Question:"Does the market possess perfect information as the efficient market hypothesis says?""Is there any significant relationship between the abnormal stock return on the ex ? day and the dividend?" Purpose: The purpose of this study is to enlighten and find understanding about stock return versus dividend on the ex ? day and try to figure out if abnormal returns occur on the portfolio during dividends.Methodology:The study was based in a quantitative nature and was derived with an event study and a hypothesis testing. The authors investigated the thirty most traded shares on the Stockholm stock exchange during a period of five years (2005 ? 2009). They were analyzed during a total of nine days; the estimation window was set to sixty days.

Background: During extreme market conditions like the period during fall 2008 the discussion of what affects company value becomes apparent. The capital structure is the relation between borrowed capital and equity in a company´s financing mix. What impact changes in capital structure have on company value is a widely debated subject within the theory of finance. If a relationship between capital structure and company value exists the implication is that an optimal capital structure where company value is maximized also exists.Aim: The aim of the thesis is to study whether a certain relationship between capital structure and company value exists among selected stocks and companies listed on Stockholmsbörsens OMXS30.Implementation: With aim to fulfill the purpose of the thesis regression analysis has been performed among chosen stocks and companies. The empirical results eventuating from this have been analyzed from the view of elected relevant theory.Completion and results: We find that during normal market conditions a positive relationship between debt ratio and enterprise value (EV) can be established.

The Swedish stock-market gives investors an opportunity to benefit from the global growth while financing companies invests and contributes to a socio-economic development. Parallel to the ownership of the funds also follows a responsibility as companies in the funds affect society and the environment. The growth of savings in funds, combined with an increased focus on sustainability has developed SRI (socially responsible investment). Therefore it is interesting to examine whether responsibility is an exception, which only concerns SRI-funds or a general principle, which includes the whole Swedish stock-market.The results of the survey makes it clear that all the Swedish major banks actively works to integrate sustainability within the respective bank's business to achieve a more sustainable financial system. Thus concludes the investigation that responsible investments are a general principle on the Swedish mutual stock-market.How responsibility is integrated in fund management differ between the banks.

The flexibility of the labour market is considered as an instrument for increasing economic growth.Therefore has the use of flexible employment, also called atypical employment, increased. The atypical employment is characterized by insecurity in comparison with a traditional permanent full- time employment. One of the most common atypical employments is the manning employment, which is insecure whether it is permanent or not. The insecurity in the industry is based on insecure income, unpredictable working hours and poor psychosocial work environment.In order to encourage a continued increase of flexibility in the labour market while the need for security for staffing employees would be satisfied was Directive 2008:104 adopted. A certain amount of security has been achieved.

AbstractÖrebro UniversityDepartment of HumanitiesMedia and Communication StudiesBachelor Thesis, Spring 2007Title: Bajen is the name ? The study of the information business of a professional soccer clubBy: Erik Johansson and Markus WelinSupervisor: Göran ErikssonPurposeThe purpose of this essay was to examine how a professional and multinational sport organisation works to present a positive image of it. The object of our study was Hammarby, one of the by media most intensive covered Swedish clubs. We have also investigated the relation between the sport communication strategies and the media.TheoriesWe have used prior research in the areas of sport and media, Sport Management, journalism and Public Relations. We have also applied Public Relations and Marketing theories.MethodWe chose to use the methods of qualitative interviews, and participant observations.

This study was made with the incentive to find out the view on advertorials in Swedish press today. Our exploration of advertorials refers not only to adverts that look like editorial texts, as per the definition in the oxford dictionaries, but also to ways that editorial texts use an advertorial style or language similar to adverts. We explored both these sides because we recognized that the existence of advertorials in press today has to do with material which is indistinctive in several ways, and to find out the views on this, we interviewed chief editors and publishers on six local daily newspapers in Västra Götaland, Sweden.Our theories were based in the fact that the press finds itself working in a commercialized landscape, at the same time as journalism has a democratic role to uphold in society.We also considered that there used to be a committee against advertorials in Sweden called Textreklamkommittén, which was disbanded in 2005. That committee had a mandate to govern and try cases of advertorials in the press, but today, the only thing that journalists have to consider is a guideline of publishing matters. The central part of our study was therefore to find out what actual issues journalists have to consider in their daily work, as they are exposed to various forms of advertorials.After conducting the interviews, we asked four analytical questions to our material using the ECA-method of analysis.

The market for eco-labelled products has developed rapidly from the early nineties in Sweden. There is a full variety of environmentally friendly products on the market today, and perhaps organic food is the most popular alternative. Eco-clothes have not reached the same amount of success as other eco-labelled products on the Swedish market. In this essay I will discuss and analyze which factors that have influenced green consumers attitude and behavior towards eco clothing. Four interviews with green consumers in Karlstad have been done in order to explore consumers attitude and behavior.

