Title: The appraiser?s choice of valuation method ? factors that influences the choice of company valuation methodsSeminar date: 04/06/07Course: Master thesis in Business Administration, 10 Swedish credits.Authors: Anne Benedicks and Veronica ÖbergAdvisor: Eron OxingProfession of category: Financial analysts, auditors and company lawyers.Key words: Company valuation, valuation methods, cash Flow analysis, comparative valuation, the net asset value method.The Main Issue: What is of decisive importance when choosing a special company valuation method?Purpose: The purpose of this paper is to identify, analyse and evaluate the most common methods of valuation for financial analysts, auditors and company lawyers and those factors that influences the choice of method.Method: A multiple survey has been implemented for the actual profession categories. Primary data was collected through semi-structured interviews and a questionnaire survey.Theoretical: The theoretical frame of reference is based upon the paper?s dependent variable, i.e. the role of the appraiser.

Problem: Is the free cash flow a value relevant accounting measure in relation to the Swedish stock market?Objective: The aim is that by using an investment strategy to examine whether the free cash flow is an accounting measure that could be perceived as value relevant in relation to the Swedish stock market.Method: The paper is based on a quantitative survey of empirical evidence that has been collected from companies listed on the Large and Mid-Cap lists of the Swedish stock market.Theoretical Frame of reference: value relevance, cash flow, portfolio theory, drive theoryResults: It was concluded that the study results conform to the Finnish survey results. The portfolio shows higher returns than the OMX index..

Denna reflexiva rapport undersöker processen att utveckla ett implementationsförslag för ett användargränssnitt till ett spel som ska lära ut riskhantering till körskoleelever. Den reflexiva rapporten genomför också en analys av användargränssnittet och innehåller därför en kort genomgång av riktlinjer och gränssnittsprinciper från människa-datorinteraktion (MDI) samt teorin om Flow. Den reflexiva rapporten avslutas med en utvärdering av arbetsprocessen och lärdomar kring arbetet. Slutsatsen som dras är att riktlinjer och principer från MDI samt Flow inte alltid kan appliceras på ett gränssnitt i ett sådant tidigt utvecklingsskede men en designer kan fortfarande få mycket användbara reslutat av att göra en analys..

Syftet med detta arbete är att undersöka hur olika implementeringar av Juuls uppdelning av bestraffningstyper kan påverka möjligheten för spelare att hamna i tillståndet som Csikszentmihalyi identifierade som flow. För att undersöka påverkan av olika bestraffningstyper på spelares upplevelse skapades tre olika versioner av ett plattformsspel med olika implementationer av bestraffningstyper baserade på Juuls uppdelning av bestraffningstyper. Ett antal respondenter fick spela alla tre versioner för att därefter, via semi-strukturerade intervjuer, försöka förmedla hur deras upplevelse varierade från en version till en annan. Undersökningsdeltagarna observerades under spelning för att försöka fånga spår av flow-tillståndet i deras kroppsspråk. Även deras prestation i varje spelsession lagrades för att möjliggöra en jämförelse av spelversionerna.

Flow measurement is one of the greatest challenges in order to calculate efficiency in hydropower. Most hydropower plants in Sweden use differential pressure methods for flow measurement. These methods are dependent on constant conditions in the waterways. A change in these conditions, like turbine improvements, prevents differential pressure methods to verify efficiency improvements. Since efficiency improvements can?t be verified by one measurement system, another method, which isn?t affected by changing conditions, can be used.

  iiiAbstract?We are living in a time of project. Everything becomes project. All development, all efficient,all changes are running as project?.

Introduction: Analysts worldwide valuates stocks and companies by using different valuation models. The models are used to calculate how much public company?s stocks are worth and to identify whether stocks are over- or undervalued.  Objective: The objective of this essay is to study which valuation models are mainly used by financial analysts in Swedish banks. The purpose is also to study how reliable these models are considered. Method: The empirical study is based on a qualitative approach through interviews with financial analysts. The study includes both primary data (interviews) and secondary data (literature, websites and scientific articles)Theory: The theory chapter includes methods of analysis (fundamental and technical analysis), Valuation models, components of valuation and an example of a valuation with the Discounted cash flow model. Empirical study: The study includes a qualitative research that consists of interviews with financial analysts.

