This study investigates whether the permanent measurement bias (PMB) has changed over time for Swedish companies listed on the Stockholm Stock exchange at least one year during 1996-2000 or 2005-2010. By using the Residual Income Valuation-model the markets' implicit value on PMB is generated through reversed engineering, as values for all variables except PMB are entered such as the market perceived them at the specific valuation date each year. This implicit value is classified into industries and then sorted by their median. Statistical tests are performed to see if there is a difference between the industry median and the accounting-based values on PMB. The difference from period one to period two is also statistically tested for.The study finds that the implicit values on PMB have changed somewhat between the periods; however the fluctuations are not statistically significant.

AbstractA master thesis in business administration 30 hp, Jönköping International Business School, Spring semester 2012.Authors: Sarah Henningsson & Jim BörefeltSupervisor: Urban ÖsterlundTitle: Commercial real estate investment ? Factors from an investor perspectiveBackground and problem: In this study, we focused on the real estate investor and the factors and issues that may arise and affect real estate investment decisions. It has been put in relation to the other parties in the process of assessing and affecting real estate investment decision. The parties that we studied are real estate investors, banks, brokers and appraisers.Purpose: This study aims to describe and explain the factors that affect commercial real estate investments for investors, credit assessment conducted by the bank and valuation made by the broker and appraiser.Delimitations: We have chosen to limit the study to commercial real estates including residential, retail and office properties, industrial properties and combinations thereof. Agriculture buildings and forestry plots are not examined.

Sjöherravälde, Corbetts teorier inom ramen för modern ubåtskrigföring.Studie om Corbetts teorier och hur de appliceras på modern ubåtskrigföring. Sjökrigets grunder beskrivs inledningsvis samt av Corbett sammanställda metoderna för etablerande, bestridande samt utövande av sjöherravälde och ubåten som vapen. Därefter följer en studie av historiska källor rörande modern ubåtskrigföring. I denna ingår Scapa Flow 1939, ubåtsstrid vid slaget om Atlanten och USAs sjöfartskrig mot Japan samt sänkningen av Belgrano och det inledande skedet av Falklandskriget 1982. Fokus ligger på de olika metoderna som Corbett beskriver för sjöherravälde: avgörande slag, blockad, fleet in being, försvar mot landstigning, sjöfartskrig, amfibieoperationer samt stödjande av expeditionsstyrkor. Med bakgrund i dessa utmynnar uppsatsen i en diskussion om modern ubåtskrigföring som i stor utsträckning verifierar Corbetts teorier..

The purpose of this study has been to investigate how individuals with reading- and writing disabilities and dyslexia handle their information need in the workplace. The method that has been used is a qualitative study made with interviews with individuals who have these problems, to see how they think and feel about the flow of information on their everyday basis. The study?s respondents are working women between the ages of 27 and 47 years old and they have reading- and writing disabilities and dyslexia. The most interesting results of this study are that the respondents are avoiding jobs where they need to read and write much and where they also do not like changes in their job situation.

User-centred acquisitions at three academic librariesA new way of developing collections has been adopted at a number of small academic libraries, user-centred acquisitions. The method implies that the main way of building the collection is by means of receiving suggestions of titles from library users. The main purpose of this thesis is to investigate changes in acquisitions of monographs. At a more detailed level it seeks a deeper understanding of what user-centred acquisitions is and how the method effects the acquisitions process. Changes in stock management and the reason why the libraries have chosen the method is investigated as well.

Sweden is dependent on secure sea transport. Shorter disruption of imports of fuel and crude oil can be managed with an emergency stock, but a prolonged halt in imports creates problems. For industry, the vulnerability is greater. Fragmented production chains in combination with expenditure reductions in inventory causes a dependency on proper transport of intermediate goods in the manufacturing industry. A lengthy disruption thus involves disruption of production for both domestic consumption and for export goods containing imported parts.In order to secure shipping routes with a limited number of vessels, Mine Counter Measures (MCM) capacity is required, and according to the Armed Forces, developed with new sensors and autonomous vehicles.

Denna rapport beskriver arbetet med att designa och utveckla en plattform för simulering ochutvärdering av olika tradingsystem.Det viktigaste kravet som sattes upp i examenarbetets förstudie var att åstakomma en flexibel ochutbyggbar grunddesign för att man vid senare tillfälle ska kunna uttöka systemet vartefter behov avmer funktionalitet uppstår i en snabbt föränderlig finansiell värld. Vidare skulle Microsofts allrasenaste teknik användas.Resultatet blev systemet Trader som är en modulbaserad applikation med tydliga riktlinjer för hurmoduler ska laddas, skapas, initieras samt hur de kommunicerar med varandra utan överflödigaberoenden. Vägen dit gick via inlärning av diverse designmönster och designprinciper. Omfattandeanvändning av händelser och kommandon för kommunikation mellan olika moduler samtprogrammerandet mot interface istället för konkreta objekt i alla lägen gav få beroenden och enflexibel och utbyggbar grunddesign.Trader kan koppla upp sig mot börsen för att hämta kursdata. Denna data kan sedan användas för attutvärdera hur olika tradingsystem skulle ha presterat i olika tidsintervall.

