Aalto University School of Business
Professor, Accounting



Kauniaisten lukio, Kauniainen, Matriculation examination 1984


Helsinki School of Economics, M.Sc (Econ.) Accounting and Finance, 1990

Helsinki School of Economics, Lic.Sc (Econ.) Accounting and Finance, 1994

Helsinki School of Economics, D.Sc (Econ.) Accounting and Finance, 1997


Second Lieutenant, Finnish Army (Parolannummi), 1985

Academic Employment Record

Helsinki School of Economics / Aalto University School of Economics

Department of Accounting and Finance

Assistant (acting) 1990-1992

Institute for Basic Research

Researcher 1992-1995

Department of Accounting and Finance

Assistant Professor 1995-1998

Associate Professor (acting) 1999-2000

Professor (acting) 2001-2002

Professor (5 year term) 2002-2005

Professor 2005 ->

Head of accounting faculty 2011 ->

Head of Department 2013 ->

University of Technology, Sydney

Visiting Professor 1.8.2003-31.7.2005

University of Canterbury, Christchurch

Erskine Fellowship 6.7.-6.8.2006


Publications in refereed journals:

“Management control as a package—The need for international research”, Malmi T., Journal of Management Control Vol 23, 229–231, 2013.

“Reflections on paradigms in action in accounting research”, Malmi, T, Management Accounting Research, Vol 21, 2, 121-123, 2010.

“In search of Management Accounting Theory”, Malmi,T. & Granlund, M., European Accounting Review, Vol 18, No. 3, 597-620, 2009

“Agreeing on Problems, Where are the Solutions? A Reply to Quattrone", Malmi,T. & Granlund, M., European Accounting Review, Vol 18, No. 3, 631-639, 2009.

An exploratory study of operational reasons to budget, Sivabalan, P., Booth, P., Malmi, T., Brown, D., Accounting & Finance, Vol 49, No. 4, 849-871, 2009.

Management Control Systems as a Package - Challenges, Opprtunities and Research Directions, Malmi, T. & Brown, D., Management Accounting Research, Vol 19(4), 287-301, 2008.

Balanced Scorecard Design and Performance Impacts: Some Australian Evidence. Bedford, D., Brown, D. & Malmi, T., Journal of Applied Management Accounting Research, Vol 6., No 2, 17-36, 2008.

“Strategic human resource management and knowledge workers: a case study of professional service firms”, Teo S.T.T., Lakhani B., Brown D. & Malmi T., Management Research News,Vol.31, 9, 683-696, 2008.

“The future of interpretive accounting research—a polyphonic debate”, Ahrens, T., Becker, A., Burns, J., Chapman, C.S., Granlund, M., Habersam, M., Hansen, A., Khalifa, R., Malmi, T., Mennicken, A., Mikes, A., Panozzo, F., Piber, M., Quattrone, P., Scheytt, T., Critical Perspectives on Accounting, Vol 19, 6, 840-866, 2008.

"Vaihtoehtoisten menetelmien kustannusvertailu laktoosin imeytymishäiriön laboratoriodiagnostiikassa" Piironen. A., Järvelä I & Malmi, T, Finnish Medical Journal, No 20-21, 2007.

“A Collaborative approach for managing project cost of poor quality”, Malmi, T., Jarvinen, P & Lillrank, P., European Accounting Review, 13, 293-317, 2004.

“Value Based Management practices––some evidence from the field”, Malmi, T. & Ikäheimo, S., Management Accounting Research, Vol. 14, No. 3, 235-254, 2003.

“Moderate impact of ERPS on management accounting: a lag or permanent outcome?” Granlund, M. & Malmi, T., Management Accounting Research, Vol. 13, No. 3, 299-321, 2002.

“The practice of management accounting in Finland - A change?”, Malmi, T., Seppälä, T. & Rantanen, M. Finnish Journal of Business Economics, Vol. 50, No 4., 480-501, 2001.

”Balanced Scorecards in Finnish Companies: A Research Note”, Management Accounting Research, Vol. 12, No.2, 207-220, 2001.

“Activity-based costing diffusion across organisations: an exploratory empirical analysis of Finnish Firms”, Accounting, Organization and Society, 24, 649-672, 1999.

“Towards Explaining ABC Failure: Accounting and Control in a Decentralised Organisation”, Management Accounting Research, Vol. 8, No. 4, 459-480, 1997.

