Denna studie undersöker ifall det förekommer earnings management (EM) vid Stock-for-Stock-förvärv på den svenska marknaden. Tidigare forskning har gett tydliga tecken på att EM sker inför företagsförvärv och det finns starka incitament att använda sig utav det. Detta undersöks genom att studera om det sker en ökning av diskretionära periodiseringar, som mäts genom Modified Jones Model, åren innan förvärvet till skillnad från tidigare år. Studien undersöker även om målföretagets relativa storlek har en påverkan på EM. Undersökningens resultat från första hypotesprövningen indikerar att EM förekommer i svenska bolag redan tre år innan Stock-for-Stock-förvärv.

Background: Low Price-Earnings ratio, low Book-to market ratio and low Stock prices can give the impression that a Stock is ?cheap?. Is it through systematic use of these portfolio strategies possible to beat the market index ? in other words does financial illusions exist? Purpose: To examine if the Stockholm Stock Exchange is an efficient market. Limitations: The efficiency is tested solely through the chosen portfolio strategies: low Price-Earnings ratio, low Book-to-market ratio and low Stock prices.

On Nasdaq OMX Nordic Stockholm there has been a large increase in issues of preferred Stocks since the financial crisis 2008. Aiming to explain whether preferred Stocks have most of their characteristics relating to debt or equity, we answer four sub questions. Do all preferred Stocks share the same features, or do they differ from each other? Our population is similar in characteristics, except for the preferred Stock of Swedbank which is convertible and deviates when it comes to participation in dividends - instead of convertible the others are limited and redeemable. Further, the second sub question treats preferred Stock in relation to the common Stock quantitatively, in market data.

The purpose of this Bachelor thesis is to analyze if there is a correlation between Stock prices and the amount of searches of the companies names on Google. The theories used in the study were Capital Asset Pricing Model (CAPM) and Efficient Market Hypothesis (EMH). Regressions analysis is used as the statistical method to see if there is a significant correlation between the Stock prices and the amout of searches of the company name on Google. The data used were the rate of return of three companies (ABB, Oriflame and Sandvik) on the Nasdaq OMX Nordic Stock market, the rate of return of the Nasdaq OMX Nordic Stock market index (OMX Stockholm_PI) and the Google search frequency from Google Trends on each company. The result showed no significance and the conclusion of the thesis is that there is no significant correlation between the three studied companies and their search frequency on the search engine Google..

Forest as an investment alternative has become more and more popular over the last few years. Between the years 2004 and 2007 increased the price level on forest land with 70 percent in Jämtland. In this thesis a comparison has been conducted between forest in Jämtland and an investment in the Stock market. The risk in the two investment alternatives has been included in the comparison. The thesis includes two different studies between the two alternatives.

The implementation of IFRS 2 led to significant changes in the accounting practices for corporations regarding Stock related compensation. The new regulations required firms to account for the Stock based compensation as an expense in the financial statements, rather than merely disclosing the information in the notes section to the statements. Following prior research on the area; specifically studies made in the U.S., where researchers find that companies change their use of Stock based compensation due to the increased accounted expenses, this study hypothesizes that the same pattern may be found among companies listed on the Swedish Stock market. The results of this study show that the use of option incentives has decreased during the studied period 2001-2008 and that the decrease in part can be derived from IFRS 2 and in part from other factors. The results are useful to future research, as they provide an overview of the effects that IFRS 2 had on companies, and various factors that influence the behavior of corporations, as well as in a larger perspective be a factor to take into account for future modifications of the IFRS..

This study is based on an ongoing debate regarding the Stockholm Stock Exchange, which centers around the possible abolition of quarterly reports. The purpose of this paper is to contribute to this debate by examining how the relationship between financial reports and Stock price correlates. The study's methodological approach is based on the Capital Market Research frame-work in which an ERC model and an extended model are used to measure the relationship. Three hypotheses were formed to categorize the direction of the study, these categorizations treats the differences in impact between quarterly and annual reports on Stock price, as well as differences in impact as a casual effect of company size and seasonal sensitivity. The results of the study show that quarterly reports have a stronger impact on the share price than annual reports.

