Erkki K. Laitinen

Professor, Emeritus

D.Sc. (Econ.)
Faculty of Business Studies, Accounting and Finance
E-mail: erkki.k.laitinen
Telephone: +358 29 449 8443
Office Hours: No office hours

Main areas of interest:

  • Financial risk assessment
  • Reorganization of business firms
  • Financial statement analysis
  • Management Accounting
  • Auditing
  • Quantitative and statistical analysis
  • Optimization models

ACA RESEARCH GROUP

Some publications:

Earlier publications:

http://lipas.uwasa.fi/~ekla/aikjulk.htm

 

Erkki K. Laitinen: Financial Ratios and Different Failure Processes. Journal of Business Finance and Accounting. September. 1991. Vol. 18. pp. 649-674.

Erkki K. Laitinen: Relationship between Stock Return and Financial Factors. The Finnish Journal of Business Economics. 3. 1991. pp. 216-231.

Erkki K. Laitinen & Martti Luoma. Survival Analysis as a Tool for Corporate Failure Prediction. Omega. Vol. 19. 6. 1991. pp. 673-678.

Erkki K. Laitinen: Prediction of Failure of a Newly Founded Firm. Journal of Business Venturing. Vol. 11. 4. 1992. pp. 323-340.

Erkki K. Laitinen: Financial Processes in Newly-Founded Firms. International Small Business Journal. July-September. Vol. 10. 4. 1992. pp. 8-9, 47-54.

Erkki K. Laitinen: Paired Logistic regression in Failure Prediction. The Finnish Journal of Business Economics. 1. 1993. pp. 33-42.

Erkki K. Laitinen: Financial Predictors for Different Phases of The Failure Process. Omega. International Journal of Management Science. 1993. Vol. 21. No. 2. 215-228.

Erkki K. Laitinen: The Use of Information Contained in Annual Reports and Prediction of Small Business Failures. Journal of International Review of Financial Analysis, 1994, Vol. 2, No 3, pp. 155-176.

Erkki K. Laitinen: Traditional versus Operating Cash Flow in Failure Prediction. Journal of Business Finance and Accounting. Volume 21. No. 2. 1994. p. 195-217.

Erkki K. Laitinen: Markov Process and Business Failure Prediction. The Finnish Journal of Business Economics. 1. 1994. p. 3-19.

Erkki K. Laitinen: The Duality of Bankruptcy Process in Finland. The European Accounting Review. Volume 4. Number 3. 1995. 433-454.

Erkki K. Laitinen: Estimation of Internal Rate of Return Under Nonsteady Conditions. Journal of Business Finance and Accounting. 24(9). October&December 1997. 1217-1251.

Erkki K. Laitinen, Rolf Leppänen and Edward I. Altman: High Tech Company Rating: Financial and Operative Evaluation. National High Technology Mentor Programme. TEKES. Helsinki. 1997.

Mostaque Hussain - Angappa Gunasekaran - Erkki K. Laitinen: Management Accounting Systems in Finnish Service Firms. Technovation. 18(1). 1998. 57-67.

Erkki K. Laitinen - Teija Laitinen: Misclassification in Bankruptcy Prediction in Finland: Human Information Processing Approach. Accounting, Auditing & Accountability Journal. Volume 11. Number 2. 216-244. 1998.

Erkki K. Laitinen ja Teija Laitinen: Cash Management Behavior and Failure Prediction. Journal of Business Finance & Accounting. 25(7) & (8). 1998. 893-919.

Erkki K. Laitinen: Nonsteady Corporate Model in Bankruptcy Prediction. The Finnish Journal of Business Economics. 3.1998. 301-322.

Erkki K. Laitinen ja Teija Laitinen: Qualified Audit reports in Finland: Evidence from Large Companies. The European Accounting Review. 7:4. 1998. 639-653.

Erkki K. Laitinen: Stochastic Growth Processes in Large Finnish Companies. A Test of Gibrat’s Law of Proportionate Effect. The Finnish Journal of Business Economics. 1.1999. 27-49.

Erkki K. Laitinen: Predicting a Corporate Credit Analyst's Risk Estimate by Logistic and Linear Models. International Review of Financial Analysis. 8:2. 1999. 97-121.

Erkki K. Laitinen ja Teija Laitinen: Bankruptcy Prediction: Application of the Taylor's Expansion in Logistic Regression. International Review of Financial Analysis. 9. 2000. 327-349.

Erkki K. Laitinen: Long-term Success of Adaptation Strategies: Evidence from Finnish Companies. Long Range Planning. 33. 2000. 805-830.

Erkki K. Laitinen: Management Accounting Change in Small Technology Companies: Towards a Mathematical Model of a Technology Firm. Management Accounting Research. 12. 4. 2001. 507-541.

