governments should consider before taking part in the initiative. Furthermore, the thesis provides a brief overview of the current global political situation and how political shifts may affect the Belt and Road initiative. The study contributes to the current understanding of the BRI and provides a unique perspective on global supply chains.
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    Non-Conscious Data Collection
    (2023) Matomäki, Sofia; Seppälä, Tomi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This literature review explores the issues and risks in non-conscious data collection and evaluates people’s attitudes towards it. In the modern world, data is one of the most valuable resources, yet studies focused on the potential negative implications of the new data-driven technologies are lacking. Therefore, this thesis conducts a comprehensive literature review to identify and assess risks in non-conscious data collection technologies that are most relevant and referenced in current literature. Accordingly, the most prominent risks are related to privacy issues with personal data, bias in algorithms creating inequality, and the difficulties in creating adequate legislation. Subsequently, the thesis will explore existing studies about people’s attitudes towards non-conscious data collection and examine the most significant socio-demographic determinants of those attitudes. Therefore, despite socio-demographic factors such as age, gender, and economic status affecting the attitudes people have towards data collection technologies, this thesis argues how these approaches can be explained by varying external factors such as prior experiences with similar technologies.
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    Investigation of Non-Financial Measures in a Customer-centric Organization
    (2023) Felton, Timmy; Vaivio, Juhani; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    The purpose of this thesis is to explore the use of non-financial performance measures in the context of a Finnish consumer-electronics retailer that has a strong emphasis on customer-centricity in its strategy. The qualitative case study focuses on how non-financial measures are implemented in the target organization while using the Balanced Scorecard (Kaplan & Norton, 1992) as a theoretical reference. Additionally, the study investigates the role of non-financial measurement in the relations between different groups such as financial management and store-level sales management, drawing upon the concepts in a paper by Vaivio (1999) “Examining the Quantified Customer”. It is found that while a non-financial measure such as customer satisfaction is a central part of the oranization’s strategy, its role in driving financial performance is not clearly defined. The focus on customer satisfaction in itself without a clear link to financial benefits, indicates a potential area for further development. The lack of critical discussion between financial and sales management suggests that customer-related non-financial measures are possibly not utilized to their full potential. The study serves as a call for further research on the utilization of customer-related performance measures, namely customer satisfaction, in similar contexts.
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    The Use of Artificial Intelligence in Dynamic Pricing Strategies
    (2023) Markula, Aleksi; Movarrei, Reza; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    Pricing strategies can have a large impact on the success of a company. This literature review focuses on the advantages and disadvantages of using artificial intelligence in dynamic pricing strategies. Having a good comprehension of the possible benefits and challenges will help companies to understand the effects of the chosen pricing strategies. AI-driven Dynamic pricing has great opportunities to increase the profits of a firm. Firms can benefit from things such as personalized pricing based on per-sonal behaviour and characteristics as well as cost reductions by improving efficiency and reducing the need for manual work and using automation. AI-assisted dynamic prizing can however have a negative effect on the customers perception of trust, feeling of fairness and transparency. The negative effects can have short- and long-term effects for companies. Also, ethical issues of privacy and equality can arise as price discrimination is used. It’s equally as important to understand the businesses and the customers perspective of the pricing strategy as one can’t exist without the other. This research will consider both sides of the equation. The literature review will provide a comprehensive overview of the main advantages and disadvantages of an AI-assisted dynamic pricing strategy. The focus of this research will be in the e-commerce, hotel, and transportation industries.
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    Blockchain applications in the space industry: focus on space debris management and space governance
    (2023) Westerlund, Paul; Seppälä, Tomi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    As humanity continues to expand its efforts in outer space exploration and the number of satellite launches is growing rapidly, issues related to space debris management and space governance emerge. To conduct space activities sustainably, these problems should be solved before they turn into larger complications. To assess these issues, this paper examines the challenges that space governance and space debris management currently faces and whether or not these challenges could be solved through blockchain technology. As the thesis is conducted as a literature review, the findings of this paper are built upon existing literature in the aforementioned areas of the space industry. The challenges examined in this thesis, such as those related to the effective monitoring of space debris locations, have been identified as issues that could be addressed through the application of blockchain technology. Through the use of smart contracts, processes that would normally require human interaction could be automated to be carried out efficiently in space by unmanned spacecraft.
