Bakgrund: Det rådande pensionssystemet i Sverige består av sex så kallade AP-fonder. Genom åren har pensionssystemet flertalet gånger kritiserats för dess låga avkastning.Problem: Vår huvudfråga är att jämföra AP-fondernas risk och avkastning med aktiemarknaden som helhet, detta ska ske med hjälp av två jämförelseindex: MSCI World och SIXRX.Syfte: Syftet med uppsatsen är att jämföra de fyra första AP-fondernas risk och avkastning med aktiemarknaden som helhet under åren 2002-2010.Metod: Vi har använt oss av en kvantitativ metod, genom att samla in information från AP-fondernas årsredovisningar och hemsidor. Vi har samlat in historisk data, som vi sedan har bearbetat och analyserat.Slutsats: De studerade AP-fonderna har presterat sämre än aktiemarknaden..

Common wisdom dictates that because payment of dividends decreases funds available for investment, a high payout ratio is to be associated with low earnings growth. This notion has been challenged in recent years by empirical research that has found a positive relationship between payout ratio and future earnings growth, both on the aggregated market level and the company level in different countries. This study investigated the aforementioned relationship on the Swedish market by statistically analyzing future earnings growth as a function of payout ratio on a large sample of publicly listed companies over the period 1980 to 2011. The results are in line with those found in previous research and indicate that companies with high dividend payout ratio tend to experience strong future earnings growth. The results are robust to the presence of mean reversion, the use of an alternative accounting measure of earnings, non-symmetrical earnings growth cycles and alternative practices for dealing with outliers..

The aim of this essay is to study the development of democracy in the Halland province, with focus on participating measures. First and foremost to test earlier research about the causes of the development of democracy, which says that the work takes place with obvious variation between the municipalities and that it is caused by economic resources and experienced problems in the democracy. The purpose is also to conduct a general discussion about the conditions and effects of the development.Thus the method can be characterised as theory consuming because I as far as possible assume the method that has been used in earlier research. Still, my study is limited to the six municipalities of the Halland province and is therefore a study of few cases. One person in each municipality has been interviewed in order to collect a list of all the measures that have been carried out.

This study examines regional integration in Africa with a focus on the Common Market for Eastern and Southern Africa, COMESA. COMESA, with roots that go back to the beginning of the 1980?s, is one of the largest and most diverse areas for regional integration in Africa and has currently 19 member countries. The goal of the COMESA co-operation is to become a fully integrated area by the year 2025 that will merge into the African Union (AU). AU will then, in turn, create a fully integrated African continent in a not too far away future.

This study examines how farmers certified by KRAV face proposed regulations on organic soils put forward by KRAV economic association among others, and how they are affected economically. These soils are, from an environmental perspective, interesting as a target for production regulations as they cause greenhouse gas emissions through decomposition of organic material when cultivated. The regulations advocate that organic soils should be grown with pasture where soil cultivation is only allowed every fith year which implies that possible adjustments of cultivation have to be made in order to fulfill the regualtions. Collection of data have been made through a questionnaire sent out to 574 farmers certified by KRAV. The answers have been analysed using a decision making model and statistical findings suggest that proportion of organic soils, type of production, economic conditions and farmers? goals and values have an influence on whether the regulations and potential cultivation adjustments have been considered or not.

AbstractToday there is an opportunity to reinforce concrete with steel fiber reinforcement. In some cases, completely replace the conventional reinforcement. Replacing conventional mesh reinforcement with steel fiber reinforcement in slabs on ground has shown economic benefits, less crack width and less reinforcement amount.Today there are no Swedish standard for designing steel fiber reinforced concrete, what is there is different international recommendations.In this work, design methods for steel fiber concrete are used according to RILEM and Bekaer Swedish AB's software DRAPRO. For other design methods Eurokod 2 is followed.In this work, the design of slabs on ground that are not exposed by large tension strength been designed. Design of crack-reinforcement and restrictions of crack width have been conducted in three different slabs on ground.The calculations have been performed using only conventional reinforcement and only steel fiber reinforcement, and the results are then compared.The results of the theoretical analysis are summarized in tables that compare the amount of reinforcement, crack width and economic cost.This work showed that the slabs on the ground reinforced with steel fibers provide less crack width with a minor amount of reinforcement.

Denna uppsats är skriven inom det nationalekonomiska fältet kulturekonomi och behandlar faktorer som påverkar antalet museibesökare och konsekvenserna av införandet av fri entré. År 2005 genomfördes en reform som medförde att ett flertal statliga museer införde fri entré (vissa museer redan våren 2004). Eftersom inträdesavgifter är en faktor som styrande lyfter fram som en viktig förklarande faktor till antalet och sammansättningen av museibesökare har frientréreformen och dess samhällsekonomiska konsekvenser en central roll i uppsatsen. Utifrån ett datamaterial från Kulturrådet och Statistiska Centralbyrån genomförs två multipla linjära regressioner, en per år samt en över tiden. I dessa regressioner testas olika förklarande variabler som kan tänkas ha en påverkan på antalet museibesökare.

