Drawing upon the notions of academic capitalism and the transformation of academic research from traditional academic orientation into market orientation, the paper sets out to empirically scrutinize the changing nature of academic research, focusing especially on disciplinary differences. The paper is based on a survey of heads of departments and research units at Finnish universities representing all disciplinary groups (n = 255) and on in-depth interviews with Finnish academics (n = 31) in the fields of humanities, social sciences, technology and natural sciences. Based on the survey data, the funding, selection of research topics, collaboration partners, audiences and publication forums in research are analysed. Following this, five research markets are discerned: academic, corporate, policy, professional and public market, each characterized by its own values and rationality as to what is considered the reference group, basic objective and outcome of research. The paper concludes that the transformation thesis needs to be revisited and specified since on the one hand, academic orientation still remains crucially important in all disciplinary groups, and on the other hand, market orientation entails several kinds of markets, pointing to the versatility of the university-society relationship.

Despite the widespread use of performance-based management (PBM) in higher education, empirical research on the actual impacts of PBM has remained scarce, particularly in Europe. With agency theory as framework, our study utilised survey data collected from Finnish universities in order to explore the influence of performance management on perceived teaching and research performance of senior academics. Our findings suggest that although academics hold a quite positive view of performance measurement as such, this attitude does not correlate with perceived high performance in either teaching or research. Moreover, our results suggest that perceived high performance among academics still relates primarily to acknowledgement from the academic community and academic achievement rather than to measurement and financial incentives.

Although the role and significance of the external stakeholders of higher education institutions has grown in recent years, quality assurance of stakeholder relationships remains a new phenomenon in the management practices of higher education institutions and in higher education research. Based on interviews and expert panel data, this article analyses the internal and external stakeholders' perceptions of scenarios of the quality assurance of stakeholder relationships in Finnish higher education institutions. It especially focuses on exploring how institutions can balance internal and external stakeholders' perspectives with regard to quality assurance. The results show that an essential challenge for Finnish higher education institutions is to develop flexible quality assurance practices capable of balancing the academic goals of the institutions and the needs of the external stakeholders. This also requires seeking balance between the centralised coordination and the differentiated practices of disciplines and academic units inside institutions.

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The need for greater efficiency, productivity and quality in the higher education sector has triggered increased governmental interest towards different mechanisms of accountability, especially evaluation and performance measurement. This interest has developed over a relatively long period of time, but it has now reached its culmination point in many ways. For instance, advances in citation tracking, performance data collection and databases and the professionalisation of evaluative practices and methods have opened new avenues for verifying accountability. This chapter offers definitions for the key concepts used throughout the book, as follows: accountability, evaluation, and performance measurement and management. Each section is followed by a short contextualisation of the concept in Denmark, Finland, Norway and Sweden. The chapter ends with a short discussion about the policy convergence between Nordic countries and the reasons for it.