Bakgrund: Effektiva marknadshypotesen innebär att det inte går att utnyttja systematiska avvikelser på marknaden. Trots det finns det etablerade investeringsstrategier som investerare använder sig av för att generera överavkastning.Syfte: Syftet med studien är att undersöka huruvida det går att generar överavkastning genom att investera i företag som uppvisar en låg eller hög EV/EBITDA-multipel. Variablerna bransch och risk kommer även att undersökas med utgångspunkt från den eventuella förekomsten av en investeringsstrategi som genererar överavkastning.Genomförande: Teori inom området har byggt upp en grundförståelse för problemet, empiri har sedan hämtats från de olika företagen för att få fram EV/EBITDA-multiplar till de ingående portföljerna i studien. Aktiekurser har även inhämtats för att bygga grunden till empirin. Resultatet har sedan jämförts med OMXSPI samt med den riskjusterade avkastningen.Resultat: Av resultatet framkommer att det går att utnyttja en investeringsstrategi där investering görs i låga EV/EBITDA-multiplar.

Two elementary schools are now being built in Gråbo (in the municipality of Lerum),Röselidsskolan and Ljungviksskolan, which are both designed with solar thermalcollectors for the schools domestic water heating. During the summer while thelargest amount of solar heat can be generated, the activity hence the domestic wateruse in the schools are heavily reduced. Both schools are connected to the local districtheating system which makes it possible to use the solar collectors to deliver heat tothe district heating.The purpose of this thesis is to evaluate the two systems mentioned above and todetermine which system is more suitable to apply on a school. The building whichconditions were used for this evaluation is Röselidsskolan.A solar heating plant of each system type was dimensioned from the expected andknown conditions of the building. The purpose with the dimensioning was to makethe solar plants replace the ordinary energy source as much as possible.

The study has been done on behalf of and in cooperation with LRF Konsult. The purpose of the study was to try to find out how forest estate buyers valuated different parts of the estate at the time of the purchase and to see if it was possible to identify different trends between different kinds of purchasers. The study is delimited to Västerbotten County and all the purchases were made thru LRF Konsult. The background of the study is that the forest estate purchasers are paying more and more for the forest estates. The prices are often much higher than the net present value which means that they are paying for something more than just the timber value. The study is made with a questionnaire mailed to one hundred forest estate purchasers. Answers got returned from 48 of them.

Two elementary schools are now being built in Gråbo (in the municipality of Lerum),Röselidsskolan and Ljungviksskolan, which are both designed with solar thermalcollectors for the schools domestic water heating. During the summer while thelargest amount of solar heat can be generated, the activity hence the domestic wateruse in the schools are heavily reduced. Both schools are connected to the local districtheating system which makes it possible to use the solar collectors to deliver heat tothe district heating.The purpose of this thesis is to evaluate the two systems mentioned above and todetermine which system is more suitable to apply on a school. The building whichconditions were used for this evaluation is Röselidsskolan.A solar heating plant of each system type was dimensioned from the expected andknown conditions of the building. The purpose with the dimensioning was to makethe solar plants replace the ordinary energy source as much as possible.

This master?s degree project concerns the combination of a multi dwelling passive house with solar energy for the generation of electricity and domestic hot water (DHW). Different alternatives with either solar thermal systems or photovoltaic (PV) systems are compared with two reference alternatives producing DHW from electricity or district heating. The economical comparison uses a life cycle cost (LCC) perspective based on the present value of expenditures for investment, energy and annual operating and maintenance.The energy yields from the solar energy systems were calculated by hand and with simulation software. Calculation and dimensioning of PV systems were carried out with a software called PVSYST.

Two elementary schools are now being built in Gråbo (in the municipality of Lerum),Röselidsskolan and Ljungviksskolan, which are both designed with solar thermalcollectors for the schools domestic water heating. During the summer while thelargest amount of solar heat can be generated, the activity hence the domestic wateruse in the schools are heavily reduced. Both schools are connected to the local districtheating system which makes it possible to use the solar collectors to deliver heat tothe district heating.The purpose of this thesis is to evaluate the two systems mentioned above and todetermine which system is more suitable to apply on a school. The building whichconditions were used for this evaluation is Röselidsskolan.A solar heating plant of each system type was dimensioned from the expected andknown conditions of the building. The purpose with the dimensioning was to makethe solar plants replace the ordinary energy source as much as possible.

