This study considers the novel topic of comparing firm failure processes between different countries. For seventy bankrupt Finnish firms corresponding pairs are found among Estonian bankrupt firms based on industry, size and time of bankruptcy. Despite the similarity of firms from two countries,...

There remains little consensus about how to define and formulate audit quality. It does not have a consistent definition and operationalization across studies and this has troubled theorists for many years. This study contributes to this discussion by introducing a probability tree model of...

The objective of this study is to predict the failures of small entrepreneurial firms re-organised according to the Finnish Company Reorganisation Act (FCRA). The purpose of FCRA is to assist temporarily financially distressed firms that are expected to make a viable recovery and able to pay...

The objective is to develop a mathematical model of the firm to show the relationship between profitability, growth, and financial flow concepts especially under conditions for failing firms. It is assumed that revenue flows are generated by periodic expenditures growing at a steady rate. These...

Purpose – The purpose of this paper is to develop a simple microeconomic model of the firm to give theoretical foundations for the balanced scorecard concept (BSC). Design/methodology/approach – The model consists of demand, production, and objective functions integrated into a resource...

Purpose – Seeks to present a microeconomic model to analyse theoretically BSC, to develop a simplified model version and to apply it empirically. Design/methodology/approach – The model assumes exponential production and demand functions with constant scale factors and elasticities. It is...

This study is arguing that management would benefit in pricing decision from simple rules of thumb more than from complicated models. These rules are easy to use and they provide management with useful support to move towards optimisation and to diminish gap between theory and practice. This...

This study provides new insights into value creation in family firms by analysing the interactions between value drivers and their determinants. Three value drivers are defined: profitability, growth and risk. The determinants include variables on performance measurement, control systems,...

This research explores Management Accounting Change (MAC) in Finland based on a survey of 145 firms. MAC is measured in 15 management accounting practices. Four categories of factors are used to explain MAC. Organisational factors include variables on status, organisation, strategy, products,...

The purpose of the paper is to search for a typology of management control system mix (MCSM) in 110 Finnish technology firms. MCSM is considered as a portfolio of management control mechanisms. In a MCSM, single systems are implemented and changed as a package. Instead of analysing such single...