This paper tests the information signalling hypothesis on a sample of firms making open market stock repurchases. Using an earnings-based valuation model, we find that a majority of repurchasing firms are undervalued relative to their economic value. This result is consistent with previous academic studies, which claim that undervaluation is the prevalent factor explaining the observed abnormal return following the announcement of a repurchase program. We do not, however, find any evidence that the repurchase is consciously made by management to provide the market with new information. .

The choice of harvest date for leys is one of the most important factors affecting the size and quality of the harvest. An early harvest gives a high nutritive value while a late harvest gives larger quantity. Today?s aim to produce high nutritive leys gives early harvest dates both in primary growth and regrowth in northern part of Sweden. The consequence is a growth in the autumn, a "third harvest".The aim of this master thesis was to study the effects of different harvesting systems and their effect on size, feed quality, wintering and economy for conditions in the northern part of Sweden.

This is a work that look at the factors that affect future monthly costs when buying a house in Sweden and which options are the most financially favorable over a 30 year period. The work also examines whether it is economically beneficial to invest in a low-energy house regardless of geographic location in Sweden, and discuss about whether a calculation template can help individuals to choose more environmentally friendly options. The work has been limited so that a certain number of predetermined factors and its measurable values have been developed with the help of a literature study. The factors chosen are building type, climate, heating systems, loan interest rates, energy prices, energy price increases, inflation rates and down payment. These are then combined into 72 different calculation cases which get put in a calculation model made in excel.

SUMMARYInventory of raw materials holds an important role in companies within the manufacturingsector. The inventory works as a buffer that secure the supply of materials to the productionunit. The aim of the inventory is to ensure that the company is able to meet the customers?demands despite fluctuations and variations in the material flow. The size of the warehouseand the layout are physical limitations for the quantity of articles that can be stored.

Level: Thesis in Business AdministrationDate: 20009-06-11Authors: Anders Johansson & Johan MyhrE-mail: anders@clubsilk.nu,  johan@clubsilk.nuTutor: Mona AnderssonTitle: Company valuation according to Value Based Management ? application to SkiStarProblem: Different operators constantly supervise Companies listed at the stockmarket. The stock exchange market is continuously updating the companie?s present value and their forecasted value. It is important that the companies are able to communicate with the market so that the stockvalue reflects the real value of the company.

This paper aims to derive the Black-Scholes equation for readers without advanced knowledge in finance and mathematics. To succeed, this paper contains a theoretical chapter in which concepts such as options, interest rate, differential equations and stochastic variable are explained. This paper also presents the theory of stochastic processes such as the Wiener process and Ito process. In the chapter on the Black-Scholes model the Ito process is used to describe price of shares and with the help of Ito's lemma Black-Scholes equation can be derived. In the paper, assumptions are listed that apply to the Black-Scholes model and then uses the Black-Scholes equation to calculate the price of a European call option.

En eventstudie gjordes på aktierekommendationer publicerade på Privata Affärers hemsida mellan 2009-2010. Publiceringsdagen för rekommendationen utgjorde eventdagen och ett eventfönster på fem dagar innan och fem dagar efter. Rekommendationerna delades upp i olika kategorier för att kunna se skillnader mellan köp, avvakta och säljrekommendationer samt för Mid Cap och Small Cap. Uppsatsen kunde inte påvisa någon generell statistisk signifikant överavkastning i någon av de undersökta kategorierna..

In this paper you can read about students? opinion of teaching in mathematics. The study is done with eight students that were interviewed. The study is based on 16 questions about mathematic teaching. The questions covered student participation, how teachers should be, if they think mathematics is important, which approach to take in lessons and how student best learn.

The purpose of this essay is to study the impact of different factors on corporate capital structure. The factors studied in relation to corporate debt ratio are industry affiliation, size and profitability. The study involves all 252 companies quoted on the Stockholm stock exchange and cover a time period from 2007 to 2011. The result shows that branch affiliation has a significant impact on corporate debt ratios. Regarding size and profitability, however, these factors do not have an evident impact on corporate debt ratios..

