According to Swedish tax legislation, investment funds are taxed differently depending on if the are Swedish or foreign. The difference between the investment funds lies within the taxation of received dividends and the opportunity to shift the liability of tax of received dividends on to the funds shareholders. This measure is only available to Swedish funds. The question in this thesis is whether this difference is discriminatory against foreign investors and therefore constitutes a forbidden restriction against the free movement of capital stated in article 63 EUF Treaty.The European Court of Justice (ECJ) has given several preliminary rulings on this type of legislation and its compatibility with the principle of free movement of capital. It is not compatible with the free movement according to the court.

I denna studie har vi haft som avsikt att jämföra två modeller som förklarar avkastningen på aktiemarknaden. Modellerna är Capital Asset Pricing Model (CAPM) och Fama-French trefaktormodell(FF3). Undersökningen har gjorts på Nasdaq OMX Nordic Stockholm över perioden 2002 till 2012. Vi har valt att göra denna undersökning för att se huruvida FF3 med två extra faktorer kan förklara avkastningen på aktiemarknaden bättre än CAPM. Sex portföljer konstruerades och vi har visat att FF3 statistiskt signifikant förklarar mer än CAPM för fem av sex portföljer.

A recent development in the field of accounting has been an increasing use of fair values in financial reporting. In 2005, this development was reinforced in Sweden by the adoption of the International Financial Reporting Standards. The aim of this thesis is to discuss the problems related to the use of fair values, through a case study of the Swedish investment bank Carnegie. In May 2007, Carnegie announced that the result had been overly stated by 630 MSEK, due to the valuation of derivatives within the trading department. The empirical material consists of documents produced in the legal process between Carnegie and the Swedish Financial Supervisory Authority.

The purpose of this study was to examine in depth and analyze how and on what basis selection of guests managed by doormen primarily in an exclusive bistro in Stockholm. Qualitative methods in the form of personal interviews with door staff and participant observations were made. Interviews with doormen who work at two other similar places have also been carried out in order to find the differences and similarities in the selection process. To connect the results in a scientific way, we have mainly used Pierre Bourdieu's theories of capital forms and the field, and Göran Ahrne and Apostolis Papakostas organization theories. Previous research related to the phenomenon of selection in one way or another, along with the overarching theories, are used to answer the questions and purpose of this study.

Det har på senare tid uppstått en diskussion angående det asymmetriska vinstdelningssystemet i riskkapitalfonder. Diskussionen gäller hur s.k. carried interest ska beskattas. Uppsatsens fokus har legat på vilket inkomstslag carried interest är hänförligt till samt vem som är skattesubjekt. Skatteverket anser att carried interest är en prestationsbaserad ersättning och därför ska beskattas som en tjänsteinkomst.

Syftet med studien är att förstå varför medarbetarna på avdelningen Capital Goods, DeLaval, trots rörlig ersättning som motivationshöjare, har svårt att uppnå de mål som är uppsatta i deras balanserade styrkort. Syftet är vidare att komma med förbättringsförslag till ledningen om hur de ytterligare kan motivera sina medarbetare. Varför har medarbetarna på Capital Goods, DeLaval svårt att uppnå de utsatta målen på deras balanserade styrkort? Vad motiverar medarbetarna på Capital Goods till att uppnå målen som är uppsatta på de balanserade styrkorten?Studien är kvalitativ karaktär där intervjuer med chefer har genomförts för att få en bättre förståelse av problemet. Studien är också kvantitativ karaktär, där en enkätundersökning genomfördes för att komplettera de kvalitativa intervjuerna och stärka reliabiliteten i vår studie. I vår undersökning framkom att de flesta orsakerna till lägre måluppfyllelse är sammanlänkade med varandra.

Small business enterprises have escalated in Sweden during the last decade. However, new established companies are struggling to maintain their selves during the startup process and according to a survey from Tillväxtanalys, only 68 % of startup companies from 2008 were still active three years later. One of the main reasons is lack of capital and the most common approach to finance companies is to apply for a bank loan. In other words, commercial banks are of great importance for new businesses. Although, the problem arises when there is no previous history from the new businesses that the bank could base its credit assessment on.

