This paper examines how companies in a transparent industry work to satisfy the customer in an extended way, to offer value added products that in the end enables the customer to be loyal to the company. We have studied the insurance industry in Sweden and have focused on five different insurance companies. Four of them, Folksam, Länsförsäkringar, Trygg-Hansa and Dina Försäkringar, where we have focused on Ölands Försäkringar which is part of the Dina Försäkringar group, are some of the largest insurance companies in Sweden. The fourth company is Swedbank which is a bank that has started to offer insurances.Our results demonstrate that it is important for the company to see the customer not only in a profitability aspect; the company has to find out what the customer gets in return. In that case the possibility for the customer to change company decreases and the chance that the customer becomes loyal increases.

In this thesis we study the development of post-earnings announcement drift (PEAD) in the Swedish equity market from 2000 to 2009. By forming portfolios based on the stock price reaction to quarterly reporting we show that the characteristics of PEAD have changed. We demonstrate that negatively surprising companies show a positive drift during a holding period of six months sufficiently large to render the trading strategy unprofitable. This development holds from 2005 and onwards and these results contradict many a study which finds the same portfolio construction to be indeed profitable. We argue that this development is a trend that will not only affect our study but future studies as well..

This paper studies the option market?s implied dividend as a predictor of future equity market returns. We introduce this variable in the simple total return framework and discuss some complications of using it as a proxy for the expected dividend. We construct some regressions using the price-dividend ratio and the implied dividend growth, and test them on six years worth of data on the EURO STOXX 50-index. The main result is that implied dividend growth exhibits some forecastability over two-year horizons, but that the dataset is too short to draw any definitive conclusions about long-horizon forecastability.

Problem: The question is if investors falls into psychological decision traps when they are about to make an investments decision. Research in other areas suggests that this may be case. The reason is that they are not aware of that psychological decision traps exist. If so, it can lead to pernicious consequences for the return on the portfolios they manage. Purpose: To investigate if investors fall into four different psychological decisions traps: anchoring, confirming evidence, overconfidence and regression towards mean, at investments in IPOs Method: We have collected data through a form of experiment.

This thesis studies the stock price reaction around 68 announcements of special dividends and share redemptions on the Swedish stock market between the years of 2003 and 2007. We show that for the Swedish private investor, the tax effect of a share redemption is lower than that of a special dividend. Moreover, a share redemption could be interpreted as a signal of undervaluation. These two factors lead us to assume that the stock market would react more positively in connection to the announcement of a share redemption. We test this hypothesis through an analysis of the risk-adjusted abnormal return for the observations in the sample.

När en recessiv sjukdom studeras i en släkt används jämförelser av familjemedlemmarnasarvsmassa. Med hjälp av datorsimuleringar som utgår från modellering av arvsförloppet kan information erhållas om hur mycket arvsmassa individerna har gemensamt.Denna information kan vara till nytta vid en fysisk kartläggning av individernas genom.I detta projekt har ett Java-program konstruerats som på ett verklighetsnära sättmodellerar arvsförloppet. Tillsammans med Java-programmet har ett mer teoretisktresonemang genomförts och implementerats i MATLAB, i syfte att få referensdata.Java-programmet har använts för att undersöka den genetiska likheten mellan besläktadeindivider. Informationen som erhållits har använts för att approximera fördelningarför individernas genetiska likhet. Utifrån dessa uppskattningar fastslås att fördelningarnahar relativt låg varians på grund av genomets extensiva totala genetiska längd.Det konstateras att individernas könskromosomer bidrar med skillnader i medelvärde.Dessutom fastställs att mäns och kvinnors olika genetiska längder bidrar med skillnaderi varians..

Who would not like a profit of more then 95 % in a day? Investors in Sweden had thatopportunity, if they had bought a certain stock on the primary market and sold it on the firsttradable day at the Stock Exchange. Most of that profit fell into the hands of institutionalinvestors. The reason for this extraordinary profit was the underpricing of that specific stockduring its initial public offering (IPO).Our report aims to analyze the relationship between offer price, underpricing and theownership structure of stocks. Our investigation is based on all IPO?s on the Stockholm stockexchange during the years between 2000 and 2005.

This paper?s objective is to investigate whether Modigliani and Miller (MM) I & II proposition from 1958 with regard to capital structure, is still valid among public Swedish firms.We have chosen the 63 firms on the Stockholm Stock Exchange (OMX) that Affärsvärlden magazine?s general index (AFGX) has categorized as industrial firms. We based this selection on the assumption that these firms are relatively capital intense and have a clear focus on production and, therefore, mainly uses capital structure as a mean to finance their production and not as a means in itself.To be able to fully evaluate these firms we have calculated the current key ratios based each firm?s annual report. To make the figures comparable across the entire population we adjusted them to each firm?s turnover.The results we have reached concur with MM?s proposition I regarding capital structures independence of the firm value.

