Natural resources and capital structure

This paper examines the effect of natural resources on the capital structure of firms. Using an extensive dataset of listed firms in 70 countries, we show that firms operating in resource extraction industries have less debt than other non-financial firms. Moreover, non-resource firms in resource-dependent countries are found to be less indebted than their counterparts in other countries. The results suggest that the very fact of a firm’s location in a resource-dependent country is an overlooked country-specific determinant of the firm’s capital structure and that financial institutions in resource-dependent countries may play a role in exacerbating a nation’s resource curse.     

Ageing and consumption in Finland: The effect of age and life course stage on ecological,economical and self‐indulgent consumption among late middle‐agers and young adults between 1999 and 2014

Previous studies on ageing consumers have mainly focused on chronological age and generational values or studied ageing and consumption with cross‐sectional data. Few quantitative studies exist that examine the effect of age together with life course on consumption using longitudinal data. To bridge this gap, the article examines ageing and attitudes towards consumption in Finland, focusing particularly on late middle‐agers (46–60 year‐olds) in comparison with young adults (18–30 year‐olds) between 1999 and 2014. The article explores three consumption patterns based on attitudinal statements: ecological, economical and self‐indulgent consumption. Through analysis of a nationally representative survey study in Finland (N = 8,543), the article reveals that in all years under examination, late middle‐agers reported more ecological attitudes towards consumption than young adults. In 1999 and 2004, the attitudes of late middle‐agers appeared more economical, but age‐related differences in economical attitudes disappeared between 2009 and 2014. In each year, late middle‐agers reported less self‐indulgent attitudes than young adults, and these age‐related differences did not remarkably change between 1999 and 2014. The results indicate that in 1999 and 2004, ecological and economical attitudes towards consumption were best predicted by age at the year of the study. In later years, ecological attitudes were more closely determined by life course stage, that is household type and other socio‐demographic determinants. Regarding economical attitudes, generational or cohort effects were pronounced among late middle‐agers in 1999. In contrast, the significance of age remained throughout the years for self‐indulgent attitudes, indicating the absence of generational or cohort effects.     

Image risks of servitization in collaborative service deliveries

Although servitization is seen as a potential process for reputable goods manufacturers to expand their business, it also involves risks to company image. External partners, such as suppliers and third parties, have played an increasing role in manufacturing firms' service business, but their image effects are poorly understood. This paper discusses the image risks of servitization in manufacturing companies, particularly when they operate collaboratively with third parties. An embedded case study was conducted in two units of a case company in the engineering industry. The results revealed that a good company image plays a key role in customers' selection of service providers, but this image is strongly influenced by third-party performance during service delivery. As a key contribution, this study suggests that third-party image risks are strategic issues that can direct and guide the servitization process at the level of strategy, operations, and company identity.     

Product involvement in organic food consumption: Does ideology meet practice?

This study assesses the level of consumers' felt involvement in four distinct product categories of organic food (coffee, bread, fruit, and flour), and examines the role of felt involvement in the broader context of organic food shopping behavior. It is shown that the reason why consumers do not buy organic food regularly despite their positive attitudes is that such ideologically formed attitudes are not present in habitual, low‐involvement shopping activities with limited problem‐solving needs as in food shopping from grocery stores. The statistical analysis of an empirical sample of 200 consumers gives substantial support to the hypothesized new organic food buying behavior model. © 2009 Wiley Periodicals, Inc.     

Predators in the web of life: World ecology of historical human–wolf relations in Finland

To better understand current conflicts related to human–wolf interactions in Finland, this article undertakes a longue-durée examination of societal structural transformations and how they have influenced ways of relating to nature in the country. Through a world-ecological perspective, we weave together a historical review and results of ethnographic fieldwork to explain how and why human–wolf relations in Finland transformed from indifferent coexistence to purposeful eradication in the late 19th century and ultimately to contemporary contested protection. We argue that the nature-making capacities of capitalist development are an integral part of the historical circumstances that led to the eradication of wolves, which was not only the result of animosity towards wolves but also fuelled by the interests of elite hunters. The resulting negative perceptions, coupled with changes in practices and landscapes during the wolf-less era, are central in current contestations, illustrating the deep ideological, emotional, and practical nature relations that capitalism creates.     