“New Directions in Management Accounting Research”, Atkinson, A., Balakrishnan, R., Booth, P., Cote, J., Groot, T., Malmi, T., Roberts, H., Uliana, E. & Wu, A., Journal of Management Accounting Research, Vol.9, 79-108, 1997.

“Activity-Based Costing in Finnish Metal and Engineering Industries”, Finnish Journal of Business Economics, 3/1996.

Other published research:

An integrated package of environmental management control systems, Baker, M., Brown, D. & Malmi, T., Best practice in Management Accounting, edited by G. Gregoriou & N. Finch, Palmgrave, 2011.

“Re-examining the cause-and-effect principle of the Balanced Scorecard”, together with Per Nikolaj Bukh, in “Northern Lights in Accounting”, edited by S.Jonnsson & J. Mouritsen, 2005.

”Adoption and Implementation of Activity-Based Costing: Practice, Problems and Motives”, HSE publications, A-128, 1997. (Dissertation)

“Drivers of Management Accounting in Finland”, Virtanen, K., Malmi, T., Vaivio, J. & Kasanen, E., in Management Accounting: European Perspectives, edited by A. Bhimani, Oxford University Press, 1996.

"Kustannuslaskentajärjestelmän rakenne ja muutos - Case toimintolaskenta" (Structure and Change of Cost Accounting System – Case Activity Based Costing), HSE publications, B-137, 1994. (Licentiate Thesis)

Working papers:

Modes of Coupling in Management Control Systems, Brown, D., Malmi, T. & Booth, P., Submitted to Accounting, Organization & Society, revision (3rd round) in progress.

Making sense of a new management accounting innovation: Putting Beyond Budgeting into Practice, Östergren, K., Stensaker, I & Malmi, T., paper presented at the EIASM manufacturing accounting conference in Ghent, 2010.

Configurations of Control: An Exploratory Analysis, Bedford, D. & Malmi, T., paper presented at the EIASM Performance Measurement workshop in Nice, 2009, submitted initially to AOS, revised twice and accepted for the third round, withdrawn from the process, now submitted to CAR.

Influencing strategy formation with knowledge-integrating corporate level management control systems, Kolehmainen, K & Malmi, T, paper to be presented at International Management Control Research Conference in London, September 2010.

“An empirical study on customer profitability accounting, customer relationship management and business unit economic performance”, Malmi, T., Raulas, M., Gudergan, S. and Sehm, J., paper presented at the European Accounting Association congress in Prague, 2004, at the conference on new directions on Management Accounting Research at Brussels, December 2004, and research seminars at UTS, Macquarie University, Monash University and UNSW in 2004.

"The Structural Differences Between Traditional and Activity-Based Costing", Malmi, T & Kasanen, E., paper presented at the European Accounting Association congress in Venice, 1994.

"A Field Study on Factors Influencing Cost Accounting System Design - Case Activity Based Costing", HSE working paper series, W-5, 1992.

“Activity-Based Costing and Traditional Cost Accounting: Illustration and Comparison", HSE working paper series, F-283, 1991.

Other research related publications:

Book review: “Key Concepts in Ethnography” by Karen O’Reilly, European Accounting Review, 417-418, 2011.

Malmi, T. & Granlund, M. (2007) How to proceed in building management accounting theory? In M. Granlund (ed.), Total Quality in Academic Accounting - Essays in honour of Kari Lukka. Publications of the Turku School of Economics, Series C-3:2007.

BSC survey report 2006. David Brown, Teemu Malmi, David Bedford, Zoltan Matolcsy & Prabhu Sivabalan, School of Accounting, University of Technology Sydney, 15 pp, 2006.

Kohti käytännöllisiä teorioita liiketaloustieteissä –toiveajatteluako?, Finnish Journal of Business Economics, 4/2005. Received the best discussion paper award in 2005.

“Väitöskirjojen tiivistelmät 1996-2001”, Tuunainen, V. & Malmi, T. (eds.), Helsingin kauppakorkeakoulun 12. promootion juhlajulkaisu, HeSE Print 2001. (Abstracts of Dissertations published in the HSE between 1996-2001. Publication in honour of HSE 12. promotion)


Yrityksen Laskentatoimi (Accounting in Business Organizations, a book used at Aalto in the first accountig course), Ikäheimo, Malmi & Walden, WSOY, 2012.

Toimitusjohtajan käsikirja (The CEO Handbook), accounting and finance part of the book, Reinikainen, M., Malmi, T. & Ikonen, T., Tietosanoma, 2005.

