1ANNUAL SUMMARY DEPARTMENT OF ACCOUNTING - STOCKHOLM SCHOOL OF ECONOMICS - Stockholm School of ...
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2021
ANNUAL SUMMARY
DEPARTMENT OF
ACCOUNTING
STOCKHOLM SCHOOL
OF ECONOMICS
DEPARTMENT OF ACCOUNTING 1
CONTENTS
FOREWORD 3
NEW MEMBERS AT THE DEPARTMENT 4
RESEARCH 10
DOCTORAL DISSERTATIONS 11
RESEARCH AWARDS & SCHOLARSHIPS 12
ACADEMIC PUBLICATIONS 13
RESEARCH IN THE SPOTLIGHT 17
TEACHING 21
NEW INITIATIVES 22
GUEST LECTURES 27
TEXTBOOKS 28
ALUMNI CATCH-UP 30
OUTREACH 32
HIGHLIGHTS 33
SPOTLIGHT OUTREACH PROJECTS 34
ACE ADVISORY BOARD 36
ACE EVENTS 37
COVER PHOTO BY JULIANA WIKLUND
FOREWORD
LETTER FROM THE HEAD OF DEPARTMENT
2021
has come to an end and In terms of outreach, our Accounting Center of
I want to take the oppor- Excellence is growing with two new companies;
tunity to thank all faculty Elekta and Skanska. Aleks Pop-Vasileva and Mar-
and staff as well as our stakeholders for your tin Carlsson-Wall together with all faculty and PhD
fantastic work and engagement during the year. students are doing a fantastic job in linking re-
In spite of an ongoing pandemic, we have had search and practice through, for instance, events,
many positive developments at the Department of guest lectures, workshops and online communica-
Accounting, Stockholm School of Economics. We tion. A few years ago we launched the ambitious
have, for instance, welcomed a record number of strategy to excel not only in research and teach-
five new PhD students, Aleksandra Pop-Vasileva ing, but also in outreach and the cogwheels below
has started a brand-new position as Lecturer with symbolize this strategy where we strive for a high
special outreach responsibilities, Lisa Larson has level of integration between research, teaching
started as Department Coordinator and Beatriz and outreach.
Garcia Osma has joined our team as Visiting
Professor. You can read more about them in the
Annual Summary.
In terms of research, our fantastic faculty has pub-
lished widely in journals such as Abacus, Account-
ing, Auditing & Accountability Journal, Accounting
and Business Research, The British Accounting
Review, Critical Perspectives on Accounting,
European Accounting Review, European Financial
Management, Financial Accountability & Manage-
ment, Journal of Accounting, Auditing & Finance,
Journal of Business Finance and Accounting, Qual-
itative Research in Accounting & Management
and Triple Helix. In addition, Liwei Zhu, Noor Figure 1: Department of Accounting Strategy with three cogwheels.
Alshamma, Milda Tylaite, Niclas Hellman and
Henrik Nilsson have been acknowledged for top I want to thank faculty, staff, and PhD students at
research in terms of Best Paper awards from the the Department of Accounting and all our stake-
European Accounting Review Annual Conference holders for a fantastic 2021. I am looking forward
and the Nordic Accounting Conference. to continuing this successful journey also for 2022
In terms of teaching, all faculty have done an and onwards.
amazing job in delivering courses, on-campus
as well as online. Our faculty are frequently
recognised for outstanding teaching performance Kalle Kraus
and the recent success when it comes to the re- Professor and Head of
cord high number of students in our new Bachelor Department of Accounting
specialisation in Accounting and Financial Man- Stockholm School of Economics
agement sends a strong signal that what we do is
highly appreciated by the students.
DEPARTMENT OF ACCOUNTING 3
NEW MEMBERS AT THE DEPARTMENT
OF ACCOUNTING
We are happy and proud to welcome a record number of five new PhD students (Fanny
Almersson, Anders Biörklund, Yao Cai, Sofia Martinez Dominguez, Isabella Nordlund),
Aleksandra Pop-Vasileva who has started a brand-new position as Lecturer with special
outreach responsibilities, Lisa Larson who has started as Department Coordinator and
Beatriz Garcia Osma who has joined our team as Visiting Professor. You can read
more about them here below.
DEPARTMENT OF ACCOUNTING 4
LISA LARSON, DEPARTMENT COORDINATOR
EDUCATIONAL BACKGROUND
I finished my Bachelor in Human Resources from Umeå University in June 2020.
PROFESSIONAL BACKGROUND
Throughout my HR studies I worked part – time at Länsförsäkringar´s HR department
in Umeå. After I finished my studies, I moved to Stockholm. In October 2020 i started
working at the HR Department here at Stockholm School of Economics. In September
2021, an opportunity came up to start working 50% as a Department Coordinator.
From November 2021 I am now working 50% with HR and 50% at Department of
Born in Luleå, Sweden Accounting. I think it is super interesting to be able to work with both professional
services and the faculty.
Started working at SSE
HOBBIES
in October 2020
I love to explore new places with friends and family. The best way to do that, accord-
ing to me is to have a competition or a specific goal to achieve when you are there.
Works at the Depart-
For example: Go to Reims in France and run the Marathon, visit a friend in Kiruna
ment of Accounting and
and climb to the top of Kebnekaise. I really enjoy spending time in the nature. Sleep
at the HR Department
in a tent, making your food over the gas stove and then go for a run in the morning.
That is amazing! Skiing and horse riding is also some of my biggest hobbies.
BEATRIZ GARCÍA OSMA, VISITING PROFESSOR
EDUCATIONAL BACKGROUND
I have a degree in Business from Universidad Autónoma de Madrid (Spain), where I
also completed a Masters in Research (DEA) in Accounting and Financial Economics.
Through Marie-Curie Scholarship, I obtained funding to do a PhD and a post-doc
at Lancaster University in the UK. A funny tidbit is that when I came back from UK,
I had to submit my PhD diploma for homologation (to be able to work in Spain).
A committee decided that my PhD stood for ”Doctor in Philosophy” full stop. Thus,
if you look up my Spanish official CV, you will see I appear to hold a second PhD
degree: in Philosophy. I wish I had such an extensive education. Alas, it was just a
Born in Madrid, Spain
clerk’s mistake.
