On Nasdaq OMX Nordic Stockholm there has been a large increase in issues of preferred stocks since the financial crisis 2008. Aiming to explain whether preferred stocks have most of their characteristics relating to debt or equity, we answer four sub questions. Do all preferred stocks share the same features, or do they differ from each other? Our population is similar in characteristics, except for the preferred stock of Swedbank which is convertible and deviates when it comes to participation in dividends - instead of convertible the others are limited and redeemable. Further, the second sub question treats preferred stock in relation to the common stock quantitatively, in market data.

SammanfattningMiFID, direktiv om marknader för finansiella instrument är ett nytt europeiskt regelverk för den finansiella sektorn som träder i kraft den 1: a november 2007. Direktivet syftar till att förstärka konkurrenskraften för den finansiella sektorn, förbättra konsumentskyddet samt inkludera hela utbudet av finansiella tjänster och produkter. Då MiFID: s införlivande i svenska lag försenades fick de svenska värdepappersföretagen under 2007 en relativt kort tidsperiod på sig att anpassa sina verksamheter till de nya bestämmelserna. Syftet med denna uppsats är att undersöka vilka svårigheter tre svenska värdepappersföretag erfarit vid arbetet med att anpassa deras verksamheter till de nya bestämmelserna i MiFID. Vi har studerat direktivet och jämfört med nuvarande regleringar samt genomfört fyra intervjuer, varav tre med svenska värdepappersföretag av varierande storlek.

The aim of this thesis is to investigate which the main determinants of capital structure in Swedish listed firms are and to identify which incentives lies behind managers choice of capital structure determinants. Further, the study investigates whether the Post Keynesian theory and theories which incorporate behavioral aspects can be used to explain the capital structure decisions or if the traditional Neoclassical theory give an better explanation. We have used a qualitative method to analyze the determinants of capital structure and the managers incentives behind capital structure decision. We conducted a survey which was sent to 83 Chief Financial Managers and financial executives in Swedish firms listed on Mid Cap or Large Cap. The questionnaire was on-line which enabled for the respondents to quickly and convenient respond.

This study aims to describe how active guidance counselors can look at the guidance of unaccompanied refugee children by using their experience. The study will focus on advice and the study is based on a qualitative approach in which interviews were conducted with seven guidance counselors. The result shows that there are major differences in how the interviewee?s approach guidance of newly arrived unaccompanied refugee children. There are differences both in terms of the experience of advising newly arrived unaccompanied refugees and in how their role is designed.Also shown are also some similarities; guidance and counseling with newly arrived unaccompanied refugee is described as difficult.

The survey describes a number of risks that Swedish farming companies are exposed to. The risk areas covered by the survey are currency risks, price risks and financial risks. The survey further describes why these risks have a great impact on the future development of the farming companies. The survey highlights the interrelation between the risks and the measures which can be used to minimize the risks, so-called financial instruments. The aim of the survey is to put focus on above mentioned risks and describe how these risks can be reduced to prevent the Swedish farming industry from stagnating in the future. The survey is a secondary survey whereby existing knowledge about risks and risk management is applied to farming companies. The written information on price risks and hedging is primarily derived from foreign sources.

The first commercially produced wind turbines in Sweden are starting to reach theend of their lifetime after approximately 25 years of producing energy. The cost fordismantling the turbines, according to Ardefors et al. (2009), is calculated to be 1-2 %of the total investment of the wind turbines. The purpose of this master thesis is tomap the dismantling process of wind turbines in Sweden and try to find a sustainablesolution for the future.To make sure that a correct dismantling process takes place, and that the financialaspect is covered, a proposal for a financial guarantee is worked upon. A nationalunanimity will be created through a financial guarantee and the risk will be minimalof a third party getting afflicted.Studies of literature and interviews have been carried out.

Currently there is a controversial debate about that we must reduce our impact on the global warming; therefore both the Government and the local authorities have invested heavily in developing renewable energy in Sweden. The major development on the wind power market can be seen as a result of both the technological development and also on the decision that the Government took in 1996, which opened up the wind power market for private parties.This paper has aimed to examine the types of financial innovations that have arisen from the investments and financing of wind power on Gotland, and what these innovations can contribute to the future development of wind power.The problems that this thesis is based on is; what kind of financial innovations have occurred within investment and financing of wind power? How can these innovations contribute to the continued development of wind power on Gotland? The conclusion of this study shows that respondents and participants have defined a number of financial innovations that have emerged. Where some of the innovations only can be seen as incremental since they are based on continuous improvements, while others can be seen as radical as they are completely new for the context in which they operate. The study has also shown that Gotland has a great potential to produce more renewable electricity, but the development is dependent on the new power lines being built, in order to export electricity to the mainland..

