15.06.2012: Disseration: We make billionaires

Over the last few decades the number of billionaires has grown considerably. In his pioneering doctoral thesis, Markus Wartiovaara is the first to systematically study entrepreneurs who are worth billions and the effects that financial freedom on a social level, individual networks and individual decisions have on their wealth.

Wartiovaara has used quantitative longitudinal data on billionaires from 50 different countries, over a period of 15 years, and analysed the effects that economic freedom and market development has had on them. The thesis also examines the driving forces behind the historic decision of Warren Buffet, one of the world's richest individuals, to donate most of his wealth to charitable purposes.

In his doctoral thesis, Wartiovaara develops the stakeholder theory on an individual level.
"The stakeholder theory provides a more integrated perspective on individuals for whom professional, private and other relations are considered to be essential and integrated parts of their value creation and commitment. The stakeholder perspective highlights the role of individuals in an entrepreneurial value creation by transforming our various roles within economy, private and in society in general," says Wartiovaara.

Wartiovaara's doctoral thesis highlights several interesting questions relating to this extreme form of entrepreneurship, and stresses the importance of individual freedom and responsibility in our roles as entrepreneurs, consumers, employees, citizens and investors. In doing so, it calls attention to a constructive entrepreneurship and a more balanced social development, which also covers billionaire wealth.

EM Markus Wartiovaara publicly defends his thesis at Hanken School of Economics, Helsinki in Entrepreneurship and Management on 18 June 2012 at 12 noon for the thesis: " Values and Freedom: An inquiry into the rise and fall of billionaire wealth"

Opponent: Professor Ed Freeman, University of Virginia
Custos: Professor Martin Lindell, Hanken School of Economics

Further information:
Markus Wartiovaara, tel +358 40 8202100,
markus.wartiovaara@hanken.fi