Stock lending is primarily a professional activity. The supply of stocks in the lending market comes mainly from pension funds and insurance companies, while intermediaries provide valuable services by taking positions as borrowers as well as lenders. Borrowers use stock lending for various reasons. For instance, hedge funds usually borrow stocks to cover a short position. There has been a lot of controversy in the stock lending industry and the debate has mainly concerned its effects for the stock markets.

Previous research has shown that the market reacts on stock recommendations. As the Internet has made financial information more available and cheaper to assess one could believe that the market reflects more available information today. If this is true the market will react less on recommendation made by journalists, which generally consists of processed public information. The stock market should thus be more efficient according to the efficient market hypothesis. This study examines initially if we can conclude that stock recommendations made by journalists generate returns above the expected returns, hence abnormal returns.

Root rot causes large economical losses for Swedish forestry. The spread of root rot can partly be prevented by treating the spruce stumps in thinnings. Late pre-commercial thinning (PCT) is one of the forestry measures where stump treatment is not used. Late PCT can be defined as: The act of cleaning the stand with the aim of improving accessibility and sight within the stand, and so to increase the mean stem´s volume during the first conventional thinning. The aim of this study was to examine how late PCT is performed, its spatial extent and if it aids the spreading of root rot. The study was limited to encompass late PCT before first conventional thinnings in spruce stands in southern Sweden. Samples of spruce stumps were taken from four stands where late PTC had been carried out.

Powder Metal (PM) gears are machine element components which operate under the same principle as conventional gears, but, due to their intrinsic material characteristic need to be designed slightly different, and its manufacturing process offers advantages previously unobtainable by conventional steel gear manufacturing methods. The use of PM in similar applications, such as synchronous hubs, makes them a suitable candidate for production in such material. The current master thesis work focuses on gear design using PM by utilizing finite element method (FEM) to reduce weight and inertia taking into account root bending strength and tooth deflection.First a topological optimization is used to determine feasible candidates for different web designs which have as objective to reduce volume, similar topologies were shown during different loading conditions; and hence, this topology was chosen as a suitable candidate. A shape optimization of the topological candidate was performed having as state variables root bending strength, independent for compressive and tensile side of the tooth loading; and tooth deflection, which in concept can be correlated to static transmission error (TE).Another aspect in this thesis analysed is the possibility to incorporate non-trochoid root geometry, a trochoid root is always present when machining with a hob, into the gear root and hence reduce the stress concentration here. Due to the use of PM, a non-symmetric optimized root can be achieved and hence be optimizing compression and tension.Results showed significantly lower inertia, for example certain results showed 40% reduced when compared to solid gear, with adverse effects as increase in tooth deformation and increase in maximum principal stress.

The swedish rule concerning the treatment of employee stock-options have changed and the new wording of the rule will be applicable for the first time in 2010. The previous wording of the rule stated that the employee shall be taxed for the stock-option when moving abroad, even if the option is not exercised. The Swedish Skatteverket and Regeringsrätten have found that this rule is in conflict with the free movement of persons within the European Union. The new wording of the rule states that the employee shall be taxed when the option is excercised, no matter where the employee is situated. A state`s right of taxation of a stock-option determines wheter and to what extent the employee stock-otion derives from that state..

Denna studie undersöker ifall det förekommer earnings management (EM) vid stock-for-stock-förvärv på den svenska marknaden. Tidigare forskning har gett tydliga tecken på att EM sker inför företagsförvärv och det finns starka incitament att använda sig utav det. Detta undersöks genom att studera om det sker en ökning av diskretionära periodiseringar, som mäts genom Modified Jones Model, åren innan förvärvet till skillnad från tidigare år. Studien undersöker även om målföretagets relativa storlek har en påverkan på EM. Undersökningens resultat från första hypotesprövningen indikerar att EM förekommer i svenska bolag redan tre år innan stock-for-stock-förvärv.

