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This issue includes three research articles. First Benjamin Maury examines whether shareholder portfolio holding data can be used to improve the performance of popular value investment strategies. Then Pertti Laine, Jari Stenvall and Hanni Tuominen focus on the strategic role of HR. And finally Matti Keloharju analyzes the timing of spending in Finnish municipalities

This issue of the Nordic Journal of Business (NJB) includes three peer-reviewed research articles. In the first article, Benjamin Maury from Hanken School of Economics contributes to the finance literature by examining whether shareholder portfolio holding data can be used to improve the performance of popular value investment strategies. The second article by Pertti Laine (University of Turku), Jari Stenvall (University of Tampere) and Hanni Tuominen (University of Turku) focuses on human resource competencies and the strategic role of HR.  Finally, in the third article, Matti Keloharju from Aalto University School of Business analyzes the timing of spending in Finnish municipalities.

The current issue of NJB is the first issue available in only electronic form. Given the universally declining role of printed journals in the process scholarly communication and the financial imperatives involved with print versions, The Association of Business Schools Finland has decided to continue the development of NJB in a strictly electronic form as a peer-reviewed open access journal. We are committed to being a pure open access journal without submission fees, subscription fees, or any article processing charges.

I hope you enjoy reading the interesting articles featured in this issue of the Nordic Journal of Business.

Sami Vähämaa

Editor

Nordic Journal of Business

Contents Vol. 66, No. 1 (Spring 2017)

The full issue (pdf)

Research papers

Quality at a Reasonable Price: The Role of Investors’ Portfolio Weights
Benjamin Maury

A Strategic Role for HR: Is It a Competence Issue?
Pertti Laine, Jari Stenvall and Hanni Tuominen

Year-End Purchases in Finnish Municipalities
Matti Keloharju

Dear Reader,
The last issue of 2016 was be the last issue of the Nordic Journal of Business available in printed form.

Given the universally declining role of printed journals in the process scholarly communication and the financial imperatives involved with print versions, The Association of Business Schools Finland has decided to continue the development of the Journal in a strictly electronic form as a peer-reviewed open access journal. In the future, the Nordic Journal of Business is committed to being a pure open access journal without submission fees, subscription fees, or any article processing charges. More information and all content can be found here at www.njb.fi.
If you want to receive notifications of NJB’s new issues in the future, please send a subscription e-mail to editor (at) njb.
Sami Vähämaa
Editor
Nordic Journal of Business

In this issue the first two articles focus on ethics. In the first article consumers’ attitudes toward unethical consumer behavior across different socio-demographic groups is studied. The second investigates the relationship between moral priming and cheating in test situations. Third article compares the performance of various value investment strategies in the Finnish stock market. Last two articles are related to management accounting. The research note examines the tasks and characteristics of management accountants in the context of recruitment processes.

Research papers

Investigating the Links between Socio-demographic Factors and the Acceptance of Unethical Behavior: A Survey in Finland
Arto Lindblom and Taru Lindblom

To Cheat or Not to Cheat? The Effect of a Moral Reminder on Cheating
Jori Grym and Veronica Liljander

Magic Formula vs. Traditional Value Investment Strategies in the Finnish Stock Market
Denis Davydov, Jarno Tikkanen and Janne Äijö

The State of Management Accounting Symbolized by Five Clusters of Companies
Antti Ylä-Kujala, Sini-Kaisu Kinnunen, Tero Hyvärinen, Leena Tynninen, Timo Kärri and Harri Ryynänen

Research notes

The Tasks and Characteristics of Management Accountants: Insights from Finnish Recruitment Processes
Lauri Lepistö, Marko Järvenpää, Eeva-Mari Ihantola and Iida Tuuri

This issue includes three peer-reviewed articles and a research note. The articles cover the the different concepts of network that have been used in network research, use of business intelligence systems in decision making and the relation between organizational heterarchy and leadership toward creativity in virtual work. The research note a theoretical framework and a measurement scale are proposed for exploring industrial purchasers’ behavior in supplier relationships.

Research papers

Kari Toikka, Reijo Miettinen and Juha Tuunainen: Four Concepts of Network: From Connectedness to Object-Oriented Collaboration 

Erno Nykänen, Marko Järvenpää and Henri Teittinen: Business Intelligence in Decision Making in Finnish Enterprises 

Iris Humala: Heterarchial Ontological Commitment for Leaders to Stimulate Creativity among Virtual Workforce 

Research notes

Jukka Vesalainen, Anni Rajala and Joakim Wincent: Measuring Industrial Purchasers’ Boundary Behavior in Supplier Relationships 

This special issue of the Nordic Journal of Business (NJB) focuses on Nordic corporate governance. The special issue consists of four articles presented at the 7th Annual Workshop of the Nordic Corporate Governance Network which was organized at Copenhagen Business School in June 2015.

