An efficient market implies that the use of fundamental analysis should not result in excess return, and that any return exceeding the market average can be explained by compensation for risk, accord-ing to The Capital Asset Pricing Model (CAPM). The focus of this study is to test whether the suc-cessful investment strategy developed by Piotroski (2000) generates excess return on American data, after risk adjustment by using Fama & French?s (1993) 3-factor and Carhart?s (1997) 4-factor CAPM. Initially we form stock portfolios based on companies characterized by high book-to-market values, additionally, we divide them into different performance classes by ranking them with Piotroski?s (2000) measure of financial performance, F_SCORE.

The purpose of this paper has been to study how users experiences and behaviors are influenced by a "like" function, when publication of images in social media with the photo app Instagram as the selected base. In this study respondents has been part of a study regarding their experiences and behavior related to "like" function in Instagram. The results of the question form have then been analyzed to find patterns in their behavior and to exemplify/reinforce different type of user-behavior found in related scientific articles.The study has shown that the behavior of Instagram users is affected by the "like" function, when they believes that the function is a status marker that raises the interest for certain users by the number of likes. Through my results, I have been able to amplify and illustrate several theories of Goffman, Buckingham and Gripsrud which are presented in the report..

Bakgrund: Under 1900-talet skedde flera teknologiska framsteg och Relevance Lost-debatten förändrade synen på den traditionella ekonomistyrningen. De två målstyrningssystemen, det balanserade styrkortet och Hoshin Kanri, anses delvis besvara kritiken samt möjliggöra för företag att implementera sina strategier. Begreppet målkongruens beskrivs på olika sätt av olika författare, varför begreppet är intressant att undersöka samt hur målkongruens kan uppnås i företags planeringsprocesser.Syfte: Syftet med denna uppsats är att beskriva planeringsprocessen i målstyrningssystem samt att förklara hur målkongruens uppnås. Vidare är syftet att precisera begreppet målkongruens samt formulera en metod för att stärka målkongruens.Metod: För att uppnå uppsatsens syfte har två fallstudier gjorts med två företag som arbetat med att implementera och utveckla arbetet med ett balanserat styrkort och Hoshin Kanri. Tre intervjuer har genomförts på respektive företag med personer med god insyn i och erfarenhet av arbetet med målstyrningssystemen det balanserade styrkortet och Hoshin Kanri.Resultat: De båda målstyrningssystemen är mycket lika.

Abstract: Title: Communication of and around internal performance reports - A study in seven manufacturing companies based in Blekinge. Authors: Marcus Harrysson and Mikael Johansson. Supervisors: Lars Svensson and Carina Svensson, Blekinge Institute of Technology Department: Department of Business Administration. Course: Bachelor thesis in Business Administration, 10 credits Purpose: Our purpose with the bachelor thesis was to investigate if there is a connection between communication of and around internal performance reports and profitability in companies. Method: Our investigation has been made at seven companies in the county of Blekinge by making personal interviews with people in both production and business departments at each of the companies. Result: We have come to the conclusion that there is a connection between communication of and around internal performance reports and profitability. Sammanfattning Titel: Kommunikation av och runt interna ekonomiska rapporter ? En studie i sju tillverkande Blekingeföretag. Författare: Marcus Harrysson och Mikael Johansson. Handledare: Lars Svensson och Carina Svensson, Blekinge Tekniska Högskola. Institution: Institutionen för Ekonomi och Management Kurs: Kandidatarbete i företagsekonomi, 10 poäng Syfte: Syftet med kandidatuppsatsen är att undersöka om det finns ett samband mellan kommunikation av och runt interna ekonomiska rapporter och lönsamhet. Metod: Vår undersökning har gjorts i sju stycken Blekingeföretag genom personliga intervjuer med representanter för både ekonomi- och produktionsavdelningen på varje företag. Slutsats: Av vår undersökning drar vi slutsatsen att det finns ett samband mellan kommunikation av och runt interna ekonomiska rapporter och lönsamhet i företag..

The purpose of this study was to create a picture of Södra´s round wood transporters usage, and positive or negative experiences of the KOLA-system. The KOLA-system, owned and managed by SDC, is a program for handling timber orders and displaying their locations on digital maps. The study was conducted as a twenty-three question internet-based survey. Of those asked to complete the survey, 57 percent chose to answer the questions. The results of the study indicated that several of the transporters found the system quite good and used it to a large extent. The system also had many deficiencies however, and there was clear potential for further increasing the usage of the system.

Test bench for air bearingsThis thesis work consisted of bringing forward and defining the test parameters relevant for a test bench and constructing a test bench that can test and verify the largest existing air bearings that are of use in Micronic Laser Systems AB machines. Because the knowledge about air bearings is limited it is thought that with the help of the test bench the knowledge would increase and in that way improve the air bearings.After learning more about air bearings and their purpose at Micronic Laser Systems AB, I started the concept phase for the test bench. For each part in the test bench I consulted my two tutors, Torbjörn Hedevärn and Johan Bergqvist, at Micronic Laser Systems AB. The final concepts where documented as 3D-modells in Solidworks and some of them have been tested in Solidworks FEM-program.The test bench is designed so that, with the help of a pneumatic cylinder, 25 kilo weights are placed on the air bearing to test its stiffness, damping and the pressure performance under its surface area. To test these parameters the test bench has to have a pressure meter, accelerometer and a microcator.

