Problem formulation: This paper will examine how the capital structure of firms affects their market valuation by applying the Modigliani-Miller theory on Swedish listed companies in a boom and a recession. The study will examine whether it is possible to draw any conclusions as to whether companies with high debt to equity ratios are valued lower in a recession, in comparison to companies with low debt to equity ratios.Purpose: To empirically test the Modigliani-Miller theory of capital structure in a boom and a recession in order to see if the companies? market value is affected differently depending on whether they have a high or a low debt to equity ratios.Methodology: The essay has a deductive and a quantitative methodological approach. Data analysis was done through a correlation analysis, a regression analysis and a hypothesis testing.Theory: The Modigliani-Miller theory of capital structure with taxes states that companies with a high debt to equity ratios has a higher value. One of the risks with a high level of debt could be that during a financial downturn companies have more difficulty realizing capital and are thus more likely to go bankrupt.Conclusions: The study shows results that are contrary to the Modigliani-Miller's theory; all the correlation analyses between debt to equity ratios and market value are negative.

In this thesis the subject innovation and the change of meaning is in focus. The purpose of the study is to present a new dimension of innovation as a change of meaning together with the cases we?ve studied. It is discussed throughout the article if theories of perception and association can affect the organization and its ability to create meaning-changing innovations. The industrial robotics is a market in need of, perhaps, if not other markets but of finding new ground that results in the change of meaning.

Durban, South Africa?s third-largest city is a socially segregated post apartheid society, struggling with high unemployment and AIDS. The city becomes even more complex with a changing climate, creating an influx of people to the city, putting scarce resources under further stress. Warwick Junction, an important transport hub in the centre of Durban, holds a large site of informal trading alongside the formal markets. This informal sector generates large financial flows and provides for a rapidly growing population. The aim of this thesis is to develop an approach that is realistic and relevant to planning and design of an urban context in South Africa.

The Swedish government published their current proposition concerning cultural politics,Tid för kultur in 2009. Due to this proposition, culture is considered a basic human right we all deserve to be provided with. It contained goals and guidelines for how to enable culture to all citizens, to integrate and enrich the state, the county councils? and municipalities? work with diversity and multi culture in their culture-based institutes. However, there seems to be a lack of strategies in the issue of how to provide our nondependent elderly, suffering age related handicaps and diseases, with this proclaimed necessity.In recent years, there has been a lot of research proving the link between human wellbeing and a stimulating environment.

The Swedish government published their current proposition concerning cultural politics,Tid för kultur in 2009. Due to this proposition, culture is considered a basic human right we all deserve to be provided with. It contained goals and guidelines for how to enable culture to all citizens, to integrate and enrich the state, the county councils? and municipalities? work with diversity and multi culture in their culture-based institutes. However, there seems to be a lack of strategies in the issue of how to provide our nondependent elderly, suffering age related handicaps and diseases, with this proclaimed necessity.In recent years, there has been a lot of research proving the link between human wellbeing and a stimulating environment.

This study is about a social workers? knowledge of shame. Shame in this context is the embarrassment and humiliation that many people feel when they have to apply for financial assistance which equates to approximately half a million people each year in Sweden. The aim of this study is to understand if and how social workers in this field become acquainted with shame, and how it is exposed and then handled by the social workers in the meeting and work with clients. In order to achieve the purpose of the study, we also to some extent, need to study knowledge and how social workers obtain knowledge in social work.

In the beginning of the 21th century several successful companies filed for bankruptcy. These bankruptcies have been known as large accounting scandals and the largest scandals did Enron and Worldcom stand for. These bankruptcies arose without any warning signal from the auditors about the companies? financial problems and their inability to continue as a going concern. The bankruptcies damaged the reputation of auditors and broad criticism has developed at the auditors? inability to discover companies? financial problems and their unwillingness to reveal a going concern opinion in the audit report.

A more complex and turbulent world market puts pressure on flexibility and the ability to adjust its business to the market changes. The rapid and unpredictable change is hade to analyze and forecast which demands more short-term forecasting. The issue for this dissertation is based upon the demand of more flexible ways of doing business in the bank sector in Sweden, which is a turbulent and unpredictable market. Handelsbanken is a company that uses the so called Beyond budgeting concept and the dissertation is about this company?s ability to solve the economic governance without the traditional budgeting process.

