Title: The appraiser?s choice of valuation method ? factors that influences the choice of company valuation methodsSeminar date: 04/06/07Course: Master thesis in Business Administration, 10 Swedish credits.Authors: Anne Benedicks and Veronica ÖbergAdvisor: Eron OxingProfession of category: Financial analysts, auditors and company lawyers.Key words: Company valuation, valuation methods, cash flow analysis, comparative valuation, the net asset value method.The Main Issue: What is of decisive importance when choosing a special company valuation method?Purpose: The purpose of this paper is to identify, analyse and evaluate the most common methods of valuation for financial analysts, auditors and company lawyers and those factors that influences the choice of method.Method: A multiple survey has been implemented for the actual profession categories. Primary data was collected through semi-structured interviews and a questionnaire survey.Theoretical: The theoretical frame of reference is based upon the paper?s dependent variable, i.e. the role of the appraiser.

Sedan 2005 är det genom en förordning av Europeiska unionen bestämt att svenska börsnoterade företag ska nedskrivningstesta sin goodwill. Diskonteringsräntan som appliceras vid denna nedskrivningsprövning är av väsentlig betydelse. Vi replikerar delvis en studie av Carlin & Finch (2009) som beräknade teoretiska diskonteringsräntor enligt Capital asset pricing model (CAPM) och jämförde med de diskonteringsräntor som börsnoterade företag i Australien använt i sin redovisning. Carlin & Finch (2009) ansåg att avvikelserna däremellan kunde förklaras genom utövanden som är diskretionära och att opportunistiskt beteende förekommer när företag sätter sin diskonteringsränta. Vi använder ett underlag bestående av Sveriges största börsnoterade företag, de som är noterade på Large Cap- och Mid Cap-listan på Stockholmsbörsen, och studerar hur andelen som redovisat en enligt CAPM avvikande diskonteringsränta förändrats sedan de nya redovisningsreglerna trädde i kraft år 2005 till år 2009.

This essay is about the origin, planning and establishment of the European Space Research Organisation's (ESRO) sounding rocket base Esrange outside Kiruna in Northern Sweden. Three main questions are examined. First I show there were not just scientific and technical but also political, economical as well as military reasons to build a European rocket base. Second, I scrutinize the reasons to choose Northern Sweden as the location for the rocket base. As it turns out, the main reasons were the favourable location of Northern Sweden within the aurora oval zone, the proximity of the Kiruna Geophysical Observatory, and the possibility to use a large, although not quite uninhabited, area where the launched rockets could crash.

Oxytocin is a hormone which plays a crucial role in many reproductive and behavioural functions. It affects many organs and the classical peripheral targets are the mammary glands during lactation and uterus during labour. Oxytocin receptors have recently been described in a variety of normal tissues and primary cell cultures, but also in neoplastic tissues and established neoplastic cell lines, as breast cancer cell lines. The signalling pathways and biological effects of the oxytocin/oxytocin receptor system seem to depend on species, type of tissue, physiological versus neoplastic state and receptor location within the cell membrane.The aim of this project was to find out if the cell proliferation in the canine mammary carcinoma cell line CMT-U27 was affected upon stimulation of oxytocin, and to investigate the presence of oxytocin receptors in these cells. The cell proliferation was examined by using an ELISA-kit, where the absorbance measured is relative to the amount of living cells.

In latter years there has been a discussion about the increasing importance of intangible assets and how to incorporate this fact into strategies, accounting and valuation. The ?Internet-bubble? is a recent event that drew much attention to intangible assets, and was an indicator of how complex it can be to value assets in general and intangible information in particular. Legislators recently addressed this issue by introducing IFRS3, which led to an update of IAS38, which in turn revised the methods for handling intangible assets. A specific intangible asset that has caused much debate is research and development (R&D), since it is commonly not allowed to be realized as an asset, which could cause implications concerning analysis and valuation.

Recent years have been very turbulent for most private equity firms. Especially the financial meltdown in global economy has affected the industry, but also the public pressure has made private equity houses change their control strategies towards more conventional methods used in public companies. This thesis aims to put light on the control methods used in listed private equity houses which use a buyout strategy. The paper describes how the control methods change over the different phases the asset experience and how different value generating strategies use altered control methods. Using Merchant's (2003) framework for management control systems and Berg and Gottschalg's (2004) research on value generating strategies in buyouts the thesis shows that action controls as designing instructions for the board and a business plan, together with goal alignment is the commonly used control strategy directly after the acquisition.

In the current situation in the housing market and in particular the inner city much attention is directed towards achieved prices per square meter in sales. The indicator is as a principle an appropriate measure of the housing market?s health and development, and can to some extent be used to make approximations of the general economic health status of municipalities and counties. It occurs occasionally that questions about whether prices are based on fundamentals at all times.The thesis questions that very issue, not from a macro accompanying financial perspective but rather from a microeconomic perspective, where each tenant ownership in the study is a micro-object. Are the observed prices per square meter rational relative to housing cooperative?s assets or is there a lack in the observed prices anchoring the respective association's finances.