Research issue: The transition from Basel II to Basel III becomes consuming for banks, financially. But Basel III should be profitably for financial market economy. Risks in the financial world is very complex. Is Basel III is sufficient to manage risk and future crisesPurpose: The purpose of this paper is to examine the application of Basel II and the transition to Basel III in Sweden with the banking system in focus.Method: The study has a qualitative research methodology for the collection of empirical data. The study is based on interviews with four large banks of Sweden (Swedbank, SEB, Nordea, Handelsbanken) and with Finansinspektionen.

There are over 100 banks in Sweden. Yet, most people tend to choose one of the top four banks and stay with them. Times are changing, however, and the growth of online-based self service solutions has increased the importance of attracting and retaining customers at an early age. SEB and Swedbank have addressed this issue by introducing bank bundles. Since most banks offer similar services, the packaging and framing of the bundles have become increasingly important.

The purpose of this paper is to view Karlstad Municipality and their financial support to non-profit organizations within equestrian sports. Despite the varying representatives of various equestrian sports in Karlstad, there seems to be a single beneficiary within the sport when it comes to financial support from the municipality. The policies and plans concerning cultural development are directly compared to the Karlstad Municipality and its contribution to these organizations within equestrian sports. Through interviews and reports I have studied the process of financial support from the Karlstad municipality using an intersectionality theory based on Nina Lykkes guide on gender studies and feminist theory. Pierre Bourdieu?s theories on field, habitus and capital are also used as a method to enhance the understanding of equestrian sports and its role in modern Swedish society. The conclusion is that the Karlstad Municipality is, for a several of reasons, promoting non-profit organizations within equestrian sports, which are operating as riding schools.

Practitioners of financial statement analysis are dependent on key ratios in a multiple number of situations, one in particular being equity valuation. A lack of historical benchmarks, and knowledge regarding the time series behaviour of such ratios, has been identified regarding Swedish companies. Therefore, this study sets out to provide such data and knowledge. Companies listed on the Stockholm Stock Exchange are examined over the period 1979-2009 where the sample is divided into nine industry groups. Historical values for eight common key ratios are documented with regards to median, mean, standard deviation and percentiles.

AbstractAccording to several researchers finance is scarce, scarcer for small businesses than for big enterprises. Small and medium-sized enterprises, SMEs, that want to start exporting and sales or manufacturing abroad need capital to get ready. Which capital structure and financial costs do they have, and which forms of finance do they actually use for that purpose. New american research by Mansi, Reeb (2002) has suggested, that there is a positive connection between leverage and a negative one between financial costs and internationalization, and that a non-linear model better describes this connection.This study has gathered data in two ways: Through a questionnaire from 37 SMEs and balance sheet figures from totally 166 manufacturing SMEs. In order to examine, whether the company was active on the international market, 200 SMEs in south Sweden were asked, if they exported to, produced or sold on any other market than their home market.

Women ledaers and profitability, is there a correlation? Earlier research show different outcome on the correlation between women leaders and profitability. A Swedish consultant firm, Caran has a belief that more women leaders would create more financial profit, we ask us if that is the true situation. Using two different IC measurement methods we have shown the difficulties in calculate intagible resources, which methods that can/ can not be used and if women leders create financial value. We found the women leaders in Caran to add more value per dollar spent on the woman leaders than the value added per dollar spent on men leaders.

The Swedish business cycle is in a strong position at the moment, leading to great results and larger profits. This strong business posture has encouraged companies to increase both their liquidity and revenue. Now there is a dilemma, what actions should or could a respectable business take on these newfound liquid assets.The purpose of this paper is to deliver a clear picture of what options there are for such companies listed on the Swedish stock-market, and how the market wants them to act. To these means we have studied the basic theories linked to this subject and reviewed the cause and effects that motivates them. We have also conducted interviews with the people representing the market through their line of business.In the theory we found several options on what companies in similar situations tend to do.

The purpose of this paper is to find out which portfolio theory one should use during a financial crisis. We will examine two different portfolio theorys, the Minimum Variance portfolio and the beta portfolio.We have chosen to study two different portfolios, and followed their development during the financial crisis with its start in 2008 and the IT bubble with its start in the middle of 2000.The data has been collected from OMX internet database making it quantitative study. The beta portfolio's objective is to follow the index and the Minumim Variance portfolio´s objective is to spread the risk by investing in stocks with low volatility. By following the two different portfolios, and compare the development to the index, we will be able to determine which theory is most suitable to use during a recession. The studyperiods we chose were both in a recession and it turned out that the most appropriate portfolio to use was the Minimum Variance portfolio because stock in this portfolio tends to be less sensitive to economic fluctuations..