This essay aims to map the ideas behind the Swedish cultural reform called Kultursamverkansmodellen, and how the ideas are forming a discourse. Furthermore it examines the social praxis on the three levels that constitutes the model. The three levels are the state, the region and culture creators/civil society. This is a qualitative study based on primary and secondary sources collected on the three levels. The theoretical frame of reference is based on institutional theory, on Michel Foucault?s lecture on The Discourse of Language, and on New Public Management.

Since the beginning of the twenty-first century, China has captivated global attention due to its astonishing economic growth. This development has resulted in an enormous growth in foreign direct investments, as well as the country?s new role aseconomic super power. When joining the World Trade Organization in 2001, China agreed to adhere to the minimum requirements of the organization?s several multilateral agreements.

Denna uppsats undersöker effekterna av första generationens biobränslen, såsom bioetanol och biodiesel, på jordbruksprodukters prisnivåer både inom länder och internationellt ? samt dessa prisers vidare påverkan på svält i utvecklingsländer. En enkel sektormodell för utbud och efterfrågan, uppdelad i tre delmarknader, utnyttjas först för att illustrera och förklara biobränslens grundläggande kvalitativa priseffekter på jordbruksmarknader. Andra forskningsstudiers och modellers kvantitativa uppskattningar av samma skeenden granskas och vidareutvecklas. Den relativa andel hos senare tids prisstegringar (den så kallade ?matkrisen?), vilken kan tillskrivas biobränslens effekter, skattas med försiktighet: min uppskattning blir att i storleksordningen 10 procent av de samtida prisökningarna beror på biobränslen, med viss variation för enskilda produkter.

In efforts to strengthen local economies, business development programs are often a way in which governmental organizations and state affiliates try to facilitate innovation and successful entrepreneurship. There is a mutual interest from both the public and private sector that these funds are put to good use. Extensive research has been conducted with the focus of the general effect of public support programs. However, not much research has been done on what external factors affect the situation for receiving businesses. This study attempts to examine whether one specific such factor, the level of maturity on the markets that the recipients operate in, has a discernible effect on the needs for different types of entrepreneurial support.

Because of the increasing numbers of international tourist arrivals each year it is essential that tourist operators are aware of the impacts that tourism generate. Tourism affects the world in an environmental, social and economic way, positive but also in a negative way. To travel responsible and sustainable is therefore important, and operators have a responsibility in this subject.Because of this I wanted to look at how Swedish tourist operators manage responsible tourism, together with what amount of information their customers receive about this. To be able to study how operators work with this I conducted three interviews via email. The tourist operators were of different sizes and specializations to receive a more extensive result.

Utländska direktinvesteringar har ökat markant de senaste 10 åren, en utveckling som påverkar det dagliga livet för allt fler människor då företagens investeringar ger upphov till såväl nya blomstrande orter som nya ödebygder. Denna uppsats syftar till att på företagsnivå undersöka vad som påverkar val av geografisk plats för direktinvesteringar utomlands. I undersökningen har de faktorer som lyfts fram av den nya handelsteorin samt ekonomisk geografi undersökts. Dessa faktorer är tullar och andra handelshinder, transportkostnader, agglomerationseffekter, närhet till och storlek på marknader, positiva externaliteter samt skalfördelar. Hur viktiga dessa anledningar är har i denna uppsats undersökts genom en kvalitativ enkätmetod, där företagen själva har svarat på i vilken grad varje enskild anledning påverkat investeringsbeslutet.

Problem Discussion: Today the banks manage three central products: mutual funds, mortgages and bank accounts. Banks have authority and credibility, the services and the products they offer and sell can sometimes be difficult to understand. Customers are offered a large number of investment options with varying risk profiles. These developments have created an increasing need for knowledge and information among customers. The financial advice that the financial firms provides, remains a very important activity from a customer view.

The purpose of this study is to incrementally, through a combination of various methods, examine the assumptions about the working economic outcomes that can be made based on planned ergonomic intervention in a department at Pfizer Health AB in Strängnäs. The study contributes to knowledge about how assumptions on OSH financial results can be made, based on planned ergonomic interventions. These assumptions were based on biomechanical calculations made on the basis of ergonomics measurements with inclinometer. The study is important because previous research has shown that poor work environment have a bad impact on the economy of a company in different ways. It can for example be negative impact on the company's productivity and quality of the units produced or the services provided.