The choice of harvest date for leys is one of the most important factors affecting the size and quality of the harvest. An early harvest gives a high nutritive value while a late harvest gives larger quantity. Today?s aim to produce high nutritive leys gives early harvest dates both in primary growth and regrowth in northern part of Sweden. The consequence is a growth in the autumn, a "third harvest".The aim of this master thesis was to study the effects of different harvesting systems and their effect on size, feed quality, wintering and economy for conditions in the northern part of Sweden.

In order to evaluate different afforestation methods for exposed heath lands a field experiment was established in Mosfell on southern Iceland in 1989. The trial comprised six different site preparation methods (control, herbicide application, tree shelters, patch scarification, TTS trenching and mounding). In total 960 container seedlings (1+0) and 960 Nisula roll transplants (2+1) of lodgepole pine were planted. Various planting positions (furrow, hinge, no site preparation (control) and on top of mounds) were tested within the site preparation treatments. This study involves renewed measurements and analyses of the trial.After 19 years the overall survival was 51,7 %.

In this essay the aim is to look at difficulties in preservation of buildings in general, andespecially the ones of the modernist era. To navigate in this huge field the study is narroweddown to take place in Finspång, a small Swedish town. In Finspång there was a swimmingpool facility built in 1967. In 2003 the facility was closed down due to its unusable conditionsand then after seven years with discussions of different plans about what to do with thefacility it was demolished in 2010. This case is the base in the essay, and why it was notpreserved.The purpose of this essay is to look at what the people in Finspång think about preservation ofbuildings with the demolished swimming hall facility as base, and what impact materiality hason questions regarding preservation, cultural heritage, memory and history.

The economic conditions for Swedish dairy farmers are constantly changing. The numbers of producers are declining and the economic conditions for dairy production are weakening debilitating. To improve the economic situation for a farm a hired contractor is a possible solution since previous studies show that machinery cooperation may be beneficial for the farmers. The aim of this study is to examine the possibility for farmers to cut costs by hiring a contractor for harvesting silage. A comparison between using own machinery and hire a contractor is the starting point of this study. Another aim is to discuss the farmer?s decision process when achieving today?s situation and to determinate what factors affect their decisions. The study is based on cases selected from four farms that today have chosen not to or only to some extent, hire a contractor for harvesting silage.

Marknadens reaktion när ett företag informerar och annonserar om en eventuell nyemission sägs vara oförutsägbar. Enligt tidigare forskning pressas aktiekursen i de flesta fallen nedåt vid en nyemission. Under det senaste året har en del nyemissioner utförts i synnerhet på grund av den globala lågkonjunkturen då många företag haft för lite kapitalbas. Vad gäller företag på Stockholmsbörsen som valt att nyemittera aktier har även här de flesta fått se sin aktiekurs rasa.Författarna till denna uppsats avser att studera hur marknaden reagerar på ett offentligt tillkännagivande av en kommande nyemission. Det undersöks även om det förefaller någon skillnad mellan tillkännagivanden av nyemissioner genomförda innan eller under lågkonjunkturen och skillnader branscher emellan.Då vi ville se hur denna händelse påverkar ett företags aktiekurser valde vi att göra en eventstudie.

This paper aims to derive the Black-Scholes equation for readers without advanced knowledge in finance and mathematics. To succeed, this paper contains a theoretical chapter in which concepts such as options, interest rate, differential equations and stochastic variable are explained. This paper also presents the theory of stochastic processes such as the Wiener process and Ito process. In the chapter on the Black-Scholes model the Ito process is used to describe price of shares and with the help of Ito's lemma Black-Scholes equation can be derived. In the paper, assumptions are listed that apply to the Black-Scholes model and then uses the Black-Scholes equation to calculate the price of a European call option.