Economic Analysis and Accounting Division

The Economic Analysis & Accounting Division at Nord University Business School works with issues in business economics and accounting, finance, transport economics, logistics, social economy and quantitative method.

​​​​​ The research focuses mainly on accounting norms, municipal economics, financial management in small and medium-sized enterprises, management and management systems, financial management as value creation tools, transport and logistics in The High North areas and financial management in international companies. The research group has an international environment in public accounting, and a nationally leading research group in logistics and transport.

The Economic Analysis & Accounting Division has a large externally funded project portfolio and considerable international research activity. The number of employees is 73, of which 16 are fellows.



​​​Research groups

Management and accounting for organizational adaptation in changing environments (MACE)

About the group  

The main scientific goal of the MACE research group is conducting research and dissemination (e.g. peer-reviewed journals, popular scientific publications, and teaching) in order to produce knowledge that improves our understanding of how the design and use of accounting and management control systems help organizations to adapt to their changing organizational environments. The strategy is to publish research results in relevant journals that have high academic standing in the field of accounting and management control and to develop new competence by attracting PhD students and Postdocs. The research approach is based on the interpretative research paradigm and case studies where cooperation with non-academic partners from practice field is an essential part of data collection strategy. To some extent, we are also engaged in action research.

The research group is one of the research pillars at the Nord University Business School (HHN). Nord University's (NU) strategy is to promote research in the areas of 1) blue and green growth, 2) development of the welfare society and 3) innovation/entrepreneurship for industrial development, innovation and value creation. In line with these strategies, the activities of the research group contributes to the above- mentioned areas 1) by making research on innovations in accounting and management control process in general and 2) in terms of abilities and capacities of especially public sector organizations to improve the efficiency and effectiveness of welfare production.

RESEARCH PROFILES

The research group profile consists of four sub-profile units that cover particular sub-topics related to study of design and use of accounting and management control systems. We focus on accounting and management control as a system(s) handled by managers in order to enable organizations to achieve their goals in an efficient and effective matter. This is often perceived as consisting of systems handling information that supports decision-making and control processes in an organization, including but not limited to accounting, budgeting, forecasting, reporting, developing rules and procedures, etc. Because organizations operate in constantly changing institutional environments (due to different pressures like reforms, economic crises, globalization/protectionism, climate change), accounting and management control are supposed to help organizations to adapt to these institutional changes. The common aim of the four units is to contribute to better understanding of how an organization "responds" and "stays tuned" in relation to environment changes and why/how some organizations fail to do so and with what consequences.

Profile 1. Accounting, budgeting and management control innovations in the public sector

Research under this profile examines public sector accounting, budgeting and management control innovations from country specific as well as country comparative perspectives (e.g. regulation and practices in Norway, Russia, Ukraine), e.g. in the light of New Public Management (NPM) international reform trend. We examine how changes in the national and international accounting regulations and institutions influence accounting technical systems' evolution and the consequences this can create for accounting practice and accounting users. In particular, we study the role of cash and accrual accounting in the public sector as well as new innovative types of budgeting (performance-based budgeting, participatory budgeting). The research focus also includes studies of local innovation in management control tools as a respond to local needs for management information in public sector organizations (e.g. creative visualization models, sustainability considerations).

Profile 2. Multinational corporations and their management control in turbulent times

Research examines how big multinational corporations strive to make their management control systems more dynamic. For instance, research demonstrates that big organizations in the private sector develop a new type of management control systems without the use of rigid annual budgets (so called Beyond Budgeting movement). They also experiment with alternative type of controls to influence the behavior of employees that helps to avoid "illusion of control". This area of research also covers use of tools for long-term planning such as method of scenario planning, target costing, life-cycle costing.

Profile 3. Innovations in risk management and internal controls

Research examines the role of risk management and internal control in contemporary organizations. We examine the context of operating in international setting - when organizations operate in a context that is different from the context of their HQs (e.g. different regulatory, cultural and contextual environment). Two other important areas are dealing with cyber risks and cybersecurity as well as issues of risk management and internal control inter-organizational relations.

