Work ability of employees in changing social services and health care organizations in Finland

Objectives: In this study, we examined the connection between organizational changes and employees own evaluations of their work ability. Materials and Methods: In early 2010, we asked employees (n = 2429) working in the Finnish social services and health care industry to identify all the organizational changes that had occurred at their workplaces over the previous two years, and to evaluate their own work ability and whether different statements related to the elements of work ability were true or false at the time of the survey. For our method of analysis, we used logistical regression analysis. Results: In models adjusted for gender, age, marital status, professional education and managerial position, the respondents who had encountered organizational changes were at a higher risk of feeling that their work ability had decreased (OR = 1.49) than the respondents whose workplaces had not been affected by changes. Those respondents who had encountered organizational changes were also at a higher risk of feeling that several elements related to work ability had deteriorated. The risk of having decreased self-evaluated work ability was in turn higher among the respondents who stated they could not understand the changes than among those respondents who understood the changes (OR = 1.99). This was also the case among respondents who felt that their opportunities to be involved in the changes had been poor in comparison to those who felt that they had had good opportunities to be involved in the process (OR = 2.16). Conclusions: Our findings suggest that the organizational changes in social and health care may entail, especially when poorly executed, costs to which little attention has been paid until now. When implementing organizational changes, it is vital to ensure that the employees understand why the changes are being made, and that they are given the opportunity to take part in the implementation of these changes

Lessons from Financial Liberalisation in Scandinavia

The causes and consequences of the financial crises in the Nordic countries in the early 1990s are examined and lessons from this episode are extracted. The focus is on the boom–bust episode in Finland, Norway and Sweden as these three economies went into a deep recession. The lessons from the Scandinavian experience are organised under three headings: (i) how to liberalise without causing a boom–bust cycle, (ii) how to deal with a financial crisis, and (iii) the long-run effects of financial integration on stabilisation policies, growth and the distribution of income and wealth. Comparative Economic Studies (2008) 50, 564–598. doi:10.1057/ces.2008.34

The Determinants of Stock Option Compensation: Evidence from Finland

A new, long, and rich panel data set consisting of all Finnish publicly traded firms is used to study how firm characteristics and stock market developments influence the adoption and targeting of stock option compensation. Stock option adoption is found to be a procyclical phenomenon. Findings from firm-level econometric analysis often corroborate those based on U.S. data, but important differences also emerge. Findings include: (i) firms with higher market value per employee are more likely to use stock option compensation; (ii) share returns from the past year affect the adoption of targeted stock options, but not broad-based plans; (iii) our results are consistent with the hypothesis that selective and broad-based plans arise as solutions to differing monitoring difficulties. Broad-based schemes are observed when production is human capital-intensive and employee performance is hard to monitor, while selective schemes are adopted when ownership is dispersed and therefore owners may have weak incentives to monitor management