Finance and Financial Accounting

The Finance and Financial Accounting research group (FRG) focuses on finance and external accounting. The group's areas of expertise cover the field from finance markets to financial statement analysis. Researchers of finance and financial accounting at the University of Vaasa are pioneers in their field of research in Finland. During the past decades they have published hundreds of scientific articles in journals that follow international assessment procedures.

The research tradition is also strongly reflected in the group's current operations and areas of emphasis. Recent projects have focused on the examination of the way financial markets operate and connections with corporate financing and investor decision-making.

The research group is headed by Professor Jussi Nikkinen.

Key research themes of the group

Financial markets

• Emerging financial markets
• Derivatives markets
• Macroeconomic factors and financial markets

Monetary policy and financial markets
Banking and bank performance
Corporate finance

• Female executives and corporate governance

Earnings management and the quality of financial reporting
Econometrics of event studies
Microstructure of financial markets

Earlier research projects

Using Bank Option Prices to Assess Financial Sector Conditions (2014-2016)
Project leader: Dr. Jukka Sihvonen
External funding from: OP-Pohjola Bank Research Foundation

Gender and Financial Decision Making (2012-2015)
Project leader: Prof. Sami Vähämaa
External funding from: Academy of Finland

Females and Corporate Governance (2009-2014)
Project leader: Prof. Sami Vähämaa
External funding from: NASDAQ OMX Nordic Foundation

The Use of Derivatives by the Energy Sector Companies (2010-2013)
Project leader: Prof. Timo Rothovius & Prof. Jussi Nikkinen
External funding from: The Finnish Funding Agency for Innovation (Tekes); Lahti Energia, Oulun Energia, Vaasan Sähkö and Vantaan Energia

Corporate Risk Management and Financial Vulnerability (2011-2012)Consortium project of Hanken School of Economics, Lappeenranta University of Technology and University of Vaasa
Project leader: (Vaasassa) Prof. Jussi Nikkinen
External funding from: Academy of Finland; University of Vaasa