Consumers’ everyday food choice strategies in Finland

In developed countries, choosing and purchasing food is today perhaps more complex than ever. In recent years, European consumers have experienced several food crises. We face a rapidly expanding range of novel food products, the food chain has become longer, and the origin of food more anonymous. At the same time, consumers confront increasing amounts of information on food every day. Consumers build their conceptions of modern food‐related risks on the basis of their everyday knowledge and coping strategies. Hence, the focus of this paper is on consumers’ food choices and everyday practices in relation to food safety and quality as well as food‐related risks. The paper is based on a Finnish study 1 examining consumers’ food choices. The data for the study were collected in September 2004 using an Internet‐based food diary accompanied by open‐ended questions on food‐related views and strategies. Altogether, 92 consumers completed the diary. The method combining the tradition of dietary intake and food consumption surveys with open‐ended questions was developed in order to gain an insight both on the types of foods purchased and on consumers’ conceptions of food‐related issues. In this paper, we focus on the key findings of the study as regards to consumers’ notions on food quality and safety issues and the practices they use in their everyday lives. We found eight everyday strategies consumers use. We suggest, first, that the strategies are important in simplifying food choice and making daily life easier, and second, that consumers use food‐related information flexibly in creating these strategies.     

Customer-centered measurement of service operations: a B2B case study

This study examines how the customer can be utilized in performance measurement and evaluation of complex engineered service operations in the business-to-business environment. The framework put forth by Ukko and Pekkola for a customer-centered approach to performance measurement in service operations is used, focusing on the special nature of service processes and the customer’s perspective. The results of this case study show that in non-interactive customer-related processes, performance evaluation can be a viable alternative to performance measurement. In addition, enabling the customer to participate in the evaluation and measurement of service operations will generate not only new measures but also new services.     

Organisational capabilities and internationalisation of the small and medium-sized information and communications technology firms

Especially in changing and unpredictable global environments where small knowledge-intensive information and communications technology (ICT) firms often operate, knowledge-based organisational capabilities are seen to contribute most to the performance. In this paper we explore the internationalisation process of small knowledge-intensive firms by studying the effects of a firm’s organisational capabilities on internationalisation and performance. We use a sample of 124 (of which 55 operate internationally) Finnish small and medium-sized firms. International experience is confirmed to be a significant determinant of internationalisation and international performance. In addition, financial capabilities prove to be a significant indicator of the degree of internationalisation: excellent investment expertise, connections with venture capitalists and good financial management are important capabilities for a small firm with high international growth aspirations.     

Retailer service acceptance: simply adding a service to the offer portfolio or committing to marketing it

By virtue of their significant influence on customers’ decisions, retailers’ acceptance of a service plays a significant role in the success of that service. Therefore, retailers’ acceptance of the service and commitment to selling the service must be ensured. However, this issue has attracted limited attention in acceptance research, which tends to focus on goods, technologies and consumers. Based on a survey of consumer durables retailers in three countries, this study focuses on retailer acceptance of a complimentary use-guarantee service, which is meant to maintain customer’s ability to use a semi-durable consumer product. The results of this study link retailers’ perceived usefulness, and commitment & effort to their service acceptance. Manufacturer support was found to moderate the relationship between ease of use and acceptance. Further, nationality, retailer’s own use of the service as a consumer and the importance of the manufacturer’s business for retailers were important for retailer acceptance. Thus, manufacturers need to focus as strongly on retailer acceptance as on the end customer acceptance to ensure service success. They also need to ensure the usefulness of the service for retailer, give retailers a reason to commit to the service sales and provide enough support to make retailers comfortable in selling the service.