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.

The purpose of this thesis is to ascertain the main determinable factors of Swedish SMEs capital structure decisions and to investigate whether existing capital structure theories are applicable on Swedish SME financing. We have used panel data to run regressions of various capital structure determinants on three measures of capital structure; short- term debt, long-term debt and total debt. We found that growth opportunities, profitability and age are the most important capitalstructures determinants for our sample. Firm size shows a small explanatory result but the effective tax rate and the asset tangibility do not seem to explain the capital structure at all. Thematurity matching principle is considered significant..

The name of the thesis is?Istheprintedbook?sdeaththeauthorsbread??Astudyinhowthepublishinghouses?andtheauthors?relationshipschangeduetotheintroductionofthee--?book?Thee--?book,whichisadigitalcopyoftheprintedbook,hasbeenonthemarketforovertwodecades.However,itisnotuntilnowthatchangesarehappeningwithintheindustry,whichaffectsthedifferentactors.Amazonhasforexamplelaunchedane--?readerbythenameKindleonthemarketandApplehaslaunchedasurfpadbythenameiPad,bothwhichyouareabletoreade--?bookson.Thetechnologicalchangesthatarehappeningaffecttheactorswithinthebookindustryaswellasthestructureoftheindustry.Theresearchquestionofthisthesisis?owdothepublishinghouses?andtheauthors?relationshipswithinthebookindustrychangeduetotheintroductionofthee--?book??Actor--?networktheoryisusedtoinvestigatethis.Thetheoryincludesbothhumanandnon--?humanactors,whichtogethercancreateanetwork.Theactorswithinthenetworkconnectthemselvestoeachotherandtherebyformthenetwork.Thepurposeofthisthesisistocreateanunderstandingforhowactorsandtheirrelationshipswithinanestablishedindustrystructureareaffectedbydigitalisation.Toachievethis,semi--?structuredinterviewswereconductedwithpublishinghousesandauthors.Theboomofthee--?bookinlargepartdependsuponthetechnicaldevelopmentthathasoccurredandwhichhasintroducedsmartphones,e--?readers,surfpadsetceteraonthemarket.Moreactorswillariseinthebookindustryduetothedigitalisation,whichinturnwillaffecttheexistingrelationshipsofthepublishinghousesandtheauthors.Thepublishinghouseswillkeeptheirroleinthenetworksasakeyplayer,butcomeintocontactwithmoreactors.Theauthorsaregiventhechancetoself--?publishtheirbooksase--?books,whichmakethemcomeintocontactwithmoreactorsaswell.Asmoreactorsarise,thestructurewithintheindustrybecomesrelaxed.Hence,thepublishinghousesneedtoenrolthenewactorsinorderforthemtokeeptheirpositioninthenetwork..

This thesis describes how large Swedish companies finance their debt and identifies some factors that affect their decisions. The study is based on 10 well-known companies of which 9 are listed on Nasdaq OMX Nordic. The results show that the companies display several similarities concerning their debt structure and the factors which their choices are based upon. All companies in this study primarily use corporate bonds for their long-term borrowing, commercial papers for the short-term borrowing, and bank-facilities as back-up. There is a tendency that smaller companies in larger extent use bank-loans for long-term borrowing due to larger emissions costs when using market financing.

In May 2005 the Swedish cinema chain Astoria Cinemas is founded and in July two years later the company goes bankrupt. In this thesis Astoria Cinemas is used as an example to illustrate the conditions for a culture-producing company in a commercial market. The purpose of the thesis is to discuss the strategies for cultural production that has been used by the actors involved in the Swedish cinema market, and also to discuss the structural environment on that market. It is a qualitative study based on interviews and documentation. A few conclusions are possible to draw from the empirical material, one is that Astoria Cinemas? management did not agree on the company?s business strategy and therefore might have acted strategically inconsistent.

The purpose of this thesis is to increase the understanding of why convertible bonds are a relatively uncommon financing method in Sweden. The aim is to find the explanatory factors for this situation. The analysis is based on interviews conducted from three perspectives; the investor?s, the adviser?s and the issuer?s. The main finding is that the Swedish financial market has characteristics that inhibit the development of a convertible bond market in Sweden, leading to the fact that most convertible bonds are issued under special circumstances.

The name of the thesis is?Istheprintedbook?sdeaththeauthorsbread??Astudyinhowthepublishinghouses?andtheauthors?relationshipschangeduetotheintroductionofthee--?book?Thee--?book,whichisadigitalcopyoftheprintedbook,hasbeenonthemarketforovertwodecades.However,itisnotuntilnowthatchangesarehappeningwithintheindustry,whichaffectsthedifferentactors.Amazonhasforexamplelaunchedane--?readerbythenameKindleonthemarketandApplehaslaunchedasurfpadbythenameiPad,bothwhichyouareabletoreade--?bookson.Thetechnologicalchangesthatarehappeningaffecttheactorswithinthebookindustryaswellasthestructureoftheindustry.Theresearchquestionofthisthesisis?owdothepublishinghouses?andtheauthors?relationshipswithinthebookindustrychangeduetotheintroductionofthee--?book??Actor--?networktheoryisusedtoinvestigatethis.Thetheoryincludesbothhumanandnon--?humanactors,whichtogethercancreateanetwork.Theactorswithinthenetworkconnectthemselvestoeachotherandtherebyformthenetwork.Thepurposeofthisthesisistocreateanunderstandingforhowactorsandtheirrelationshipswithinanestablishedindustrystructureareaffectedbydigitalisation.Toachievethis,semi--?structuredinterviewswereconductedwithpublishinghousesandauthors.Theboomofthee--?bookinlargepartdependsuponthetechnicaldevelopmentthathasoccurredandwhichhasintroducedsmartphones,e--?readers,surfpadsetceteraonthemarket.Moreactorswillariseinthebookindustryduetothedigitalisation,whichinturnwillaffecttheexistingrelationshipsofthepublishinghousesandtheauthors.Thepublishinghouseswillkeeptheirroleinthenetworksasakeyplayer,butcomeintocontactwithmoreactors.Theauthorsaregiventhechancetoself--?publishtheirbooksase--?books,whichmakethemcomeintocontactwithmoreactorsaswell.Asmoreactorsarise,thestructurewithintheindustrybecomesrelaxed.Hence,thepublishinghousesneedtoenrolthenewactorsinorderforthemtokeeptheirpositioninthenetwork..

