This thesis examines underpricing and the long run performance of IPO firms on the Swedish equity market during 1994-2010. We further investigate whether any correlation exist between underpricing and post-IPO performance during 36 months. We use a sample of 80 IPO firms. To examine the aftermarket performance we compare total return of each firm with a matching industry index. In order to strengthen our analysis, we run a second test, comparing actual return for each firm with expected return, adjusted for firm specific risk.

This thesis aims to open the Pandora?s Box of hedge fund styles through an index-based style analysis. This information asymmetry is due to both less strict disclosure requirements and inherent nature of hedge funds. We employ a multiple unconditional linear regression model wherein 23 Swedish hedge funds are regressed on 10 style indices. In addition to the increased interest in hedge funds and their performance drivers, our unique approach with regressing return on return motivates this study.

This study analyzes 66 Swedish actively managed mutual funds investing in the Swedish stock market during the period 2005-2014. The purpose is through pooled data regressions analyze the relationship between both the mutual fund?s annual fee and risk-adjusted return to the fund?s characteristics. The characteristics of the study are the size of the fund's assets, age, if the fund is bank managed or not, Tracking Error, and standard deviation of return.By using the performance measures of CAPM, Fama and French 3-factor model, and Carhart?s 4-factor model monthly risk-adjusted returns are created for all funds over the period.

Return handling is often regarded as a slow and complex process. Studies have shown that it is not unusual for a return to cost up to nine times as much as a standard outbound delivery. An efficient return handling process is therefore essential to all competitive companies dealing with logistics. This report investigates, analyzes and gives suggestions on development with the purpose to improve the return handling process at LensLogistics AB in Kista, north of Stockholm, Sweden. The study has been conducted from a deliberately practical point of view in order to suggest improvement suggestions possible to implement and thereby change the entire return handling process.

The aim of this study was to examine how individuals with disability pension reason about a return to work. Action theory, as presented by Berglind, was used as theoretical approach. Qualitative interviews were conducted with five individuals who have disability pension due to mental illness. The respondents describe how they weigh benefits and disadvantages against each other. The main reason for a return to work is economical.

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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..

This study is based on a statistical analysis of fundamental key ratios on the Stockholm Stock Exchange during the period 2004-2012. In total 35 financial ratios of 90 companies were tested, ultimately five ratios remained within the 5% significance level. These ratios were ROA, P/B, Total Yield, EV/EBIT and Operating Margin. A custom made investment model was created based on the purpose to achieve a risk-adjusted excess return. The results in general did not show any significant difference in return between the model's portfolio and index.

Since the year of 2000 it has been legal for companies in Sweden to repurchases their own stocks. The purpose of this study is to examine if it has been possible to make a positive abnormal return in Stockholmsbörsen by buying stocks in companies that has announced a buyback program. Our study includes 59 companies that have accomplished a buyback program throw the years of 2000 to 2006. To calculate the abnormal return we use the BHAR method with Affärsvärldens generalindex and branchindex as benchmarks. The result shows a significant positive abnormal return of 23,56 percent the first 12 month after the announcement with Affärsvärldens generalindex as benchmark.

Nearly 74 percent of the Swedish population invests in funds and the options are therefore various. The Swedish private investors can choose between active and passively managed funds. Fund managers, who seek to generate higher returns than the market, manage active managed funds. Unlike the active managed funds, passively managed funds do not require any active investment decisions.Fama?s (1970) efficient market theory reflects all available information in the stock price, therefore it is not possible to predict how the stock price changes.

A multivariate cross-sectional model is used in this thesis to proxy for expected earnings and to estimate return on equity for 214 companies over the period 2009-2013, using Swedish data. The model, which has never been tested on Swedish data before, is first confirmed to function as a forecasting model for expected return. Furthermore, the model is evaluated through a comparison with two univariate models based on the assumption that return on equity follows a mean reversion process. Forecast accuracy is calculated as the difference of estimated returns and actual returns. The results show that the univariate models' forecasts are superior to the multivariate model's..

Background and problem: Higher and other demands are made on management control systems in organizations which have a superior non-financial objective. Systembolaget, a state-owned company with monopoly to sell alcoholic beverages in Sweden, combines two main objectives which can be considered as conflicting, one financial target and one superior non-financial public welfare target. The research questions are focused on the translation of information through the organization?s levels and if the management control system makes it possible to run the organization according to both of the two main conflicting objectives.Purpose and Delimitations: To describe, analyze and evaluate how management control can be used in an organization, which is not profit maximizing and has both non-financial and financial objectives. The essay does not try to describe or draw generalized conclusions regarding general perspectives on Systembolaget?s assignment and objectives.Method: A qualitative and evaluative case study based on interviews with five employees at different levels in Systembolaget has been carried through.

Master thesis for Mechanical engineering, at the University of Lund. Incorporated in project Pondora.The purpose of this master thesis is to compare the existing one way packaging system with a proposed return crate system not yet available in Sweden. The comparison is focused on packaging handling in the grocery store.The purpose is also to investigate how operating return crate systems in Norway and Finland function, identify, the problems they have encountered and survey economic and technical aspects. The knowledge we hereby have acquired was subjectively evaluated in the thesis.The Swedish survey has a focus on meat and bread. The surveys in Finland and Norway contain all the products utilizing the studied return crate systems.We have surveyed how the handling of transport packages for meat & provision and bread is done in the store.

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.

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.