Erkki K. Laitinen: A Dynamic Performance Measurement System: Evidence from Small Finnish Technology Companies. Scandinavian Journal of Management. 18. 1. 2002. 65-99.

Erkki K. Laitinen: Future-based Management Accounting: A New Approach with Survey Evidence. Critical Perspectives on Accounting. Published electronically September 03. 2002. 1-31.

Erkki K. Laitinen: Financial Rating of European Technology Companies: An International Comparison. Journal of Business Finance & Accounting. Vol. 29. September/October. 7&8. 2002. 871-901.

Erkki K. Laitinen: Towards a Microeconomic Approach of the Balanced Scorecard. Managerial Finance. Performance Measurement and Evaluation: Issue 1. Vol. 30. Nr. 6. 2004. 1-27.

Erkki K. Laitinen, Tom Wingren & William A. Nixon: Management Control Systems in Finnish Technology Companies: Search for a Typology of MCS Mix. International Journal of Accounting, Auditing and Performance Evaluation. Vol. 1. No. 2. 2004. 183-214.

Erkki K. Laitinen: Prediction of Value Creation in Finnish Technology Companies. Review of Accounting & Finance. Volume 3. Number 3. 2004. 84-130.

Erkki K. Laitinen: Microeconomic Analysis of the Balanced Scorecard: A Case of Nokia Corporation. International Journal of Productivity and Performance Management. 54. 5/6. 2005. 325-339.

Erkki K Laitinen: Survival Analysis and Financial Distress Prediction: Finnish Evidence. Review of Accounting & Finance. 2005. Volume 4. Number 4. 76-90.

Erkki K. Laitinen: Partial Least Squares Regression in Payment Default Prediction. Investment Management and Financial Innovations. 3. 1. 2006. 64-77.

Erkki K. Laitinen: A Constant Growth Model of the Firm: Empirical Analysis of the Balanced Scorecard. Review of Accounting & Finance. 2006. Volume 5. Number 2. 140-172.

Erkki K. Laitinen: Financial statement data in assessing the future potential of a technology firm: The case of Nokia. International Review of Financial Analysis. 15. 3. 2006. 256-286.

Erkki K. Laitinen: A Constant Growth Model of the Firm: Theoretical Analysis of the Balanced Scorecard. Review of Accounting & Finance. 2006. Volume 5. Number 3. 298–315.

Erkki K. Laitinen - Gin Chong: How do Small Companies Measure Their Performance? Problems and Perspectives in Management. 2006. Volume 4. Issue 3. 49–68.

Erkki K. Laitinen: Financial statement analysis of a network of SMEs: towards measurement of network performance. International Journal of Networking and Virtual Organisations (IJNVO). 2006. Volume 3. Issue 3. Special Issue on Network Performance Management in Interaction with Network Companies. 258282.

Erkki K. Laitinen: Classification accuracy and correlation: LDA in failure prediction. European Journal of Operational Research 183. 2007. 210-225.

 

Erkki K. Laitinen: A portfolio approach to develop a theory of future management accounting systems. EuroMed Journal of Business. Vol. 3. No. 1. 2008. 23-37.

Erkki K. Laitinen: Value drivers in Finnish family-owned firms: profitability, growth and risk. International Journal of Accounting and Finance. Vol. 1. No. 1. 2008. 1-41.

Erkki K. Laitinen: Data system for assessing probability of failure in SME reorganization. Industrial Management & Data Systems. Vol. 108. No. 7. 849-866. 2008.

Erkki K. Laitinen: Fit as based on the expected strategy: evidence from small and middle-sized firms. International Journal of Management and Enterprise Development. Vol. 6. No. 2. 240-260. 2009.

Erkki K. Laitinen: Success factors in small firm reorganization. International Journal of Management and Enterprise Development. Vol. 6. No. 3. 300-321. 2009.

Erkki K. Laitinen, Aapo Länsiluoto and Iiris Rautiainen: Extracting appropriate scope for information systems: a case study. Industrial Management & Data Systems. Vol. 109. No. 3. pp. 305-321. 2009.

Erkki K. Laitinen: Importance of performance information in managerial work. Industrial Management & Data Systems . 2009. Vol. 109. Issue 4. pp. 550 – 569.

Erkki K. Laitinen & Teija Laitinen: Audit report in payment default prediction: a contingency approach. International Journal of Auditing. Volume 13. Number 3. 259-280.

Erkki K. Laitinen (2009). From complexities to the rules of thumb: towards optimisation in pricing decisions. International Journal of Applied Management Science. Vol. 1. No. 4. 2009. pp. 340–366.

Erkki K. Laitinen & Teija Laitinen (2009). Effect of accruals on financial, non-financial, and audit information in payment default prediction. Int. J. Accounting, Auditing and Performance Evaluation, Vol. 5. No. 4. 2009. pp. 353–383.