Two elementary schools are now being built in Gråbo (in the municipality of Lerum),Röselidsskolan and Ljungviksskolan, which are both designed with solar thermalcollectors for the schools domestic water heating. During the summer while thelargest amount of solar heat can be generated, the activity hence the domestic wateruse in the schools are heavily reduced. Both schools are connected to the local districtheating system which makes it possible to use the solar collectors to deliver heat tothe district heating.The purpose of this thesis is to evaluate the two systems mentioned above and todetermine which system is more suitable to apply on a school. The building whichconditions were used for this evaluation is Röselidsskolan.A solar heating plant of each system type was dimensioned from the expected andknown conditions of the building. The purpose with the dimensioning was to makethe solar plants replace the ordinary energy source as much as possible.

Purpose: The purpose is to research different co-operations between venue owners and WISPs, when WLAN is deployed in a public space. The aim is to establish viable business models for the interaction between the two vital actors in the public WLAN industry. In this work, the advantages and disadvantages of revenue and cost sharing will be defined, along with technical and commercial issues that need to be resolved. Methodology: A number of case studies of the current situation have been conducted in the most attractive venues for WLAN, airports. As the public WLAN market had most widespread adoption and is most mature in the USA, case airports were chosen both there and in Scandinavia.

All companies face risk in their daily business. Internationalised companies tend to experience higher risk due to for example unfamiliar business environment than companies that act only on the national market. Estonia became independent as late as in 1991 and is therefore a new interesting market for many companies in neighbouring countries like Sweden. Risks that are most apparent for an internationalised company are political risk, currency risk, capital and interest rate risk, business risk and credit risk. Our intention of this study was to find out how Swedish companies acting on the Estonian market faced the different risks when entering the Estonian market and how they value the risks today.

Stock lending is primarily a professional activity. The supply of stocks in the lending market comes mainly from pension funds and insurance companies, while intermediaries provide valuable services by taking positions as borrowers as well as lenders. Borrowers use stock lending for various reasons. For instance, hedge funds usually borrow stocks to cover a short position. There has been a lot of controversy in the stock lending industry and the debate has mainly concerned its effects for the stock markets.

Stock lending is primarily a professional activity. The supply of stocks in the lending market comes mainly from pension funds and insurance companies, while intermediaries provide valuable services by taking positions as borrowers as well as lenders. Borrowers use stock lending for various reasons. For instance, hedge funds usually borrow stocks to cover a short position. There has been a lot of controversy in the stock lending industry and the debate has mainly concerned its effects for the stock markets.

The aim of this study is to investigate which management control mechanisms evolve in companies that receive funding from Venture Capital companies and why the management control systems evolve in the way that they do. A case study was performed on three Swedish high technology companies, that all received funding from Venture Capital companies for the first time in 2006. Merchant?s framework, defining all management control mechanisms as either, results control, action control or personnel control, was used to structure the study. Results show that the companies that received Venture Capital all increased the use of management control mechanisms within results control, action control and personnel control.

Purpose: The main objective of this study is to research whether an announcement of an acquisition generates positive/negative abnormal short-term return towards the buying company?s shareholders. The secondary purpose is to research whether any differences could be due to selected factors: firm size and industry.Method: The study is quantitative in nature where the research aims at the stock price movement around the announcement of an acquisition. The sample size includes 30 companies between the years 2000-2010. The abnormal return is investigated by an Event Study.Conclusion: Our study shows that the publication gives a positive abnormal return in comparison to the respective sector indexes.

Purpose: The purpose of this paper is to contribute with knowledge regarding the connection between the socialization process and the organizational commitment perceived by junior accountants. Based on Van Maanen and Schein's (1979) model, we intend to identify and describe how selected socialization strategies affect junior accountants? perceived affective, continuous and normative commitment during the initial five years in the firm.Research methodology: Semi-structured interview was chosen as the key approach for gathering essential data. Interviews were conducted at three major accounting firms with a total of eight interview participants. The study has a qualitative approach because of the ability to go in depth on the studied phenomenon.Conclusion: The socialization process consists of individual, informal, sequential, fixed, serial, and investiture strategies.

The aim of the project is to develop a tool for a management system at the advertising agency ofConfetti. The company has during a longer period of time felt a need of introducing a quality and environmentalsystem but have a lack in resources of knowledge, time and money. Their goal is to have aconcrete documentation which describes their quality policy and the function of the activity.The work has been performed by mapping and analyzing the processes of the company according tothe process model with focus on one pilot process. New routines have been developed and documentedin a management system.Confetti would like their management system to fulfil the ISO-standard so that they eventually inthe future can be certified. Therefore a literature study has been done according to management systemsand standards.