Sammanfattning saknas..

Debatten om det rimliga i att tillämpa rörliga belöningsmodeller i form av bonusar och optionsprogram som ersättning för utfört arbete tycks återkomma varje vår i svensk massmedia. Många undrar varför allt fler svenska företag väljer att följa denna trend, särskilt som studier visar att något samband inte kan påvisas mellan prestation i form av måluppfyllelse och rörlig lön annat än med speciella förutsättningar. Mot denna bakgrund ter det sig intressant att vundersöka vilka faktorer som är styrande vid valet av lämplig belöningsmodell hos svenska företag. Ett sätt att öka insikten på är att göra en djupstudie på något lämpligt företag. Valet föll på Investor, bland annat för att bolaget på årets bolagsstämma beslutade anta ett nytt belöningsprogram.

Socially Responsible Investments (SRI) and Active Ownership have become increasingly important concepts when it comes to the corporate governance of Investors today. Institutional owners highlight the importance of engaging in dialogue, in their pursuit to influence the companies to become sustainable. However, stakeholders and academia are requesting more insight into the workings of these dialogues, concerning their purpose, design and function. This study attempts to increase the existing knowledge of dialogue as a tool for active engagement, used by institutional Investors in Sweden. The performed study is based on interviews with five public and private Swedish institutional Investors, an SRI consultant firm as well as representatives from two NGOs.

Investors? use borrowing as a way to profit from leverage advantages in their portfolios.When Investors borrow with their securities as safety for the loan and the value of thesecurities decrease the Investor can get a portfolio with more credit than what is covered bythe value of the securities and risk huge losses. To what extent an Investor is allowed toborrow with his portfolio as safety depends on the bank or broker and varies between theproviders. By studying available material and in addition to that making an empirical study Iattempt to find out the reason for the varying degrees of leverage possibilities between thebrokers and how the degree of maximum borrowing on the securities are decided. Thefindings show that decision of leverage degree on a security is made after first making aquantitative analysis of the stocks volatility and liquidity and thereafter make a qualitativeanalysis of the company.

The purpose of this essay is to evaluate stock index bonds return to risk ratio in order to investigate to which degree an Investor in a stock index bond take part of the underlying index return and what the Investor must pay for the security of not losing his funds. In order to carry out this evaluation an average return per year and the Sharpe ratio will be calculated and a mean- standard deviation analysis will be made. All investigated stock index bonds are based on a Swedish underlying asset.The results show that the stock index bonds haven?t generated a higher risk adjusted return than its underlying asset. The stock index bonds took part of 57 % of the underlying assets return, and the loss of 10 percentage points per year for the stock index bonds compared to its underlying asset can be seen as the cost for the guarantee a stock index bond gives..

Ever since it was first introduced in an article in the Journal of Finance 1952, Harry Markowitz? mean - variance model for portfolio selection has become one of the best known models in finance. The model was one of the first in the world to deal with portfolio optimization mathematically and have directly or indirectly inspired the rest of the world to develop new portfolio optimization methods. Although the model is one of the greatest contributions to modern portfolio theory, critics claim that it may have practical difficulties. Partly because the Markowitz model is based on various assumptions which do not necessarily coincide with the reality.

It is well known that small businesses and entrepreneurs in the initial phase has difficult to gain access to external capital and bank loans. With the background of the problems that entrepreneurs face when they ask for capital has since the financial crisis the phenomenon of crowdfunding developed and evolved. Crowdfunding is an alternative source of funding for entrepreneurs to fund their ideas through small or medium-sized capital contribution from a larger amount of Investors, often Investors who have any kind of relationship with the entrepreneur or to the very idea. This study examined the factors that motivate and guide an Investor's decisions when they select their projects. The results of the study show that the motives of the various existing forms of crowdfunding is big.

During recent years, financial innovation has given rise to numerous structured investment opportunities aimed towards the general public. These have enabled private Investors to engage in high-risk investments offering as much as 400 per cent leverage while oftentimes not fully having grasped the risk involved. The issuers of these securities have been criticized for using advertising of a too aggressive and misleading nature.By presenting 819 potential Investors with two different investment opportunities yielding the same return over a six day period, we have aimed to assess whether the inclination of being affected by judegmental heuristics varies with factors such as knowledge, overall attitude towards the asset class, risk appetite and experience from previous investments.We have observed that Investors' perception of the attractiveness of an investment can be distorted by altering the information presented to the Investor. However, our findings show that this tendency decreases with an increased level of knowledge, experience and risk appetite..