As competing organizations struggle to become more effective, one field stands out as one of the vital keys to success; internal communication. Even small errors in information handling can end up into obstacles that seem impossible to overcome. Managers constantly need to adjust the internal communication to fit variables that mirror the structure of the organization. This thesis is a study about how and in what magnitude structure affects organization?s internal communication.We have done qualitative interviews with McDonald?s and Diesel, two different global organizations within the branch of service business.

The Swedish TV broadcasting market is constantly changing together with the players in it. The questionto be answered by this paper is how the players in the market handle these changes and to what extentthe players are changing the market. Also, are there any differences between the public service andcommercial players in this aspect? The purpose of this paper is to create a better understanding of theSwedish broadcasting market and its player's market orientation. Through case studies of the three mainbroadcasting companies, SVT, TV4-gruppen and MTG, the market is analyzed from their perspective.The conclusions from the analysis show that there are differences in the market orientation betweenpublic service and commercial players, where the commercial companies are more market driven..

Örebro UniversityDepartment of Social SciencesSociology and social psychology, Continuation course, 61-90 p.Essay 15 p, Spring -08.Title: ?Youth (work)seekers?Author: Karolina LindellAbstractThis essay focuses on young people?s social background when they apply for their first job. I have interviewed four young people from a small town in Sweden, to see how social background and identity affects their vital conditions in general. I?m interested understanding the relationship between structure and agency.

International expansion has long been associated with a positive trend that many companies, regardless of industry, choosing to realize mainly to expand its market share and hence its profitability. Various theories describe differentiated strategies to promote corporate expansion. Either they shall be financed by internal funds, or balancing equity with debt, or only increase leverage in order to achieve the desired results. This study focuses on the Swedish fashion market and its degree of internationalization. The purpose is to attempt to discern whether there exists a correlation between the degree of internationalization and its financial performance.The study was based on a quantitative approach where secondary data was collected so that we then would be able to perform regression calculations.

This study is about job training for people with psycho-social problems without income. The purpose with this sort of job training is to bring these people back to the regular labor market as well as the experience of having a job. In the labor market situation in Sweden today there?s no guarantee that the individual will return to the labor market after having undergone job training. The aim of this study is to understand how supervisors at job training activities experience that the organizations of the activities and resources affect their work.

Purpose: The purpose of this thesis is to test for the existence of Capital Structure Arbitrage oppertunities in the equity-credit markets. Methodology: The mispricing of Credit Default Swap contracts are calculated and used as input in an Equity-Credit market trading strategy. The returns are then evaluated with a modified Value-at-Risk simulation. Theoretical perspectives: A Merton-based structural model, CreditGrades, is used for credit pricing and a mispricing-convergence trading-strategy between the credit and equity markets is implemented. Empirical foundation: Daily quotes for the Credit Default Swap spread of 37 European firms were collected for a period of two years, as well as equity-prices for the same period and the previous two years, used for model calibration.

The purpose of this ideology critical study is to investigate the hidden content in the reform Gy11 and compare it with the concept new public management. After the clarification of the hidden content, we compare the structure of the organization in Swedish high schools with the structure in public sector called new public management. The main questions of this study are the following: Is it possible to see the foundation of new public management in the Swedish high schools when it comes to the views of knowledge and the formation of goals? Which similarities can we find when we look at the organization new public management and the Swedish high school?The result showed many similarities, both regarding the views of knowledge and the formations of goals. The structure of new public management has been largely implemented in the Swedish high schools and the schools now focus more on instrumental knowledge rather than universal knowledge based on understanding.This is not surprising due to the social progress.

The aim of this comparative study is to analyse the French and the Polish regional governance in order to see if there are any differences in their regional ruling systems. Further more I will study their different possibilities in taking part in the European Union regional political market. The shape of the regional systems will be explored both organisationally (study of the institutional entities of the regional construction) and functionally (study of the competencies of the regional body etcetera) to focus on its cause on the regional development. My over all focus will be to find out whether regional rule means differently in the countries France and Poland.Several questions are dealt with and the two main ones are as follows; How do the different structures of the form of government in France and Poland influence the governance on the regional level? Do Poland, as a new member state of the European Union, have what it takes to face the challenges of the new membership; or are there a complex of problems arising from the admittance that prevent its regions from fully taking part in the European regional political market?Some of my conclusions are as follows;There are major differences between the two countries when it comes to their regional ruling systems leading to different abilities in taking part in the European regional political market.