The primary purpose of this paper is to find the determinants of first-day returns on the Stockholm Stock Exchange. Our research will cover the 1996 ? 2004 periods. Our secondary purpose is intended to find a profitable trading strategy with regard to future IPOs on the Stockholm Stock Exchange. By using regression analysis, focusing on company specific factors and the IPO process, we hope to find a function exhibiting statistical significance, determining future first-day returns from which construction of a profitable trading strategy will be possible.

Background: What is a share and what determines the value of a company? This is a constant issue that many in the financial world are facing. Many argue that there has been some decoupling between stock valuation and how the company in question is developing operationally after the financial crisis that the world faced during 2008-2009.Problem: It is important to distinguish between the company and the share. A company that is good and well maintained may not be worth buying only because of it. The share is judged by other elements also.

Theability to beat the market is one of the most discussed topics in finance. Thereare very few investors that manage to accomplish this over longer periods oftime. Most of the financial research claims that this is impossible unless theinvestor increase the risk in the portfolio. However numerous of researchershave shown that it exist anomalies on the stock market which either indicatesthat the Capital Asset Pricing Modell (CAPM) or Fama and French three-factormodel fails to explain stock returns or that the market is not fully efficient.One investor that has claimed that the stock market is not fully efficient andthat it is possible to generate abnormal return is Benjamin Graham. Graham isone of the legends on Wall Street and he has shown that by using few variablesbased on public information, one can manage to beat the market over longer timeperiods.There arejust a few studies that have tested Graham?s criteria?s, however all of themindicates that they work but that the standard deviation might be higher forthe portfolios.

En nyskapande byggnad, en opera. Trots det perfekta läget mellan berg och mot vattnet så vänder sig byggnaden innåt. Med formen av ett kvarter där innergården är det centrala. Runt den grönskande gården finns de publika rummen och så fort man kommit upp i dessa öppnar sig Stockholms inlopp för besökarna. Byggnaden har ett fokus, besökarna får ett fokus..

The aim of this paper is to investigate the underlying motifs leading to the decision to appoint a supplemental liquidity provider and how they vary between companies. As the first study of its kind to take on an internal company perspective, the goal was to broaden the knowledge base of the field and lay ground for further studies. The study has been conducted by interviewing companies providing the service, their customers and the stock exchanges which they are traded on. The results show that there are two main motifs for appointing a liquidity provider, 1) Creating conditions for increased trade and 2) Improving the pricing of the stock. There was also a supplemental group 3) Other motifs consisting of the observations that would not fit in any of the main categories.

Syfte: Uppsatsen syfte är att klargöra och analysera reporäntans ränteförändringars påverkan på aktiekurserna för samtliga svenska banker i large cap på Stockholmsbörsen.Metod: Kvantitativa händelsestudier har gjorts med deduktiv forskningsansats på fyra företag, samtliga noterade på Stockholmsbörsen. Den onormala avkastningen för de undersökta aktiekurserna har beräknats en dag före till en dag efter samtliga realiseringar av reporänteförändringar som skett mellan åren 2004 till 2015. Teori: Den teoretiska referensramen för studien består av den effektiva marknadshypotesen och överreaktionshypotesen.Slutsatser: Studien har påvisat att det råder signifikant samband mellan ränteförändringar och de studerade aktiernas avkastning vid realisering av ränteförändringarna..

This study presents a methodology that enables the annual average power of a wind turbine to be increased by automatically optimizing it?s airfoil, twist and chord dis- tribution. As a part of the study the software SiteOpt has been developed. This software connects the open source software XFOIL with the blade element momen- tum theory. XFOIL gives lift and drag coefficients which enable the blade element momentum theory to predict the power of a wind turbine at different wind and ro- tational speeds.

