Syfte: Undersöka om det är möjligt att generera en överavkastning på aktier gentemot marknadsindex på OMXS Industrials enligt Net Current Asset Value strategin.Metod: Studien baseras på en kvantitativ metod för att undersöka historiska aktievärden. Datan som används i undersökningen hämtas från Thomson Reuters Datastream och de statistiska värdena bearbetas i Microsoft Office ExcelTeoretiska utgångspunkter: Studien har sin förklaring med utgångspunkt från teorierna om den effektiva marknadshypotesen och CAPM modellen, samt ett avsnitt som utreder principerna om hur värderingsstrategier bör följas.Resultat: Beroende på längden av innehavsperioden visar studien att det i de samtliga fall är fullt möjligt att överträffa marknadsindex, och att den riskjusterade avkastningen i de flesta fall är högre än marknadsindex..

Sammanfattning Uppsatsens titel: The accruals anomaly in SwedenSeminariedatum: 2007-06-04Kurs: Corporate Finance - Master Thesis BUS860, D-nivå, 10 poängFörfattare: Hedda Giaever, Tobias GabrielssonHandledare: Maria GårdängenFem nyckelord: Accruals, Anomalier, Hedge, Överavkastning, IrrationalitetSyfte: Undersöka om investerare på den svenska marknaden tar hänsyn till att accrualskomponenten av företags vinster säger mindre om framtidig vinst jämfört med kassaflödeskomponenten.Metod: Vi använder pool data för att undersöka de prediktiva värdena hos företagsresultatets olika komponenter. Ett Mishkintest på paneldata används för att undersöka om investerare tar hänsyn till de olika prediktiva värdena hos kassaflöde och ?accruals?. Vi använder slutligen hedge portföljer för att kvantifiera våra resultat. Teoretiska perspektiv: Effektiva marknads hypotesen, Hypotesen om rationella förväntningar.Empiri: Poster från balansräkning samt avkastningsdata är hämtad från Thomson Datastream.Resultat: Accrualskomponenten av ett företags vinster säger mindre om framtida vinster jämfört med kassaflödet från den löpande verksamheten.

This paper is about if municipal council's ideology affect steering in the municipalities of Vellinge and Fagertsa. Vellinge has for a long time been governed by Sweden's conservative party Moderaterna. Fagersta has for a long time been governed by Sweden's left party Vänsterpartiet. The main question of the paper to be answered is as follows:Is there a relation between the steering in municipalities and the ideology of the governing parties?The hypothesis is that there is a connection between what ideology the party that governs has and how the municipalities are being governed.

This thesis emphasizes the importance of understanding the employees? attitude and motivation towards their workplace at a company that works in the advertising business. An example company; thcommunication agency PS Communication in Stockholm, was used for the empirical part to investigate the purpose. The topic is interesting since the company works in a fast changing environment with new techniques,tools and professionals and the company is also going through an expansion that include many new recruitments.The purpose in this thesis is as follows: ?the purpose of this study is to elucidate the fate of attitude and motivation of employees in relation to the workplace during business expansion, if performance is reduced and competition increases.?The analysis and results shows that attitudes andmotivation among the employees in the workplace has deteriorated, the employees agree that it is due to expansion the company is undergoing.

This essay discusses and evaluates the international currency market in regards to efficiency. To prove the theory that, the difference between expected and actual exchange rates is explained by the difference in expected and actual interest rates and the difference in expected and actual inflation between countries, a model was developed. This model was inspired by the paper of Sebastian Edwards (1982), and is based on three theories; UIP, IS/LM and the Efficient Markets Hypothesis. The model uses 16 regressions estimated from three pairs of curriencies: $/SEK, £/SEK and ?/SEK.

Tree fiber lengths controls properties like strength and smoothness in paper and other wood products. For forest researchers it is of interest to be able to determine the fiber lengths in standing trees. Mo?rling et al. (2003), among others, have developed methods to estimate fiber length distributions in standing trees without damaging them.

This paper examines the amount of influence that upper secondary school pupils of the Swedish voluntary school system. The curriculum clearly states that democratic values are to be instilled with the pupils at an early age, and that the pupils are to have a degree of democratic influence over their tutelage. This paper is based upon a survey, which involves one hundred and fourteen pupils at the Malmö Latin gymnasium. The hypothesis argues that upper secondary school pupils in Sweden have very little knowledge in this area and it contradicts much of the previous research done in this field. The pupils´ ages vary from fifteen to eighteen years of age.The survey shows that the pupils of this school have little or no knowledge of their democratic rights within the school boundaries.