This thesis explores different ways of navigation in virtual environments. It also investigates how virtual environments can support human memory. Tests are done using a self made virtual model of Orkanen Library, Malmö högskolas school library. Among the different navigation tests that were done, a visual guidance in form of a line on the ground leading to the goal is showed superior when navigating a virtual environment but that people prefer legible landmarks instead. Tests were also done which show that a 3D-model of a real location supports context based memory.

Background: The Stop rule for buying in property was introduced through 1976 years legislation and its formemost purpose was to prevent companies to acquire property that was useless for the company. Assets such as cars, boats and arts were of current interest. At the same time as this stop rule was introduced, another stop rule was also introduced and this was meant to work to forbid the partner to buy property from the close company to a price that would lead to sell at loss for the company. After a government decision (1999:2000, Abolished Stop rules) the close company is no longer living under this restriction since these two stop rules have been abolished since January 2001. Purpose: The purpose of this thesis is to investigate which criteria are the basis to judge whether the assets is to consider as useful or not for the close company.

In the current situation in the housing market and in particular the inner city much attention is directed towards achieved prices per square meter in sales. The indicator is as a principle an appropriate measure of the housing market?s health and development, and can to some extent be used to make approximations of the general economic health status of municipalities and counties. It occurs occasionally that questions about whether prices are based on fundamentals at all times.The thesis questions that very issue, not from a macro accompanying financial perspective but rather from a microeconomic perspective, where each tenant ownership in the study is a micro-object. Are the observed prices per square meter rational relative to housing cooperative?s assets or is there a lack in the observed prices anchoring the respective association's finances.

This master thesis was written in the purpose to study how the location and access to computers in the physical realm of the public library reflects the undergoing changes in the public libraries role in Swedish society. This study is done in a form of a case study of three small public libraries. All of them were in the process of transforming both their physical and virtual space. The thesis focuses on where in the library the computers are placed and how their location interacts with the libraries main tasks. It also focuses on the analysis of the relationship between these two elements and how that relationship reflects the alteration of the public libraries place in society.

Då dagens konflikter ofta utspelar sig mitt ibland civilbefolkningen och där aktörerna kan utgöras av allt från miliser till kriminella gäng ställs det nya krav på de militära förmågorna för att kunna agera i dessa komplexa miljöer. En generell trend för dagens artilleriförband är att de används till att verka mot mindre målgrupper utgörandes av två till fyra personer. Erfarenheter från konflikter i likhet med de i Irak och Afghanistan har visat på vikten av tillgång till precisionsbekämpning med indirekt eld för att undvika förluster bland de civila. En förutsättning för att kunna genomföra precisionbekämpning är att målets position kan lägesbestämmas med en mycket hög noggrannhet.Med hjälp av ett digitalt eldledningsstödssystem innehållandes en tredimensionell digital karta kopplat till EOI:et kan positionsfel i måluttaget i en urban miljö reduceras till under metern. .

The municipality of Enköping is presently working out a new layout plan for the town of Enköping and new residences are planned in the harbour area. Because of these plans, the municipal energy company ENA Energi may have to move its location from the harbour to another part of the city.The aim of this degree project is to investigate the possibility of building a new CHP plant in another area of Enköping. The future demand on district heating and infrastructure at the new location have been projected. A new CHP plant has been dimensioned and economic analyses concerning the project have been made.Results show that the future demand of district heating in Enköping will differ a little from the present needs. In 2030, the district heating production is expected to be c.

The ordinary phone of today is not the same as it was 10 years ago. We still use them tomake phone calls and to send text messages, but the ordinary phone of today has muchmore uses, it is essentially a computer. To put into context to 10 years ago, it is a verypowerful computer, capable of processing wide array of information and presenting it tothe user. Nearly every single device today has a wireless connection, which makes everyuser connectable and able to use online services and internet at any time and place.This gives the user the possibility to integrate his or hers everyday actions with socialmedia and different search functions. Being able to search the internet for persons,restaurants, public transportation and a lot more is very useful to most.

Bakgrund: 1 januari 2013 kommer Direktivet (2009/138/EG) för Solvens II att implementeras. Detta kommer ske samtidigt inom Europeiska Unionen (EU) och kommer leda till en harmonisering av försäkringslagstiftning i medlemsstaterna. Tidigare svensk lagstiftning, Försäkringsrörelselagen (2010:2043), kommer med andra ord att anpassas till det nya regelverket. Regeländring kan komma att påverka svenska försäkringsbolags bedrivna kapitalförvaltning.Syfte: Syftet med studien är att undersöka om svenska försäkringsbolag utifrån rådande lagstiftning kan bedriva en, enligt finansiell teori, rationell kapitalförvaltning och om möjligheten till att bedriva en rationell kapitalförvaltning kommer att förändras i och med implementeringen av Solvens II.Genomförande: En genomgång av dagens regelverk, Försäkringsrörelselagen, samt Direktivet (2009/138/EG) för Solvens II kommer att presenteras. Utöver detta har fem stycken intervjuer med svenska försäkringsbolag genomförts.Slutsats: Dagens lagstiftning ger inte möjligheter till att bedriva en rationell kapitalförvaltning fullt ut.