Title: Valuing Real Estate FCFE and interest coverage under macroeconomic uncertainty with scenario analysisAuthors: Marcus Ewerstrand, Jakob MattssonAdvisor: Gert SandahlBackground and problem: After the collapse in the Swedish economy in the beginning of the 1990-ties, the company Secerum was launched. Securums objective was to handle unsecured credits from Nordbanken by transferring a large portfolio of properties and to setup a number of companies who would be in charge for the prospects of these assets. One company that was established during this remarkable period was Castellum, in the year of 1994. After a successful process of raising capital to its development of corporate strategies and formation of several affiliated companies which operates locally, Castellum was publish on the Stockholm stock exchange 1997/1998. Now, thirteen years later after its establishment, the credit crunch in the US.

Capital structure is without doubt one of the most frequently studied and controversial areas of modern financial theory, and will certainly continue to receive considerable attention from researchers worldwide. There is still no universal explanation of how an optimal capital structure would be designed for maximum appreciation, despite the development of several theories focusing on the subject. Equity and debt are the two main financing options that in combination explain the business's capital structure. The results of several research studies conducted in the subject has many times pointed out that there are specific factors that are directly related to the company's capital structure, and that there are clear sectoral differences in corporate debt. A study of the capital structure is considered important and interesting to implement due to the reasons above and the purpose of this study is to analyze and try to explain the similarities and differences between different industries in terms of how growth, profitability and size affect the debt level.

Traditions are something that is very important to many people, Christmas is usually no exception. Christmas tree, Christmas ham, herring and candle lights are just as important as the advent candlestick. The advent candlestick help you get the Christmas feeling during the countdown. In this report the work with a new advent candlestick concept can be followed step by step.A lot of information was needed in the beginning. By doing some research, surveys and interviews the ground was established for further work.

Intramuscular injections to cats can generate strong reactions in some individuals while reactions of the same extent, according to the author, not always are recognized when using the subcutaneous route. The reactions are probably caused by fear, stress and/or pain. When the injection can generate pain one has to take that into account, which can be a limitation in treatment. It is well known that injections generate pain, but knowledge about the cause and processes of the injection-associated pain is limited. This is mainly due to the difficulty in finding objects to study pain on, high cost of use of laboratory animals and difficulty to obtain objective measurements. Although there is evidence that there may be a local muscle injury by intramuscular injection, it is not always that the extent of damage is related to the pain experienced. Facts about the causes of injection-associated pain have been studied in a literature review.

SummaryThe purpose of this thesis is to examine what effect the IFRS 2 has on earnings, equity, financial strength and return on equity for listed Swedish companies with active stock option plans. The purpose is further to investigate the companies? attitudes towards IFRS 2 and to find out if companies tend to deviate from stock option plans due to the changed accounting rules. We also want to examine the view of IFRS 2 from an auditor?s perspective.We have used a deductive approach and a mix of quantitative and qualitative research methods with a view to get a completely clear picture within the field of study.

Financial Action Task Force (FATF) är det främsta internationella organ som verkar i kampen mot penningtvätt, i syfte att utveckla och förbättra de nationella systemen, stärka ett lands finansiella säkerhet och stärka det internationella samarbetet. FATF`s rekommendationer, liksom dess ömsesidiga utvärderingsprogram, är så kraftfullt att de anses som en "gyllene standard" beträffande penningtvätt.Syftet med uppsatsen är att kartlägga hur Sverige som medlemsland uppfyller efterlevnaden av FATF?s rekommendationer i granskningschecklistan, med särskild tonvikt på kundkännedomskraven, i jämförelse med FATF?s andra medlemsländer. Undersökningen baseras på FATF?s 34 medlemsländers ömsesidiga utvärderingsrapport, som vi bearbetar genom en kvantitativ undersökningsmetod.Studiens resultat visar att medlemsländernas genomsnittliga efterlevnadsnivå av samtliga rekommendationer är 53,3 %.

Problem and purpose: The authors were interested in studying how large Swedish banks managed liquidity risks when facing the financial crisis of 2008 and whether the implementation of Basel II framework had an impact on the major Swedish banks' capital adequacy. Furthermore, the authors intend to examine how, based on the analysis of the implementation of Basel II, the introduction of Basel III will affect major Swedish banks' liquidity in the future.Method: The essay is written from a quantitative approach and has a deductive perspective. Data was collected from the annual reports of the selected banks to later use relevant theories to analyze the work.Theory: This part of the essay presents relevant theories, a detailed description of the Basel regulatory framework and its requirements, rules for capital adequacy and to relevant key to achieve the Basel regulatory requirements are considered. Furthermore the authors present criticism of the Basel framework and a summary of the key theoretical points to be used for analyzing empirical data.Empirical: In this chapter the data collected from selected banks is presented and processed.Conclusion: The essay authors present the deficiencies and weaknesses that make the Basel II regulatory framework inadequate for the Swedish financial market. Essay authors also present their opinions regarding how the latest form of the Basel regulations could have a more significant influence on the long-term stability of Swedish banks and how this may increase protection against potential liquidity risks..