Lived in the UK from PROFESSIONAL BACKGROUND
2003 to 2008 Since 2017, I am Professor of Accounting and Financial Economics at Universidad
Carlos III de Madrid. Since 2020, I am a Research Felow at ECGI. Currently, I am
Visiting Professor editor-in-chief of the European Accounting Review, the flagship academic Journal of
the European Accounting Association, where I also was Co-Chair of the Doctoral
Professor at Universidad Colloquium, a tremendously rewarding experience. I enjoy doctoral education above
Carlos III de Madrid all other academic endeavors.
and Research Fellow at
HOBBIES
ECGI. Editor, European
Outside of the University, I enjoy travelling and (guess it) eating out. Observing life,
Accounting Review
culture, and tradition in foreign countries is something I am keenly interested in. I am
grateful for the opportunities academic life has given me to meet people and visit
places around the world, and it is common for me to try to extend my conference
trips by a day or two, to take the time to visit those cities I do not know well.
DEPARTMENT OF ACCOUNTING 5
ALEKSANDRA POP-VASILEVA, LECTURER
EDUCATIONAL BACKGROUND
I finished a Bachelor in Economics degree in Macedonia in 2004, a four year pro-
gram with a double major in economics and business management. Upon my move
to Australia I completed the Honours (1st class) in Accounting program at The Faculty
of Business and Economics at Macquarie University, Sydney in 2008 (1 year Masters
with thesis equivalent). In 2009 I began the PhD program (part-time) at Macquarie
University and finished in 2017.
PROFESSIONAL BACKGROUND
Born in Skopje, Throughout my PhD studies I worked as a full time Lecturer (Assistant Professor) and
Macedonia tenured faculty at the Department of Accounting at Macquarie University. In 2017 I
accepted a Lecturer (Assistant Professor) position at Monash University in Melbourne
Lived in Australia from where I worked until my arrival at SSE.
2005 to 2020 HOBBIES
My main passions have always been languages and music. I speak three languages
Lecturer with special out- confidently and two more cautiously, and I look forward to add Swedish to my list.
reach responsibilities My music passion led me to a research project in the underground techno scene
in Melbourne whereby together with Professor Kalle Kraus and Associate Professor
Co-Director, The Ac- Martin Carlsson-Wall and we studied the control and identity issues of an indepen-
counting and Financial dent electronic music radio station and the underground dance music subculture
Management Center of more broadly. Throuhgout the project, I met and interviewed numerous DJ’s, attended
Excellence (ACE) dance music events and eventually was taught how to DJ myself. I spend my free time
discovering and collecting new music, advancing my music mixing skills, compiling
DJ sets either on my own or jointly with professional DJ friends for labels and promot-
ers, as well as playing live at the occasional party.
FANNY ALMERSSON, PHD STUDENT
EDUCATIONAL BACKGROUND
I completed a three-year bachelor in Business and Economics at the Stockholm
School of Economics (SSE) in 2019. Throughout my studies, I spent one semester
studying finance and management at Esade Business School in Barcelona. After
returning to SSE, I completed the two-year Master Program in Accounting, Valuation
and Financial Management in 2021. In August 2021, I joined the Department of
Accounting as a PhD student.
PROFESSIONAL BACKGROUND
Prior to my PhD studies, I worked as a research assistant at the Center for Sports
Born in Köping, Sweden
and Business. Moreover, I was a part of a project to implement Impact Weighted
Accounts to the 100 largest firms in Sweden together with Norrsken Foundation and
Background from study-
Harvard Business School.
ing at the Stockholm
School of Economics and HOBBIES
Esade Business School My biggest passion is sports, and I have a background in football, athletics, gymnas-
tics, and dancing. I have spent 12 years playing and coaching football, and during
1st year PhD Student in my time at SSE I have played in and coached the female football team (with a gold
Management Accounting medal in Euromasters 2017 as the biggest achievement). In addition, I spent one
year in the board of the Sports Committee. Although I nowadays spend most of my
Passionate about sports spare time skiing, snowboarding, and playing padel, I am excited to kick off my
first research project where I will study the management accounting in a Swedish
football club.
DEPARTMENT OF ACCOUNTING 6
ANDERS BIÖRKLUND, PHD STUDENT
EDUCATIONAL BACKGROUND
I have a Bachelor in Business and Economics (2015-2018) as well as a Master in
Accounting, Valuation, and Financial Management (2018-2020), both from SSE.
Started my PhD studies at the SSE Department of Accounting in August 2021.
PROFESSIONAL BACKGROUND
Worked as a research assistant at the Mistra Center for Sustainable Markets after
graduating the master in 2020 until I began my PhD studies at the SSE Department
of Accounting in August 2021. Before that I did an internship in the fall of 2019 for
Born in Karlstad, Sweden BMW Northern Europe where I worked on a project about internal control.
Lives in Stockholm since HOBBIES
2015 My main interests include food, reading, and hiking, preferably involving socializing
around a camp fire along with something to eat. The passion for cooking is without
1st year PhD student in question the one with most history (video proof suggest from the age of 2), being a
Accounting vital component of my daily life and I always enjoy a good dinner party. I am also
part of a book club with friends from the Bachelor studies, and in addition to reading
Affiliated researcher at the
we also use the book club as a forum for playing board games and discussing
Mistra Center for
stock-picking as we have a common interest in financial markets.
Sustainable Markets
YAO CAI, PHD STUDENT
EDUCATIONAL BACKGROUND
I majored in Accounting at Huazhong Agricultural University from 2014 to 2018 in
Wuhan, China. Meanwhile, I also minored in Taxation at Zhongnan University of
Economics and Law in 2016. In 2020, I got my MSc in Accounting, Valuation and
Financial Management from Stockholm School of Economics. And I am very excited
to “re-join” the Department of Accounting as a PhD student and be back in Stock-
Born and raised in
holm in September 2021.
Chongqing, a beautiful
mountain city on the HOBBIES
move in southwestern On the one hand, I am a passionate person. I have been a football enthusiast for
China. Fond of the spicy around 11 years. My favorite team is Manchester United and my favorite star is Cris-
delicacies there, e.g., tiano Ronaldo. I love doing sports as well. During my whole undergraduate stage, I
hotpot! played as a striker and sometimes center forward on the college football team, and
now I continue to play with some friends on weekends here in Stockholm. When I
1 year PhD student in
st
don’t play football, I work out at home (yeah weirdly I don’t like going to the gym).