This paper deals with three mediaeval churches in the town Visby, Gotland. These churches were located in different areas in Visby. Allegedly the areas where St Hans and Ste Gertrud were located were inhabited by wealthier people, and the more peripheral area where St Mikael was located was where the poor lived. Therefore, the people that were buried at St Mikael should be of lower social status than the people buried at St Hans and Ste Gertrud. Based on the fact that an individuals diet was dependant on his or hers social status, dietary studies on skeletal remains from the three different churches have been conducted to find out dietary patterns among the individuals buried at each church respectively.

In this paper integration and inclusion were analysed in both theory and practice to see what they mean for pupils who reqire special support or pupils who have Swedish as a second language in compulsory school. The purpose of this work was to investigate whether inclusion is the best way of reaching the goal of a school for all children. A literary study, was conducted to test this hypothesis. The literature used for this purpose includes non-fiction books, handbooks, newspaper articles, declarations, conventions, and learning and course plans. Qualitative interwiews were held whit a remedial teacher, a Swedish-as-a-second-language teacher, and a class teacher who contributed greatly to this work thoough their experiences and vast knowledge.

The aim of this study was to find out if hypertext structure has any relevance for the efficiency of information retrieval. An experiment, in which three variants of hypertext structure were compared, was carried out in the autumn of 1998. Three websites with different structures were constructed for this purpose: a sequential version, a hierarchical version and a webcluster version. 44 subjects, all students at the University of Lund, were randomly divided into three groups. Subjects were requiered to answer a number of questions using one of the three versions.

The purpose of this essay is to examine the development of the use of private securitycontractors in Iraq. The reason is that there has been a considerable increase of the number ofprivate security firms operating in Iraq during the last couple of years. The legislation in thefield of private military and security is indistinct and my hypothesis is that the lack of nationaland/or international legislation can be connected to the increased globalization. To come toany conclusions about this I have chosen to make a comparative study between the two casesthe Gulf War and the War in Iraq which started in 2003. In this comparison, I ask thefollowing questions: 1) Are there any signs of anarchy in the field of private security duringthe Gulf War respectively the last War in Iraq? 2) In what way has the use of private securitycontractors changed from Case 1 to Case 2 ?According to my research, there were signs of anarchy in the field of private security bothduring the Gulf War and during the latest war in Iraq.

The object of this study has been to establish whether there is a correlation between a teachers efforts in presenting, working with and creating a connection to ?real life? when working with fictional texts. A further hypothesis is that presentation, realization and the follow up activities has a correspondence to how well the goals for the lesson are achieved. In order to achieve the presented objects the methods of observation and interview are chosen. Firstly classroom observations are made and subsequently interviews with teachers that struggle with these questions on a regular basis are conducted.

This paper provides a study about human trafficking with sexual motives performed in European states and the measures taken from national, international and Non-Governmental organizations with the purpose to oppose human trafficking. According to the UN human trafficking has increased and shows tendencies to continue escalating, regardless of the measures taken by various organisations. In this study, four countries with associations to human trafficking have been chosen and organisations related to these countries are studied. The purpose is to inquire into how these organisations work against human trafficking and which objectives and guidelines these organisations strive for together with their values. The aim is to find out which result the organizations efforts gets and if, according to my hypothesis, the efforts oppose themselves.

The objective of this essay has been to show how the image of the Soviet Union in ?Alla tiders historia? differs in the 1989 and 2004 editions of the book. To explain these differences I have used a discourse analytic perspective, mainly inspired by Michel Foucault and his philosophical theories of the constructions of objects, and also Faircloughs critical discourse analysis inspired by Gramsci.In this paper the two editions of ?Alla tiders historia? are presented with quotes which are then analysed from using my theoretical framework. In the 1989 edition three themes emerged: continuity, undecidability and ambivalence, which together present an image of a Soviet Union which is not clearly defined within the political discourse.In the 2004 edition this struggle over the discourse has been settled and the Soviet Union?s position as a dictatorship has been determined, at the same time as the Soviet Union is put in a negative relationship with Czar Russia and is connected with Nazi Germany.

The xenophobic attitudes in Europe are stronger than even. Never before have the member states had as many right-wing parties in action. The aim with this report is therefore to consider whether the Schengen cooperation has had an influence on the development of xenophobia in the member states of EU. The Schengen cooperation became a part of the European Union in 1997, with the aim to abolish the internal border controls for citizens and strengthen the external boarders towards non-members. The intention is furthermore to investigate whether the distance to Schengen ?s external boarder has an impact on the xenophobic attitudes.Three countries are compared: Italy, Netherlands and the United Kingdom.