Title:Pecking-order i små tillverkande företag Level of thesis:Master´s dissertation in banking and auditing Authors:Mathias Klasén and Maria Waderoth Advisor:Joakim Winborg Background:The area of business financing has been well studied during the 1900´s. Many studies and theories are made with big corporations in mind, and the importance of small businesses wasn?t enlightened until the end of the 1900´s. Business financing has created a number of theories, among them Myers pecking-order theory. This theory implies that business managers prefer internal equity in front of debt and external equity.

Background: Since the early 60?s, the CAPM or Capital Asset Pricing Model, has been an invaluable tool for assessing an asset's expected return, assuming that the asset is added to an already well-diversified portfolio of assets. CAPM theory assume that the unsystematic risk can be diversified and that the systematic, market-specific, risk is determined by the Beta value, from the Greek ?. An investor who takes big risks expect higher returns.One of the CAPM?s basic assumptions is that disruption in the market is not taken into account.

AimThe aim of this study has been survey the possibilities for short-term stays in the Stockholm Archipelago for people without their own means of transport, own equipment and/or experience of outdoor life.To fulfil this aim, the following questions were formulated:? What communications are available to chalet parks in the Stockholm Archipelago?? What overnight accommodation is available in the chalet parks in the Stockholm Archipelago?? What activities can be pursued in the Stockholm Archipelago?? What is the financial cost of travelling to and staying in the Stockholm Archipelago for a week?MethodWe chose to use six interviews and three observations in order to gain as much insight as possible. Interviews were conducted with Claes Petterson at Waxholmsbolaget, a company that provides transport services in the Archipelago, and with managers for five chalet parks: Rolf Andersson for Finnhamn, Per Englund for Grinda, Arne Johansson for Rånö, Pär Hjärtström and Peter Hösöyen for Gålö and Anders Bedinger for Gålö and Nåttarö. The interviews were recorded in writing and on tape. Observations were carried out at three chalet parks, i.e.

Over a long period of time, there has been a rich debate in the academic and financial world if active management can generate an excess return. Many experts say that the current active management strategies is nothing more than a money grab that produces large gains, for banks and investment firms, through high management fees while producing no excess value for the individuals buying their service. In short, an effective market makes it almost impossible for fund managers to produce value for their clients in the long run.No argument has only one side though, other experts say that active management has a role to play because not all investors are rational. This irrationality can lead to mispricing on financial assets in the marketplace and in turn lead to an ineffective market where active management can fill a much needed role. The purpose of this study is therefore to see if active management strategies can create a higher risk adjusted return, taking management fees into consideration, during times of high volatility when the uncertainty is at its peak.

The education program System design at the University of Kalmar has since it?s beginning been missing a near by studio for it?s students studying towards audio and music. In the choice of examination project I would take upon this task, which was long wanted for the teachers and students at the university?s Musikhuset.Musikhuset became the buyer of the project, and the studio was to be installed at their premises. Unfortunately, the project got jammed by the university?s financial savings calculations, and was due to this delayed in the end for 11 weeks.

AbstractWhen immigrants move to Sweden from their native country it is not unusual that they experience some kind of identity crises. Their own experience of their cultural identity can be very problematic and they often lose a part of what they previously saw as their own identity. To handle such crises the immigrants can use different strategies. They can for example accept their disparity, deny it or emphasize it. The aim of this study is to examine how immigrants in Sweden experience that their cultural identity has changed since they moved here from a country that has a culture that is different from the Swedish culture.

This is a qualitative study with a hermeneutic and partially inductive approach. The study?s purpose is to enhance the understanding of young adults experiences of unemployment and the importance of being employed. In this study, eight young adults participate in the project Framtid Kronoberg. The youths are 19-25 years of age.

Practical and theoretical learning are methods that are used in schools as a way to prepare students for the working life. Within the practical learning knowledge is not only acquired to learn in practice, but the students must also be able to apply their theoretical knowledge to what he/she does. Against this background, the aim of the study was to investigate the importance of practical learning for students in college / university level and how they are experiencing the stress that may arise out of the loss of practical learning during their education, as well as their vision for working life after completing their education. The population of the study consisted of N = 36, which 18 of these had used both practical and theoretical learning and the remainder had only used theoretical learning. The method was a questionnaire survey with a high proportion of fixed alternative answers according to likert scales.

We have two aims with this thesis. The first aim is to describe CFD as a financial instrument in detail by highlighting its potentials and disadvantages. The second aim is to try to find the optimal real margin for each of the underlying stocks.We have adopted an inductive approach, combined with a quantitative method. We have worked with data and tried to come up to conclusions from the results we got.The conclusion of our thesis is that it is optimal to enter a CFD-contract with own capital covering at least 20 % of the value of the contract..

The main objective of this thesis is to examine the situation concerning information technology, computers and information resources for university students at a selection of universities, and their libraries, in Sweden. Another objective is to compare this situation to what is stated in policy documents on the subject, and if the size of the university matters regarding resources. The thesis starts with a discussion of several authors, Frank Webster, Paul F. Burton and Lars Qvortrup among others, and their views on the information society. These range from whether we are living in it, are in a transition period or are still in the Industrial Society.

Article 4.1(h) in the Rome I regulation establishes which law that will be applicable on contracts concerning financial instruments concluded in multilateral systems. The main problem is that most contracts concluded within these systems have standard clauses which contain a clause on the applicable law. If this is the case, Article 3.1 in the Rome I Regulation is applicable instead. This problem makes it difficult to find a need for article 4.1(h) if it will only be applicable in exceptional cases. However, the legal position on this matter is still unclear since the Rome I Regulation has just been put into force.

The City is filled with signs of life. It teems with human traces waiting to be discovered. Street art of different kinds prevails behind traffic signs, on posts and electrical boxes. Personally con-structed dogs guard roundabouts all around Sweden and small gardens spire underneath window ledges. In this work I want to identify these phenomena and find out what thoughts inspired these creations.

This thesis deals with the possibilities of installing solar panels on a property, the building is owned by Kornhillschurch and called Kornhill. The owners of the property wanted to learn more about potentials for installation of solar panels on the property, therefore we described different types of solar cells and solar cells essential function to generate electricity in the report. Different factors that are limiting the generated energy are mentioned.An investigation of the property?s potential has been made in order to consider different designs. When sites that were considered suitable for solar cells were selected, different design options were made, one for each site.

The purpose of this study has been to examine how female probation officers construct the concept of women who commit crime. This have been done by examining how the probation officers describe the phenomenon from their own point of view, how they perceive society's view of the phenomenon, how they describe the women's self-images and how their own perceptions affect the treatment of these women. To fulfill this aim the study is based on qualitative interviews with five female probation officers. We analyzed their statements by using Gender theory, Goffmans stigma term and Beckers deviant term. The result of this study shows that women who commit crime are described more as victims than offenders and that they are constructed as deviant in two ways; both in relation to the law but also in relation to their gender.

The aim of this study was to investigate how counselors who work at youth clinics relate to the question of the integrity of adolescents who are under 18 years old in relation to the parents rights to information. The study was based on semi-structured interviews with eight counselors from youth clinics in the StockholmCounty. We have analyzed our empirical material by categorizing the statements from the counselors and by using two different theories. The first one is a consequential ethics theory and the second one is a cognitive theory. These two theories have helped us to understand the thoughts and actions of the counselors.