Common wisdom dictates that because payment of dividends decreases funds available for investment, a high payout ratio is to be associated with low earnings growth. This notion has been challenged in recent years by empirical research that has found a positive relationship between payout ratio and future earnings growth, both on the aggregated market level and the company level in different countries. This study investigated the aforementioned relationship on the Swedish market by statistically analyzing future earnings growth as a function of payout ratio on a large sample of publicly listed companies over the period 1980 to 2011. The results are in line with those found in previous research and indicate that companies with high dividend payout ratio tend to experience strong future earnings growth. The results are robust to the presence of mean reversion, the use of an alternative accounting measure of earnings, non-symmetrical earnings growth cycles and alternative practices for dealing with outliers..

A pavement construction designed to cope with the different type of traffic loads; it is exposed to and at the same time it can resist the effect of the climate. A road structure consists of sub- and superstructure which is divided by a boundary known as terrace. During the construction of unbound layers (base course and sub-base course) in the superstructure, it is always ensured that the material meet the requirements for bearing capacity and the degree of compaction. These parameters are controlled by various laboratory tests and control methods. To obtain increased knowledge of the material and improve the quality of the compaction in the field, it is necessary to perform laboratory tests in order to determine material properties.A base course material 0/ 32 mm limestone from Gotland (Hejdeby) was investigated in this study.

In most countries, the dairy industry focuses on the volume of milk produced instead of its composition. This results in a high content of water and a lower proportion of fat and protein. A high proportion of water is not desirable when processing the milk into various dairy products like cheese, cream and milk powder. High water content also increases the costs for transport and storage, and also an unnecessary, albeit marginal, strains on the world?s water reservoir.

The thesis aims to analyze strategic, cultural and structural aspects of Grameen Bank and its micro-credit project, in order to identify key success factors. A case study was performed with an inductive and qualitative approach, using semi-structured interviews. The data was collected by field observations and interviews on site in Dhaka, Bangladesh and surrounding areas.The main conclusion is that the critical success factor of Grameen Bank is the relationship focus, guiding and aligning its strategy, culture and structure. Also, local offices have been observed to utilize practices not permitted by the bank?s management, ultimately increasing the organizational efficiency..

The present study aims to examine how teachers write polemical articles. This genre often occurs in national standardized tests in Swedish schools. The study seeks to analyze argumentative structures in the articles. It also categorizes assessment notes written by the teachers in response to each others? articles, by interpreting response texts.    The examination shows that there is uncertainty among the teachers about how to create structures in argumentative text types.

The aim of this paper was to describe hindering and facilitating factors in the transition from upper secondary school and employment for a person with Asperger?s syndrome. In the process we used general systems theory and made semi-structured interviews with five persons in the network of institutions and associations working with the individual. Our findings showed that the hindering and facilitating factors were basically the same depending of the environmental adjustments. The interviews highlighted the following factors: the recent general unemployment rate in Sweden, selfawareness of the individual and the surrounding environment?s knowledge of the individual?s impairment in relation to Asperger?s syndrome.

Shareholder, who decides to continue with the company, can cause that they become per-sonally liable for its upcoming obligations. Creditors must lodge an appeal against the shareholder to get compensation for the harm they have suffered. The damage rules in Swedish company law are designed to utilize the company?s interest, that is, shareholders and other corporate members shall promote the interests of the company and not cause damage.The rules about compensation that shareholder obligates itself to are difficult to apply and are adapt to the specific cases. For a shareholder to be personally responsible in a real situation a company has to establish a subsidiary company, which is being driven undercapitalized, intended to benefit the shareholder.

I studien testades 35 psykoterapeutstudenter för att undersöka sambandet mellan empati och förmågan att känna igen mikrouttryck. Empati mättes med självskattningsformuläret Interpersonal Reactivity Index vars subskalor mätte följande aspekter av empati: perspektivtagande, fantasi, empatisk omsorg samt personlig oro. Förmåga att känna igen mikrouttryck testades med Micro Expression Training Tool. Resultatet visade ett signifikant positivt samband mellan empati och förmåga att känna igen mikrouttryck. Signifikant positivt samband fanns även mellan subskalan perspektivtagande och förmåga att känna igen mikrouttryck, medan subskalorna fantasi, empatisk omsorg samt personlig oro inte korrelerade med förmåga att känna igen mikrouttryck.

ABSTRACTMy degree project has resulted in the improvement of the guidance in the dental center?s entrance. The patients will now find it easier to understand and find the environment?s various functions, which is the reception, registration, payment, and waiting rooms. Norrbottens läns landsting has a concept ?hälsofrämjande väntrum? that provides guidelines for how they want their patients to experience their waiting rooms.

The purpose of this research is to examine some historical aspects of Robert Putnam?s thesisabout voluntary associations and social capital. According to a micro perspective theory ofsocial capital the trust and reciprocity required and created by associations is important toexplain the disparity between institutional performance and socioeconomic development ofsocieties. The social patterns governing this therefore set a precedent for the future. Using themutual sickness benefit societies in Sweden as variable for voluntary associations around1884, the essay discusses the possible links between social capital, associations and long termeconomic development.

The purpose of this study explains the relationship between corporate governance and the auditor's role in Swedish family firms with the definitions micro, small and medium sized enterprises (SMEs) and how this relationship is affected by the firms strategy. The study is based on a survey sent out to 3000 Swedish SMEs, of which 280 responses from family firms could be used. Our findings showed that the auditor in the family firms didn?t have a specific role or contributed added value to the firm, and that the strategy didn?t affect the outcome. Furthermore, we found correlation between the perceptions of the auditor's role and added value depending on the family firms type of corporate governance.

Syftet har varit att på uppdrag av Periallo identifiera vad kunder tycker är viktigast ur ett säkerhetsperspektiv. Detta har skett genom att besvara frågorna vad som är viktigt för konsumenterna ur ett säkerhetsperspek-tiv när de handlar av små e-handelsföretag och vilka säkerhetslösningar samt betallösningar som är relevanta för små e-handelsföretag. Vi har även undersökt om det är värt för ett litet e-handelsföretag att investera i en certifiering. Arbetet har kartlagt betallösningar, säkerhetslösningar och certifieringar med hjälp av en kritisk litteraturstudie och med en enkät, det vill säga en kvantitativ metod. Resultatet av undersökningen har visat att de flesta kunderna känner sig trygga när de handlar på Internet.

In this Bachelor thesis I am going to look at attitudes towards political violence in a small town in Sweden in the 1920s. The town I have picked for this study is Kalmar situated on the east coast of Sweden. This study is a micro historic case study. The specific case is a strike at the city?s water and gas plants for higher salary.

Syftet med denna uppsats a?r att underso?ka Bitcoins egenskaper och funktioner samt diskutera dess eventuella pa?verkan pa? dagens ekonomiska system. Den forskning som publicerats pa? a?mnet underso?ker fra?mst tekniska och sa?kerhetsma?ssiga detaljer, det a?r da?rfo?r intressant att analysera ur en ekonomisk synvinkel. Genom att anva?nda makroekonomisk teori ska jag fo?rso?ka klargo?ra om Bitcoin kan konkurrera med dagens valutor.

New high strength steels require improved cold rolling techniques. The aim of this degree project was to develop a new and money saving cold rolling technique to manufacture steel strip for saw blades. The work is based on earlier rolling experiments made with a high carbon steel grade at LuCoil Steel AB. The work also focused on the mill requirements to cold roll high strength steels. The results show that LuCoil?s existing cold rolling mill was actually designed for rolling low carbon steel.