Accounting On the other hand, I could also be a very quiet person who enjoys the tranquility of
“loneliness” very much. In my other spare time, I like reading, drawing and writing
bullet journals (while watching sitcoms). Dream about opening an independent book-
store one day in my elder time.
DEPARTMENT OF ACCOUNTING 7
SOFÍA MARTÍNEZ, PHD STUDENT
EDUCATIONAL BACKGROUND
I hold a Bachelor in Finance and Accounting from Universidad Carlos III de Madrid
in Spain, a four year program where I specialized in financial accounting. Right after
that, I completed a Master in Research in Business and Finance from Universidad
Carlos III de Madrid, where I started doing research in financial accounting and
corporate governance topics. My current research focuses on corporate governance
institutions such as boards of directors and how they shape firm outcomes and the
financial reporting process. In 2021 I started my PhD studies at the Department of
Accounting at Stockholm School of Economics.
Born in Roses, Spain
PROFESSIONAL BACKGROUND
1 year PhD student in
st
Throughout my master studies I worked as a Teaching Assistant for financial account-
Accounting ing courses in the bachelor program.
HOBBIES
Research in financial ac-
My hobbies include reading, learning languages and baking. I speak Spanish,
counting and corporate
Catalan and English. I’m also looking forward to learning Swedish and baking some
governance
traditional Swedish pastries these coming years.
ISABELLA NORDLUND, PHD STUDENT
EDUCATIONAL BACKGROUND
I finished a Bachelor in Business Administration with a specialization in Accounting
at Stockholm University in 2018. After a year of additional courses in Economics
and Economic History, I completed a two-year Master program in Accounting and
Management Control in 2021, at Stockholm University as well. In August 2021, I
joined the department of Accounting at Stockholm School of Economics as a PhD
student. My research interests lies with the roles and identities of the accountants as
well as accounting communication.
Born in Vallentuna, PROFESSIONAL BACKGROUND
Sweden Starting my second year of the Bachelor program, and up until my completion of the
Master, I worked as a Teaching Assistant at the Department of Accounting at Stock-
Background as Teaching holm University. Furthermore, during a period of my Master studies, I was part of a
Assistant and Research research project on Accounting Talk as a Research Assistant. Additionally, I am one
Assistant at Stockholm of the co-authors to a Swedish course book in accounting, Den Nya Affärsredovisnin-
University. gen, as of its latest edition (2021).
HOBBIES
1st year PhD student in Some of my interests are reading, languages and going to musicals. In terms of
Accounting genres for reading, it ranges from everything between non-fictional to fantasy. More-
over, I studied Italian for a while before starting my university studies. I would not
claim, though, to be able to speak it confidently, but would like to pick it up sometime
in the future.
DEPARTMENT OF ACCOUNTING 8
INTERVIEWS
We took the opportunity to do a short interview We also took the opportunity to do a short in-
with our new Visiting Professor Beatriz Garcia terview with Assistant Professor Irina Gazizova
Osma. who joined the department in 2020. Given the
peculiar pandemic time she joined the depart-
How have your first months been at SSE? ment, we reached out to Irina for her reflections
Beatriz: “SEE has given me the warmest of from her first year at SSE.
welcomes. I feel quite integrated within the
department, despite being a visiting scholar and How has your first year been at SSE/ Stockholm
having only been there for one week in person. in general?
I have joined in several seminars and doctoral Irina: “Even though I joined SSE in September
activities, as well as already started collaborat- 2020, the first year of the Covid-19 crisis, my
ing with members of the department. Overall, I transition was very smooth. I had a lot of sup-
am very positively impressed and look forward port and guidance from my new colleagues and
to the rest of the year.” the government. Stockholm and SSE are very
friendly for expats.”
How are you finding the department? What has
been your experience as new faculty? How are you finding the department? What has
Beatriz: “As noted, I have felt very welcome. been your experience as new faculty?
The department strong focus on excellence is Irina: “I think we have a very healthy and sup-
very motivating. I met many of the researchers portive environment at the department. It was
in the financial accounting group at an event very easy to get to know the faculty. Everyone
organized by Henrik Nilsson, which was a was welcome and open.”
great launch for the year. We discussed our
own projects and had the opportunity to give Is there anything unique/specific/interesting/
and receive feedback, as well as to learn about amusing that you may have noticed during the
current projects and bounce ideas off each oth- year that you would like to share?
er. I am very much looking forward to visiting Irina: “I think that having Wednesdays’ Fika
in the spring/summer, to see what advances the event is a very nice tradition. As a new person,
different projects have made and to perhaps I had the opportunity to interact with the faculty
start some new projects with the group.” in a less formal environment and with people
with whom I did not have any work overlaps.”
Is there anything unique/specific/interesting/
amusing that you may have noticed during the
year that you would like to share?
Beatriz: “I only attended one fika, but I am
already a huge fan. I look forward to joining
some more in the future!”
DEPARTMENT OF ACCOUNTING 9
RESEARCH DEPARTMENT OF ACCOUNTING 10
RESEARCH
The research at the Department of Accounting covers a broad range of ques-
tions related to management accounting and control, financial and sustain-
ability accounting, auditing and tax, and financial analysis, valuation and
corporate governance. Our faculty regularly publish in leading accounting
journals and employ both qualitative and quantitative methods.
PHOTO BY JULIANA WIKLUND
DOCTORAL DISSERTATIONS
Kai DeMott (previously Krauss) success- this may sound rather unromantic but,
fully defended his PhD thesis “Coping indeed, it has been a bit of a challenge
with financial stigma: a study of budget- for me personally with the pandemic, a
ary identity work in a candidature for small baby, and moving to North Amer-
the Olympic Winter Games” on May ica. However, everything turned out
28th, 2021. The dissertation is based great, in fact, better than I could have
on a case study of a candidature for the wished for in the end. I just signed an
Olympic Winter Games, where project offer and will start my tenure-track this
managers were occupied with pitching fall in Canada [Concordia University,
their budget for such a megaproject in Montreal], which my family and I are
the light of prevailing cost controversies. super excited about.”
