Expected results and their significance
The project will contribute to the understanding of determinants and implications of firms’ business know-how and its reporting (see more details Backgrounds). Overall, our project FINNON is aimed to advance the recognition and reporting of value-relevant information to the stakeholders. The project will provide evidence on how economic, social, and ecological know-how affect and interact in a value creation process of a firm. Main academic outcomes are three Ph.D. theses (see section 1.3. above) and several internationally refereed journal articles. Finally, the project will establish and strengthen a scientific network of researchers.
Practical applicability of research results
Several management-oriented and legislative-oriented publications will be written. Besides academic publications, we will also publish some management-oriented articles in professional magazines when appropriate. Also publishing of a professionally oriented book is considered. Due to the timely topic regarding e.g. International Financial Reporting Standards (IFRS) we will also participate in that discussion by professionally oriented commentaries and opinion statements when suitable. This project is expected to contribute also to education mainly in two ways: 1) research findings will be integrated to degree programs, and 2) new courses will be developed.
The research project is likely to contribute also to firms and society in general in several ways. First, the outcomes should increase the management skills to take into account social responsibility in firm’s operations and investment activities. Second, the outcomes will provide a means to evaluate and develop firms’ communication systems especially related to social and ecological indicators, and thus enhance firm valuation efforts by stakeholders. Third, the knowledge gained during the project will foster participation by project members in the development of social and ecological reporting standards in particular. Further, team members should be able to participate to the public discussion about the business know-how and firm valuation. Finally, the outcomes will increase the engagement of social and ecological responsibility issues in the society.
Publication and other dissemination of research results
Three dissertations will be published in the dissertation series of TSEBA and UO. The refereed articles will be published mainly in high quality journals such as: Accounting, Auditing and Accountability Journal, European Accounting Review, International Journal of Accounting, and Journal of Accounting and Public Policy.