The aim of this paper is to examine venture capital in football player contracts in Sweden. This is a phenomena that have existed in Sweden since 1999 when the company Djurgården fotboll AB was founded, since then eight other companies have been started. These companies form an alliance with a football club and invest in player contracts. These contracts have high risk since it is valued by the performance of the contracted player. The venture capital firms have no formal control over their investments and they are showing negative results.

In today's society there are a lot of offers towards consumers, where they actively have to choose the most appealing offer. In order for an offer to be attractive it must add value in line with the customers demand. Also, it requires that the offer provides a sufficient level of attraction so that the customer selects the particular product/service over another. Furthermore, each offer must exceed the expectations of the visitors to an event, so they feel that the event is something "extraordinary". We have chosen to study how LHC (Linkoping Hockey Club) works with marketing in order to improve the overall customer experience.

Denna studie har undersökt huruvida det är möjligt att på Nasdaq OMX Stockholm generera systematiska överavkastningar i samband med att aktier börjar handlas exklusive rätt till utdelningar. Samtliga utdelningstillfällen har undersökts under perioden 2007-2011 vilket givit en total observationsmängd på 699 stycken tillfällen. Genom att ha tagit hänsyn till eventuella marknadsfluktueringar och vikta dessa med bolagets unika risk, i form av betatal, har resultaten även justerats för normalavkastningar under den undersökta dagen. Resultaten från Large Cap, Mid Cap samt Small Cap har sedan jämförts. Resultaten visar att överavkastningar är möjliga under dagen då aktien slutar handlas inklusive utdelning, samt att effekten är större för de mindre bolagen..

Syfte med detta arbete är att undersöka huruvida avkastningsberäkning för en datalagerinvestering bör göras, hur det kan göras och om det görs. Vidare avses att undersöka om generella kalkylmetoder kan användas av företag, oavsett storlek, som avser att starta datalagerinvesteringsprojekt. Datalagerteknologin har ännu en hög utvecklingstakt och detta medför ofta höga utvecklingskostnader i samband med investeringar inom datalager.Undersökningen baseras på en kombinerad dokumentstudie och enkätundersökning. Dokumentstudien belyser den problematik vilken förknippas med problemområdet. Enkätundersökningen fokuseras mot olika större organisationer såsom banker, post och dagligvaruhandeln, vilka idag använder sig av datalager.

Huvudsyftet med uppsatsen är att se hur ett företags annonsering om återköp av aktier påverkar dess börskurs i Sverige. Som delsyfte kommer även en undersökning göras om huruvida reaktionen skiljer sig mellan olika branscher samt om Sveriges reaktion skiljer sig från den tidigare forskningen i USA och i Storbritannien. Undersökningen har genomförts med hjälp av en eventstudie där den abnormala avkastningen beräknas. En intervju utförs för att bekräfta resultatet.Resultatet gav en sammanlagd kumulativ avkastning på 0,57 %. Det visade även att det finns en skillnad mellan olika branschers reaktion på en annonsering av ett återköp.

Between 1860 and 1940 approximately 1,1 million Swedish citizens emigrated to North America. But over 200 000 of them returned to Sweden. In this essay I have tried to estimate the impact of these people on the Swedish society. To make a deeper analyze possible, I have studied the parish of Glima?kra in southern Sweden and tried to trace the immigrants? lives after their return to Sweden and thus estimate their impact on society.By statistical analysis of migrants between Sweden and USA and between the parish of Glima?kra and USA I have concluded that the result can be used as a model for Sweden on a national basis.

This thesis aims to investigate if there are any differences in the value relevance of yearly earnings announcements before (2000-2004) and after (2005-2009) IFRS were implemented for listed companies in the European Union. To assess the value relevance of earnings, an earnings response coefficient (ERC) is estimated using a linear OLS-regression model. The regression model uses accounting earnings per share as the explaining variable, with the corresponding return starting from (but not including) the previous year's earnings announcement date, ending at (and including) the current earnings announcement date, as the dependent variable. This study finds that there is no statistically significant difference between the estimated ERCs for the two periods. Although no statistically significant difference is found, data shows that the R2-values, which measure the explanatory power of the regressions, are higher for the period before IFRS.