Syftet med uppsatsen är att belysa i vilken utsträckning valda faktorer påverkar direktavkastningen i Sverige samt att klargöra huruvida investerare kan använda faktorerna i syfte att uppnå önskad utdelningsnivå. Metoden som har använts är kvantitativt baserad, den empiriska datan är företrädesvis insamlad från databasen Six Trust, tillhandahållen av LINC vid Lunds Universitet. Angreppssättet har varit deduktivt, där teorier har testats genom multipel regressionStudien visar inte på något entydigt signifikant resultat för de undersökta variablernas förklaringsgrad på direktavkastningen. Resultatet motsäger därmed ett flertal erkända forskares tidigare resultat, däriblad kan nämnas John Lintner(1956) som menade att utdelningen i mycket stor utsträckning kan förklaras av företagens vinster, något vi inte finner stöd för. Vid prognosticering av utdelningsnivån hos svenska börsföretag bör undersökta variabler inte ligga till grund för placering..

The thesis handles the principal-agency problem between shareholders and the Chief Executive Officer. The purpose of the thesis was to examine the link between CEO compensation and corporate performance measured as a change in Market to Book ratio. Data was collected from corporate annual reports between the years 2000 ? 2008 and the study covers 39 Swedish companies from the Stockholm Stock Exchange Large Cap list. To examine whether there is a link between the CEO´s compensation and firm performance, we performed a regression analysis, and no significant relation is found.

Syfte: Att utröna om det kan förkastas att Sharpekvoten ger en utvärdering av fonders prestation som stämmer överens med investerares förmodade uppfattning om nytta, dels för vanliga fonder, dels för hedgefonder. Teoretiska perspektiv: Sharpekvoten bygger på antagandet att investerare bedömer investeringar utifrån förväntad avkastning och varians. För att så ska vara fallet krävs att någon av följande förutsättningar är uppfyllda: att investeraren har en kvadratisk nyttofunktion eller att investeringars avkastning är normalfördelade. Det finns fog att ifrågasätta huruvida någon av dessa förutsättningar är uppfyllda (främst för hegdefonder) vilket innebär att fog även finnes för att ifrågasätta Sharpekvotens tillförlitlighet. Stokastisk dominans är en metod som tar hänsyn till hela avkastningens fördelning, och bygger på mycket rimliga antaganden om investerares nyttofunktioner.

The value investing philosophy, which can be traced at least to the teaching of Graham and Dodd in the 1930?s, entails identifying and investing in potentially under valued stocks with a potential for extraordinary returns. The focus of this thesis is to identify patterns and characteristics in financial accounting data preceding creation of shareholder value. The authors of this thesis utilize a multivariate discriminant analysis in order to identify indicators of value creation and subsequent extraordinary returns in value stocks. A discriminant function is derived which successfully identifies which value stocks will eventually become growth stocks.

Back in the 1950s Marilyn Monroe and her hourglass shaped body was the aesthetic ideal for how models were to look like. Nowadays, the tide has turned. Research has shown that female models are becoming increasingly taller, narrower and straighter. This trend has occurred despite the fact that both men and women (still) prefer medium sized women with curvy bodies. This essay examines if this trend can be justified from a marketer's perspective.

The purpose of this study is to explore how teachers in Sweden and Croatia work with children that have problems like ADHD and dyslexia in school. I have chosen to compare pedagogical methods between Swedish and Croatian teachers which are used in work with children with difficulties when it comes to the education and teachers approach to these children. I have done a qualified study and have interviewed teachers in both Sweden and Croatia and one specialist in pedagogy in Croatia. I compared with these interviews information from earlier studies and literature. Results show that teachers in Sweden are of the opinion that every student who has these difficulties is different and therefore the use a variation of pedagogical strategies is crucial.

The purpose of this study is to explore how teachers in Sweden and Croatia work with children that have problems like ADHD and dyslexia in school. I have chosen to compare pedagogical methods between Swedish and Croatian teachers which are used in work with children with difficulties when it comes to the education and teachers approach to these children. I have done a qualified study and have interviewed teachers in both Sweden and Croatia and one specialist in pedagogy in Croatia. I compared with these interviews information from earlier studies and literature. Results show that teachers in Sweden are of the opinion that every student who has these difficulties is different and therefore the use a variation of pedagogical strategies is crucial.

The Nasometer is a non-invasive acoustic measuring instrument that quantifies the ratio ofnasal resonance in speech. It can be used as a complement to perceptual judgment of speech impediments, for example, in patients with cleft palate and velopharyngeal insufficiency. Inorder to determine if a nasalance score is abnormal, it must be compared to norm data. The main purpose of the study was to collect reference nasalance scores in children between fourand five years of age in Linköping. An additional objective was to compare the results tonorm data collected in Umeå.