Tietotekniikan mahdollisuudet taloushallinnon kehittämisessä (The opportunities of applying Information Technology to enhance accounting function’s business support), Granlund, M. & Malmi,T., WSOY (Ekonomia-sarja), Jyväskylä, 2004.

BSC – Rakenna ja sovella tehokkaasti (BSC – design and apply effectively), Malmi, T., Peltola, J. and Toivanen, J., Kauppakaari, 2002, 2nd edition 2006.

Laatukustannuslaskenta: käyttötarkoitus ja menetelmät, käytännön työkirja yrityskäyttöön ja opiskeluun (Calculating cost of poor quality: applications and method – practical workbook for corporations and students), Järvinen, P., Lemetti, P., Virtanen, T. sekä Lillrank, P.& Malmi, T., TAI tutkimuslaitos, Espoo 2001

Research management and supervision

Leader of a major international research project on control system configurations involving 15 Universities from 11 countries.

Cost of poor quality program 1998-2001, joint project together with Helsinki University of Technology (HUT) and HSE, sponsored by TEKES. Co-leader together with prof. Paul Lillrank. In addition to leaders project team consisted project manager and two to three junior researchers.

Supervision of completed doctoral studies of Tommi Kasurinen, Jari Huikku and Katja Kolehmainen at Aalto School of Business and David Bedford, David Brown, Francesco Giacobbe, Prabhu Sivabalan at UTS.

Supervision of ongoing doctoral studies of Mikko Sandelin, Tapani Rahko, and Joonas Kiurusalmi at Aalto.

Examiner of Ph.D. thesis / tribunal member at CBS, ESADE, HUT, Oulu, Turku, University of Queensland and UTS.

Evaluator for appointments to professorships in Finland (Joensuu and Turku), Sweden (Lund) and Australia (UTS).

Masters thesis supervision at HSE / Aalto since 1997.

Honours supervision at UTS 2004.

Thesis supervision at EMBA program, HUT.

Other research related activities

Editor of the Finnish Journal of Business Economics, May 2007 – September 2012.

Member of the Editorial Board of Management Accounting Research, Abacus, European Accounting Review and Journal of Management Control.

Referee for Abacus, Accounting & Finance, British Accounting Review, European Accounting Review, Financial Accountability and Management, International Journal of Accounting, Journal of Forest Economy, Management Accounting Research, Qualitative Research in Accounting and Management, Spanish Accounting Review and Strategic Management Journal.

Guest Editor for Special Issues at Management Accounting Research and Journal of Family Business Strategy (forthcoming in 2013).

Member of the Scientific Committee of EAA 2006 conference in Dublin and 2007 in Lisbon.

Member of The Research Committee of the Management Accounting Section of American Accounting Association (AAA) in 1994.

Organizer of the 11th Manufacturing Accounting Research conference in Helsinki, June 2012.

Invited plenary speaker in a number of academic conferences, most recently Manufacturing Accounting Research conference in Trento, Italy, 2007, Nordic Management Conference in Bergen, Norway, 2007, European Accounting Association Conference in Tampere, Finland, 2009, Management Control workshop at WHU, Germany 2011, “New Directions in Management Accounting Research” conference in Brussels, December 2012, “Accounting Research: Diversity within Unity” in Frankfurt, Germany, 2013. Invited to ERMAC Conference in Vienna, June, 2013.


Teaching experience in universities Responsible for Honours program at the School of Accounting at UTS. Teaching the course: Contemporary Issues in Management Accounting Research.

Responsible for master’s level courses “Management Accounting”, “Activity Based Costing and Integrated Measurement Systems” and “Project Management” (together with three others from other departments) at HSE.

Management Accounting and Control at HSE MBA program

Management Accounting and Control at HSEEE EMBA program in Singapore and Helsinki.

Management Accounting and Control at EMBA at UTS

One of the four lecturers in Doctoral course “Overview of Financial and Management Accounting Research"

Doctoral teaching in Scandinavian joint program organized by NHH, Bergen.

Accounting lectures at University of Canterbury, New Zealand.

Visiting lecture in Sydney University Accounting Honours program.

Management accounting section of the Business Studies program for Helsinki University students organized by HSE.

Executive teaching experience

Executive teaching experience in management accounting (especially cost and profitability analysis), management control and strategic planning and strategy execution.