Title: Pricing of IPO:s on the Swedish stock market Authors: Mikael Gustavsson Martin Kvist Henrik Wannberg Tutor: Anders Hederstierna Problem: There are certain sets of problems for underwriters when they are pricing potential stock-exchange companies. The problem partly consists of estimating the demand at an IPO and also to accurately value the business in comparison to the market. To set the price per share is problematic, since the company carrying out the public offering wants to optimise the amount of capital at the same time as they want the share to be subscribed in full. If the IPO would not be carried out, it could cause harm to the position of the underwriters. Purpose: To investigate whether underpricing exists associated with IPO:s on the Swedish market during the period 1995-1999. Method: The collection of data has been achieved by means of: Internet, E-mail and telephone calls. Conclusions: We have reached the conclusion that oversubscribing in comparison to the return at an IPO has an average growth of 3.3 per cent the first day, on every occasion of oversubscribing. For the studied population, including 138 initial public offerings, the average market value rise is 15 per cent the first day. When we made our calculations, adjustments have been made for the general index of Affärsvärlden (AFGX).

This essay aims to analyse the Markets in Financial Instruments Directive, formally called MiFID, andwhether it improves the situation of the investor, the customer, on the market for securities. MiFID isa directive from the European Union and was implemented by the member states in 2007. Besideshaving the objective to harmonise the European financial market, the directive aims to increasecompetition and efficiency among the markets in the member states.After our initial reasearch in the area we choosed to do a textual analysis and divide the content ofMiFID into three main areas: trading venues, transparency and investor protection. These areas aresubsequently analysed in relation to the investor?s situation on the market for financial securities andthe overall question at issue is whether MiFID improves the situation of the investor.

During the last years, the pharmacy market undergone major changes. Re-regulation that has been done in 2009 meant that monopoly was unlocked for competition. In a market where firms offer equivalent products, increases the importance of delivery service as competitive tool to differentiate themselves among the crowd. This also applies to pharmacy market where the supplies of goods in large way consist of equivalent products regardless of the company.This case study observes the importance of delivery service in terms of competitive tool on pharmacy market by focusing on a company?s improvement in delivery service.

Syftet med denna uppsats är att undersöka huruvida hedge- och aktiefonders avkastning påverkas av samma riskfaktorer. Vidare syftar studien även till att undersöka om hedgefonders och aktiefonders riskexponering är konstant över tiden eller ej. Slutligen analyseras även hedgefonders förmåga att förutspå upp och nedgångar på marknaden och därmed generera överavkastning. Det angreppssätt som har använts i undersökningen är av det kvantitativa slaget, där regressionsanalyser har genomförts för att undersöka svenska hedge- och aktiefonders riskexponering samt svenska hedgefonders market-timing förmåga. Studien bygger på avkastningsinformation, under tidsperioden 2001-2004, för 20 hedgefonder och 20 aktiefonder.

The market for management consulting services is changing with an increased level of competition and more specialized service providers. At the same time there is a high level of companies that fail in their efforts to establish themselves on the market. This thesis sets out to give the reader an increased understanding of the complex characteristics of the market for these services, focusing more specifically on which factors that have an effect on the strategy development for companies within the industry. The thesis is also aimed at providing the reader with a deeper understanding of how developing consulting companies can tackle the specific challenges facing them. In order to meet the purpose of the thesis, we have applied relevant theories to a generic strategy model in order to develop a model that is applicable for the management consulting industry.

In this thesis, the Swedish venture capital market and its profitability is analyzed. Venture capital is defined as capital that is invested in the early stages of a company's life cycle, in the two investment stages seed/start-up and expansion.A common view is that the profitability of Swedish venture capital has not been, is not and will probably not become high either. With this in mind, we try to answer to the following questions in this thesis:? What has the profitability of Swedish venture capital actually been historically?? Which reasons could be found in order to explain the historical returns for Swedish venture capital, and which factors has been identified in international comparative studies between venture capital markets?In order to answer these questions, data showing historical returns for the Swedish, European and American venture capital market has been gathered, an extensive literature study has been performed, and three interviews with participants from the Swedish venture capital market has been conducted.We conclude that the historical returns of Swedish venture capital is in line with the general view that they have been low. We also see a trend where Swedish venture capital funds that are not specialized in one investment stage generate lower returns than more specialized funds.

Vårt syfte med uppsatsen var att ta reda på om KASAM-begreppet, trots att det har några år på nacken, fortfarande ses som betydelsefullt. Vi utgick från personalens perspektiv gällande KASAM's betydelse för barn 0-12 år, placerade på institution eller med någon form av insats från öppenvården. Genom kvalitativa intervjuer tog vi del av personalens erfarenheter av KASAM's betydelse för barnen, hur de arbetar och om de metoder de använder sig av , ger möjlighet att skapa en känsla av sammanhang för barnen. Vid tolkningen av vårt intervjumaterial utgick vi från tre teman baserade på våra frågeställningar. Det som framkom av materialet var att KASAM har stor betydelse för barnens välbefinnande.

On Nasdaq OMX Nordic Stockholm there has been a large increase in issues of preferred stocks since the financial crisis 2008. Aiming to explain whether preferred stocks have most of their characteristics relating to debt or equity, we answer four sub questions. Do all preferred stocks share the same features, or do they differ from each other? Our population is similar in characteristics, except for the preferred stock of Swedbank which is convertible and deviates when it comes to participation in dividends - instead of convertible the others are limited and redeemable. Further, the second sub question treats preferred stock in relation to the common stock quantitatively, in market data.