Mikael Collan

Mikael Collan is a full tenured Professor of Strategic Finance at LUT University, School of Business and Management, Finland, where he leads the Finance and Business Analytics team. He previously served as Director General of the VATT Institute for Economic Research (2021–2024) and chaired the TULANET network of Finnish state research institutes. His academic and professional roles reflect deep engagement in both academic research and public policy.

• Doctor of Science in Economics and Business Administration, Åbo Akademi University (2004)

His research focuses on decision-making under uncertainty, particularly in investment profitability analysis and strategic decision support for real investments. Key areas include real options valuation, fuzzy logic, and the Pay-Off Method—a framework he developed for practical application of real options in industries such as mining, energy, and R&D. His interdisciplinary work bridges finance, information systems, and innovation management. He has contributed to the design of master’s programs in Strategic Finance and Business Analytics, and has extensive teaching experience in corporate finance and entrepreneurship.

His recent publications highlight a strong trend in fuzzy systems, energy economics, and strategic investment analysis. Articles span topics such as patent valuation under imprecise information, renewable energy policy, electricity market regulation, and digital manufacturing. His work increasingly integrates computational intelligence with real-world business and policy challenges.

Scientific affiliations and memberships include:

• Member, Finnish Society of Sciences and Letters (since 2015)
• Board member, multiple national and international SMEs
• Active contributor to scientific organizations in decision sciences and fuzzy systems

Mikael Collan has over two decades of experience in consulting, board-level governance, and strategic management systems development. He has advised Finnish industry on business architecture, IT strategy, and process optimization. His research has been supported by collaborations with institutions across Europe and has resulted in over 110 publications, including books and high-impact journal articles. He is a recognized expert in applying advanced decision models to complex industrial and policy problems.

He leads research initiatives in:

• Finance and Business Analytics team at LUT
• Development of the fuzzy pay-off method and its applications
• Strategic decision support systems for long-term investments