På börssidorna i affärstidningarna, Dagens Industri och Finanstidningen, presenteras både det teoretiska priset och marknadspriset för aktieoptioner. Mellan dessa båda priser förekommer det nästan alltid en skillnad. Denna skillnad förklaras med att priserna är baserade på olika volatiliteter. Det är den historiska volatiliteten som används vid beräkning av det teoretiska priset medan det är den förväntade framtida volatiliteten som bestämmer marknadspriset. Syfte: Undersöka förhållandet mellan implicit, faktisk och olika historiska volatiliteter på den svenska optionsmarknaden under år 2000 samt närmare granska rationaliteten i marknadens uppskattning av den faktiska volatiliteten..

MindMe is an aid for people with cognitive memory impairments. The aid is completely new and has beendeveloped within this bachelor thesis, no product of this nature could be found on the market before. Theidea came from Niclas Jarhäll, CEO of Mutual Benefits. Mutual Benefits were also partners in the project.The project was carried out by us in cooperation with Bachelor of Science in Innovation Engineeringstudents Malin Albertsson and Victoria Hedman at Halmstad university. The aid consists of a mobile phoneand a number of tags.

At the moment in central Täby there are small district heating network operated by Fortum Heat. The distribution network has an annual heat demand of about 70 GWh, which is supported by the network's two plants, Galten and Farmen. Täby as a region is rapidly growing and there are grand plans to develop the area. Estimated market potential for a future district heating expansion in Täby is very high and as early as in 2007 Täby decided to invest in a large-scale expansion. In autumn 2009 Täby did a procurement process, known as the ?Täby initiative?, to find a partner that could implement those expansion plans. To secure a cheap basic production the partner also need to build a power plant at Hagby recycling center. Despite high interest during initial state of the process, only one procurement offer were received and Täby suspended the contract in March the following year.

The purpose of this work has been to investigate if there are any differences in the valuation process at infringements when highway and railway are built. The work has mainly been concentrated on the negotiation process in which The National Railway Department (Banverket) and The National Road Administration (Vägverket) try to get agreements with the land owners. The agreement includes compensation for infringement effects that affects the landowner?s property. The National Road Department uses the road law (Väglagen) when a highway shall be built.

This study investigated whether in-situ audiometry, delivered via hearing aids, is a better option as a basis forprescribing hearing aid amplification, compared to conventional audiometry. By examining the real ear insertgain (REIG) in 29 ears (18 subjects), that had been fitted with a hearing aid programmed using both conventionalaudiometry and in-situ audiometry, the study looked at whether in-situ audiometry based prescription is closer tothe NAL NL1's fitting target than audiogram based prescription. The hearing aid Siemens Pure 7mi with speakerunit M was used on all participants. The results showed how in-situ audiometry based gain at certain frequenciesis more consistent with the target curve, especially at 1000, 1500, 2000 and 4000 Hz. It was not establishedwhether the findings of the study were statistically significant.

Abstract The purpose of this essay is to find difficulties and risks in the re-engineering process when restructuring to Model-View-Controller (MVC). A thoroughly theory study has been conducted to be able to understand the important steps in the re-engineering process. The methods and concepts of this essay are re-engineering, UML, system development life cycle, design patterns and MVC. The science approach used is design science where the artifact being developed are a set of models.In the analysis phase of the process the system is analyzed. The result of the analysis is notes of difficulties found and models showing the structure of the system.

The purpose of this study is to describe melanotic tumours and the pathogenesis of these tumours. The focus of this study is on differences between benign and malignant tumours as well as the prognosis one may expect when diagnosing this disease. The mechanisms responsible for the occurrences of the tumours are not yet fully understood. It is believed that factors such as chronic trauma, infections, medications and hormones affect the cell mechanisms in some way. Determinants of the malignancy of the tumour are not completely known.

With the introduction of the Swedish Code for Corporate Governance in December 2004, most companies listed on the major Swedish stock exchanges were required to have a nomination committee responsible for, among other things, evaluating the incumbent board and nominating new candidates. This master thesis aims at analyzing the effects of these nomination committees on institutional investors in their corporate governance, through a qualitative study of 13 interviews. We have found that institutional investors have become more active through their participation in nomination committees and that they have gained more influence over the companies in which they own shares. We believe that in reality nomination committees have more influence over the selection of the board than was intended when the Swedish Code was written..

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.

This thesis studies the relationship between risk and the first day returns of Initial Public Offerings (IPO) by assessing the risk of each issuing company with a risk model that combine financial key ratios of importance. The study is based on 92 IPO?s that were made on the Stockholm OMX stock exchange during the period of 1997-2009. The point of departure was to investigate if the uncertainty created by the asymmetric information between investors and the issuing firm could be captured by predicting the possibility of failure in the future. This has been studied by applying Skogsvik?s probability of failure model on the 92 issuing firms.

The purpose of Älvdalens besparingsskog is to develop the district and most of all the forestry in Älvdalen. It's owned by about 2 300 private forest owners who's landed properties are located in Älvdalen. Every year the besparingsskogen gives out a lot of its profit in form different types of subsidies for agriculture and forestry. The owners can apply for subsidies for several of the costs that occur in forestry. During the period 2000-2003 the owners are offered forest management plans and pcSKOG-gård at no cost for their private forest properties. The purpose of this master's thesis was to find out if the activity in the forestry changed when the forest owners got new forest management plans and the computer program pcSKOG-gård.

This paper studies the option market?s implied dividend as a predictor of future equity market returns. We introduce this variable in the simple total return framework and discuss some complications of using it as a proxy for the expected dividend. We construct some regressions using the price-dividend ratio and the implied dividend growth, and test them on six years worth of data on the EURO STOXX 50-index. The main result is that implied dividend growth exhibits some forecastability over two-year horizons, but that the dataset is too short to draw any definitive conclusions about long-horizon forecastability.

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.

Background: Enterprises often refer to their employees as ?Our most valuable assets? in annual reports and other written statements. In reality, employees are seen as an expense rather than an asset in annual reports and the voluntary disclosure is often insufficient. Human capital disclosure has been discussed through decades and the latest topic in voluntary disclosure is called integrated reporting. Knowledge firms should disclose more about their employees than industrial companies due to the fact that the employees are a considerably more important asset to these types of enterprises.Purpose: The purpose of this thesis is to study the disclosure of human capital, compare the disclosures between knowledge firms and industrial companies, and study the development of the human capital disclosures between the years 2003-2013.

Marks do not only work as an acknowledge of the effort that has been made under a long period of time, but also as a receipt for eligibility to further studies. Within the political debate, marks have often caused a big discussion among the political parties. That is due to the obvious difference between the political parties on the left, and their counterparts on the right. However, there is one thing that they all have in common. Everyone of them have plans of measure within their political agenda, regarding the use of marks.The aim of this study has been to try to understand the way pupils think about marks.