Purpose – The paper seeks to introduce a method based on the Markowitz mean‐variance portfolio approach to outline a theory of future firm, its environment, and management accounting systems (MASs). The approach is based on the target to choose propositions for the theory to maximise...

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...

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...

The purpose of the research is to analyse the ability of nonfinancial factors to predict value creation in Finnish technology firms. Nonfinancial factors are defined in terms of a large set of variables on organizational characteristics, strategy, competitive stance, consistency of performance...

Survival analysis is statistical technique that uses longitudinal data to model the process that allows an individual or firm to survive to a particular point in time. Despite a large number of studies that use survival analysis to model the duration of time that precedes financial distress,...

The study develops a mathematical model of the firm to derive theoretical foundations for the balanced scorecard concept (BSC). The model is based on several parts which are integrated into a company model. This model includes the demand function, the production function and the objective...

Purpose The purpose of this paper is to find out which different failure processes exist among the young manufacturing micro firms, and whether the representation of those processes differs first, in European countries, and second, among exporting and non-exporting firms....

This paper presents a model for predicting crises in small businesses using early‐warning signals. It summarises the results of two separate studies carried out in Finland (with 72 per cent response) and the UK (26 per cent) on the decision process of corporate analysts (Finland) and bank...