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    Sensemaking and Strategic Decisions: The Role of Management Accountants
    (2023) Vainionpää, Jutta; Vaivio, Juhani; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    This study provides insights into the emerging role of management accountants by exploring the role of management accountants in strategic management. The study relies on the core phenomenon of sensemaking. The theory of this study is drawn from the theoretical framework for sensemaking developed by Tillmann and Goddard (2008). The study shows that the business controllers in the case company undertake sensemaking activities to understand and to help management understand the strategic complexities better. Strategic decision-making was found to involve a certain amount of uncertainty and ambiguity. Sensemaking provides a conceptual framework for examining decision-making under these circumstances (Vaara, 2003). Thus, relying on sensemaking provides insights into the contribution of management accounting to strategic decisions. A single-case study approach allowed the exploration of social dynamics surrounding strategic decision-making. Accounting information can be seen as an essential tool for sense-making as it not only mirrors but also converts organizational reality (Roberts and Scapens, 1985) and thus can contribute to relevant insights into the sense-making process of management (Puhakka, 2017). Through sensemaking activities management accountants seem to increase an understanding of the issue being addressed in organizations, especially on strategic matters.
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    Reconciling competing logics through performance measurement systems
    (2023) Carlsson, Roy; Vaivio, Juhani; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    This thesis studies performance measurement systems as a tool for combining competing logics, through the case study of an ice hockey team. The purpose of this study is to find out how and what performance measures are used in reconciling the competing interests of sporting and financial performance. This study takes the form of a qualitative case study. It will review previous literature on the topic of performance measurement and management accounting in sports, followed by an interview with the case organization. The findings of this study mostly support previous findings. Structural differentiation was found to be an important tool for reconciling competing logics, with the organization divided into separate sporting and business units. Each unit had its own set of key performance indicators, with a few key measures being tracked by the entire organization or given added weight.
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    Key Sustainability Concerns in Implementing Extended Producer Responsibility for Textiles in the EU
    (2023) Vuori, Ilona; Movarrei, Reza; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    In July 2023, the European Commission proposed to implement Extended Producer Responsibility (EPR) for textiles to mitigate the negative environmental and social impacts of the sector. The purpose of this narrative literature review is to analyse the key sustainability concerns in the proposal by drawing from research on the existing EPR schemes, environmental and social issues in the textile industry, as well as significant barriers and drivers to circularity in the sector. This study found the key concerns to be related to the circular economy transition in the textile industry, the barriers and drivers of sustainable fashion, sustainability issues in the global used clothes trade, alternative fashion business models, challenges in the recycling of textiles, and influencing consumer behaviour. Practical suggestions to these include forming clearly defined regulations and setting the producer fees under the EPR scheme high enough to not only cover product end-of-life management costs but also incentivise circular practices and contribute adequately to research and development (R&D) funding. Areas in need of R&D initiatives include life cycle cost and impact assessment for textiles, particularly concerning clothing reuse, the fragmented global used clothes trade, textile recycling, alternative fashion business model innovation, and building consumer awareness on overconsumption. Moreover, the variables affecting the environmental and social impact of clothing reuse and recycling should be considered to avoid amplifying the current issues and more accurately reward businesses for sustainable practices. In addition, lowering the barriers and focusing on the drivers of sustainability for both businesses and consumers should be coupled with the EPR scheme to enable meaningful change in the textile industry.
