OP Group Research Foundation grants EUR 1.2 million for a research project of three Finnish universities

High-quality research cannot be produced without expensive research data and people, says Associate Professor Elias Rantapuska, leader of the research project on the financing sector and financial institutions at Aalto University
Elias Rantapuska, photo by Evelin Kask
The project makes it possible for several research groups in several universities to focus on conducting research instead of applying for funding, says Associate Professor Elias Rantapuska. Photo: Aalto University / Evelin Kask

The research group of Associate Professor of Finance Elias Rantapuska participates in a project launched in honour of the 50th anniversary of OP Group Research Foundation, which brings together researchers from three Finnish universities. 

In addition to Elias Rantapuska, the accomplished research group includes Professor Kari Heimonen's team at the University of Jyväskylä and Professor Sami Vähämaa's team at the University of Vaasa, and it will receive an annual grant of EUR 400 000 from OP Group Research Foundation, a total of 1.2 million from 2023 to 2025.

The multiannual research project will promote academic research and doctoral education in the financing sector in Finland, and Elias Rantapuska does not hide his enthusiasm.

'I am very enthusiastic, motivated and grateful. Scientific research is a long-term activity, and it is quite fantastic that the OP Group Research Foundation has decided to fund a large and long-term project that promotes research on financial institutions.'

High-quality research requires research data and people

The goal is to create a vibrant and academically strong research group in Finland to study financial institutions and their evolving operating environment from different perspectives. OP Group Research Foundation is committed to supporting research on financial institutions and researchers in the field in the long term, even beyond this grant.

The project to be launched at the beginning of 2023 will be a new, significant opening for both OP Group Research Foundation and the universities in the research group.

'The project makes it possible for several research groups in several universities to focus on conducting research instead of applying for funding. High-quality research cannot be produced without research data and people but acquiring data and hiring junior researchers is expensive. This is the beginning of a national research consortium of financial institutions, which will enable the creation and growth of a strong research cluster on banks and other financial institutions in Finland', says Elias Rantapuska.

Timo Korkeamäki, Dean of the School of Business, also considers the project significant.

'I would like to extend my warmest thanks to OP Group Research Foundation for this important research funding, which enables us to expand research related to financial institutions in Finland. It also supports the collaboration between researchers from all three universities in the research group.'

The project will create a collaboration that will generate new research data and increase the offer of academic education in the financing sector in Finland.

'I hope that the project will improve collaboration between universities and banks. I believe that the work to be carried out in connection with the project will improve the quality of doctoral education in this very important field of research,' says Annukka Nikola, Chairman of the Board at OP Group Research Foundation.

Read the press release by OP Group here

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Elias Rantapuska

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