Markku Penttinen

Professor Emeritus of Accounting and Finance
Faculty of Education and Business Studies
Department of Business and Economic Studies

Dr. Bus. Adm. and Dr. Agr. & For., Professor Emeritus of Accounting and Finance, Business Administration

Deputy chairmanship of Managerial, social and environmental accounting group of International Union of Forest Research Organizations.

Current research

  1. Financial (external) accounting: The development and application of the new IFRS (International Financial Reporting Standards) accounting of the EU (European Union) for forestry and forest industries
  2. Management (internal) accounting:  Success and failure factors including the profitability, liquidity and solvency of small and medium-sized enterprises (SMEs) with help of closing of the books and industry specific reports. Methods of ratio analysis including the development of most relevant ratios and investment analyses are applied. The study benefits even from statistical methods in order to find success and failure factors, predictors and invariances.
  3. Interview studies: Analysis of critical success and failure factors, investments and business models etc. of SMEs based on interviews of the entrepreneurs.
  4. Investment under uncertainty: Analysis of investments applies modern accounting and financing methods in order to evaluate investments and to find the optimal investment behaviour as well as optimal investment levels/alternatives with help of option theory.

Financing: The competitiveness of various asset classes and assets, investment analysis of alternative asset classes and assets applying methods of financing such as Capital Asset Pricing Model (CAPM), portfolio management, efficient frontier and optimisation.

 

Latest publications

Penttinen, M., Rummukainen, A. & Mikkola, J. (2011). Profitablity, liquidity and solvency of wood harvesting contractors in Finland. Small-scale Forest Economics, Management and Policy, 10 (2), 211-229. 10.1007/s11842-010-9143-x [More information]
Leppänen, J., Penttinen, M., Uotila, E. & Viitala, E. (2017). Return on wood production by tree species. IUFRO 125th Anniversary Congress 2017 : Book of abstracts. Baden-Württemberg: Forstliche Versuchs- und Forshungsanstalt (FVA). S. 81-. Link [More information]
Penttinen, M. & Sekot, W. (2016). The International Financial Repoerting Standards (IFRS) as implemented into the forestry accounting. Advances and Challenges in Managerial Economics and Accounting. Vienna. S. 91-92. Link [More information]
Penttinen, M. & Sekot, W. (2016). The International Financial Reporting Standards (IFRS) as implemented into the forestry accounting. Advances and Challenges in Managerial Economics and Accounting : Proceedings. Wien: International Union of Forest Research Organizations. S. 91-. Link [More information]
Penttinen, M., Mikkola, J. & Rummukainen, A. (2011). Wood-harvesting enterprise financing and investment. Uppsala: Departmnet of forest products, Sveriges lantbruksuniversitet (SLU), Institutionen för skogens produkter. 81 s. Link [More information]
Published by: Camilla Haglund Page responsible: Svante Brunåker Updated: 2016-12-21
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