Background: The increasing competition on the market demand both companies and supply chains to find optimal solutions. The edeavour to reduce inventory levels is a part of this. Earlier, inventory was seen upon as valuable assets, but today they tend to be more and more negative in the eyes of the companies. Inventory demands capital, handling, and space. Therefore inventory creates unnecessary costs.

I denna uppsats undersöker jag huruvida CAPM eller APT modellerna ger resultat på den svenska aktiemarknaden mellan 1998 och 2007. Jag undersöker om någon av dessa modeller passar in i den svenska aktiemarknaden och hurdan är resultatet. Det som gör uppsatsen intressant är att jag använder båda modellerna i en och samma studie och jämför resultatet av uppskattningar av modellerna. Som markandsindex har jag använt OMXS30 index och som makroekonomiska variabler i APT-modellen har jag använt inflation, oljepris, industriproduktionsindex och ränta. Resultatet av studien är att med de makroekonomiska variablerna, som jag har använt, ger både CAPM och APT likvärdiga resultat.

The purpose of the thesis is to demonstrate how high frequency trading affects the stock market. The growing high frequency trading is affecting the game plan on the financial markets and concerns have grown about the high frequency users intentions with their business. It is difficult to receive an overall picture of the subject because the lack of previous research and even the research that exist do not show the entire picture. The thesis contributes to the research through a comprehensive picture of the present debate as well as the previous research through a literature study. Our results showed that high frequency trading provides liquidity to the market, there is a statistical connection between high frequency trading and volatility, no price manipulation is being used and there is a need for a supervision of the high frequency trading..

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 is a study to see the relationship between earnings per share and dividends during a period of both boom and depression. The study will focus on companies listed on Stockholm stock exchange and see if they follow theories from the past and if the dividend is smooth over times with a fluctuant economy. To see this we had this problem:Is it a relationship between earnings per share and dividend during a fluctuant economy, also if there is a difference between the different Caps on Stockholm stock exchange?We studied 163 stocks of the 293 listed stock on Stockholm stock exchange during a period of 8 years. The study is focused on the time period between year 2005 and year 2012.

The Swedish TV broadcasting market is constantly changing together with the players in it. The questionto be answered by this paper is how the players in the market handle these changes and to what extentthe players are changing the market. Also, are there any differences between the public service andcommercial players in this aspect? The purpose of this paper is to create a better understanding of theSwedish broadcasting market and its player's market orientation. Through case studies of the three mainbroadcasting companies, SVT, TV4-gruppen and MTG, the market is analyzed from their perspective.The conclusions from the analysis show that there are differences in the market orientation betweenpublic service and commercial players, where the commercial companies are more market driven..

Due to a rising debate concerning corporate governance that has caused increasing demands for companies? transparency, several codes of conduct have been introduced. The Swedish Code for Corporate Governance is obliged to companies with a turnover exceeding three billions. There are companies that voluntarily apply the Swedish Code. Possible causes to this phenomenon ought to be that the code for corporate governance conveys legitimacy through the insight into the affairs of a company the public receives, through the report of the corporate governance that is published in the annual report and on the home page of the company.

In this study, we examine the presence and consequences of CEO overconfidence in the Swedish market. We identify overconfidence with two insider-trading based measures and find that overconfidence is apparent among one third of CEOs in companies listed on the Swedish stock market. We also find that these CEOs are more prone to carry out acquisitions, as the probability of conducting an acquisition increases by 27 % if the CEO is overconfident. However, we do not find evidence that acquisitions by overconfident CEOs are more value-destroying. This finding contradicts results from previous studies conducted on Anglo-Saxon markets that suggest that overconfidence has a negative impact on the value-creation in acquisitions.

The purpose of this report is to examine what will happen with the financial control of a company if changes from a family owned company to a public company listed on a stock market. The expectations were that the control would have a more short-term focus with more financial measures. The result shows that the changes were experienced as minor. The rate and the work in the finance department showed to be the major changes due to the change of owners..

Intro: 80 percent of the Swedish population own shares. This makes Sweden the leading country in private investment in securities. It can be difficult for the private investor to know where, when and which security to invest in. The strategies are as ambivalent as the stock markets fluctuations. If the investor prefers to refrain from investing money himself, there are brokers who carry out these types of services.

Recent accounting scandals, often led by managers trying to improve results and thereby their own bonuses, have severely damaged the publics view of management. In the aftermath of scandals such as Enron, Parmalat and Skandia, demand has increased for Corporate Governance codes and similar regulation. The Swedish code for Corporate Governance came into effect on July 1, 2005. The code requires all Swedish companies listed on the Swedish Stock Exchange (OMX A- and O-list), with a turnover exceeding 3 billion SEK, to disclose a report regarding Corporate Governance, attached to the annual report.The purpose of this paper is to examine whether the new disclosure required by the Swedish Corporate Governance code will have a measurable effect on stock prices. The authors have applied event study methodology examining daily returns around the announcement of the Corporate Governance reports.

The purpose of this paper is to study how Swedish CFOs perceive that the requirement for companies to issue quarterly reports affect business operations in the company. The fact that it is regulations on the Stockholm Stock Exchange, and not the law, that requires companies to issue quarterly reports makes Sweden unique in Europe. The paper is based on interviews with CFOs from 32 companies quoted on the Stockholm Stock Exchange. The major finding in the study is that a majority of the CFOs perceive that the pressure for short term results, created by quarterly reports, affect their work and the investment decisions made in the company. Also CFOs feel that the market over interprets the information given in quarterly reports.

Purpose: This study aims to examine the price transmission among ADRs (American Depositary Receipts) and their underlying shares, US market index and Hong Kong market index. We will attempt to capture how a shock in the home market is transmitted to the foreign (and vice versa). In addition we will attempt to assess the relative weight of each variable in the system generating unexpected variations of its own and other variables and at what speed the shocks are absorbed.Methodology: ADF unit root test, Johansen?s co-integration test, Granger causality test, VECM, impulse response, variance decomposition Empirical foundation: Five Chinese ADRs listed on the New York Stock Exchange. Each ADR represents a specific industry.

Stock analysts have through the analyses they write a large impact on the expectations on the market and the direction of investors investments. This creates undesired fluctuations on the market that raises the level of uncertainty. The way that the analysts satisfy their need for information is connected to how their final analysis will be shaped. There is a large knowledge gap concerning the way that the analysts work and this gives unsatisfactory ways of communication. This thesis is set out to create a greater understanding of how optimal communication towards this target group should be brought out.

The shareholder is supposed to be indifferent if one share costs 100 SEK, or 10 shares cost 10 SEK each. In an efficient market, shares should be valued directly to new expectations as a result of the announcement of the reverse split. We investigate whether abnormal returns incur surrounding reverse split and if owner structure change.One reason for the reverse share split is that most companies have plans to imple-ment other company?s specific events in order to survive rather than to change the price range to a more attractive level. We found a negative return in the ex-day at 8,1 per cent.