In order to make sense of the challenges
If you had to reflect on your time at SSE,
faced by these managers, the concept
what are some of the most stand out ex-
of organizational stigma was mobilized
periences/memories that come to mind?
to offer a ‘reinterpretation’ of budgeting
Kai: “There are plenty of course, but
as a site for stigmatization, in which
what I will always hold in good memory
budgets may become key attributes of a
is just being around the department
financial stigma, which also makes them
among wonderful people. I loved just
pivotal objects in the identity work of
being there, whether sitting at my desk
organizational members. Based on this
focused or annoying colleagues with my
reinterpretation, the study answers the
questions. It is a place that also allowed
question of why and how organizational
me to embrace the well-needed silliness
members cope with the financial stigma
at times, chatting on the hallway, the
of megaprojects like the Olympic Games
Fikas, the spontaneous after-work beers,
through budgeting.
or Wäng-lunches together. I think those
more intimate encounters have been
We took the opportunity to talk to Kai
just as inspiring and important for me in
DeMott.
the PhD process as any formal seminars
What have you been up to since finish- or courses. In the same way, I also just
ing your PhD at SSE? loved attending conferences and doctor-
Kai: “Writing papers, attending work- al colloquia, especially when we came
shops, and looking for a job. I know as a bunch from SSE, because those
DEPARTMENT OF ACCOUNTING 11were just great opportunities to learn think goes hand in hand. However, in
from others in the field, to get connected the light of my answers before, I think
and establish a network – something I one of the most important things SSE has
utterly benefited from in my recent job given me is some sort of momentum that
search, but also for finding out where I continues beyond my PhD studies. Since
fit in, so to say, and for collaborations completing my degree, I see how the
going forward.” world of academia keeps opening up to
me, how it seems to make more sense
What would you say SSE has taught you
one step at a time, and I feel that I still
during your studies that you will take
keep progressing when it comes to my
with you in the future or that you have
writing, my interest in (and sensemak-
already applied since completing your
ing of) the literature, and basically in
degree?
forming my own identity as a researcher
Kai: “It is kind of funny now looking at
and teacher. In that sense, SSE has not
SSE ‘from the outside’ and the things I
only taught but ‘triggered’ me, which I
took with me. I can certainly say that
consider an invaluable gift for which I
I have learned a great deal when it
will always be thankful!”
comes to the craft of an academic, but
also about myself personally, which I
RESEARCH AWARDS & SCHOLARSHIPS
During 2021, our faculty and PhD students have
been recognized for outstanding research.
Professor Henrik Nilsson, Assistant PhD student Liwei Zhu and PhD student
Professor Tomas Hjelström, Professor J-P Noor Alshamma received the prestigious
Kallunki and Assistant Professor Milda PhD award for Best Paper at the Nordic
Tylaite received an Honourable mention, Accounting Conference 2021 held in
runner up for the best paper award in Copenhagen (11-12 November 2021).
European Accounting Review 2020 Liwei’s paper is entitled “Do audit part-
(announced in January 2021), for the ners learn from the bankruptcy of their
paper entitled “Executives’ Personal Tax clients?” and Noor’s paper is entitled
Behavior and Corporate Tax Avoidance “The co-movement of stock prices and
Consistency”. fundamental values: The role of firm
characteristics and investor sentiment.”
Professor Henrik Nilsson, Acting Pro-
fessor Niclas Hellman and Assistant Assistant Professor Ting Dong was
Professor Milda Tylaite received the Best awarded a Wallander scholarship for
paper award at the 2021 European outstanding thesis, a three year full
Accounting Review Annual Conference research financing. Her thesis is entitled
(19-20 November 2021), for their paper “Essays on the supply and demand for
entitled “Mandatory Adoption of IFRS auditing service.”
for SMEs based Reporting Standards in
Private Firms: A Swedish Regulatory Ex-
periment” (Co-author: D. Vural -Meijer)
DEPARTMENT OF ACCOUNTING 12ACADEMIC PUBLICATIONS
This year has been particularly successful for our faculty based on the volume
of accepted and published peer-reviewed articles.
Carlsson-Wall, M., Goretzki, L., Hofstedt, J., Kraus, K. & Nilsson, C-J. (2021).
“Exploring the implications of cloud-based enterprise resource planning systems for
public sector management accountants”. Financial Accountability & Management,
http://doi.org/10.1111/faam.12300
Based on a case study of a large Swedish local government municipality, this paper
captures the complexity of a CERP system implementation, by unpacking the effects
of how cloud-based systems are used in practice and how they are implicated
in the performance of management accountants’ role. CERP systems can pose a
double-edged sword for public sector management accountants—enabling and
constraining their role.
Carlsson-Wall, M., Goretzki. L., Kraus, K. & Lind, J. (2021). “Exploring the Role of
Management Control Anchor Practices in New Product Development”. European
Accounting Review, 30(2), 251-276, https://doi.org/10.1080/09638180.2020.176
3187
This paper shows how certain management controls become more guiding than
others in the management of new product development (NPD). The findings detail
how the opportunity space within which managers maneuver NPD can be under-
pinned by a hierarchically arranged management control infrastructure governed by
management control anchor practices that enable ‘anchored prioritizations’ through
which some concerns become ‘more important’ than others.
Carlsson-Wall, M., Iredahl, A., Kraus, K., & Wiklund, M. (2021). “The role of man-
agement controls in managing heterogeneous interests during extreme situations: the
Swedish migrant crisis in 2015”. Qualitative Research in Accounting & Management,
18(1). https://doi.org/10.1108/QRAM-05-2018-0030
This paper explores the role of management controls in managing heterogeneous
interests during extreme situations through interviews and observations, analysing
the Swedish Migration Agency’s management controls and study routines during the
peak of the European Migrant Crisis.
Carlsson-Wall, M., Kaarbøe, K., Kraus, K., & Meidell, A. (2021). “Risk management
as passionate imitation – the interconnections among emotions, performance metrics,
and risk in a global technology firm”. Abacus, 57(1), 72-100.
https://doi.org/10.1111/abac.12193
This paper traces the evolution of risk management practices in a global technology
company between 2000 and 2015. We extend recent research that has highlighted
the emotional aspects of riskwork. We detail how a passionate interest—‘we can do
better at risk management’—emotionally ‘hooked’ the staff in the company’s Sourc-
ing Unit. Risk management, emotion, and management controls were intertwined.
