The power of financial innovations to impact societies at global scales compels us to ask how innovation occurs, how it is governed and how to support the responsible initiation and emergence of such innovation in society. This thesis focuses on investigating and comparing current approaches to, and limitations of, the governance of financial innovation and perceptions of responsible financial innovation in three very different institutional settings: a large, global asset management company; a SME developing disruptive, technology - related platforms and services based on big data and associated analytics supporting customer relationship management in the banking and retail sectors; and a global insurance broker. To date there has been almost no published empirical research into the processes and governance of financial innovation in such corporate settings. The initial hypothesis that financial innovation is not governed (internally, externally) was not supported by the empirical data: rather these suggest the existence of formal and informal mechanisms for innovation governance. As suggested in the literature, financial innovation was observed to be largely incremental in nature and involve multiple stakeholders, co-ordinated internally by an ‘innovation owner’ (e.g. an individual, a group of individuals or a department). The research suggests that while there is broad statutory (regulation) and non-statutory governance of the financial sector, there is limited direct regulation of financial innovation per se. Despite this, contextual regulation (e.g. EU) and industry standards set an important governance frame within which innovation was observed to occur, complemented by a range of organizational innovation governance approaches, which ranged from completely informal, ad hoc (‘de facto’) processes to formal staging innovation management tools. It was not possible to generalize across sectors, emphasizing the need for more empirical work in other organizations in order to understand innovation management and governance across the financial sector as a whole. Responsible financial innovation is an emerging concept associated with a very small body of academic literature. The case study data show responsible financial innovation to be perceived as an ‘interpretively flexible umbrella’ term, underpinned by a value system that leads to quantifiable positive outputs (e.g. creating customer satisfaction). The research suggests that several ‘competencies’ (e.g. compliance, learning, communication, monitoring, and ownership) were perceived as relevant to responsible financial innovation by respondents. Themes emerging from the study mirrored to some extent the seven framings suggested by Armstrong et al. (2012) and Muniesa and Lenglet (2012) and the four dimensions of responsible innovation proposed by Owen et al. (2013); these however were very narrowly framed, especially with regard to second-order reflexivity (e.g. on the normative purposes and functions of finance in society). While dimensions of anticipation, reflection, deliberation and responsiveness (Owen et al., 2013) were evident to varying degrees in the cases these were narrowly configured (e.g. around ethics of data monetization, or on anticipation of operational risks), with deliberation often being internally focused, or including only a limited range of external stakeholders. These observations cause me to argue that current mechanisms for governing financial innovation are not sufficiently robust to support their responsible emergence in society. I conclude that any framework for responsible financial innovation should endeavor to broaden the scope for stakeholder engagement and make use of multi-level governance mechanisms (including committees in the innovation and governance process), while continuing to acknowledge the importance of contextual legislation in the framing of innovation trajectories. I recommend the initiation of a cross sector and independent institution for systematic financial innovations assessment, the establishment of formal cross-sector fora and communication channels to facilitate engagement with external stakeholders, and the codification of responsible financial innovation competencies into contextual legislation.

Many companies depend on their innovation capabilities to increase sales in an increasinglycompetitive market. This affects the companies’ R&D departments, which have to identify and develop new products that the market demands. However, even though new product development has been a well-researched area, there is still a gap between theory and practice regarding how to implement efficient new product development processes. Therefore, this study has investigated how the outcomes of new product development projects can be more  consistent. Particularly, the study has focused on how project governance of new product development can be improved. This investigation has been done by conducting a case study of six new product development projects at Sandvik Materials Technology in Sandviken, Sweden, a world-leading manufacturer of high-value added steel products. The results indicate that new product development at Sandvik Materials Technology works well, however there is still room for improvement. The findings suggest that in order to improve the consistency of the project outcomes, education in the process and workshops are needed. Furthermore, roles and responsibilities should be more specific and a structure for how to handle projects in the matrix organization has to be implemented. The findings of this study have implications both on the theoretical and practical aspect. Regarding the theoretical aspect, the findings provide additional data in a well-researched area  that still has a knowledge gap between literature and practice. Furthermore, from a theoretical point of view, the findings show how a world-leading manufacturer can improve the consistency of its new product development project outcomes. / Många av dagens företag måste förlita sig på sin produktutveckling för att öka försäljningen på enalltmer konkurrensutsatt marknad. Detta påverkar företagens forskning- och utvecklingsavdelningar som måste identifiera och utveckla produkter som marknaden efterfrågar. Trots att produktutveckling är ett väl utforskat område finns det ett gap mellan de teoretiska modeller och den praktiska implementeringen av dem. Denna studie har därför studerat hur resultatet av produktutvecklingsprojekt kan förbättras. Mer specifikt har denna studie fokuserat på hur styrningen av produktutvecklingsprojekt kan bli bättre. En fallstudie på sex produktutvecklingsprojekt i Sandvik Materials Technology, en världsledande tillverkare av högt förädlade stålprodukter, i Sandviken, Sverige har bidragit till empirin. Resultatet indikerar att produktutvecklingen på Sandvik Materials Technology fungerar bra, däremot finns det utrymme för förbättringar. Förbättringarna gäller framförallt utbildning i processerna, workshops, förtydliga roller och ansvar och en tydlig struktur för hur produktutvecklingsprojekt ska hanteras i matrisorganisationen. Studien kommer att bidra till teorin genom empiri i form av en fallstudie. Denna fallstudie kan tillsammans med andra studier fylla gapet mellan teoretiska projektmodeller och den praktiska implementeringen av dem. Denna studie kommer även att bidra till en förbättring av Sandvik Materials Technologys produktutvecklingsprojekt.