I början av 2000-talet avslöjades flera stora redovisningsskandaler i USA. Stora amerikanskaföretag som Enron och Worldcom lyckades genom svekfull redovisning vilseleda marknadenatt tro att deras finansiella ställning var avsevärt bättre än vad det visade sig vara. Enronförsökte t.ex. gömma stora skulder genom att inte ta upp dem i balansräkningen, dettaarrangerades av Enrons finanschef med samtycke från revisorerna och bolagets styrelse. Närskandalen avslöjades och Enron tvingades ta med de korrekta siffrorna i balansräkningen blevkonsekvensen att företaget fick begära konkurs.

The Swedish household?s savings has increased the last couple of years, according to Statistiska centralbyrån. But the amount of households that trades on the stock market has decreased from the year 2012 to 2013. The diminished interest in stock trading carries a risk by leading to a smaller yield for the private savers, and also effect the business development and the economic growth. High brokerage fees will aggravate the ability to attract venture capital.

Companies financed through borrowed capital are allowed a tax deduction for the costs re-lated to their borrowed capital. A similar tax relief for companies financed through share-holder?s equity does not exist, why these companies are taxed higher than companies fi-nanced by borrowed capital. The result is that there is an asymmetric tax treatment of companies depending on how they are financed.The autumn of 2012, the Swedish government presents a proposal for an Investor deduc-tion which seeks to equalize the above mentioned asymmetry. The proposed Investor de-duction is a tax relief for investments in shares in a startup- or small company equal to 50 percent of the acquisition cost of that investment.The venture capital deduction, which in this thesis is treated as an alternative to the inves-tor deduction, is an interest-free tax credit which significate that two-thirds of the acquisi-tion cost is deductible from taxation at the time of the acquisition.

The modern arena as we know it today has its origins from about 100 years ago. Since then a lot of aspects have been changed and developed. Arenas built in the same age tend to have the same features and configurations and can therefore be categorized into different generations. Stockholm is represented in each generation but the fourth that constitutes arenas of the early 21st century. Besides that there has been several arena constructions built through the entire 20th century and now most recently in 2010s.The overall motive behind arena investments can be categorized into two types.

Titel Investor Relations framtid - Den digitala generationens krav på kommunikation.Författare Johan Sahlman Simon KarlssonKurs C-uppsats i Medie- och kommunikationsvetenskap, Institutionen för journalistik och masskommunikation vid Göteborg universitetTermin Vårterminen 2009Handledare Jan StridSidantal 61 sidor exklusive bilagorSyfte Syftet med studien är att undersöka en yngre generation finansiella intressenters uppfattningar och önskemål av företags finansiella kommunikation.Metod Fokusgrupper, två grupper aktieägare en grupp finansanalytiker & investerare.Material Två grupper aktieägare från Högskolan i Borås, totalt 7 st. deltagare, en grupp finansanalytiker & investerare från Andra AP-fonden, totalt 4 st. deltagare.Huvudresultat Vårt resultat visar att aktieägare, finansanalytiker och investerare är positiva till vissa format beroende på deras förutsättningar. Trovärdigheten i formaten och av innehållet är av stor betydelse för deras användande. Tryckta finansiella rapporter är fortfarande positivt uppskattade och de digitala formaten ska istället ses som komplement.

Uppsatsens syfte är att erhålla en förståelse för hur olika intressenter (företags Investor relations-avdelning, analytiker, media) på kapitalmarknaden tänker och agerar gällandes att stabilisera ett företags aktiekurs med stöd av Investor relations (IR). Det är även intressant att belysa och erhålla en bred förståelse gällande intressenternas handlande och hur deras beteende kan tänkas påverka en aktiekurs. För att erhålla en god empiri användes en kvalitativ metod med sex personliga intervjuer. Respondenterna utgörs av två börsnoterade företags IR-avdelning, Hennes & Mauritz (H&M) och Skandinaviska Enskilda Banken (SEB). Vidare intervjuades två analytiker som analyserar de nyss nämnda företagen.

Social media has today reached a level of maturity similar to the Internet in the beginning of the millennium. More and more people get involved both on a private and professional level and companies are starting to realize the need to keep up with the new online behavior of its target groups. The Investor Relations(IR) function has for a very long time been carried out by writing reports and press releases, but maybe as times change so will the tools needed to communicate the IR-issues for the companies? The purpose of this paper was to examine the views on and involvement in social media for IR-purposes at the four main banks in Sweden: Nordea, SEB, Handelsbanken and Swedbank. The study was carried out in the form of a qualitative case study in which the banks were analyzed separately with the help of Davids and Venkateshs TAM2-model(2000) and also analyzed against one another.