DEPARTMENT OF ACCOUNTING 13ACADEMIC PUBLICATIONS
Chua, W. F., Graaf, J., & Kraus, K. (2021). “Mapping and contesting peer selection
in digitalised public sector benchmarking”. Financial Accountability & Management,
https://doi.org/10.1111/faam.12306
Based on a case in a large Swedish local government municipality, this paper inves-
tigates the impact of a digital database and benchmarking device – Kolada, used
to compare the performance of Swedish municipalities. Tracing the introduction,
development, and use of the digital database, the study moves beyond a focus on
“technical problems” and shows how digitalized benchmarking was not a politically
neutral or asocial process.
Eugster, F., Kallunki, J., Nilsson, H., & Setterberg, H. (2021). “IQ and corporate insid-
ers’ decisions to time insider and outsider trading”. European Financial Manage-
ment. https://doi.org/10.1111/eufm.12302
The article examines how corporate insiders’ cognitive ability (IQ) affects their
decisions to time insider and outsider trading before abnormal stock price changes
based on archival data analysis on male corporate insiders in Sweden.
Eugster, F. & Wagner, A. (2021). “Earning investor trust: The role of past earnings
management”. Journal of Business Finance and Accounting, 48(1-2), 269-307
https://doi.org/10.1111/jbfa.12477
The paper examines whether earnings management, albeit legal, hinder investor
trust in reported earnings as well as whether investors regard earnings management
as a way for firms to convey private information, or simply as a neutral feature of
financial reporting. The findings suggest that past abstinence from earnings manage-
ment increases investor responses to future earnings surprises.
Gatti, S., Ivanova, M. N., & Pündrich, G. (2021). “Corporate Bankrupt-
cy and Directors’ Reputation: An Empirical Analysis of the Effects on Pub-
lic Debt Contracts”. Journal of Accounting, Auditing & Finance, https://doi.
org/10.1177/0148558X211015533
This article investigates the link between board members’ past professional expe-
riences and the terms and conditions of the debt contracts of their current firms. In
particular, we examine whether directors’ past bankruptcy experience affects the
pricing and nonpricing terms of public debt contracts. Using a sample of 8,142
bond issues in the United States in the period 1995 to 2015, we document higher
credit spreads and smaller bond sizes for firms with such directors, suggesting that
bondholders are concerned about past bankruptcy experience.
Goretzki, L., Löhlein, L., Schäffer, U., Schmidt, A., & Strauss, E. (2021). “Exploring
the Role of Metaphors in Social-Identity Construction: The Case of the German Con-
troller”. European Accounting Review, https://doi.org/10.1080/09638180.2021.1
882318
This study explores the rhetorical strategies underlying the discursive construction
of the German controller social-identity in the mid-1970s. This study complements
previous research on management accounting professionals struggle with different
role models for the management accountant, investigating how broader ideas about
the management accounting professional are discursively constructed.
DEPARTMENT OF ACCOUNTING 14ACADEMIC PUBLICATIONS
Goretzki, L., Reuter, M., Sandberg, J. & Thulin, G. (2021) “Making sense of employ-
ee satisfaction measurement – A technological frames of reference perspective”. The
British Accounting Review, https://doi.org/10.1016/j.bar.2021.101032
Based on a qualitative case study investigating the application of a new employee
satisfaction measurement system in a large camping chain undergoing a post-merger
integration, this study provides a phenomenological perspective that illuminates how
groups of actors interpret and enact the means and ends of employee satisfaction
measures in situated and emergent patterns of use. This study highlights how the or-
ganizational role of an employee satisfaction measurement system is not determined
a priori by its intended purpose or inscribed structural features, but subject to actors’
sensemaking.
Graaf, J. (2021). “Can Sell-side Analysts Compete Using Public Information? Ana-
lysts as Frame-makers Revisited”. European Accounting Review, https://doi.org/10.
1080/09638180.2021.1942945
This paper extends qualitative research on sell-side analysts by investigating how
analysts compete against each other in the market for investment advice. The paper
challenges the assumption that analysts must utilize private information in such
competition, and investigates the role of a public setting – the quarterly earnings
presentation – for analysts’ analytical work and client communication.
Graaf, J., Kraus, K., & Strömsten, T. (2021). “The problematics of financialization–
On the important (but neglected) horizontal axis of organizational action”. Critical
Perspectives on Accounting, https://doi.org/10.1016/j.cpa.2021.102339.
This study traces the financialization of the Swedish telecommunications company
Ericsson from 1990 to 2000. Previous research has explained financialization in
terms of the influence of actors (e.g., fund managers and financial analysts) and
accounting technologies (e.g., increased use of stock options and financially orient-
ed incentive systems) associated with what Hopwood (1983) labelled the vertical
axis of organizational action. Our case, however, shows that the horizontal axis of
organizational action (Ericsson’s inter-firm relationship with the lead firm Vodafone)
played a pivotal role.
Hellman, N. (2021). “Discussion of ‘Accounting for intangible assets: suggested
solutions’”, Accounting and Business Research, https://doi.org/10.1080/00014788
.2021.1984906
The paper offers a discussion how normative accounting research, relevant to stan-
dard setters is relatively underdeveloped, and that empirical research is constrained
by accounting practice. The discussion focuses on three areas: (1) single project vs.
portfolios, (2) internally generated vs. purchased assets and (3) measurement after
recognition.
DEPARTMENT OF ACCOUNTING 15ACADEMIC PUBLICATIONS
Ivanova, M. N., & Prencipe, A. (2021). “The Effects of Board Interlocks With an
Allegedly Fraudulent Company on Audit Fees”. Journal of Accounting, Auditing &
Finance, https://doi.org/10.1177/0148558X20971947
Drawing on prior literature on audit fees, client reputation, and corporate gover-
nance, the paper posits that a material adverse event at a firm, such as a financial
fraud allegation, leads to an increase in the audit fees of firms connected to the
former by a board interlock.
Lewensohn, D., Sjögren, E., & Sundberg, C. J. (2021). “Does Productive Mean Active?
The Behavior of Occasional and Serial Academic Inventors in Patenting Processes”.
Triple Helix, 8(1), 163-215. http://doi.org/10.1163/21971927-bja10021
Based on interviews with twenty Swedish academic inventors of diverse patenting
experience, this paper analyses how serial and occasional inventors acted in patent
initiation, patent application and subsequent patent management for specific inven-
tions. findings suggest that commonly used volume-based classifications of academic
inventors obscure potentially relevant behavioral differences.
