NEWSLET TER 3– 13 FROM HANKEN SCHOOL OF ECONOMICS

Quality and Focus Hanken’s strategy is based on a strong orientation towards research, internationalisation, and good corporate connections. According to our long-term strategy, our research should be at the absolute forefront: internationally respected and relevant for the business sector. This applies particularly to research conducted within the School’s areas of strength. According to the external panel that evaluated Hanken’s research in 2012, we have come a long way. Not only does our research in the four new areas of strength comply with the highest current international standards - we also have other areas where we come close to the top. For a small business school, focus is of the utmost importance. Although good coverage of a wider area is needed for teaching, in research focus is an absolute necessity. While small schools can’t compete with large research units in all

areas, a strong focus on a few chosen areas enables us to attract top researchers from specific fields Hanken’s recent success in international recruitments supports this theory. We have to further this strategy, remembering that each new recruitment is an important long-term investment and should thus be properly prepared.

E VA L I L J E B L O M REC TOR

REINFORCEMENT AND NEW TERRITORY This summer Hanken has reinforced its academic staff with five professors. The latest recruitments strengthen Hanken’s international research network, expanding into new territory by appointing the School’s youngest female professor ever, Gyöngyi Kovács, to a new position as Professor in Humanitarian Logistics. -I’m very happy we have had the opportunity to retain and attract a number of high-profile researchers at Hanken. The recent appointments show that Hanken is on the right track and that high-quality research is conducted in several areas, Rector Eva Liljeblom concludes. Dr Gyöngyi Kovács, director of the HUMLOG institute at Hanken, was appointed Erkko Professor in humanitarian logistics in June. Professor Kovács is a well-known expert and one of the most cited researchers in her field. She is also the first Professor in Humanitarian Logistics in the world. The department of Finance has further strengthened its expertise by appointing two prominent professors. Dr Paulo Maio has been appointed professor in Finance with special emphasis on Asset Pricing and Dr Timo Korkeamäki as Pentti Professor in Finance. Dr Niklas Bruun, appointed Professor in Commercial Law in July, has returned to Hanken. Professor Bruun has been a driving force in introducing intellectual property rights as a discipline at Hanken. In August Dr Minna Martikainen was appointed Professor in Accounting. Professor Martikainen’s research interests are profitability and growth of SMEs, ownership structures and corporate governance.

FOUR NEW AREAS OF STRENGTH

ONE YEAR RESEARCH GRANT

An external panel evaluating Hanken’s research in 2012 has found that four main research areas meet the highest international standards . These four areas have now been appointed new areas of strength for the School until 31 July 2018. The new areas of strength are:

Gunnar Rosenqvist, Professor of Statistics, has been awarded a one-year research grant via the Foundations’ Professor Pool. The purpose of the grant is to allow him to focus on research during the academic year 2014-15. Professor Rosenqvist’s research interests include applied econometrics, especially micro econometrics with applications within health economics, and market micro structure of financial markets. The Foundations’ Professors Pool awarded 98 professors a grant for a 12-month research period. The overall sum of grants is 2.45 million euros. The Foundations’ Professor Pool is a joint temporary grant pool of 17 foundations aimed at increasing research opportunities for professors.

»» Economics »» Financial Economics »» Management and Organisation »» Marketing - To prioritise a limited number of research areas is a sensible and efficient way to use available resources for a business school of Hanken’s size. Hanken will continue to conduct research within all ten current areas, says Rector Eva Liljeblom. Hanken School of Economics has since 1994 appointed areas of strength within research and education. These areas have been prioritised when deciding on investments for research.

FUNDING FOR RESEARCH IN HR Mats Ehrnrooth has together with Ingmar Björkman (Aalto University) and Vesa Suutari (University of Vaasa) been granted funding from the Academy of Finland for a large consortium research project. The research project is entitled Influence without authority: Examining the agency and actions of Human Resource professionals and focuses on the possibilities for HR-professionals to influence the decisionmaking within a company. In addition to the leading HR researchers in Finland, the consortium includes 12 Finnish and Nordic companies and other international partners. The Academy of Finland granted 21.3 MEUR to research on culture and society. In total 311 applications for research funding were made to the Research Council for Culture and Society in the last application round. 14% of the applicants were granted funding.

THE GRÖNROOS AWARD TO JAVIER REYNOSO The winner of the 2013 Grönroos Award is Javier Reynoso, professor and Director of the Service Management Speciality Program at EGADE Business School in Mexico. He received the award for his long involvement in research on service as well as for taking an interest in areas of service that few others have researched, i.e. the possibilities of success for micro enterprises as service suppliers in developing countries. The award was established in 2010 by Hanken’s Centre for Relationship Marketing and Service Management. The purpose of the award is to inspire service marketing researchers to pioneering and innovative research that challenges and expands existing knowledge and theories in the service discipline. The Grönroos award is named after marketing professor Christian Grönroos.