Background: Low Price-Earnings ratio, low Book-to market ratio and low stock prices can give the impression that a stock is ?cheap?. Is it through systematic use of these portfolio strategies possible to beat the market index ? in other words does financial illusions exist? Purpose: To examine if the Stockholm Stock Exchange is an efficient market. Limitations: The efficiency is tested solely through the chosen portfolio strategies: low Price-Earnings ratio, low Book-to-market ratio and low stock prices.

There is always an endeavor to govern the initial products in the plant cultivation with precision in order to keep down the expenditure and in order to decrease environmental impact. Initial phosphorus fertilizer can then be one possibility in order to keep down the fertilizer cost and to decrease environmental impact. This exam study includes a literature study about location of fertilizer and which effects this give and two field experiments. The aim with initial phosphorus fertilizer to autumn wheat is to accelerate the root growth and to give the crop a big root system before the growth stagnates before the winter. Easy to access phosphorus favours the root growth.

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.

The purpose of this Bachelor thesis is to analyze if there is a correlation between stock prices and the amount of searches of the companies names on Google. The theories used in the study were Capital Asset Pricing Model (CAPM) and Efficient Market Hypothesis (EMH). Regressions analysis is used as the statistical method to see if there is a significant correlation between the stock prices and the amout of searches of the company name on Google. The data used were the rate of return of three companies (ABB, Oriflame and Sandvik) on the Nasdaq OMX Nordic stock market, the rate of return of the Nasdaq OMX Nordic stock market index (OMX Stockholm_PI) and the Google search frequency from Google Trends on each company. The result showed no significance and the conclusion of the thesis is that there is no significant correlation between the three studied companies and their search frequency on the search engine Google..

The demands for higher production yields and better quality materials from the forests are increasing globally. Tree breeding programs are directed to meet the future demands on forests. In order to capture the full benefits from the breeding programs, clonal propagation is necessary. For most conifer species, somatic embryogenesis (SE) is the only available option for large scale clonal propagation of Elite clonal material. For Norway spruce (Picea abies L.

Forest as an investment alternative has become more and more popular over the last few years. Between the years 2004 and 2007 increased the price level on forest land with 70 percent in Jämtland. In this thesis a comparison has been conducted between forest in Jämtland and an investment in the stock market. The risk in the two investment alternatives has been included in the comparison. The thesis includes two different studies between the two alternatives.

The objective of this study was to get a better understanding of how the cultivation methods influence the vitality in Prunus avium. The purpose was also to examine if there was any differences in shoot growth and trunk expansion depending on the method of cultivation. To find the answer to this question a literature study and a case study has been done. The literature study concerns the concepts vitality and stress. Different definitions of these concepts are shown and their connection whit establishment is explained. In the background the species Prunus avium, and the four method of cultivation that are included in this case study are described. Measurements of the shoot growth and trunk expansion were made in this study, and as a complement to these methods, a visual estimate of the vitality was made.

The implementation of IFRS 2 led to significant changes in the accounting practices for corporations regarding stock related compensation. The new regulations required firms to account for the stock based compensation as an expense in the financial statements, rather than merely disclosing the information in the notes section to the statements. Following prior research on the area; specifically studies made in the U.S., where researchers find that companies change their use of stock based compensation due to the increased accounted expenses, this study hypothesizes that the same pattern may be found among companies listed on the Swedish stock market. The results of this study show that the use of option incentives has decreased during the studied period 2001-2008 and that the decrease in part can be derived from IFRS 2 and in part from other factors. The results are useful to future research, as they provide an overview of the effects that IFRS 2 had on companies, and various factors that influence the behavior of corporations, as well as in a larger perspective be a factor to take into account for future modifications of the IFRS..

This study is based on an ongoing debate regarding the Stockholm Stock Exchange, which centers around the possible abolition of quarterly reports. The purpose of this paper is to contribute to this debate by examining how the relationship between financial reports and stock price correlates. The study's methodological approach is based on the Capital Market Research frame-work in which an ERC model and an extended model are used to measure the relationship. Three hypotheses were formed to categorize the direction of the study, these categorizations treats the differences in impact between quarterly and annual reports on stock price, as well as differences in impact as a casual effect of company size and seasonal sensitivity. The results of the study show that quarterly reports have a stronger impact on the share price than annual reports.