Schrøder, I., Cederberg, E., & Hauge, A. M. (2021). “What is good work in a hybrid
organization? On the efforts of sequencing registers of valuation”. Accounting, Audit-
ing & Accountability Journal. https://doi.org/10.1108/AAAJ-12-2019-4328
This paper investigates how different and sometimes conflicting approaches to perfor-
mance evaluations are hybridized in the day-to-day activities of a disciplined hybrid
organization–i.e. a public child protection agency at the intersection between the
market and the public sector, based on a one-year ethnography.
PHOTO BY JULIANA WIKLUND
DEPARTMENT OF ACCOUNTING 16RESEARCH IN THE SPOTLIGHT
Exploring the implications of cloud-based enterprise resource planning
systems for public sector management accountants
Recently published research from Associ- management accountants to
ate Professor Lukas Goretzki, Associate mobilize their specific exper-
Professor Martin Carlsson-Wall and Pro- tise in performing their roles.
fessor Kalle Kraus in Financial Account- The findings suggest an am-
ability & Management explores how the bivalent role of cloud-based
implementation of a Cloud-based Enter- technology in the context of the work of
prise Resource Planning (CERP) system public sector management accountants
in a public sector organization affects its due to varied experiences amongst
management accounting function. central management accountants versus
Like traditional ERP systems, CERP in- the local management accountants.
cludes multiple organizational functions The CERP system enabled central man-
such as accounting, procurement, and agement accountants to mobilize their
production; however, the software is no specific expertise as it eliminated man-
longer stored or developed in-house. ual work, increased transparency, and
Cloud-based computing is proclaimed made them feel more comfortable with
to be a key digital trend for both private the numbers. However, the less flexible
and public sector organizations inform- features of a CERP system provided by
ing their strategies and changing the external vendors, such as limited custom-
way information technology is delivered, ization, posed a challenge for the local
deployed, used, maintained, and re- management accountants in serving the
sourced. different needs of a diverse range of
Based on a case study of a large Swed- managers and business units.
ish local government municipality, the Although both focal groups of analysis
paper captures the complexity of a CERP belonged to the same occupation, look-
system implementation, by unpacking ing at the different attitudes that central
the effects of how cloud-based systems and local management accountants
are used in practice and how they developed toward the CERP system, the
are implicated in the performance of study found that they framed the role
management accountants’ role. CERP of technology differently. While local
systems can pose a double-edged sword management accountants expected
for public sector management accoun- a tool that should enable drawing on
tants—enabling and constraining their local expertise to produce tailor-made
role. Consequently, this research looks at information for their local units, central
how the CERP system is developed; who management accountants saw the CERP
“controls” the system, and ultimately de- system as a tool that allowed them to
cides on the features to include; the ide- consume prefabricated “high-quality”
ology embedded in the system; the kinds information to assure efficient and risk-
of expertise inscribed in the system; and free accounting processes throughout the
how this, in turn, enables or constrains entire organization.
DEPARTMENT OF ACCOUNTING 17The implications from these findings sug- fore add to the list of challenges that
gest that cloud technology constitutes a public sector management accountants
risk if accounting and control processes experience when trying to be(come)
become unduly inflexible and cumber- business partners.
some at the local level. Coping with an
inflexible cloud-based system may there-
Making sense of employee satisfaction measurement
New article co-authored by Associate can be subject to actors’ incongruent
Professor Lukas Goretzki and Assistant sensemaking, eventually leading to
Professor Marek Reuter published in tensions within the organization. More
The British Accounting Review invites specifically, it illustrates how actors
a more critical reflection on employee might interpret employee satisfaction
satisfaction measurement as a means measurement as a form of non-traditional
to manage employee morale. The mea- results control, as an empowerment tool,
surement of employee satisfaction has or a merely ceremonial practice with
assumed a status as a taken-for-granted little or no significance. The study fur-
representation of an organization’s thermore shows how for employees who
“social bottom-line”. This study, however, interpret employee satisfaction measures
highlights how the organizational role of as empowerment tools, the application
an employee satisfaction measurement of such systems is prone to elicit mem-
system is not determined a priori by its bers’ hopes, desires, and expectations
intended purpose or inscribed structural vis-à-vis management relating to their
features, but subject to actors’ sensem- ‘voice’ within the organization. The
aking. realization that an employee satisfaction
Based on a qualitative case study investi- measurement system does not trigger the
gating the application of a new employ- hoped-for discussions among managers
ee satisfaction measurement system in a about employee wellbeing might spur
company undergoing a post-merger inte- dissolution and frustration amongst em-
gration, this study provides an in-depth ployees. The study in this sense cautions
perspective that illuminates how different us that one should be careful assuming
groups of actors can interpret and enact that both subordinates and superiors or
the means and ends of employee satis- even different (groups of) subordinates
faction measures in various and at times engage with an employee satisfaction
conflicting ways. measurement system with similar motives
This research demonstrates how employ- in mind.
ee satisfaction measurement systems
DEPARTMENT OF ACCOUNTING 18Mapping and contesting peer selection in digitalised public sector benchmarking
New publication in Financial Accounting implement more focused strategies for
& Management by Assistant Professor improving organizational performance.
Johan Graaf, Professor Kalle Kraus and One of the key impediments to bench-
Professor Wai-Fong Chua offers insights marking of the Swedish municipalities in
into the digital transformation of the pub- the past was that information was col-
lic sector by investigating the influence lected, arranged, and made available
of digitalization on the process of bench- by over 50 different organizations (e.g.,
marking and, in particular, the peer various governmental agencies). Follow-
selection process. The use of information ing the introduction of Kolada, all Swed-
technology is extensively embedded in ish municipal statistics are held in one
the public sector bringing efficiency and database, irrespective of their source.
speed to the delivery of public services. The database contains thousands of
However, the use of information technol- different performance indicators for
ogy also raises concerns—ranging from hundreds of municipalities, all of which
data security to privacy breaches and can be used to quickly compare and
algorithmic governance. rank any selection of municipalities. The
Based on a case study conducted in a Comparer function of the Kolada guides
large Swedish local municipality, the users by dividing a municipality into
paper investigates the impact of a digital different service areas, to then display a
database and benchmarking device selection of indicators for comparison.
