In 2022, Aalto University School of Business established a professorship in ownership to support research and education on the topic in Finland. This unique professorship integrates ownership as a key part of academic research and teaching, strengthens Finnish ownership competence, and produces high-quality research to inform public discussion and decision-making.
Saastamoinen Foundation is one of the founding donors of the professorship. The donors include a wide range of companies, private individuals, and foundations.
Saastamoinen Foundation encourages creativity as a way to discover new solutions to societal challenges. The professorship in ownership supports research and teaching that strengthen Finnish ownership expertise, long-term economic thinking, and the capacity for renewal. The ability to renew requires courage, which in turn goes hand in hand with strong ownership competence.
Research Increases Understanding of Ownership as a Driver of the Economy and Society
Ownership is exceptionally common in the Nordic countries: in Finland, nearly half of all households own shares or mutual funds. Ownership and the financial literacy connected to it play a significant role in the national economy, as household savings finance corporate investments. Wealth accumulation, in turn, increases the capacity to take risks, which is essential for building high-risk innovations. Well-functioning capital markets also attract international investors.
The aim of the professorship in ownership is to increase understanding of ownership as a driving force of the economy and society. The professorship focuses, among other things, on how ownership affects corporate decision-making, responsibility, renewal, and long-term value creation.
In 2022, Professor Samuli Knüpfer became the world’s first Professor of Ownership. His research explores, among other topics, the owners of unlisted companies, the founders of growth firms, and the investment behaviour of households.
“Corporate ownership is often not very visible and tends to attract too little attention. Yet, in the end, it is the owners who determine what happens in companies. With research tools, we can shed new light on ownership and its effects. This is especially true in Finland, where exceptionally detailed data on company owners is available. There seems to be enormous demand for research-based knowledge about ownership. It has been a great pleasure to respond to this challenge,” says Knüpfer.
Ownership Competence Strengthens the Courage to Renew
Ownership research is still a relatively young academic field in Finland, and the professorship marks a significant step in strengthening it. Funded through donations, the professorship enables long-term research and teaching that serves students, the business community, and policymakers alike.
The research also provides decision-makers with information that helps identify what kinds of competencies, structures, and incentives are needed for ownership to support sustainable economic growth and business competitiveness. The professorship exemplifies how companies and organizations can collaborate with universities to build bridges between research and practice. Strong ownership competence goes hand in hand with renewal, as courage is grounded in understanding ownership.
Skilled ownership has a major impact on business competitiveness and thus Finland’s overall competitiveness and economic growth. Renewal requires both expertise and courage from owners. Sustainable economic growth in Finland depends on investment, openness to renewal, and long-term commitment.
“Saastamoinen Foundation wants to support research that strengthens Finnish ownership competence and the courage to renew. Skilled ownership is a key factor in business competitiveness and, through that, in Finland’s economic growth. By supporting this professorship, we can make a contribution to nurturing future generations of skilled and forward-thinking owners in Finland, people who have the courage to invest and drive the growth of their businesses,” says Petteri Karttunen, Chair of the Foundation’s Board and Chair of the Foundation’s Investment Committee.
Saastamoinen Foundation also promotes discussion and understanding of good ownership in other ways. For example, in collaboration with Aalto EE, it organizes the Saastamoinen Foundation Keynote in Business lecture series, which explores ownership and entrepreneurship from different perspectives and presents models and solutions from other Nordic countries to Finland.
Read more about the professorship in ownership here.