In this study I will analyze how men who buy sex interact with one another on two different Internet communities: ?Sekreterarakademin? and ?Flashback?. This analysis is carried out in an attempt to challenge the conventional image of the man who pays for sex.The aim is to examine the role of Internet forums for men who buy sexual services related to cross-border, both in terms of standard borders, gender boundaries, boundaries of sexuality and masculinity. I will also attempt to investigate what opportunities that are available to overrun different borders and how these opportunities affect the conditions of the various players. I will evaluate theories such as homosocialtet, hegemonic masculinity and normalization used by KAST (Köpare Av Sexuella Tjänster, the Swedish public support for clients of sexual services) and which are partially consolidated in studies published by KAST concerning issues related to internet based prostitution..

The purpose with this study is to compare different systems of grain storage from a financial point of view. Grain that is supposed to be fed to laying hens. The systems that were compared were different airtight storage of grain and a system of conventional storage. To make this case study I choose to compare four different systems. In the case study there was one system with bin drying of the grain, two systems with airtight storage of the grain and one system where you buy dried grain during the season. I made several of capital investment appraisal where I found the cost of each system, then I took the cost and divided it with the total grain use and calculated the cost for each kilogram of grain, and also the cost of the feed. Then I compared the cost from my case study with the cost of buying feed. All the systems except for one, gave a lower cost for the hen feed than buying feed from a dealer The best system, witch were bin drying lower the cost with about 80 000:- SEK.

AbstractThis master thesis is a hermeneutic inspired case study of how the value base regarding the environmental and social responsibility in the Swedish coffee company Löfbergs Lila AB is affecting the company's business. A thesis inspired by hermeneutics means that it is based on two ideas, the one of interaction between entirety and partitions and the one of interpretation (Alvesson & Sköldberg 1994). This cause that the emphasis is on how the reality is interpreted and that it never can be seen as completely objective.The case study was conducted during the spring semester of 2010 at Karlstad's University and consists of both empirical and theoretical material collected during this time. The empirical material in this thesis includes, among other things, interviews with four representatives of Löfbergs Lila AB, written material from the company regarding its work related to Corporate Social Responsibility (CSR), some information about the coffee industry as a whole and different certifications for "ethical? coffee that exists on the Swedish market.The basic idea with CSR as a business strategy is that it can be financially beneficial for companies to take a social and environmental responsibility outside of the company (Vogel 2005).

The aim of the current study was to highlight the social service work with domestic violence against women. In this study, we examined whether there was a difference in the way the social service works and if their effort differ in terms of domestic violence. Moreover, this study investigated how social workers work to prevent future violence against victims also what method they use to find out the causes behind men?s violence against women.A total of four administrative officers were interviewed from two different municipalities. All four officers were actively working with questions concerning domestic violence against women.

This essay compares the public debate in Sweden 1992 caused by the reforms introduced by the then government giving parents a free choice of schools for their children with the current debate in France about proposals for a similar law there. The study concentrates on the positions taken by the teachers trade unions, in Sweden Lärarförbundet and Lärarnas Riksförbund (LR) and in France SGEN-CFDT. To do so it is necessary also to study the arguments given for and against the proposals by the political parties.Some of the differences between the debates can be attributed to different circumstances. The Swedish reform was related to the opening up of possibilities to run private schools, which previously had been rare in Sweden. The French debate has no such connections.

The Thesis purpose is in the context of system development validate the Scrum Methodology. Projects concerning information technology are difficult to manage and tend to fail in quality, time or costs. Scrum presents a new view of the system development. Better cooperation between customers and developers, continuous follow-up on daily basis and extensive communication in the development team are all characteristics of Scrum. Scrum is described as a new paradigm by its founders but has been criticized by experts of system development too.

Few would disagree that the media landscape has undergone significant changes the last decade. From bulky computers and plain mobile phones to portable High-Definition computers and multi-functional smartphones. Other media, such as newspapers and music, have evolved and prospered in a digitalized environment. The constant urge to digitalize aspects and functions of our daily lives seems almost instinctive. Television has taken further steps into this environment as it is now accepted and featured via the Internet.

This thesis is based on an assignment from a unit within an international group manufacturing industrial products. The purpose of the thesis is to analyze and suggest ways to improve the cost accounting system in use at the unit. The main source of empirical data has been interviews with employees. The theoretical framework is based on a comparison between traditional/standard costing and activity-based costing (ABC). The cost accounting system in use is described in detail and classified as a traditional/standard cost accounting system.

In order to optimize calf welfare and health it is important to know the behavior of cattle in free ranging conditions. When the cow is about to give birth to a calf she will leave the heard about 12 hours before. It is then rather obvious that isolating the cow about calving time in a single pen is imitating the cows? natural behavior. To save space and minimize building cost it?s common that the farmers build calving pens for four of five cows especially at larger farms.