Executive teaching in the following open programs:

HSE Executive Education / AEE: EMBA, MBA, JOKO, TUJO, TEJOKO and Management Accounting and Business Development

Helsinki University of Technology: EMBA and Master of Quality

Efektor Oy: TIR, Controller Excellence, BSC

Rastor Oy (BSC, Business Controller, Pricing in Metal Industries)

IIR Finland Oy (e.g Controller Forum)

Laatukeskus (BSC, Advanced Quality Management)

LIFIM, IBC Euroforum, HAUS, Helsinki University Vantaa Unit, Mercuria Business School, Management Events, TBC Leader

In-house teaching experience from the following industries:

Telecom (e.g. Radiolinja, Tellabs, Elisa, Comptel), Computers and Software (e.g. TietoEnator, Digital, QPR), Forest (UPM-Kymmene, Metsä Group), Construction (Skanska, YIT, Lemminkäinen), Energy (Vattenfal, TVO), Manufacturing (ABB, Alteams, Componenta, Kemira, Metso, SKF, VTI) Media (Sanoma WSOY, EDITA), Retail (S-Group, Rautakirja, BAT Nordic, Stockmann), Services (Pöyry, CRAMO), Transportation and logistics (Finnair, Itella, VR) Finance (OP-Pohjola, Tapiola), Healthcare and public sector (Jorvi Hospital, KELA, KSSHP, HUS).

In addition several management briefings in large and medium size organizations in various fields.

Teaching Activity Based Costing at several KEKO-courses during 1996 and 1997. Roughly 40 small and medium sized organizations involved.

Management of executive teaching programs Setting up, development and co-ordination of “Management Accounting and Business Development” program offered by JOKO Executive Education OY since 1997.

Co-ordination of Management Accounting course offered by MJK-Institute 1997-2002.

Publications related to teaching Modules 3 and 5 for CPA Australia course material on Strategic Management Accounting, together with D.Brown, 2005.

Theory/method of Balanced Scorecard for e-learning environment called “BSC Virtuoso”, offered by MDC Efector Oy. 30 pages, together with J. Vaivio, 2001.

Liiketaloustieteen perusjakso (Basics of Business Studies)– Ainamo. A, Laurila, J., Kykkänen, K., Leppiniemi, J., Malmi, T., Raulas, M., Vaara, E. & Fagerström M. (ed.), HSE publications O-328.

Case “Telecom Finland” together with Rami Sirkiä, 1998.

Case “Interbank” together with Teemu Väänänen, 1995.

Translation of “Common Cents ” by Peter B.B.Turney, to Finnish together with Maija Lehmusvirta (“Toimintolaskenta”, Business Books).

Pedagogical training

HUT, 3 days, by Marina Motaleff.

HSE, 3 days, by Prof. Priscilla Rogers, University of Michigan.

Award “Thirst for knowledge” (“Tiedon Jano”) award by JOKO Executive Education Oy in 2001.

Business Experience

Chairman of the Board, Aalto Executive Education, 1.6.2009 -

Chairman of the Board, Sannäs Kartano Oy, 01/2011 -

Member of the Board, Parpa Oy, 1.1.2011 -

Member of the Board, Healthy Life Devices Oy, 25.3.2010 –26.1.2012

Chairman of the Board, HLD Oy 27.1.2012 – 26.4.2012

Member of the Board (johtokunta), HUSLAB, 17.12.2007 – 30.3.2009

Member of the Board (vice chairman), Kasola Plc, 8.10.2007- 14.1.2008 (Case: Nurminen Logistics listed to OMX)

Member of the Board, QPR Software Plc, 2003-2007.

Chairman of the Board, QPR Software Plc, 7.1.2003-21.7.2003.

Member of the Board, QPR Cost Control BV (The Netherlands), 2001-2004 and 2006 - 2007

Member of the Board, WaveQ Systems Oy (Finland), 2000-2006.

Senior consultant, QPR Software Plc, 2000-2003.

Head of consulting, QPR Finland Oy, 1998-2000.

Oy Quality Production & Research Ltd Advisory Board member 1996-1997.

Duties in QPR have included product development of ABC and BSC software, supporting CEO, sales support, and internal education, in addition to customer projects.

Co-operation agreements with Arthur Andersen Business Consulting Ltd.(1996-2002), Nordic Advisor Group (2000-2001) and August Associates (since 2001).

Own company – MAS Management Accounting Services Oy – since 1995.