Erkki K. Laitinen (2009). Do reorganizing and bankrupt firms differ from viable firms? Proceedings of the IASK International Conference (edited by Soto Acosta, P. & Ferreira, F.). Global Management 2009. 22-24.6. Seville. Spain. pp. 185-194.

Erkki K. Laitinen, A. Länsiluoto & M. Ulvila (2010). Causality and multidimensionality of strategic performance management systems: the impact on managers’ satisfaction, International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE). Vol. 6, No.1. pp. 28-53.

Erkki K. Laitinen (2010).  Financial Variables in Payment Default Prediction: Test of Interaction Effects. International Review of Applied Financial Issues and Economics.Volume 2. Issue 1 (March 2010). Published Online: April 13, 2010.

Erkki K. Laitinen (2010). Assessing viability of Finnish reorganization and bankruptcy firms. European Journal of Law and Economics (Published Online: 5 January 2010).

Kallunki, J-P., Laitinen, E.K. and Silvola, H. (2010). Impact of enterprise resource planning systems on management control systems and firm performance. International Journal of Accounting Information Systems. (Available online 29 March 2010).

Erkki K. Laitinen (2011). Effect of reorganization actions on the financial performance of small entrepreneurial firms. Journal of Accounting & Organizational Change. Vol. 7. No. 1. Pp. 57-95.

Laitinen, Erkki K. (2011). Explaining the scope of information in performance measurement: managerial roles and contextual variables. International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE). Vol. 7, No.4. pp. 303-336.

Laitinen, E.K. (2011). Extension of break-even analysis for payment default prediction: evidence from small firms. Investment Management and Financial Innovations, Volume 8, Issue 4, pp. 99-111.

Abdel-Kader, M., Moufty, S. &  Laitinen, E.K. (2011): Balanced Scorecard Development: A Review of Literature and Directions for Future Research. In Abdel–Kader, M. (ed.): Review of Management Accounting Research. Palgrave Macmillan. UK.

Laitinen, Erkki K. (2012): Estimating likelihood of filing a petition for reorganization and bankruptcy: evidence from Finland. The Finnish Journal of Business Economics. 1. 2012. 15-40.

Laitinen, Erkki K. (2012). Profitability, growth, and different flow ratio concepts: implications for failing firms. Review of Economics & Finance. Vol. 2. No 4. 112-130.

Laitinen, Erkki K. (2013). Financial and non-financial variables in prediction failure of small business reorganization. International Journal of Accounting and Finance. Vol. 4. Nr. 1. 1-34.

Laitinen, Erkki K. (2013) The sophisticated survey as a research method to explore management accounting practices: the reality gap in pricing. International Journal of Management Accounting Research (IJMAR). Vol. 2. Nro 1. 1-52.

Laitinen, Erkki K. & Suvas, Arto (2013). International Applicability of Corporate Failure Risk Models Based on Financial Statement Information: Comparisons across European Countries. Journal of Finance & Economics. Volume 1. Issue 3. 01 - 26. ISSN 2291 - 4951 E - ISSN 2291 - 496X.

Laitinen, E.K. (2013): Prediction of Failure of a Newly Founded Firm.  Reprinted in Shepherd, D.A. (ed.): Entrepreneurial Failure. Edward Elgar Publishing.

Laitinen, Erkki K. (2013):  Can Communication and Place Explain Managerial Use of Information? Communications in Information Science and Management Engineering. Vol. 3. Iss. 9, pp. 419-430.

Laitinen, E.K., Lukason, O. & Suvas, A. (2014): Behaviour of Financial Ratios in Firm Failure Process: An International Comparison. International Journal of Finance and Accounting. 2014. 3(2): 122-131. DOI: 10.5923/j.ijfa.20140302.09.

Laitinen, E.K. (2014): Yrityssaneerauksen tehokkuus pienyrityksissä laman aikana. In Uolevi Lehtinen (ed.): Kriisistä kriisiin. Monimuotoisen taantumailmiön monitieteistä tarkastelua. Aalto-yliopisto. Kokoomajulkaisu. Kauppa + Talous 2/2014. 85–104.

Laitinen, E.K. (2014). Influence of management accounting change on performance of small entrepreneurial reorganising firms. Internal Journal of Management and Enterprise Development, 2014 Vol.13, No.2, pp.164 – 187. DOI: 10.1504/IJMED.2014.062552

Laitinen, E.K. (2014). Influence of cost accounting change on performance of manufacturing firms. Advances in Accounting. Volume 30, Issue 1, June 2014, Pages 230–240.

Laitinen, E.K. & Lukason, O. (2014). Do firm failure processes differ across countries: evidence from Finland and Estonia. Journal of Business Economics and Management. Volume 15, Issue 5, 2014. Pages 810-832. DOI: 10.3846/16111699.2013.791635

Teija Laitinen & Erkki K. Laitinen (2014). Yrityksen maksukyky. Arviointi ja ennakointi. KHT-Media Oy. Porvoo. 2014. 287 p.