Contents

Editor’s letter

Research papers

Steen Thomsen: Nordic Corporate Governance Revisited

Karin Jonnergård and Ulf Larsson-Olaison: Stubborn Swedes: The Persistence of the Swedish Corporate Governance System under International Reform

Wolf-Georg Ringe: German versus Nordic Board Models: Form, Function, and Convergence

Laura Arranz Aperte: The Impact of Shareholder Involvement in the Nomination Process on Board Diversity 

Issue contains three articles. In the first, Ulf Jakobsson and Timo Korkeamäki provide a review of the development trends in the ownership and corporate governance structures of large Finnish firms. Second article by Mila Hakanen and Mia Häkkinen focuses on the role of interpersonal trust in business networks. In the third article, Jukka Sihvonen and Sami Vähämaa analyze business research output in the Nordic countries across countries, disciplines, and academic institutions.

From the Editor

Ulf Jakobsson & Timo Korkeamäki – Ownership and corporate governance in Finland: A review of development trends

Mila Hakanen and Mia Häkkinen – Management possibilities for interpersonal trust in a business network Case: Health-, exercise- and wellbeing markets

Jukka Sihvonen & Sami Vähämaa – Business Research in the Nordic Countries: An Analysis of Research Output across Countries, Disciplines, and Institutions

This issue consists of three articles. The first article by Uolevi Lehtinen and Raija Järvinen contrbutes to the marketing literature by proposing a new definition of service innovation. In the second article, Matti Keloharju and Antti Lehtinen provide a descriptive analysis of ownership patterns of Finnish listed firms. Third article by Jouni Laitinen focuses on the relationship between auditors’ civil liability and the quality of financial reporting.

Editor’s letter

Uolevi Lehtinen & Raija Järvinen – The Role of Service Characteristics in Service Innovations

Matti Keloharju & Antti Lehtinen – Shareownership in Finland 2015

Jouni Laitinen – The effect of limiting auditors’ liability on audit quality: Empirical evidence on liability caps and earnings management in Europe

This special issue of the Nordic Journal of Business consists of four articles presented at the 3rd Nordic Conference on Consumer Research which took place in May 2014 in Vaasa, Finland. The presentations provided a rich variety of consumer research combining different theoretical perspectives, methodologies and schools of thought.

Editor’s letter

Editorial

Research papers

Jaskari Minna-Maarit, Leipämaa-Leskinen Hanna, Syrjälä Henna
– Revealing the paradoxes of horsemeat – The challenges of marketing horsemeat in Finland

Söderlund Magnus & Sagfossen Sofie – The consumer experience and the absorbing story

Turunen Linda Lisa Maria – Challenging the hierarchical categorization of luxury fashion brands

Matschoss Kaisa & Kahma Nina – Service interest and cluster membership – Who are the pioneering users in energy efficiency service markets?

This is the inaugural issue of the Nordic Journal of Business (NJB). Although inaugural issue may give the impression of something new, NJB is not a new journal, but rather a continuation of the long tradition of the Finnish Journal of Business Economics under a new name and with a refined focus and philosophy. The Journal was established in 1952 and has been considered a staple of peer-reviewed business research among Finnish scholars for more than 60 years.

Editor’s letter

Editorial

Research papers

Tor Brunzell, Eva Liljeblom, Anders Löflund and Mika Vaihekoski – Capital Structure Policy Decision in Nordic Listed Firms

Timo Hyvönen, Janne Järvinen and Jukka Pellinen – Dynamics of Creating a New Role for Business Controllers

Benita Gullkvist and Annukka Jokipii – Factors Influencing Auditors’ Self-Perceived Ability to Assess Fraud Risk

Jonas Spohr – Can analysts forecast profit warnings?

This is the final issue of the Finnish Journal of Business Economics (FJBE). From Volume 64 onwards, the name of the journal will be the Nordic Journal of Business (NJB). This last issue of FJBE contains three peer-reviewed research articles and three short discussions. In the first research article, Mikko Luoma focuses on the concept of strategy orientation. The second research article by Eva Heiskanen, Raimo Lovio, and Kimmo Louhija analyzes the adaption of new technology through the case of thermal energy in Finland. In the third research article, Samuel Piha and Anu Lähteenmäki-Uutela discuss the potential applications of evolution psychology in business studies.

EDITORIAL – PÄÄTOIMITTAJALTA

 Editorial

RESEARCH PAPERS – TIETEELLISET ARTIKKELIT

Mikko Luoma – How do we see strategy? Investigating the existence and role of strategy orientation among Finnish TMTs

Eva Heiskanen, Raimo Lovio & Kimmo Louhija – Miten uusi teknologia tulee uskottavaksi?: Esimerkkinä maalämpö Suomessa

Samuel Piha & Anu Lähteenmäki-Uutela – Evoluutiopsykologian soveltaminen kauppatieteissä

DISCUSSION – KESKUSTELUA

Jonna Louvrier – Diversity Management: At the Center of HRM and Leadership

Joni Ristevirta – Tilintarkastajan vahingonkorvausvastuu – sijoittajien, yritysjohdon ja tarkastajien näkemyksiä

Uolevi Lehtinen – Startup-yritykset ja liiketoimintaosaaminen