R AY M O N D P. F I S K , J AV I E R R E Y N O S O , E V E R T G U M M E S S O N , C H R I S T I A N G R Ö N R O O S

HANKEN MBA PROGRAMME RE-ACCREDITED BY AMBA

N I N A G R A N Q V I S T, M I K K O V E S A A N D H E N R I K A F R A N C K

AWARD WINNING RESEARCH The PhD students and post-doc researchers at the department of Management and Organisation are on a winning streak, haven taken home several prizes during recent months. Researcher and lecturer Henrika Franck is the first Finn ever to receive the Grigor McClelland Doctoral Dissertation Award for her doctoral dissertation Ethics in Strategic Management: An Inquiry into Otherness of a Strategy Process. Franck has also been awarded second prize in the EDAMBA contest for the same doctoral dissertation. The EDAMBA prize was awarded at the yearly EDAMBA conference. Doctoral student Mikko Vesa has received the 2013 Best Student Paper Award for his article Evolutive Consequences of Managerial Practice: Internal Cessation as a Selective Outcome. The award was presented by the Academy of Management during its conference Strategizing Activities and Practice Interest Group. The Roland Calori Prize is awarded for the best article published in Organization Studies over a period of two years. This year the prize went to Assistant Professor Nina Granqvist and Juha Laurila for the article Rage against Self-replicating Machines: Framing Science and Fiction in the US Nanotechnology Field. The award was presented to them at the Montreal EGOS conference.

The Hanken Executive MBA programme has been re-accredited by the international Association of MBAs (AMBA). Programme Director Annika Vatanen says that the accreditation is a sign of continued trust in the delivery and development of the Hanken Executive MBA programme and ensures both participants and alumni that the programme meets the highest international standards when it comes to programme design, content and support. The Hanken Executive MBA participants were found to have successful corporate careers and to be very enthusiastic about their experience. The accreditation panel especially commended the remarkable gender diversity, which stands out in comparison to other similar European MBA programmes.

NEW MASTER’S PROGRAMME FOCUSING ON SUSTAINABILITY Hanken has launched a new master’s programme in International Strategy and Sustainability. As Hanken was the first university in Finland to sign the PRME (Principles for Responsible Management Education), this is a natural step to take. The programme will also offer two students the opportunity to complete a double degree with the prestigious EMLYON Business School in France. The students will spend two terms studying at EMLYON’s Master of Science in Management programme. Applications for this double degree programme are accepted for the next academic year.

HANKEN AT A GLANCE HANKEN IN FIGURES »» Founded in Helsinki 1909 »» Campus also in Vaasa since 1980 »» Research and teaching in Swedish and English in five different departments »» Number of students enrolled for bachelor and masters degrees – 2183 »» Number of doctoral students – 164 »» Academic staff – 126

RECTOR’S LIST The 29th of May 2013 16 students were awarded Hanken School of Economic’s Rector’s List Scholarship. During the award ceremony the students met representatives from Hanken’s partner companies and discussed future possibilities with them. The scholarship is awarded yearly to graduates belonging to the top 5% in study success. The criteria that are measured are number of terms, study points and mean value of all courses.

»» Number of partner universities worldwide – 104

AREAS OF STRENGTH »» Economics »» Finance »» Management and Organisation »» Marketing

BSc, MSc AND PhD DEGREES IN »» Accounting »» Commercial Law »» Economics »» Entrepreneurship, Management and Organisation

HANKEN PARTNER PROGRAMME

»» Finance

The Hanken Partner Programme aims at building long-lasting, mutually beneficial relationships that strengthen the connection between Hanken and the corporate world.

»» Statistics

Hanken Premium Partners:

»» Information Systems Science »» Management and Organisation »» Marketing »» Supply Chain Management and Corporate Geography

MASTER’S DEGREE PROGRAMMES IN ECONOMICS AND BUSINESS »» Corporate Governance (Helsinki) »» Economics (Helsinki) »» Financial Economics (Helsinki)

Hanken Partners:

»» Intellectual Property Law (Helsinki) »» International Strategy and Sustainability (Helsinki) »» Marketing (Helsinki) »» Quantitative Finance (Vaasa)

EXECUTIVE EDUCATION »» Hanken Executive MBA »» Hanken & SSE Executive Education

Hanken Vaasa Partner:

»» Hanken Executive Education Vaasa »» CEFA/CIIA Certified EFFAS Financial Analyst

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