Investment in hedge funds is a relatively new phenomenon for investors compared with other forms of savings. In recent years, the interest has increased among investors in investing their money in hedge funds, given the protection against declines in the market they are aiming for. Their main purpose is to generate a high return at a low risk regardless of market trends. This they can achieve by having fewer restrictions that offer more flexible investment strategies and freer investment opportunities.The purpose of this paper is to identify how the selected hedge fund strategies have performed during the recent economic downturn. We also want to clarify the claim that hedge funds exhibit a positive absolute return regardless of what the market is performing.In order to answer the purpose of the essay and its problems, we have used a quantitative method with a deductive approach in the processing of data.

Upplevelserummet blir alltmer viktigare. Tidigare undersökningar om upplevelserummet har enbart fokuserats på de fysiska faktorerna. Men vad som även behöver undersökas är vilka faktorer utöver de fysiska som kan påverka en människas uppfattning om upplevelserummet och beteendet. Vårt syfte är att undersöka vilka faktorer som främst påverkar samt hur dessa påverkar kundens kvalitetsuppfattning av upplevelserummet..

The Swedish commercial real estate market is in the current situation globally affected and is actively interacting with the rental and capital markets through international tenants and investors who are setting new demands on the property owners. The European Union has set new requirements as well in purpose of reducing humanity?s negative effect on the climate and therefore the international real estate market has introduced Green Building-certificates in order to decrease the real estate industry?s environmental impact.Certificated buildings with low energy consumption are a more common sight in Sweden these days. The development, however, could go even faster if there was not certain difficulties between property owners and tenants. Previous research has revealed that tenants do not always have knowledge about, or may have access to the economic benefits that a green building can provide.

Purpose: When the Deepwater Horizon oilrig in the Gulf of Mexico faced disaster in late April 2010, news coverage immediately began of the disaster that would unfold. BP took the blame and its financial resources were strained as it struggled with stopping the oil leak, cleanup work as well as its PR image. While the US took many blows of the consequences to ecosystem and tourism, financial consequences swept across the world, mainly Britain, where BP had its headquarters.The event gives an excellent chance at comparing the media coverage from both the US and Britain. By studying The Daily Telegraph and The New York Times, we want to see both similarities and differences in the themes they focused on as well as seeing trends in the themes over time.Theories: The theory chapter is heavily based around the Agenda-setting theory in the media communication field.Methodology: A quantitative content analysis (QCA) of some 500 news articles in The Daily Telegraph and The New York Times from April 22 to July 15. The QCA was made to find the main theme of articles to give us data on how many articles of each theme, as well as their distribution over time.

This paper treats the differences in terms of insurance between optional and compulsory third party liability insurances. It also treats the purpose of the compulsory third party liability insurances and their accordance with that purpose. The primary purpose of the optional third party liability insurance is to ensure the policyholder financial resources to cover possible claims for damages. The primary purpose of the compulsory third party liability insurance is to render possible the compensation of a third party for damage done. The policyholders financial ability to pay damages is of subordinate interest, and the purpose of compulsory third party liability insurances is thus twofold.

Background: Operating on the stock market is associated with risks. If a particular asset is not traded with the same frequency as the average market asset, this particular asset is exposed to a liquidity risk. It means that the investor might not be able to sell the asset at a desired time without incurring expensive transaction costs. The query is whether or not the investor is compensated with a liquidity premium for bearing the extra risk. Earlier studies on the Stockholm Stock Exchange have failed to prove that there is a relation between stock return and liquidity.

Many times it can be the simple things that affect the attitude of work and which have an importance on the organization's effectiveness. These are not always apparent but can have a large importance for the motivation and the attitude of work. Large number of companies uses wage and other financial rewards system but is there any form of informal factors that have an importance for the coworkers and that affects motivation. What factors that affect the motivation within the industry are interesting to examine and specifically the factors that are not apparent, in other words informal factors that increases the motivation. The purpose of this thesis is to examine and describe which informal motivator factors co-workers/employees in a production department think are meaningful.