The Swedish household?s savings has increased the last couple of years, according to Statistiska centralbyrån. But the amount of households that trades on the stock market has decreased from the year 2012 to 2013. The diminished interest in stock trading carries a risk by leading to a smaller yield for the private savers, and also effect the business development and the economic growth. High brokerage fees will aggravate the ability to attract venture capital.

Uppsats för avläggande av filosofie kandidatexamen iKulturvård, Trädgårdens hantverk och design, 21 hp, 2012.

This thesis aims to investigate the voting premium for companies differentiating voting rights between share classes on the Stockholm Stock Exchange. The voting premium represents the value of a vote attached to the share. The voting premium can be estimated from the price premium between two listed share classes with differentiated voting rights. Rydqvist's dissertation (1987) serves as a model for this study which investigates whether the theory of the so called "oceanic games", along with a proxy variable for cost of control, can predict the voting premium during 2010-2012. To the original model developed by Rydqvist, control variables for differences in liquidity between share classes are added to investigate for an increase in the explanatory power.

The ability to detect protein-based biomarkers, which are linked to different diseases like colorectal cancer, is very important as a diagnostic tool. Usually complex biological samples like blood are studied which will contribute to different technical issues when performing an assay. The aim with the project is to optimize and develop the high throughput protein detection technique Proximity Extension Assay, PEA, into a 96-plex panel, in hopes of discovering an expression profile for colorectal cancer. PEA was developed by Olink Bioscience and allows specific proteins in a sample to be quantitatively transformed into nucleic acid sequences that are subsequently detected and quantified with real-time PCR. Two proximity probes containing oligonucleotide sequences bind pairwise to target protein and when brought in proximity, a DNA polymerase will extend a hybridization arm from one probe over to the second forming a double-stranded DNA sequence that can serve as a template in real-time PCR.

Följande uppsats undersöker hur svensk utbetalningspolitik har utvecklats under åren 1992-2012. Urvalet består av de företag som under våren 2014 var noterade på Stockholmsbörsens ?Large?, ?Mid? eller ?Small Cap? lista. Återköpens andel av den totala utbetalningsandelen visar sig inte vara lika hög som andra internationella studier har visat. Det är istället utdelningarna som utgör merparten av de totala utbetalningarna.

The Swedish population has the world?s largest percentage of shareholders either by direct or indirect owning. Due to the increasing interest of equity capital markets, private as well as institutional investors rely on forecasts from financial analysts. The reason for this is due to the lack of expertise among investors in this area. Due to the fact that analysts influence the Swedish stock market immensely, it?s of great interest to explore whether an analyst can be seen as a rational participant.

The concepts of environmental scanning and Business Intelligence have gained increased interest over the last years in a number of different organisational contexts. The research in this field has mainly been dealing with methods and issues regarding organisation but the aim of environmental scanning, the forming of new perspectives, has been largely ignored. The purpose of this thesis is to study how Swedish joint-stock banks put environmental scanning and Business Intelligence into practice. First a literature study is made to create a background and to explain the different conceptions. Then I describe the different functions of the different services in Swedish joint-stock banks.

In this study I have compared two systems of handling TMR, self-propelled/ self loading mixers and conventional towed mixers, what has been investigated is the time for filling, mixing and feeding TMR as well as maintenance and fuel consumption. The background of this study is the structural rationalization within the Swedish milk production that has put focus on efficiency and reducing of costs. Forage and labour are the two biggest costs in milk production today. The study has been performed by visiting three farms and with a stopwatch measured the times for filling, mixing and feeding TMR. At the time for the visits, the users have been interviewed regarding maintenance and fuel consumption. They have also had an opportunity to give comments of how they experience the mixers. The result of the study after processing is that the average stock in the study can save 74000 SEK a year by reducing time for filling, mixing and feeding TMR to cows with a self propelled/ self loading mixer . The conclusion I can make of this study is that it?s not the size of the stock that decides whether it?s interesting to invest in a self propelled/ self loading mixer, but the presumptions on the farms, for instance forage logistics and mechanical equipment..