This essay studies how and why large sports clubs from sports with a different degree of commerciality interact with their institutional surroundings in the way that they do. It compares two large Stockholm-based table tennis clubs, Ängby SK and Spårvägens BTK, with a large Stockholm-based football club, AIK Fotboll. In order to get proper data, a number of key persons within the organisations were exploratively interviewed using open and semi-structured questions, together with study of literature and other sources related to the subject. One of the key findings was that the non-profit table tennis clubs, who were expected to resemble the institution association closely, were subject to company-ization, and thus acted a lot more like the institution company than expected. The other key finding was that the football club, although driven partially like a public limited company, in many aspects placed a greater value on cultural capital than on economic capital..

We have performed a case study on Acne Jeans, a creative Swedish fashion company, which initiated a cooperation with the Swedish venture capital firm Öresund. The aim of our paper was to examine what motivates a venture capital firm to transform the management control system of a creative company, into a more formal system of control. Main results: Öresund did not have an excessive impact on the management control system of Acne Jeans, due to three main reasons. First of all, Acne Jeans had a satisfactory management control system prior to the cooperation. Furthermore, the relationship between the two parties was characterized by mutual trust.

Title: Investor or Maecenas? ? A study on the usage of venture capital within the Swedish film industry.Author: Tobias MagnussonSupervisors: Ahmad Ahmadi, Clas GunnarssonPurpose: The purpose with this thesis is to complement the research on procurement of capital within the Swedish film industry.Methodology: The primarily research method that have been used to gather material is qualitative interviews, that has been performed with four individuals that are active in the Swedish film industry.Theory: In order to create an adequate theoretical base, theories regarding investments and cultural entrepreneurship are presented.Empirics: In this chapter the results of the interviews are presented, sorted in several subcategories. The material is thereafter analyzed and discussed in the following chapter, with the theoretical base in mind.Conclusion: The usage of venture capital within the Swedish film industry is relatively low today. Non-monetary values are the primary reason to invest in the Swedish film industry today. A significant risk diversification, together with knowledge dispersion needs to be made in order to make the Swedish film industry more attractive to investors.

That many creative workers have uncertain and uneven incomes is well-established, but how or why they make a living is not. This paper examines the elusive value exchanges between creatives, buyers, consumers, and other economic supporters, and offers a model of how creatives make a living. By mapping income statistics of Swedish creatives together with in-depth interviews some patterns emerge. This, combined with Bourdieu's theories of social, cultural and symbolic capital, and Knorr's objects of sociality, forms a basis for a structured model of value exchange. The paper shows how creative workers create economic and non-economic capital (capitalization), how they advertise this capital (signaling), and how they convert between different types of capital (conversion) in order to make a living.

The purpose of this thesis is to create a greater understanding of relationships and networks on regulated markets. This includes what the climate are like on such a market and how different aspects within relationships and networks are affected by regulations. By the use of a deductive approach, a qualitative study was performed. This was carried out by interviewing different actors on the Swedish market of alcoholicbeverages. The theoretical framework includes relationship quality, consisting of power and dependence, cooperation,adaptation and trust.

Hedge funds have the past few years become an increasingly popular investment alternative and in the last decade hedge fund assets managed have quadrupled to USD 2000 billion, a growth rate of around 25-30% per year. One explanation for this substantial increase is that hedge funds' minimum limits on capital invested has declined, which have made ??them available to retail investors. The recent turmoil in financial markets has also contributed to investors finding their way to hedge funds, whose goal is to generate stable returns regardless of how the market develops.Using Sharpe?s, Treynor?s and Jensen's performance measures, I have investigated whether hedge funds manage to generate higher risk-adjusted returns than traditional managed funds.

It is well known that small businesses and entrepreneurs in the initial phase has difficult to gain access to external capital and bank loans. With the background of the problems that entrepreneurs face when they ask for capital has since the financial crisis the phenomenon of crowdfunding developed and evolved. Crowdfunding is an alternative source of funding for entrepreneurs to fund their ideas through small or medium-sized capital contribution from a larger amount of investors, often investors who have any kind of relationship with the entrepreneur or to the very idea. This study examined the factors that motivate and guide an investor's decisions when they select their projects. The results of the study show that the motives of the various existing forms of crowdfunding is big.

In recent years, global organizations safeguarding financial stability has started to track commercial property markets. One of the reasons for this refers to the fact that commercial property constitutes a large share of bank lending. Simultaneously, bank exposures to commercial property are extensive and risky since collateral values are strongly correlated to borrowers cash flows. Since banks are viewed to play a key role for financial stability, studying the relationship is well motivated. To better understand how commercial property markets interact with financial stability, this paper develops an econometric model for studying the commercial rental market.