Profile 4. Contemporary issue of financial accounting and auditing

Research in this profile focuses on emerging issues in financial accounting and auditing. Particularly, we examine how global trends such as climate change and digitalization can re-shape financial accounting and auditing processes as well as accounting and auditing profession. We examine the nature and the role of new digital analytical tools in accounting and auditing,  as well as nature of services provided by accounting and auditing firms and relation to their customers, aspects of quality in accounting and auditing services, especially those offered by small and medium-sized accounting and auditing practices. This also includes new trends in developing social auditing. This research includes research about innovations in accounting and auditing professional education.

TEACHING

Members of the research group are responsible for regular teaching in courses covering compulsory curriculum for Bachelor degree program in business and administration at Nord University, including but not limited to financial accounting, accounting theory, auditing, management accounting, budgeting, performance management. On the master level, MACE group contribute to several management control profile courses on Bachelor and Master of Science program and we offer a number of elective courses. We are also responsible for running Bachelor program in Accounting as well as Master of Accounting and Auditing program (MRR). We offer courses on the PhD level, such as Academic Writing, Government accounting, Contemporary strands of institutional theory and its application to management and accounting, Performance management. Together with High North Center, MACE is also responsible for running Double degree Master of Science program in Public Sector Economy with focus on accounting, budgeting and finance and developing a joint PhD supervision program (cotuttele) together with Taras Shevchenko University of Kyiv (Ukraine).

PARTNERS, NETWORKS & MEMBERSHIPS

The MACE group seeks to exchange knowledge with national and international academic partners sharing similar academic interests. The research group engages researchers from other universities inside and outside Norway as a visiting professors' arrangement. These national and international academic partners are involved as co-supervisors of PhD students, as mentors for PostDocs and they also participate in the preparation of applications for external funding. Our researchers, in return, also take part in research groups at other institutions. To mention some networks:

 

EXTERNALLY FUNDED PROJECTS

MACE group has being active in attracting external funding for research and development projects. Some examples include:

  • Local government budgeting reform in Russia: implications and tensions (BUDRUS) 2013 – 2017, funded by the Research Council of Norway

  • Fiscal sustainability at the local government level (KØB), 2016 – 2020, funded by County Governor of Nordland

  • Norwegian-Ukrainian cooperation in Public Sector Economy Education: Accounting, Budgeting and Finance (NUPSEE), 2016 – 2019, funded by Eurasia Program, DIKU

 

Recently, MACE research group contributed to receiving two grants:

  • research project "Transformative Capabilities of the Accounting Profession: Study of Norwegian Small and Medium Accounting Practices (TRANSACT)". Project duration 2020 - 2024. 9,6 mill grant from the Research Council of Norway program PROFESJON.

  • Research and development project "Norway-Ukraine: Professional adaptation integration into the state system (NUPASS). Funded by Norwegian Ministry of Foreign Affairs: NOK 32,6 mill, executed in cooperation with High North Center for Business and Governance.

 



Members

​Mesfin Ghirmani Abraham
​Stipendiat
​Main
​Husanboy Ahunov
​Stipendiat
Associated
Evgenii Aleksandrov
​Postdoktor
​Main/Associated
​Daniela Argento
​Førsteamanuensis II
​Main
​Anatoli Bourmistrov
​Professor
​Main
Elena Dybtsyna
​Førsteamanuensis
Main/Associated
Brynjar Gilberg
​Universitetslektor II
​Main
​Giuseppe Grossi
​Professor
Associated
​Torstein Alfred Gustavsen
​Førstelektor
​Main
​Levi Gårseth-Nesbakk
​Professor / Prorektor
​Main
​Toomas Haldma
​Professor II
​Main
Oliver Henk
Stipendiat​​Main
Olga Iermolenko
​Førsteamanuensis
​Main
Knut-Viggo Johansen
​Universitetslektor
​Main
Børge Josefsen
Universitetslektor
​Main
​Gowindage Chamara Jayanath Kuruppu
Førsteamanuensis II
​Main
Andrey Mineev​
​Forsker m/phd
​Main
​Nadezda Nazarova
Førsteamanuensis
Main/Associated
​Børre Anton Olsen
​Amanuensis
​Main
Anders Parmann
​Universitetslektor
​Main
​Andreas Raspotnik
Forsker m/phd
​Main
​Sissel With Stephansen
Universitetslektor
​Main
Marit Lillian Sundet
​Professor
​Main
Astrid Svendgård
​Universitetslektor
​Main
​Konstantin Yurievich Timochenko
Førsteamanuensis
​Main
​Veronika Vakulenko​
Forsker m/phd
​Main


Financial Analysis, Quantitative Methods and Economics (FAME)

About the group
The participants in this group teach and conduct research on a wide range of topics. The focus is quantitative methods applied on finance and economics. The participants in this group is located in Bodø and Steinkjer. We teach various courses related to finance, economics, and statistics. In total, we have the main responsibility of 14 courses, of which three are mandatory for the degree program in business and administration at Nord University. Eight courses are for either the finance profiles at the bachelor program, or the master program. In addition, we have a couple of elective courses both at the BSc level and the MSc level.