– Kolada, used to compare the perfor- For quality controllers, working in central
mance of Swedish municipalities. Trac- administrative departments of municipal-
ing the introduction, development, and ities, Kolada enabled a more abstract,
use of the digital database, the study acontextual form of algorithmically sup-
moves beyond a focus on “technical ported benchmarking that was quickly
problems” and shows how digitalized performed from office desks. The quality
benchmarking was not a politically neu- controllers viewed Kolada’s comparative
tral or asocial process. options as enabling a more fact-based,
The emergence of benchmarking has “objective” choice of comparative peers,
followed the rise of new public man- which aimed to appeal to a broad set
agement and the “modernization” of of decision makers. However, politicians
the public sector, similar to many other and practitioners “on the ground,” in
management control techniques. Conse- comparison, were interested in detailing
quently, different types of public sector what peers (as competitors and/or role
organizations have seen the adoption models) were doing and how they were
of benchmarking, often in response to improving their services. Being interested
a lack of generally accepted evaluation in “applied science”, Kolada’s outputs—
criteria for operations. Such relative which lacked localized detail—failed to
evaluations have been assumed to re- persuade the practitioners. Pure science
duce uncertainty regarding an organiza- was too generic, too decontextual-
tion’s quality, productivity and efficiency, ized, and the more singular forms of
thereby enabling decision makers to comparability generated by Kolada’s
DEPARTMENT OF ACCOUNTING 19digital algorithms were considered less learning process.
important, both cognitively and affective- Furthermore, the study suggests that flex-
ly, than “imperfect” and localized forms ibility and freedom in the peer selection
of comparison with neighbours that had process can counteract the some of the
constituted past practices. more problematic features of benchmark-
The findings indicate that choosing peers ing (e.g., competitiveness and gaming
that “matter” is a critical decision due behaviour). Different peer groups are
to the affective ties in the benchmarking associated with different legacies and af-
process. The benchmarking peers that ford different responses to the indicators.
mattered over time would turn into role Such flexibility in peer selection could
models, collaborators, competitors, and thus aid public sector organizations to
much more, and this engaged a broad accommodate the many different de-
range of stakeholders and associat- mands and needs of their stakeholders
ed emotions. The risk in employing and create some independence from a
benchmarking without affective ties to single perspective on performance.
those who are selected as “peers” is that
attention is put on the indicator values
and average scores rather than on the
DEPARTMENT OF ACCOUNTING 20TEACHING DEPARTMENT OF ACCOUNTING 21
TEACHING
Our teaching is highly appreciated by both students
and executives and our faculty is engaged in teaching
at the bachelor, master, MBA levels as well as at SSE
Executive Education. We offer, for instance, a two-year
Master Program in Accounting, Valuation and Financial
Management, known for its practical relevance and
excellent placement of the students. Following the
extension of the pandemic-related working conditions
throughout 2021, the department’s teaching activities
adjusted accordingly, with faculty delivering courses
in fully digital or hybrid format (following the easing
of pandemic restrictions). In October 2021, the school
enthusiastically saw the return to the physical classes
and welcomed students to the full classrooms. Having
to accommodate to the changing government health
recommendations resulted in the acquisition of new
streaming studio equipment as well as the further devel-
opment of faculty teaching skills, routines and practices
applicable to diverse modes of delivery.
PHOTO BY JULIANA WIKLUND
NEW INITIATIVES
We have re-designed the mandatory bachelor courses in the Business and Economics
bachelor program. During 2020 and 2021 they went live. We now offer two mandatory
courses, BE301 Accounting I: Understanding Financial Reports; and BE302 Accounting II:
Analysing Performance.
Description of BE301 Accounting I: Understanding Financial Reports
Accounting and organizations. Why is and the cash flow statement. It also
accounting so important in business life? means understanding the links between
What is the difference between financial the three reports, as well as the effects
accounting (one of the two accounting of specific company decisions on these
‘dialects’) and management accounting financial reports. For example: What is
(the other ‘dialect’)? This introduction will the difference between profit and cash
put accounting in a broader perspective. flow? How is development of new prod-
The language of financial accounting. ucts represented in the financial reports?
Financial accounting captures the What happens in the reports when a
financial consequences of both strategic company issues new shares? How does
and operational business decisions. You a firm’s growth strategy show up in the
should be able to use and understand balance sheet?
an annual report. This means under- The language of management ac-
standing the form and contents of the counting. Management accounting is
income statement, the balance sheet useful for describing and analysing an
DEPARTMENT OF ACCOUNTING 22organisation’s activities as projects with agement accounting is also useful for
different periods. Managers often think analysing costs, which is important for
of everyday activities as projects/invest- both production and pricing decisions.
ments. How are investments evaluated We will compare and contrast the view
from a management accounting point of costs from a financial accounting (i.e.
of view? We will learn common capital income statement) perspective with the
budgeting techniques such as the net view of costs in management accounting
present value and payback method. reports (i.e. internal financial reports).
Financial accounting is typically con- What methods do we have for product
cerned with finding annual (or shorter) costing? We will learn break-even
periodic measures of performance. analysis, direct/contribution costing and
What tensions does that create when, full costing and these methods will be
for instance, trying to measure quarterly discussed in relation to the costs seen in
profits in an infrastructural project whose the income statement.
useful life might be 60 years? Man-
Description of BE302 Accounting II: Analysing Performance
The course is divided into three blocks. The third block is about value creation.
The first block deals with liquidity and We will analyze operating profitability
working capital management. Working as the primary source of value creation.
capital is a strong indicator of compa- We will then introduce the concept of fi-
nies´ financial health. We will evaluate nancial leverage and its implications for
whether companies have adequate cash the owner´s profitability. Further, we will
flows to be able to run its operations, look into growth strategies and their con-
and how to optimize the working capital sequences for financials. Companies can
and companies´ funding. Therefore, we grow in an organic way or by mergers
will also talk about source of financing. and acquisitions so we will link to block
The second block deals with mergers two. Companies need good cash flows
and acquisition. M&As are often an that support the growth and find optimal
inherent part of companies´ growth strat- financing so we will link also to block
egies. In the course, we will look at their 1. Finally, we introduce sustainability
consequences for financial reporting. as a crucial value driver and integrate
This knowledge will be crucial for the non-financial performance measures into
third block. In performance evaluation the overall performance analysis.
we need to have a good understanding
of group structures and their effects on
financial statements.
