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This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have identified some individual determinants related to the voluntary establishment of an internal audit function, the existing evidence on how board members’ compensation affects voluntary use of internal audit is, at best, ambiguous, scarce and incoherent.

Board compensation is a central incentive instrument in the classic principal–agent relationship between the owners and board members. The theme is empirically examined by using data compiled from Finnish publicly listed companies for the period 2015 to 2018. Since the dependent variable of the study is a binary variable, the logistic regression method was chosen as the statistical method of the study.

Our results unequivocally show that generous compensation of the board members increases the likelihood of establishing an internal audit function. Thus, we conclude that good corporate governance can be improved through generous compensation of board members.

Identifying the determinants of internal audit is vital to better understand the mechanisms that facilitate firms' improvement of internal control and risk management in terms of voluntarily adopting an internal audit function, and the implementation of good governance in general. Although numerous determinants of internal audit have been identified in previous studies, this study showed that one of the key determinants has so far been overlooked; namely, the remuneration of board members.

The purpose of this paper is to investigate the impact of logistics value-adding services and perceived service quality on brand equity among B2B customers of a brewery company.

A theoretical model is developed and tested using survey data from 173 hotel, restaurant and catering (HoReCa) industry customers of a brewery company in Finland.

Value-adding services play an important role in building the brewery company’s brand equity through perceived service quality. Besides a direct impact on overall service quality, an indirect impact is detected through the operational dimension of service quality in logistics.

A broader data set would be needed to generalize the findings also beyond the brewery business and the HoReCa industry customers in Finland.

To increase brand equity, value-adding services like logistics can play an important role for B2B customers. This study is important for practitioners and academics, as there has been little quantitative research available regarding value-adding services in the context of service quality and brand equity research.

This paper combines logistics as value-adding service to customers’ willingness to pay extra profits to cooperate with service producer.

Entrepreneurial passion has recently begun to fascinate a growing number of researchers. While only a few systematic studies exist, Cardon et al.'s review suggests passion as a prevalent phenomenon among entrepreneurs. They make a call for empirical and systematic studies of entrepreneurial passion to provide insights for practice and research. This paper aims to apply the recent theoretical advances in a particular empirical setting: the heavy metal genre in the popular music industry.

Using a qualitative in‐depth case study approach, four ventures that are considered new ventures in the metal music business are studied.

The findings strongly imply that the grounds for a globally successful creative venture require the passion of at least one inventor entrepreneur. Also, at least one founder is needed to take the venture to the next stage, where business is formalized for ramp up and at least one developer is needed to grow the business after the other two identities and earlier stages of the venture life cycle have created the platform on which to build and develop the business. The paper also finds that these role identity‐related behaviors are essential characteristics for artists in the popular music industry.

The popular music industry is an excellent research site for studying entrepreneurial passion because artists start their careers and join together to form bands mainly because of their passion and love to create and perform music. While the theory of entrepreneurial passion offers a promising approach for entrepreneurial studies, few systematic studies exist that apply it.