Research
The participants in this group carry out research on a wide range of topics. For example, Svein Oskar works on topics related to econometric analysis in various economic settings, such as the impact of oil on agricultural profitability, or how time invested in studying yield returns in terms of grades. Thomas has received two grants from the Norwegian Research Council: Climate Change Modeling and Prediction of Economic Impact (7mNOK), and Machine Learning for ESG Investments (7.5mNOK). Irena's main research interest is in the area of empirical corporate finance, specializing in family firms and their governance. She has several ongoing projects, for example Nepotism in family firms? where she studies evidence from pay differentials between family and non-family employees.

Recently Published Peer Reviewed Papers
The members of the FAME research units have published several scientific papers the last few years. So far in 2020, we have published 10 scientific papers, where 4 are in level 2 journals according to the NSD.

PhD students
There are currently 8 PhD students where the main supervisor is a faculty member in the FAME research unit. The topics range from, but are not limited to, machine learning for finance, impact of climate change on economics and finance, empirical asset pricing, real estate finance.

Plans for the Future
The members of the group will continue to carry out their teaching liabilities as the courses are structured now, though with some modifications to incorporate new methods and techniques that are appropriate. For research, some of the members plan to apply for external funding for research projects for the May 6th deadline from the Norwegian Research Council.



Members

​Samer Abdulraouf Altinawi
​Stipendiat
​Associated
Yevheniia Antoniuk
​Stipendiat
​Main
​Samuel Asumadu-Sarkodie
​Stipendiat
​Main
​Morten Helbæk
​Dosent
​Main
​Muhammad Kashif
​Stipendiat
​Main
​Irena Kustec
​Forsker
​Main
​Svein Oskar Lauvsnes
​Førsteamanuensis
​Main
​Thomas Leirvik 
​Førsteamanuensis
​Main
Ugochi Okoroafor
​Stipendiat
​Main
​Phebe Asantewaa Owusu
​Stipendiat
​Main
Kseniya Pak
​Stipendiat
​Main
Hassa Pedersen​
​Førstelektor
​Associated
​Pål Andreas Pedersen​Professor
​Associated
Petter Pettersen
​Førstelektor
​Main
​Brit Torunn Rohnes
Førsteamanuensis
​Main
​Trude Storelvmo
​Professor II
​Main
Kristian Støre
​Førsteamanuensis II
​Main
​Vu Le Tran
​Stipendiat
​Main
​Menghan Yuan​
​Stipendiat
​Main



Hybrid & Smart Governance (HybridArt)

Mission

The mission will be to carry out scientific and research activities in the field of advancement and dissemination of research in the field of hybrid and governance. Our group is committed to be an outlet for rigorous conceptual and empirical works aimed at challenging and innovating the field of governance, management, and accounting in entities operating in the public sphere or public-private sphere (territorial government entities, universities, schools, hospitals as well as state-owned enterprises, hybrid organizations, public and private partnerships, non-profit organizations, NGOs, etc.). In our efforts to find scientific and practical solutions, we also cross international and interdisciplinary boundaries (accounting, management, organization, strategy, public innovation, political science, etc.). To this end, we draw on the competencies of Nord University Business School, other faculties, our governmental and corporate partners, and over several partner universities worldwide. Findings from our research is consistently integrated in our teaching and consulting activities. These are characterized by a high degree of practical relevance and immediate applicability. Depending on requirements and financial means, a variety of different forms of collaboration are possible, ranging from student projects to commissioned research and national/international funded research projects.