We also took the opportunity to talk to Assistant Professor Katerina Hellström who
is the Course Director for course BE302 and has been in charge of designing and
delivering the course.
Katerina: “Starting a new bachelor feel the atmosphere, you need to know!
course is always challenging and as Then you start to get the feedback from
faculty you wonder: How will the course students and your pulse goes down.
be accepted? How will I engage 300 You can sleep again. Everything will be
students? Is everything on place or did fine.”
I forget anything? And then you start. Katerina continues: “Autumn 2021 I
You do not sleep, you worry, you try to have learned three things that are crucial
DEPARTMENT OF ACCOUNTING 23for a course success. The first is faculty material. But what you should rather do
engagement. Without enthusiasm you do is to uncover material.”
not get anywhere, you have to have fun Katerina: “And finally some bullet points:
as teacher. Show a genuine interest in • Clear and logical structure is A and O
students as a group and as individuals. • Digital tests throughout the course en-
The second is you should not be afraid of hance learning from the very beginning
trying new things. Test new digital tools, of the course
test new methods, test new cases, learn • Focus on principles and the big picture
yourself while you make others learn. rather than small details”
The third is words I have heard from a
SSE colleague: “Teachers try to cover the
3313 - Investments and Value Creation in Global Sports
During the fall of 2021, Martin Carls- Some of the more well-known schools
son-Wall, Tomas Hjelström and Per were Haas School of Business, Univer-
Strömberg (Finance Department) deliv- sity of California Berkeley, Yale School
ered a new course called “Investments of Management, HEC Paris, ESADE in
and Value Creation in Global Sports”. Barcelona, Hertie School of Governance
The course was given digitally and in Berlin, Indian Institute of Management
offered to students in SSE’s international in Bangalore, Hong Kong University
networks GNAM (Global Network for of Science and Technology, National
Advanced Management), CEMS and University of Singapore and University
Civica. In total, 68 students from 19 of New South Wales in Sydney.
schools in 16 countries participated.
Below Associate Professor Martin Carlsson-Wall reflects on the design and delivery
of 3313.
Martin: “Conducting the course digitally, could be built around five C:
it truly offered a global experience. For • Content
example, when we started lectures at • Context
15.00 in Stockholm, the time was 01.00 • Community
in Sidney and 06.00 in San Francisco. • Contacts
Digitalization also enabled us to get • Confidence
global thought leaders as guest lectures. Starting with content and context, they
Dan Singer (Global Head of Sports are ideal for digital tools. In terms of
and Entertainment at McKinsey) called content, we can leverage global guest
in from New York, Ebru Köksal (former lecturers and in terms of context, students
CEO of Galatasaray Football Club and can understand sport from different per-
now Chair of Women in Football) tuned spectives. However, community, contacts
in from Turkey and Ricardo Fort (former and confidence are more difficult to gain
Global Director of Sponsorship for both through digital means. Here, one needs
Coca-Coca and VISA) gave his guest physical experiences where all senses of
lecture from Atlanta in Georgia (US).” the human body are activated. Because
Martin continues: “However, finding of this, we “extended the physical class-
inspiration in SSE President Lars Stran- room” for the SSE students that were
negård’s vision for future education, the present in Stockholm. As a start, we
course experimented with both digital had a joint dinner where we had time
and physical elements. According to to get to know each other. This was fol-
Strannegård, the future education of SSE lowed up by field trips to football clubs
DEPARTMENT OF ACCOUNTING 24and ice hockey clubs where we also lectures about the growth of the padel
watched games. In terms of developing industry and then meeting at night for
relationships with future employers, we another dinner. Extending the classroom
created a “sports day” with one of the experience both digitally and physically
most distinguished Sport Tech companies worked well. Here are some quotes from
in Stockholm. This included playing the course evaluation:
padel with their senior partners, hearing
“The expertise and quality of the guest lecturers and professors were outstanding. I
found it extremely valuable and insightful to be exposed to such high-profile indus-
try professionals.”
“The combination of theory and practice was the main strength. It was amazing to
have so many different perspectives on how to work with sports and what different
career paths are available for us after leaving SSE. Also, a big highlight needs to
be given to the incredible outside Zoom events such as the kick-off dinner with Citi-
bank, the football and ice hockey matches with Djurgården, the dinner with Jonas
Persson [Sport Tech CEO], the visit to the Swedish Hockey League and the tour of
Tele2 Arena. This was a course I will always remember and be thankful to SSE that
they organized because it was really a match between my passion and interests.”
“I have been sharing my learnings about this course with my network and I think
I have been very effective about evangelising potential students for the future. In
brief, this course will provide you with tools to understand the mechanics of sport
as an industry as well as a passionate interest. It will allow you to look a bit deeper
behind the headlines to understand what is actually going on and what it might
been for the future of the sport you are interested in.”
We also asked Assistant Professor Marek Reuter to provide some reflections on
his teaching in the B&E Reflections Series, a brand-new course in the Business and
Economics Bachelor program.
Marek: “In 2020 and 2021 I had the ally literate’ are shouldered within the
chance to, as a teacher, take part in a realms of The Series.”
novel, and as I perceive it rather exciting Marek continues: “The course is orga-
and fruitful, educational initiative at SSE nized in smaller seminar groups of 20
– The B&E Reflection Series. ‘The Series’, participants each, all of which undergo
as faculty members and students came 7 colloquia over the course of one
to informally call it, is a pioneering and a half years. Although the specific
effort, the overall purpose of which is seminar contents would be designed by
to promote students’ reflective thinking the respective seminar group teachers,
abilities beyond what is encountered there are two basic elements: (1) course
in most other vocational skills-oriented coherence and (2) a lead read. In
courses. The idea is to nurture a spirit context of the former, the students are
of life-long learning with a creative eye prompted to reflect upon their study
towards the future. Hereby individual program as an integrated, coherent
student development is encouraged and whole, as opposed to assemblage of sin-
the SSE FREE-acronym is substantiated. gle courses. Here, science philosophy,
In particular the traits of ‘Reflective and that is the positivist, interpretive, and
self-aware’ and ‘Empathetic and cultur- critical research paradigms, as well as
DEPARTMENT OF ACCOUNTING 25You can also read