Olja är en råvara och en naturtillgång som kan ses som en investeringsmöjlighet för investerare, oljebranschen är även vår fokus på denna uppsats. Därmed, genom att kartlägga investeringsformerna aktivt förvaltade fonder och investmentbolag inom oljebranschen har vi gjort en fallstudie. Med denna studie vill vi ta reda på vilken investeringsmöjlighet som är den mest optimala utav vårt stickprov på tre aktivt förvaltade fonder och tre investmentbolag. Dessa sparformer har valts utifrån fyra olika områden bestående utav Norden (med fokus på Norge), Mellanöstern, Nordafrika och Nordamerika. Områdena har valts utifrån att de är stora oljeexportörer, att de är stora oljeimportörer och/eller att de har påverkats utav aktuella händelser.Denna undersökning har utgått ifrån teorin den effektiva marknadshypotesen som en utgångspunkt för uppsatsen.

This Masters thesis work describes a comparison between two different methods for estimation of the down channel (base station to mobile subscriber) in Wide-band Code Division Multiple Access (WCDMA). The first estimation method, Optimal Feed-forward Channel Estimation (OFCE), is a conventional method that bases the estimates on data that is known to both sender and receiver, so called pilots. The second method, Decision Directed Channel Estimation (DDCE), is an elaboration of OFCE. It also uses user data for estimation. Simulations show that DDCE, in comparison to OFCE, does not attain an improvement in signal-to-noise-ratio (SNR) for high bit error rates (BER).

Female growth, number of eggs and egg growth of Daphnia pulex were studied at four temperatures, 12, 16, 18 and 20°C. I hypothesized that female growth and number of eggs would be lower and the size of the eggs larger in the presence of a predator (kairomones) than in its absence. This effect was expected to be more evident at lower temperatures. I could not find any effect of kairomones on female growth, number of eggs or egg size, although there was a weak tendency for an effect on number of eggs. There was, however, an effect of temperature, regardless of predator treatment (i.

The thesis demonstrates a low-cost, low-bandwidth and low-resolution Analog-to- Digital Converter(ADC) in 0.35 um CMOS Process. A second-order Sigma-Delta modulator is used as the basis of the A/D Converter. A Semi-Uniform quantizer is used with the modulator to take advantage of input distributions that are dominated by smaller-amplitude signals e.g. Audio, Voice and Image-sensor signals. A Single-bit feedback topology is used with a multi-bit quantizer in the modulator.

This Masters thesis work describes a comparison between two different methods for estimation of the down channel (base station to mobile subscriber) in Wide-band Code Division Multiple Access (WCDMA). The first estimation method, Optimal Feed-forward Channel Estimation (OFCE), is a conventional method that bases the estimates on data that is known to both sender and receiver, so called pilots. The second method, Decision Directed Channel Estimation (DDCE), is an elaboration of OFCE. It also uses user data for estimation. Simulations show that DDCE, in comparison to OFCE, does not attain an improvement in signal-to-noise-ratio (SNR) for high bit error rates (BER). An improvement is only seen when the BER becomes much lower than what is common in real situations. In conclusion DDCE is complicated, involves many mathematical operations and gives insignificant improvement of SNR when BER takes common values. It is legitimate to question if it is possible to use the method in a real mobile phone system..

During the past year it has been made possible to buy back a company?s outstanding stock. This is done in order to change the capital structure towards a situation with less equity. A change in capital structure means a change in the cost of capital for a company and by that a change in the value for the stockholder. This Master Thesis studies the relation between capital structure and business risk.

Olja är en råvara och en naturtillgång som kan ses som en investeringsmöjlighet för investerare, oljebranschen är även vår fokus på denna uppsats. Därmed, genom att kartlägga investeringsformerna aktivt förvaltade fonder och investmentbolag inom oljebranschen har vi gjort en fallstudie. Med denna studie vill vi ta reda på vilken investeringsmöjlighet som är den mest optimala utav vårt stickprov på tre aktivt förvaltade fonder och tre investmentbolag. Dessa sparformer har valts utifrån fyra olika områden bestående utav Norden (med fokus på Norge), Mellanöstern, Nordafrika och Nordamerika. Områdena har valts utifrån att de är stora oljeexportörer, att de är stora oljeimportörer och/eller att de har påverkats utav aktuella händelser.Denna undersökning har utgått ifrån teorin den effektiva marknadshypotesen som en utgångspunkt för uppsatsen.