I dagens globaliserade samhälle är det enkelt att placera sitt kapital på olika marknader. Dock kan det innebära både risker och möjligheter för investeraren. Vilket betyder att det satsade kapitalet antingen kan bli en lönsam investering eller gå förlorat. Bör hänsyn tas till landsrisker på aktiemarknaden för att kunna bedöma investeringens lönsamhet?Syftet med studien är att ta reda på vilken betydelse landsrisker har för avkastningen i industri- respektive tillväxtländer.

The purpose of this thesis is to examine the networks of interlocking directors in the 50 largestSwedish companies on the Stockholm Stock Exchange during the years 1990, 1995, 2000, 2005and 2010 and seek explanations for the observed developments.Our findings indicate that the density and concentration of the network has decreased during thefirst ten-year period and stayed constant during the second period. The development of theoverall network is not consistent throughout all corporate groups. Most notablyHandelsbankssfären seems to experience increased density and connectivity whileWallenbergsfären is experiencing the reverse.The changes during the first ten-year period is deemed to come mainly from changes inregulations pertaining to both the opening for international capital investments as well as looserrestrictions on domestic capital investments. These changes have caused decreased concentrationof ownership, as well as the emergence of new owners, which is reflected in the board ofdirectors.During the second ten-year period the changes are more pertaining to the individual boards andboard members, without flowing through into the overall network. Our findings indicate thatthese changes are caused by the increased professionalization of boards and board work, whichhas gained momentum through the creation of the Swedish Corporate Governance Code..

This paper examines Systembolaget and Svenska Spel, two Swedish state-owned enterprises, both functioning as monopolies. Systembolaget is the state owned monopoly for marketing of alcoholic beverages. Svenska Spel is the state owned gaming operator. Svenska Spel's task is to provide citizens with gaming products. Both companies are expected to market their products and services while taking caution and minimize damages, but are also supposed to deliver various degrees of economic revenue.

ABSTRACTTITLE The investors guide to hedge fund strategies ? A comparing study of hedge fund strategies on the Swedish market.COURSE Bachelor Thesis in Finance KEYWORDS Hedge funds, Hedge fund strategies, Swedish hedge fund market, Investors, Average return, Riskadjusted returnThe ThesisInvestor?s general knowledge about hedge funds and hedge fund strategies, is compared to other investment alternatives low. The purpose of this thesis is therefore to clarify to investors how examined hedge fund strategies separate concerning risk and return in hedge funds. This, in order to facilitate for investors understanding which hedge fund strategy will be more suitable for them. To achieve this, the thesis is mainly focusing on quantitative data, which is complemented with qualitative findings in terms of a questionnaire.

Nanofiltration is a proper way of preparation of drinking water. The process has a lot in common with reverse osmosis where a semipermeable membrane is used to separate a pure water flow from the remaining water. A pilot plant was used to ensure that nanofiltration is a suitable technology for a specific waterworks station in Glemmingebro, Ystad. The purpose was also to find out if a pH-adjustment is needed for feed water in a possible full scale plant.  In this case nanofiltration is used mainly to remove sulphate and calcium since the raw water contains concentrations of these substances which exceed the limits for potable water. It is important to receive a high recovery (RC), otherwise the deliviery of water won?t be high enough.

Intangible assets are often a significant part of Swedish companies? assets. Most of these are accounted for as goodwill, arising from acquisitions. After EU:s decision to adopt IFRS as the new accounting standard, intangible assets will to a larger extent be recognized separated from goodwill. This thesis aims to quantify this change and to analyze what specific intangibles are affected most by the transition to IFRS.

It is important to construct or recreate different types of wetlands and study their retention of nutrients, since knowledge of their effectiveness in this matter is poor. In 2003 a wetland was constructed on an old meadow on the western shore of Lake Bornsjön in central Sweden. The main purpose of the wetland was to reduce the amount of phosphorus entering the lake, which is the back-up water supply for Stockholm when the city cannot obtain water from Lake Mälaren. Large areas around Lake Bornsjön consist of agricultural land and the nutrient concentrations in the inflows to the lake are usually relatively high (approx. 1 mg/l total nitrogen and 0.05-0.1 mg/l total phosphorus).

Sammanfattning Titel: Lågkonjunktur ? En studie i vilka skillnader som finns för variationen i antal anställda inom IT- respektive industribranschen Författare: Emilio Nilsson, Oscar Kacprzak Handledare: Emil Numminen Institution: Blekinge Tekniska Högskola Kurs: Kandidatarbete i Företagsekonomi Syfte: Syftet med uppsatsen är att undersöka och analysera för hur företagets ekonomiska data för den relativt unga IT-sektorn förklarar antal anställda gentemot hur företagets ekonomiska data förklarar nyckeltalet för en äldre mer erfaren bransch som industrisektorn. Metod: Vi har samlat ihop kvartalsrapporter från 1999 års första kvartal till 2009 års första kvartal för totalt 10 stycken företag som vi bedömt lämpliga för studien, 5 företag från IT-branschen samt 5 företag från industribranschen. Vi har därefter fört regressionsanalyser med antal anställda som Y-variabel och totala intäkter, aktienivå, rörelsekostnader samt rörelseresultat som X-variabler för att finna korrelationen däremellan. Slutsats: De framkomna resultaten från regressionsanalyserna pekar på att det finns skillnader branscherna emellan.