Our focus areas:

In our research group, we focus on the core areas of Hybrid and Smart Governance. Among other areas of activity, we are involved in the transparency of financial statements, performance measurement,  communication, and visualizations performance for the smart cities, the governance of State Owned Enterprises (SOEs), educational organizations (universities, and schools), social enterprises or non-profit organizations. The group provides support for interdisciplinary knowledge and methodological competences, which are combined specifically for individual projects. If required, we can develop and implement tailor-made tools for our clients. To achieve this, we are able to draw on a network of national and international experts.

Hybrid governance deals with the processes of making and executing decisions in the context of carrying out public sector responsibilities by both public sector, nonprofit organizations as well as for SOEs, PPPs, social enterprises and other hybrid organizations The focus is on management, control, and supervision within, and particularly between, such organizations, with public sector actors playing a major role in the management and control of such projects. In developing such management tasks for public sector organizations, public governance takes into account different requirements. Issues include, among others: strategy development and implementation, organization-specific development and implementation of strategic management tools (e.g., risk management, stakeholder involvement), board appointment and composition, ownership strategies, and the corporatization, outsourcing or privatization of public responsibilities.

Smart Governance concern the digitalization of public services of a smart government and their improvement through innovations without forgetting the democratic inclusiveness of citizens. The process of governance based on using ICT tools and the Internet to provide information and public services, on communication and collaboration between government and citizens and on the principles of good governance. Smart governance is about the use of technology and innovation for facilitating and supporting enhanced decision making and planning. It is also associated with improving the democratic processes and transforming the ways that public services are delivered.

HybrArt's activities and the link NUBS education

The activities of the research group aim to increase external research funds and also to contribute to the development of master and PhD programs at Nord University by:

  • Developing scientific publications (articles, special issues, etc.) in ABS, Scopus and ISI web of Knowledge ranked journals, as well as organization and participation in conferences, workshops and seminars, that would increase the standing of the researchers in the group and as a result the scientific standing of the faculty involved in the master and PhD programs at NUBS.

  • Strengthening international links based on joint research projects that will result in applications in collaboration with High North Center and international partners to the Research Council of Norway, Nordic funding institutions and for European union financed projects, such as Horizons 2020, TEMPUS as well as Marie Curie Action, which in turn would increase internationalisation of the two programs and the university.

  • Creating external links and network with the surrounding community and practitioners operating in  governmental and hybrid organizations and other national and international academic partners that are highly connected to the post graduate education at master and PhD programs, and through dissemination of the research results to the students thus facilitate the link between the research and education.

  • Involving students on both at master and PhD level in the various projects conducted in the research group as collaborators. This would also allow for a better integration of research and education. We will also invite students at the advanced level to seminars and conferences. Overall, an active research environment will make it easier to make the students interested in various research activities and thus facilitate the recruitment of talented students to future PhD studies.

  • Contributing in several scientific networks and research groups:

 

Financed research projects

SMARTNORTH: "Sustainable development and MAnagement by paRTicipatory governance practices in the High NORTH", Financed by Norwegian Research  Council under NORRUS Plus Programme¸ Project period: September 2018-January 2021

UArctic Thematic Network "Smart Societies in the High North", Financed by University of the Arctic, Project period: September 2018-February 2020




Members

​Mesfin Ghirmani Abraham
​Stipendiat
​Main
​Husanboy Ahunov
​Stipendiat
Associated
Evgenii Aleksandrov
​Postdoktor
​Main/Associated
​Daniela Argento
​Førsteamanuensis II
​Main
​Anatoli Bourmistrov
​Professor
​Main
Elena Dybtsyna
​Førsteamanuensis
Main/Associated
​Giuseppe Grossi
​Professor
Associated
Oliver Henk
Stipendiat​​Main
Olga Iermolenko
​Førsteamanuensis
​Main
​Gowindage Chamara Jayanath Kuruppu
Førsteamanuensis II
​Main
​Nadezda Nazarova
Førsteamanuensis
Main/Associated
Rabia Tabbassum
Stipendiat​
​Main
​Veronika Vakulenko​
Forsker m/phd
​Main

Applied economics (APEC)


About the group

The participants in APEC teach and conduct research on a wide range of topics. The main research focus is towards regulation of markets, transport economics, resource and environmental economics, health economic and efficiency analysis. The participants in the group are located in Bodø, Mo i Rana, Stjørdal and Steinkjer. We teach various courses related to economics, corporate management, transport economy, logistics and health economy. APEC has the main responsibility of 11 courses, of which six are mandatory for the degree program in business and administration at Nord University.