The purpose of this study is to find out the viability in performing final felling in stands with high timber volume or if it´s more profitable to leave these stands to the next owner. Will he or she pay more for the standing Stock then the industry? The prices of forest-land have increased significantly over the last couple of years in Sweden and some properties seem to go higher than others. Is this because of higher standing Stock volume or can a certain volume/hectare bring a higher price? Maybe a combination of both? This study is based on the the sale-statistics for 2012 from real-estate agency Areal.

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 purpose of this study is to examine the effects of joint venture announcements on Stock prices behavior and simultaneously to test the German Stock market (Frankfurter Wertpapierbörse) for efficiency. We tried not only to analyze the general impacts of a JV-announcement but also to look for differences in the market response to announcements of different types of joint ventures, namely: domestic, international, horizontal and vertical. Our expectations of efficient market were confirmed during our paper, which employed the technique of the standard event study. The calculation of abnormal returns which are the signals for market efficiency or inefficiency respectively were based on the market model, establishing linear relationship between the return on the market and the return on an individual security. The parameters of the model were obtained through regression analysis..

Introduction: Interplay between all the different subsystems of the financial markets is currently considered as an important internal force in the market. In a financially liberalized economy exchange rate stability is a basis for a wellbeing Stock market. If these interactions between all the different subsystems of the financial markets are not detected, this means that there is information inefficiency in the markets.Problem: Can we find any correlation between changes in currency, interest rate and bonds with the Stock market index? If so, how do these changes affect the Stockholm Stock Exchange?Purpose: The purpose of this study is to examine if there is any linkage between the interest rate, currency and bonds with the Stock market. The researchers wanted to find out how these variables affect the Stock market index OMX S30 which consists of the 30 largest companies on the Stockholm Stock Exchange.Method: This research has been based on a quantitative approach.

Background:It is always fascinating to observe the events that affect the Stock market, especially as the numbers of influencing factors are so many and various. Political elections are important events in society and affect the corporate environment in different ways depending on which political party that is in power. This brings up the question of whether political elections are important enough to affect the Stock market; and it is this question we intend to analyse in this paper.Purpose:The purpose of this paper is to investigate whether political elections affect the Stock market and to discuss the reasons for any possible affect that might be found.Procedure:An appropriate and thoroughly tested method to investigate if an event affects the Stock market or not, is to do an event study. Subsequently we chose to do an event study on whether the Swedish general elections in 2002 and 2006 affected the Stockholm Stock Exchange. In order to give the analysis more depth we have also chosen to interview people with knowledge of the Stock market.

Purpose: We have three purposes that will answer our problem questions. Our first purpose is to identify how diversification effects for investors changed between emerging markets and developed markets in the period 1996-2010. Our second purpose is to examine the two crises, IT and financial crisis, and if the correlations between these two crises have changed. Our third purpose is to examine to what extent the Swedish Stock market was influenced by other markets in the period 1996-2010, the IT and financial crisis.Methodology: The method is based on an analytic model consisting of two tools; Regression- and Correlation analysis. The Regression analysis will be used when investigating if a change in a foreign Stock market affects a change on the Swedish Stock market.

The purpose of this paper is to study whether or not Stock returns increase abnormally over month ends on the Swedish Stock exchange. Previous research has proven an international so called ?Turn-of-the-Month? effect where Stock returns increase significantly over a few days around month ends. If the effect exists, it is a violation of Fama?s Efficient Market Hypothesis.

Background: Operating on the Stock market is associated with risks. If a particular asset is not traded with the same frequency as the average market asset, this particular asset is exposed to a liquidity risk. It means that the investor might not be able to sell the asset at a desired time without incurring expensive transaction costs. The query is whether or not the investor is compensated with a liquidity premium for bearing the extra risk. Earlier studies on the Stockholm Stock Exchange have failed to prove that there is a relation between Stock return and liquidity.