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.

Head of division: Pål Andreas Pedersen

Related studies

Bachelor in Business Administration
Business (Master of Science - 2 years)
Master in Accounting and Auditing
Business (Master of Science - 5 years)

Research groups

  • About the group  

    Management and Accounting in Changing Environments (MACE) research group has an ambition to be an internationally leading research environment that conducts research, teaching and dissemination in order to produce knowledge that improves our understanding of how the design and use of accounting and management control systems can help organizations to adapt to rapidly changing organizational environments.

    Our research aims at helping different stakeholders to find theory informed practical solutions to problems of operating and to be successful in turbulent business and regulatory environments. We seek different forms of collaboration with stakeholders ranging from students’ projects, action-oriented research and nationally/ internationally funded research and development projects.

    We aim to achieve this by developing scientific publications, strengthening international links based on joint research projects, creating external links and network with the surrounding community and practitioners. The strategy is to publish research results in relevant highly ranked academic journals in the field of accounting and management control.  We want to develop new competences by attracting master students, PhD students and Postdocs as well as contributing in national/international scientific networks and research groups.

    Our research approach is primarily based on the interpretative research paradigm and use of case studies where cooperation with non-academic partners from practice is an essential part of data collection strategy. Whenever it is possible, we would also like to be engaged in action research. Equally important, findings from our research should be consistently integrated in our teaching activities and dissemination activities to students and practitioners.

    The research group is one of the research pillars at the Nord University Business School (HHN). We seek impact of our research activities on improving abilities of organizations, though successful adaptation and strategic change, to achieve long-term sustainable value creation. Nord University's (NU) strategy is to promote research in the areas of 1) blue and green growth, 2) development of the welfare society, 3) sustainable innovation/entrepreneurship for industrial development and 4) societal security. In line with these strategies, the activities of the research group contributes to the above- mentioned areas by making research on innovations in accounting and management control process in general. We also contribute to this strategy by making research that strengthen abilities and capacities of especially public sector organizations to improve the efficiency and effectiveness of welfare production, including questions of improved security and preparedness against new potential types of societal risks.

    MACE research group was evaluated as “very good” (4 out of possible 5) by the Research Council’s of Norway in 2018 (Evaluation of the Social Sciences in Norway (SAMEVAL), Panel 6 . Economic-Administrative research – see report here https://www.forskningsradet.no/siteassets/publikasjoner/1254035786872.pdf, pages 111-113).   

    MACE research group was also awarded the Research and Innovation Prize 2020 from Nord University.

    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, development of scenarios, 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) and New Public Governance (NPG) international reform trends. 

    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, resource allocation models).

    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, including the role of sustainability accounting, reporting and auditing. 

    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's degree programme in business and administration at Nord University, including but not limited to financial accounting, accounting theory, auditing, management accounting, budgeting, performance management. strategic management control. 

    On the master level, MACE group contributes to several management control profile courses on Bachelor and Master of Science programme and we offer a number of elective courses. We are also responsible for running the Master of Accounting and Auditing programme (MRR). 

    We offer courses on the PhD level, such as Introductory and Advanced Academic Writing, Government Accounting, Contemporary strands of institutional theory and its application to management and accounting, Performance management. Together with the High North Center for Business and Governance, MACE is also responsible for running Double degree Master of Science programme in Public Sector Economy with focus on accounting, budgeting and finance and a joint PhD supervision programme (cotuttele) together with Taras Shevchenko University of Kyiv (Ukraine) as well as a join PhD program.

    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:

    Recently, MACE research group contributed to receiving following grants:

  • 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 programme in business and administration at Nord University. Eight courses are for either the finance profiles at the bachelor's programme, or the master's programme. 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.

  • 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 programmes 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 programmes 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 programmes 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 programmes, 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

  • 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 programme 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.