Research strategy

The group has followed a strategy with the overall goal of producing research leading to peer-reviewed scientific publications. These results are achieved by following two separate tracks. The first track consists of research based on ideas from members of the group and funded by internal resources. The second track involves tendered external projects being successfully acquired. This means that research problems of current interest are being addressed, and data  is gathered  keeping future publications in mind. An extensive number of non-academic partners, both public bodies (i.e. The Ministry of Transport and Communication) and private bodies (i.e. airport developers and aquaculture organizations), have funded these research projects during the last 10-15 years. 

In selected projects, the next stage is development of theory and the methodological framework to prepare for academic publications. Then, the group encourages dissemination of the results by producing popular science articles (e.g. for Samferdsel and Norsk Sjømat), features articles in newspapers (Aftenposten, Dagens Næringsliv and Avisa Nordland) and gives interviews to the radio and TV (mainly NRK). Finally, the results are used as cases in courses taught at the bachelor and master level.

 

Recently published peer reviewed articles

Bardal, K. G. and Mathisen, T. A. (2019). Modelling the costs of unexpected traffic flow

disruptions. Journal of Transport, Economics and Policy. 53 (4), pp. 299-322.

Bergland ,H., Pedersen, P. A. and Wyller, J.  (2019). Accumulated Marine Pollution and Fishery Dynamics. Ecological Complexity, Vol. 38, April 2019, pp. 56-74.

Bergland, H. and Pedersen, P. A. (2019). Efficiency and Traffic Safety with Pay for Performance in Road Transportation. Transportation Research Part B: Methodological, Vol. 130, Dec., pp. 21-35.

Grepperud, S. and Pedersen, P. A. (2020). Positioning and negotiations: The case of pharmaceutical pricing. European Journal of Political Economy, Vol. 62, March, pp. 1-13.

Hanssen, T-E. S., Jørgensen, F. and Larsen, B. (2019): Determinants affecting ferry users waiting time at ferry terminals. Transportation.

Hanssen, T-E. S. and Mathisen, T. A. (2018) Exploring the attractiveness of a Norwegian

rural higher education institution using importance – performance analysis. Scandinavian

Journal of Educational Research. 62 (1), pp. 68–87.

Jørgensen, F. and Hanssen, T-E. S. (2019): Implications for traffic safety from car drivers' secondary task engagement – an economist´s view. Economics of Transportation. Vol 20, pp. 1-8.

Jørgensen, F. and Solvoll, G. (2018). Determining optimal frequency at ferry crossings. Transport Policy, 63, pp. 200 – 208.

Solvoll, G. and Hanssen, T.-E. S. (2018). Importance of aviation in higher education.  Journal of Air Transport Management, 72, pp 47-55.

PhD students

There are currently 4 PhD students where the main supervisor is a faculty member in APEC. The topics range from problems with the implementation of electric vehicles, effects of the research funding arrangement on innovations in enterprises, development and capacity building for the Northern Sea Route and the global impact on health from the economic development.



Members

​Samer Abdulraouf Altinawi​Stipendiat
​Main
​Thor-Erik Sandberg Hanssen
​Førsteamanuensis
​Main
Saiful Hasan
​Stipendiat
​Main
​Finn Jørgensen
​Professor
​Main
​Alina Kovalenko
​Stipendiat
​Main
Terje Andreas Mathisen
​Professor
​Main
Birgitte Hovdan Molden
​Stipendiat
​Main
​Oleg Nenadic
​Førsteamanuensis
​Main
Kjell-Arne Odden
​Universitetslektor
​Main
​Børre Anton Olsen
​Amanuensis
​Associated
Phebe Asantewaa
​Owusu
​Associated
Hassa Pedersen
​Professor
​Main
​Pål Andreas Pedersen
​Professor
​Main
​Gisle Solvoll​​Professor
​Main

  ​

Teaching

The Division of Economic Analysis and Accounting is responsible for teaching and mentoring in all of Nord University Business Schools educational programs at the bachelor, master and PhD levels. The teaching and supervision are provided in subjects such as business analysis, financial and investment analysis, accounting and auditing, logistics and transport economics, health economics, legal subjects, mathematical and statistical analysis, and social economy.




 Division leader