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    Integrating sustainability into manage-ment control systems – Effects on sustainability strategy
    (2023) Krivokolysko, Anna; Vaivio, Juhani; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    This thesis delves into the integration of Management Control Systems (MCS) and Sustainability Control Systems (SCS) within Varma Mutual Pension Insurance Company, a financial sector entity in Finland. It investigates how this integration influences the firm's sustainability strategy by mirroring a case study done by Beusch et al. (2022). Utilizing Simon’s (1995) Levers of Control (LOC) framework and Gond et al.’s (2012) integration typology, the study provides insights into the use of MCS and SCS in managing sustainability-related risks and opportunities. This research aimed to answer the main research question: How does MCS-SCS integration support or hinder the development and implementation of an integrated sustainability strategy? The integration of MCS-SCS at Varma was a complex process, initiated in 2016 and still evolving due to the dynamic nature of sustainability metrics and stringent reporting standards. The investment operations department effectively merged sustainability and financial metrics, utilizing tools for risk management, KPI metrics, and scenario analysis. Educational and interactive events further supported the organizational integration, enhancing employee engagement and understanding of sustainability objectives. However, technical integration of MCS-SCS of other departments in the organization is still in process. The integration of MCS-SCS at Varma supported the company's sustainability strategy by aligning financial and sustainability goals, informing investment decisions, and facilitating strategic monitoring, thereby incorporating sustainability into strategic decisions and daily operations. This study also identified challenges in the integration process, notably in collecting, comparing, and measuring sustainability data and the insufficiency of existing resource allocations for these tasks. These challenges highlight potential obstacles in effective performance measurement and decision-making regarding sustainability strategies.
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    Russia as the Location of Finnish IT R&D
    (2023) Petrov, Pavel; Kauppi, Katri; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    An important place in the study is given to key prerequisites for opening foreign R&D in Russia. At the moment, we consider the most suitable for the placement of foreign R&D divisions in Russia in exactly three locations: St. Petersburg, Moscow and Kazan (Republic of Tatarstan) for a number of reasons. As far as the Russian IT market is concerned, the study is largely devoted to characterizing its current state, describing the problems and promising directions of its development. The presence of a number of key factors forces the business community to complement its traditional models of work with the development of digital channels of interaction with customers, therefore, the demand for IT services both in Russia and in the world is steadily growing. Russia has significant potential for integration into the global processes of developing information services. This is largely due to the low exchange rate of the national currency and the convenient geographical location of the country — between the European and Asian regions, — where a significant number of client companies are located. A powerful training base and research environment, significant human and scientific potential, as well as a strong tradition of training engineering personnel, which is confirmed by the high qualifications of Russian programmers, can serve as additional advantages for organizing an R&D division in Russia. By developing promising R&D projects, Russian business is striving to capitalize competitive advantages and is aimed at transforming the principles of operation and finding the optimal balance between the scale of financing and economic efficiency of the introduction of modern technologies into their products and business processes. IT industry of two countries - Finland and Russia, actively contributing to the development and implementation of modern technologies in the European and Russian markets. The paper reveals in more detail exactly the features of the Russian IT industry as a potentially important generator of innovations in the field of IT.
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    Boy Bands and Fandoms: The Intersection of Identity, Branding, and Culture
    (2023) Alanya, Lara; Mikkonen, Ilona; Markkinoinnin laitos; Kauppakorkeakoulu; School of Business
    This bachelor's thesis investigates the influence of boy bands on fandom formation and consumer behavior. It delves at how boy bands transcend the music industry to become cultural brands, building deep relationships with their followers. The research investigates the influence of digital media in increasing fan interaction and content development. The key findings emphasize the diversity of boy band fandoms and the importance of social media. According to the findings, marketers and brand managers must recognize the varied nature of fan involvement and the cultural impact of boy bands. Future research issues identified in the paper include the effect on male fans, the necessity for longitudinal studies on digital participation, and the socio-psychological elements of fandom cessation.
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    Dividend Yields as a Predictor of Risk-Adjusted Returns: Evidence from Finland
    (2023) Aro, Jiri; Vihriälä, Erkki; Rahoituksen laitos; Kauppakorkeakoulu; School of Business
    I examine the relation between anticipated dividend yields and risk-adjusted stock returns on the Helsinki Stock Exchange over the period from 2003 to 2023. The analysis reveals a positive relation between anticipated dividend yields and risk-adjusted returns using Fama and French three-factor model and the Carhart four-factor model as the pricing models. The findings suggest that this relation is not predominantly influenced by tax considerations, as previously proposed in literature. This study extends the existing literature by confirming that the dividend yields and risk-adjusted returns show positive relation in Finnish markets and by highlighting the non-tax factors driving the phenomenon.