Uppsats för avläggande av filosofie kandidatexamen i Kulturvård, Trädgårdens hantverk och design, 22, 5 hp, 2015.

Trading financial securities at stock exchanges and other authorized market places is today a particularly important socioeconomic phenomenon in many industrialized countries. A well functioning securities market is crucial for the economic development in these countries. The modern trading with stocks and other financial securities is characterized by the fact that the majority of the transactions at the stock exchanges are carried out through various intermediaries. The ultimate counterparties that are involved in a securities transaction (the seller and the buyer) are often unknown to each other. The anonymity in the securities trading implies several interesting legal problems.

Small companies have fewer resources which often result in an tendency to disregard  administrative tasks. A factor that influences the company?s revenues is the control of its inventories. The purpose of the current study was to analyze which of the two options, leasing or owning your inventory, that could be justified from an economical perspective. Furthermore, the purpose was to describe the optimal inventory level for each option. To meet these objectives representatives for the company was interviewed and a thorough investigation process was undertaken, during which methodological problems were solved.  It was found that leasing the inventory was the most expensive option for the company. Analysis demonstrated that optimal turnover inventory according to EOQ (Economic Order Quantity) would amount to 65,0 thousand Swedish Krona if the company leases their inventory in comparison to 56,0 thousand Swedish Krona if the company owned their inventory.

Background: Oil is the most dominating source of energy of today, it constitutes for more than 40 per cent of the worlds total energy consumption. This together with the fact that stock in oil companies has soared on the stock exchanges around the world makes oil a very interesting topic to write within. In order to gain knowledge in how to value oil companies, the authors will collect information from theory and through a questionnaire. By applying the information gathered to three companies listed on the Stockholm Stock Exchange the authors will reach an objective picture of valuation of oil companies.Purpose: To investigate how shares of stock are valuated in the oil exploring and producing industry, and what specific measures and metrics that are used in the valuation of stocks in Exploring and Producing (E&P) companies.Method: By using a qualitative approach for this thesis, the authors will investigate how the valuation of oil companies works and what measures that should be applied. The authors will use a part descriptive and part explorative study.

The study tries to increase the understanding of the phenomenon known as the Big bath, on the question whether the market accepts Big bath accounting principle or not. Big bath is an accounting theory meaning that a company is likely to increase its impairment in a specific year. This could be as a reaction on a change in the leadership, a depreciation of the result or maybe an external decrease in demand. Through a quantitative survey of the market it is examining whether the companies themselves are inclined to use the procedure and if the stock market accepts it. The study concludes that Big bath similar procedures are a fairly common accounting practice and that the stock market does not seem to mind. .

BackgroundA cost that lately has been discussed related to audit is the higher cost for auditing of small stock company. The question is if this cost is higher than the total utility of statutory audit and should it in that case be statutory. SRF says that the condition for small stock companies development is an abolishment of statutory audit. FAR consider that auditing is important for development and continuation.PurposeThe purpose of this paper is to investigate whether there are any winners or losers among auditing firms and accounting firms in Sweden if the statutory audit for small stock companies abolish.MethodThe paper is both a qualitative and a quantitative study that is based on primary data made from an interview and a questionnaire investigation. ConclusionOur conclusion is that the big Winner is the accounting trade.

The objective of this thesis is to explore opportunities to enhance the phosphorus use efficiencyof inorganic fertilizers in crop production, with techniques available today and in thefuture. Phosphorus is a finite resource of declining quality; therefore a phosphorus use efficiencyin crop production of only 15-30 % is unacceptable. The main reason for low efficiencyis the retention by Ca and Mg in calcareous soils and Fe and Al in non-calcareoussoils. Due to the low mobility of phosphorus, plant uptake is mainly dependent on root growthrather than diffusion. Therefore, measurements need to be taken that benefit contact betweenroot and fertilizer, before fertilizer phosphorus becomes unavailable to the plant.