Partner and member of the board, MINT Consulting Oy, 2003-2012.

Consulting concerning cost and profitability accounting, process management, performance management, management control and strategy in the following organizations (among others): Avena, Asiakastieto, BAT Nordic, Benefon, Digital, Edita, Eksote, Elcoteq, Elisa Communications, Fazer, Fennia, Finnair, Finnvera, Forssan kirjapaino, Fortek, Helsingin kaupunki, H+H, Holdem Capital, HSE, HUS, Iittala, Ilmarinen, Itella, IVO, Johnson & Johnson Asia Pacific, Keski-Suomen Sairaanhoitopiiri, Leaf, Lindström, Maan Auto, Martela, OP-Ryhmä, Orion, Orton, Outokumpu, Perlos, Rahoitustarkastus, Rautaruukki, Saarioinen, SanomaWSOY, Saunatec, SITRA, SOK, Sonera, StoraEnso, Valio, Valtra, Espoon kaupunki, Helsingin kaupunki, Vantaan kaupunki, Virtain kunta, Äänekosken kaupunki.

These companies operate in the following industries: Agricultural, Computers, Electrical, Energy, Finance, Food processing, Furniture, Health Care, Media, Metal and Engineering, Paper and Pulp, Pharmaceuticals, Rental Services, Retail, Telecom and Transportation/logistics.

Tutoring ExecutiveMBA strategy projects at Aalto Executive Education:

E.g. Nokia, Nordea, St1, Dun & Bradstreet, Kemira, Tamro, Tieto, Docrates, YIT

Statements and special studies:

Number of statements to Valio in 2012 regarding pricing of dairy products.

Husin omistajaohjauksen, ohjausrakenteiden, rahoituksen ja laskutusperiaatteiden selkiinnyttäminen, together with Ilkka Kauppinen, 2012.

Lausunto tuottokoron käytöstä Asfalttikartellia koskevassa oikeudenkäynnissä 2012, together with Matti Suominen & Elias Rantapuska

Lausunto: Raakamaidon taloudellinen luonne Valion liiketoiminnassa, 2011

Lausunnot Itella Oyj:n yleispalvelutuotteiden hinnoittelun perusteena olevasta kustannuslaskennasta, 2008 and 2010.

HUS:n laskennan, raportoinnin ja ohjauksen kehittäminen, 2006.

Sähköliiketoimintojen eriyttämisvaatimukset (Cost impact of proposed legislation on energy businesses), Kykkänen, T, Malmi, T. & Kiuru, P., LTT-Tutkimus Oy series, 2002.

Selvitys sähköliiketoimintojen eriyttämisestä (About disaggregating energy businesses), Kykkänen, T., Leppiniemi, J., Malmi, T. & Walden, R., LTT-Tutkimus Oy series, 2000.

Costing and pricing of fixed network cables, FINNET and Elisa Communications Oyj, 1999 and 2000.

“The status of accounting in Ministry of Labour and few suggestions for development”, together with Prof. E. Pitkänen, 1996.

Early business experience:

Team member in the project group responsible for setting up an ABC system to SISU-AUTO axle-factory, 1991.

Abloy Security, Control system development project, 01.06.-31.12.1989.

EuroAmerica (Ogilvy Group, New York), language services, 15.9.-15.12.1988.

Anchor Eskilstuna AB (Sweden), financial and managerial accounting, 23.05.-12.08.1988.

Kansallis-Osake-Pankki, clerk, 01.06.-31.08.1987.

University Administration and Development

Head of Accounting Department and a member of top management team at Aalto School of Business 2013 ->

Head of Accounting Faculty at Aalto, 2011-2012.

Member of the tenure track committee of Aalto School of Business 2011 ->

Mamber of the council of Kauppakorkeakoulun tukisäätiö, 2012 ->

Participant at “Aalto Strategic Leader” leadership program in 2012

Member of Alumni Board, 2008 - 2011

Member of the HSE council (valtuusto) 1995-1998.

Vice chairman of the HSE council 1997-1998.

Member of the board at HSE 1995-2003.

Member of the board at Researchers union at HSE 1995-2000.

Member of the transformation team at Aalto University formation.

Member of the support group at development project Kolumbus at HSE.

Cost analysis of certain functions and activities at HSE.

Setting up a co-operation between Nokia Mobile Phones (Global Finance & Control) and the Department of Accounting and Finance, HSE.

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