Laitinen, E.K. (2014). The association between CEO work, management accounting information, and financial performance: evidence from Finnish top managers. Journal of Management Control. December 2014, Volume 25, Issue 3-4, pp 221-257.

Laitinen, E.K., Lukason, O. & Suvas, A. (2014). Are firm failure processes different? Evidence from seven countries. Investment Management and Financial Innovations, Volume 11, Issue 4, 2014. 26-36.

Laitinen, E.K. & Laitinen, T. (2015). A probability tree model of audit quality. European Journal of Operational Research (2015). http://dx.doi.org/10.1016/j.ejor.2

Kärkinen, E. & Laitinen, E.K. (2015). Financial and non-financial information in reorganisation failure prediction. Int. J. Management and Enterprise Development, Vol. 14, No. 2, 2015. 144-171.

Lukason, O., Laitinen, E.K. & Suvas, A. (2015). Growth Patterns of Small Manufacturing Firms Before Failure: Interconnections with Financial Ratios and Nonfinancial Variables. International Journal of Industrial Engineering and Management (IJIEM), Vol. 6 No 2, 2015, pp. 59-66.

Laitinen, E.K. & Suvas, A. (2016). Financial distress prediction in an international context: Moderating effects of Hofstede’s original cultural dimensions. Journal of Behavioral and Experimental Finance. Original Research Article In Press, Accepted Manuscript, Available online 20 January 2016. DOI information: 10.1016/j.jbef.2015.11.003.

Brandt, T., Laitinen, E.K. & Laitinen, T. (2016). The effect of transformational leadership on the profitability of Finnish firms. International Journal of Organizational Analysis, Vol. 24, Iss. 1, pp. 81-106.

Altman, E.I., Iwanicz-Drozdowska, M., Laitinen, E.K. & Suvas, A. (2016). Financial Distress Prediction in an International Context: A Review and Empirical Analysis of Altman’s Z-Score Model. Journal of International Financial Management & Accounting. Volume 27. Issue 2. doi:10.1111/jifm.12053.

Laitinen, E.K., Laitinen, T. & Saukkonen, O. (2016). Impact of Reputation and Promotion on Internet Auction Outcomes: Finnish evidence. Journal of Internet Commerce. http://dx.doi.org/10.1080/15332861.2016.1157745

A. Länsiluoto, E. Varamäki, E.K. Laitinen, A. Viljamaa and J. Tall (2016) Management control systems in small business transfers: a resource-based view. Journal of Enterprising Culture, Vol. 23 No. 4, pp. 449-471. (DOI: 10.1142/S0218495815500156)

Kadak, T. & Laitinen, E.K. (2016). What Matters with PMS? Critical Check Points in the Success of PMS. In Marc J. Epstein, Frank Verbeeten, Sally K. Widener (Eds.): Performance Measurement and Management Control: Contemporary Issues. Volume 31. Emerald Book Series: Studies in Managerial and Financial Accounting. ISBN: 978-1-78560-916-9. pp. 111 – 140.

Laitinen, E.K., Länsiluoto, A. & Salonen, S. (2016). Interactive budgeting, product innovation, and firm performance: empirical evidence from Finnish firms. Journal of Management Control, online from 08072016, 1-30. DOI 10.1007/s00187-016-0237-2.

Lukason, O. & Laitinen, E.K. (2016). Failure processes of old manufacturing firms in different European countries. Investment Management and Financial Innovations. Volume 13. Issue 2. pp. 310-321.

Lukason, O., Laitinen, E.K. & Suvas, A. (2016). Failure processes of young manufacturing micro firms in Europe. Management Decision. Vol. 54 Iss. 8, pp.1966 – 1985. DOI: http://dx.doi.org/10.1108/MD-07-2015-0294

Laitinen, Erkki K. (2016). Financial failure of a startup: a simulation approach. International Journal of Management and Enterprise Development, Vol. 15, No. 4, pp. 282-306.

Laitinen, E.K. (2016). What Does a CEO of a Firm in Crisis do? Evidence from Finnish Firms. Archives of Business Research. Vol. 4, No. 5, pp. 01-34.

Altman, E.I., Iwanicz-Drozdowska, M., Laitinen, E.K. & Suvas, A. (2016). Financial and nonfinancial variables as long-horizon predictors of bankruptcy. Journal of Credit Risk 12(4), 1–30. DOI: 10.21314/JCR.2016.216

Laitinen, Erkki K. & Suvas, Arto (2016). The effect of national culture on financial distress prediction modelling: evidence from European countries. International Journal of Accounting & Finance. 6(4). 299-318.