Detta examensarbete genomfördes våren 2013 på Karlstads universitet där TD Rail & Industry i Västerås stod som uppdragsgivare. Projektet innefattade att kartlägga nuvarande omlastningslösningar av enhetslaster mellan järnvägstransporter och vägtransporter, och utarbeta en konceptuell omlastningslösning med fokus på att öka järnvägstransporternas flexibilitet gentemot vägtransporterna. Där vikten lades på att utarbeta ett välarbetat helhetskoncept.Projektet genomfördes med designprocessen som grund och innehöll bland annat momenten; förstudie, kravspecificering, idégenerering, konceptval m.m.Resultatet blev en vidareutveckling av det redan befintliga systemet CCT som bygger på horisontell överföringsteknik och möjliggör därför omlastning av enhetslaster direkt under kontaktledning. Skillnaden mellan RES och CCT är att man tagit bort ombyggnationen av tågvagn och lastbilschassi, som var en av CCTs stora svagheter, genom två hydrauliska ?teknikplattor?.

Background: In 1998 it was stated that Swedish municipalities would report the pension liabilities according to the mixed model where the pension liabilities before 1998 was moved from the balance sheet. The mixed model has been criticized by economists for not showing the total pension liabilities. To remove some of the liabilities in the municipalities balance sheets means that the solvency improves. Some municipalities have decided to go against the municipal accounting law and recognize all of the pension liability as a liability according to the full funding model. When two accounting models are being used the comparison of the municipalities' financial statements is much harder.Purpose: The main purpose of this study was to study the reason why some municipalities apply full funding model rather than the mixed model.

This bachelor thesis contains the findings of an investigation into the laying of wedge sawn wood flooring. The advantage of wedge sawn wood flooring is the usage of more material from each board reducing waste. The boards follow the natural profile of the tree where the root part of the board is wider, and the top part is narrower. The technique involves placing boards side by side with adjacent boards in opposite directions. The thick base of one board is neighbored by the narrow top of another, this creates a pattern of wedges in alternating directions, known as a ?root and top? system. Existing literature into this type of flooring is sparce.

Through previous studies during my education, I have experienced that chemical deicing road salt is a known problem, mainly in southern Sweden. Road salt causes damage to the environment and also damage to vehicles and structures such as bridges, etc. Road salt causes vehicles and steel constructions to rust, leading to increased costs for repairs of damage to structures. Road salt also causes damage to the plants and the economy to suffer, when plant material and soil needs to be replaced. In order to get closer to a solution, I put up three questions.

Animal welfare is of increasing concern in present society. In commercial pig farming, animal welfare problems are common. One of the causes for these problems is the barren environment in which pigs are housed, which can cause oral manipulation of pen mates. Providing straw might be one solution to this problem. Another solution could be reached through genetic selection.

Right now a major generational change is taking place within the banking sector. The new generation entering the labor market is often referred to as generation Y and it consists of individuals born between 1980 and 1995. Previous research has shown that the banking industry as a whole put a widespread emphasis on monetary incentives within the reward system. At the same time several studies highlight that individuals from generation Y are rather motivated by primarily non-monetary incentives.The aim of this dissertation is to explain how various monetary and non-monetary incentives affect the motivation of bank employees from generation Y. A positivistic research philosophy has been used with a deductive approach and a quantitative research method.This study indicates that bank employees from generation Y are motivated by retirement savings as well as a personal mentor or chief who draws attention to their development.

The financial crisis in the beginning of the 1990´s the financial crisis had a strong impact on the Swedish economy. Some of the main actors in the crisis were the largest banks of Sweden which brought a huge amount of losses on themselves. One of the main reasons for this was that the banks focused on volume increases rather than on credit losses. The credit analysis process is performed differently these days and it is the development of this process that is the focus for the authors.This thesis is about the credit analysis process in the four largest banks of Sweden. The purpose of the thesis is to highlight which factors the banks include in the credit analysis process and in how small and medium size companies are treated in this process.

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.