Not much is today known about how epiphytic lichens are effected by fire. A considerable part of the fires in Sweden today are prescribed fires for the purpose of environmental conservation. How these fires affect lichens is largely unknown. The aim of this study is to find out how epiphytic fruticose and foliose lichens on Scots pine are affected by fire, and to elucidate the relationship between fire intensity and the survival of lichens and later re-colonization. The study was performed at three locations just outside Umeå in Västerbotten that were burned 5-7 years earlier. In all locations there were larger groups of surviving Scots pines with varying amount of fire-damage in the crown, which enabled a reconstruction of fire intensity.

We have two aims with this thesis. The first aim is to describe CFD as a financial instrument in detail by highlighting its potentials and disadvantages. The second aim is to try to find the optimal real margin for each of the underlying stocks.We have adopted an inductive approach, combined with a quantitative method. We have worked with data and tried to come up to conclusions from the results we got.The conclusion of our thesis is that it is optimal to enter a CFD-contract with own capital covering at least 20 % of the value of the contract..

SCA har idag cirka 280 000 hektar beskogad med contortatall (Pinus contorta Dougl. ex Loud. var. latifolia Engelm). Stora delar av den arealen har kommit in i, eller är på väg in i, gallringsbar ålder.

This paper attempts to investigate the correlation of 12 month abnormal returns and the fundamental value of stocks in theSwedish stock market between the year 2000-2011. Also, the paper tries to apply and evaluate the concept of the margin ofsafety. In estimating the fundamental value we use the residual income valuation model and three different estimationapproaches of the beta coefficient in order to correct for financial and operational biases. We find that our different portfoliosearn abnormal returns. However, this could be explained by the size effect and P/B effect.