Purpose: The purpose of this thesis is to investigate whether abnormal stock returns could be identified as a result of a layoff announcement during weak economy.Method: An event study methodology.Theory: Efficient market hypothesis, signal theory.Empirical results: Quantitative data from observations of stock prices in thirty two companies listed on the Nasdaq OMX Stockholm, in the period 2008 -2012.Conclusion: The results indicate that the market reaction was negative because there were negative abnormal returns on the Stockholm Stock Exchange during the period 2008-2012 in connection with the layoff announcements. The market reaction was milder when staff reductions were carried out as a result of a restructuring and stronger when staff reductions were carried out as part of a cost reduction program.The layoff announcements elicited different market reactions depending on the company's industry affiliation. The most negative reaction was in the Healthcare industry. Negative abnormal returns were lower in industries Industrials, Consumer Services and Consumer Goods. There were no abnormal returns for shares of companies in the industry Financials.

During the years 2005-2007 several cases of abnormal bleeding were seen after surgery in Bengal cats on veterinary clinics and animal hospitals in Sweden. In this study we have examined if the observed bleedings are due to an inherited defect of the coagulation cascade. Ten Bengal cats were tested for activated partial thromboplastin time (P-APT-time) and one-stage protrombin time (P-PK), and nine of these cats were tested for fibrinogen quantity (P-fibrinogen). Four of the tested cats had shown signs of an abnormal bleeding after surgery, and five of the cats were genetically related to these cats. One cat had a small bleeding wound at the internal base of the right auricle.

This paper examines if trading suspensions on Nasdaq OMX Nordic - Stockholm work as a contributing factor in creating a secure trading. This has been made through an event study and examination of abnormal returns. Our results for plus tick suspensions indicate that suspensions fulfill their purpose in creating a more secure trading since the trend of abnormal return we observe prior to a suspension is disrupted. Thus, the suspension is warranted. The conclusion is that the market cannot be completely safe; as the law and practice is structured today an abnormal return is inevitable.

I Sverige finns drygt en miljon hundar, vilket ger siffran en hund i vart femte hushåll. Främsta syftet med föreliggande studie är att se vad som är den positivt verksamma kärnan i umgänget mellan människa och hund, utifrån vad hundägare subjektivt berättar. Enligt Grounded Theory analyserades sex djupintervjuer. Resultaten visar framförallt en Personlig vinst för den enskilde hundägaren i umgänget med sin hund. Den Personliga vinsten består av de sex delvinsterna Säkerhet, Kamratskap, Kunskap, Aktivitet, Socialt och Hälsa.

Question:"Does the market possess perfect information as the efficient market hypothesis says?""Is there any significant relationship between the abnormal stock return on the ex ? day and the dividend?" Purpose: The purpose of this study is to enlighten and find understanding about stock return versus dividend on the ex ? day and try to figure out if abnormal returns occur on the portfolio during dividends.Methodology:The study was based in a quantitative nature and was derived with an event study and a hypothesis testing. The authors investigated the thirty most traded shares on the Stockholm stock exchange during a period of five years (2005 ? 2009). They were analyzed during a total of nine days; the estimation window was set to sixty days.

Ett börsnoterat företag som inte förväntar sig att resultatet för perioden kommer att uppnå tidigare förväntningar kan gå ut med en vinstvarning till marknaden. I samband med vinstvarningar tenderar aktiekursen att reagera kraftigt och generera en abnormal avkastning. Syftet med denna uppsats är att undersöka marknadens reaktion vid negativa vinstvarningar för svenska börsnoterade bolag, samt att undersöka bakomliggande faktorer som skulle kunna förklara vad de eventuella reaktionerna beror på. Studiens metod har en kvantitativ ansats där en eventstudie använts för att kartlägga effekterna av ett vinstvarningsmeddelande på företag noterade på Stockholmsbörsen under åren 2004-2014. För att konstatera statistisk signifikans och påverkan har urvalet behandlats med t-test och en multipel regression.

We acknowledge the lack of empirical studies of the performance of analyst target prices in the Swedish stock market by examining the profitability of target prices for stocks publicly traded on the Stockholm Stock Exchange. We use consensus target prices issued between 2006-2010 and create two different strategies to observe the abnormal returns generated during this period. Going long in the top decile stocks with the best target prices and going short in the bottom decile stocks with the worst target prices generates a statistically significant abnormal buy-and-hold return of 8.9%. An active strategy with daily portfolio rebalancing and a timely response to target price changes generates a less significant monthly alpha of 1.4% against CAPM. The results show to be robust against the size effect discovered by Fama and French.