Delia flies (Diptera: Anthomyiidae) are economically important pests in several horticultural crops. The control is commonly relying on chemical insecticides, though there are possibilities with biological control from the natural enemies in the field. An important natural enemy is the parasitic wasp, Trybliographa rapae Westwood (Hymenoptera: Figitidae) that lays eggs in the Delia fly larvae. The parasitoid larva and the host larva have a parallel development until the host dies within its puparium and an adult parasitoid emerges. The aim of this thesis was to understand the attraction to host- and food-associated plant volatiles of T. rapae, in order to enhance the effectiveness of the parasitic wasp as a biological control agent.

The first of the dual purposes of this work has been to describe the research that has been done regarding the root causes of terrorism and second, using a general causal theory and examining the political dimensions of it, to discuss whether or not general causal theories (grand-theories) are helpful for researchers and policy-makers when reacting to social developments in the form of terrorism. The essay is a qualitative literature analysis and I have based my studies on mostly new books treating root causes of terrorism. I have concentrated on discussing international terrorism and how political dimensions may impact the occurence of this form of political violence. The conclusions I have made is that there is no widespread consensus among researchers and scholars as to what really causes terrorism. Neither can the general model examined in chapter 5 be used to predict when and where terrorism will occur next.

Today, there are a number of different models and methods used to estimate the equity value of a company. A common tool for valuating stock prices is the usage of different multiples. This is a method used to determine the value of a company, by examining and comparing the financial ratios of relevant peer groups. The disadvantage with this method is that it does not take all the important aspects, such as risk, investments and capital structure, into consideration. However, this study investigates if the key value, called discounted cash flow (DCF), can be integrated with the valuation of the multiples.

Background: The value of stock recommendations have been debated for a century andthe debate has escalated since Alfred Cowles (1933) published his research in ?Can StockMarket Forecasters Forecast?? As of late, savings in stocks has increased and the householdsare managing their savings more actively. The consequence of the increased interestin stocks has resulted in a growing market for stock recommendations. Not just financialmedia but daily newspapers have embraced this new found interest, hence stock recom-mendations can be found in almost all large newspapers in Sweden. Furthermore, this phe-nomenon has also lead to intensified research within stock recommendations.

This paper treats the question about how the internationally established company, Apple, is affected by intern or extern events when it comes to the trade market. The purpose of the study is to investigate if chosen events create abnormal return on Apples stock market. The chosen research area is Steve Jobs three sick-listings, It-bubble and the purchase of the search engine company Siri. The reason of writing about this is the big interest for the stock market and its function.This study methodological starting position is quantitative done by an event study, with qualitative feature done by an interview with an expertise within this area. When analyzing the empirics, we have used the efficient market theory that says that information should not affect the stock market in the degree that abnormal return creates.

There has been an increase in the importance and amount of information concerning publicly traded stocks in recent years. When analyzing and valuing stocks finding new ways of collecting information has therefore increased in importance. This thesis aims to explore how meetings with management can impact the stock valuation done by the security analysts. Furthermore the case study examines what kind of information analysts can receive by interpreting management at these meetings. This case study of ten Swedish security analysts show that the analyst?s stock valuation is directly or indirectly affected by the meetings.

Problem: Is the free cash flow a value relevant accounting measure in relation to the Swedish stock market?Objective: The aim is that by using an investment strategy to examine whether the free cash flow is an accounting measure that could be perceived as value relevant in relation to the Swedish stock market.Method: The paper is based on a quantitative survey of empirical evidence that has been collected from companies listed on the Large and Mid-Cap lists of the Swedish stock market.Theoretical Frame of reference: value relevance, cash flow, portfolio theory, drive theoryResults: It was concluded that the study results conform to the Finnish survey results. The portfolio shows higher returns than the OMX index..

The purpose of this thesis is to investigate if the stock market reacts differently to accounting information, depending on the stock market climate. The study focuses solely on stocks listed on the OMX Stockholm 30 during each year from 2005 to 2009. By applying the concept of Earnings Response Coefficient we can estimate how the market reacts to accounting information. The dependent variable in the equation is the market reaction on unexpected earnings, in the study described as the abnormal return on stock. For quality purposes we measure this on a ±1,5,10 and 20 days basis.