The aim of this thesis is to examine the flow of information in an administration of the municipality Borås Stad. To achieve the aim the following questions were asked: How accessible is information? How is information used in the organisation? How is information communicated? Totally sixteen qualitative interviews was accomplished with employees at the administration. The results of the interviews show that there is a difference in how much and what sort of information the respondents use. They all seem to prefer information to be communicated face to face if possible or over the phone.

From the customer?s perspective the only reason for a firm to exist is the value it creates. However, a problem within manufacturing companies is that of the total lead time, only a small part can be considered as value adding. It has further been discovered that when working with improvements businesses often sub-optimizes single processes instead of considering what benefits the entire company. Thus, when improving processes and activities it is important to have knowledge about and understand which factors that affect how the flow can be designed.Several studies have been performed with a wide perspective on process flows in order to obtain a more resource-efficient and value added flow.

The objective of this thesis is to map the resources and methods used at the department OPPC, at AstraZeneca, and derived from that give suggestions on possible solutions that will increase their productivity.Mapping of the product flow, as well as gathering of process data, has mainly been done using observations, but consultation with the process technicians has also played a great role. Further have theoretical methods been used, based on literature studies, within the areas of Lean production and statistics.The work has incrementally gone forward since the steps taken has been restricted by the irregularity of production which led to the need of creating a fictive production flow. This has affected the lead-time calculations in the way that they are meant to give an indication, rather than an absolute truth, on how different methods described shall be used.The current state analysis showed multiple areas of improvement when defining capacity as value adding time in relation to total throughput time. Using the "standard scenario" as a basis showed that the actual production flow only constituted 50% of the total project time. Further it showed that the workflow contained more non-value adding activities than value adding activities, which is a result of how the work is distributed within the department as well as in the different projects.

This report is the result of an investigation of the possibility to use RFID-technology in a producing company. The investigation is focused on a flow between the company?s producing subsidiary company in Lithuania and its main facility in Sweden.RFID is the abbreviation for radiofrequency identification. The RFID-technology forms the base of a system with wireless information transmission between an object to which a transponder, also called tag, has been attached and a reader. The information is transmitted by radio waves and the system is equipped with software that can digitalise the radio waves.

Today's global market means that raw materials are sought and bought from all over the world. This creates an higher demand for a well-functioning supply chain. In our thesis we have studied a large paper mill in northen Sweden which experiences issues with flow of raw material. Our aim has hence been to examine which aspects affect the flow of raw materials to the mill, and how these can be adressed using an IT-system. The question we sought to answer was; What factors are important to consider and how do these affect the ability of an IT-system which will support the flow of raw material at the paper mill? We have found that the problems are strongly connected to the low amount of information sharing between the mill and the suppliers.

Purpose:The background to this study is an upcoming sale of a property. Owner of the property is currently city of Gävle and tenant is Jan Ekroth who runs the hostel Gamla Gefle in the buildings belonging to the property. The purpose of this study is to investigate whether Gamla Gefle AB has the financial ability to acquire the property and if it can be defended in a commercial plane.Method:In this study a qualitative method has been used, in which empirical data has been gathered from interviews and financial data taken from annual reports. These empirical data have been put against our theoretical framework and led to our analysis. In the analysis, cash flows and discounted future values have been calculated to determine the outcome of the investment.Results & conclusion:The study reaches the conclusion that the hostel Gamla Gefle should complete its acquisition of the property, in spite of an decrease of the annual cash flow.

The effects of the deregulation of the electricity market 1996 in Sweden on short-term hydropower regulation are unknown. This report investigates patterns in subdaily regulation in the Ångerman River Basin during the period 1993-2011. Differences in subdaily flows and zero flow events between the periods 1993-1995 and 1996-2011 were studied by analyzing hourly data from 8 regulated and 8 unregulated locations with four subdaily flow variation indices. No correlations between the market deregulation and the regulation intensity in the Ångerman River basin were detected. The number of days natural ranges of variability were exceeded and the magnitude of subdaily variation were significantly higher at regulated locations.

The purpose of this master?s thesis is to examine how pupils with Swedish as a second language and school librarians perceive the concept of pleasure of reading and the feeling of being a part of society. Our research is based on qualitative interviews with eight students in grades 6-9 and from two different schools. We have also interviewed two school librarians in these two libraries. As a method of analysis, we used phenomenography because it is the informants' perceptions of the phenomenon of pleasure of reading that we investigate.