En eventstudie gjordes på aktierekommendationer publicerade på Privata Affärers hemsida mellan 2009-2010. Publiceringsdagen för rekommendationen utgjorde eventdagen och ett eventfönster på fem dagar innan och fem dagar efter. Rekommendationerna delades upp i olika kategorier för att kunna se skillnader mellan köp, avvakta och säljrekommendationer samt för Mid Cap och Small Cap. Uppsatsen kunde inte påvisa någon generell statistisk signifikant överavkastning i någon av de undersökta kategorierna..

This paper treats the question about how the internationally established company, Apple, is affected by intern or extern events when it comes to the trade market. The purpose of the study is to investigate if chosen events create abnormal return on Apples stock market. The chosen research area is Steve Jobs three sick-listings, It-bubble and the purchase of the search engine company Siri. The reason of writing about this is the big interest for the stock market and its function.This study methodological starting position is quantitative done by an event study, with qualitative feature done by an interview with an expertise within this area. When analyzing the empirics, we have used the efficient market theory that says that information should not affect the stock market in the degree that abnormal return creates.

My purpose in this essay is to show how the staff in an institution for young women with a drug addiction, are looking at themselves as "normal" and the young women as "abnormal", and to analyse how sex and gender are made, in interaction with sexuality and class.The essay is based on interviews and a participating observation. The study is made on a compulsory institutional care institution for young women with a drug addict. To analyse the material I use theories by Beverly Skeggs and Judith Butler.In the study I show that the staff in the institution define themselves as "normal" and intend to act as models for the clients, which are described as "abnormal" in terms of being destructive, boundless and sexual. In making class and gender the staffs efforts to make clients learn domestic values and to make their bodies feminine are shown to be central processes. Sexuality is by the staff seen as something happening only between men and women, and defining relations between men and women as always sexual creates gender.A central tension that I show in the essay is that between normal and abnormal, both in relation to differences between the staff and the clients and in relation to the staffs roles as both models of normal life and of violent and violating keeps of order.

In light of the current debate on gender equality and behavioral finance, the study aims to describe whether gender differences in financial stock picking can be explained by the different multiples found within the Value Investing Theory. Furthermore, the study aims to determine which of the four portfolios, value, growth, male or female, that has had the strongest return. The results suggest that there is an association between female and value stocks as well as between male and growth stocks. Out of the four portfolios, the value and female portfolio were on average the best performers with abnormal returns..

Syftet med denna uppsats är att undersöka om svenska koncerners resultat och nyckeltal påverkats av den standardändring som infördes i USA från och med årsskiftet 2001/2002, SFAS 142. Detta för att kunna generalisera resultatet till den svenska marknaden i och med att IFRS 3 implementeras under 2005. Vår undersökning, som genomförts med en jämförande ekonomisk utvärderingsmetod, visar att samtliga undersökta koncerner redovisar ett synbart högre resultat och en urskiljbar högre vinst per aktie. Vi kan konstatera att vid såväl ett positivt som ett negativt resultat är standardändringen gynnsam för koncernerna. Ju större goodwillposten är desto större förbättring av vinst per aktie på grund av den uteblivna avskrivningen..

Background:It is always fascinating to observe the events that affect the stock market, especially as the numbers of influencing factors are so many and various. Political elections are important events in society and affect the corporate environment in different ways depending on which political party that is in power. This brings up the question of whether political elections are important enough to affect the stock market; and it is this question we intend to analyse in this paper.Purpose:The purpose of this paper is to investigate whether political elections affect the stock market and to discuss the reasons for any possible affect that might be found.Procedure:An appropriate and thoroughly tested method to investigate if an event affects the stock market or not, is to do an event study. Subsequently we chose to do an event study on whether the Swedish general elections in 2002 and 2006 affected the Stockholm Stock Exchange. In order to give the analysis more depth we have also chosen to interview people with knowledge of the stock market.

Share repurchases in Sweden has since legalization in 2000 gained momentum. Similar to other corporate events, there are studies that examine whether this affects the share price performance. With studies in the U.S. that measured excess returns of approximately 3,5 percent on the announcement day; Swedish buybacks, holding a tighter regulation is of interest to study. The Stockholm Stock Exchange regulation regarding reporting is also similar to the Stock Exchange in Hong Kong.

Syftet med denna magisteruppsats är att undersöka Stockholmsbörsens reaktion i samband med företagens kungörelser av börsavknoppningar enligt Lex Asea. För detta ändamål genomfördes en eventstudie för alla företag som har kungjort deras avknoppningsplaner mellan åren 2000 och 2005. Undersökningspopulationen för denna studie uppgick till 23 företag som sammantaget gjort 25 kungörelser under den studerade perioden. För beräkning av eventuella abnormala avkastningar användes marknadsmodellen, med uppskattningar baserade på den historiska utvecklingen hos OMX SPI ?indexet och hos de berörda aktierna.