Scania?s discount rate - the return requirement of investments - refers to Scania?s WACC or weighted average cost of capital. The capital markets return requirement on equity and the credit market interest cost of borrowing is weighted to become the single discount rate, the WACC. The purpose of this study is to investigate which asset pricing model of APT and CAPM Scania should use in their WACC calculations. The company now uses a group WACC of 11 percent which is used in all company levels.

Stock lending is primarily a professional activity. The supply of stocks in the lending market comes mainly from pension funds and insurance companies, while intermediaries provide valuable services by taking positions as borrowers as well as lenders. Borrowers use stock lending for various reasons. For instance, hedge funds usually borrow stocks to cover a short position. There has been a lot of controversy in the stock lending industry and the debate has mainly concerned its effects for the stock markets.

Stock lending is primarily a professional activity. The supply of stocks in the lending market comes mainly from pension funds and insurance companies, while intermediaries provide valuable services by taking positions as borrowers as well as lenders. Borrowers use stock lending for various reasons. For instance, hedge funds usually borrow stocks to cover a short position. There has been a lot of controversy in the stock lending industry and the debate has mainly concerned its effects for the stock markets.

The union organization rate has continuously diminished since the mid 90's. The aim of this essay is to investigate non-members approach to the union. Central questions are what personal experiences the respondents have of the union and how they view the union as a phenomenon. According to previous research the main cause of the great decline in membership to LO are the increased membership fees to the union and the unemployment insurance funds (UIF) in 2007. The increased fee led to a greater accumulated cost for those who were both union- and UIF -members, which had a negative effect on the membership numbers for the union.

The purpose of this report was to investigate how the abiotic factors (temperature, pH, nutrients, oxygen levels and water content) would affect the decomposition of oil-contaminated soil and how a variance in structured soil would affect the decomposition-rate. A minor field-study was made and soil where structured in five different ways (one was a default pile and was used as a reference). The study took place over 137 days and three samples were taken (start, middle, end) and analyzed for aromatic and aliphatic compounds. The result of this study shows that there is a significant difference between all methods for the aliphatic compounds and no significant difference for the aromatic compounds. The abiotic factors that affect decomposition vary from organism to organism, depending on what type of environment it will function the best.

The aim of this study was to find possible relations between behaviour and physiology for puppies during different parts of a puppy test. This work deals mainly with the physiological part of the study. Thirtysix puppies, från five litters, were tested in a behaviour test where heart rate was measured and saliva samples were collected before and after each part in the test. Saliva and urine samples were analyzed for corisol concentration as an indicatior of stress. The tests were performed during two consecutive days in the breeders' home when the puppies were seven weeks old. In addition, heart rate and cortisol levels were also measured in the bitch since we were interested in finding out if there were any relations between physiological levels in bitches and puppies.

Energy is an essential part of the society and for a sustainable future we need to use the energy resources in a sustainable way. The forest is Sweden?s most important resource for renewable energy and a higher production combined with shorter rotation periods (time from planting to clear cutting) can increase the access to energy. The tree genus poplar (Populus spp.) is interesting as energy resource as it has both high production and short rotation period. But browsing ungulates are a major threat to the establishment of poplar plants and therefore the poplar plantations need to be fenced in today. To use fences is expensive and time consuming; this makes it interesting to find more cost-effective solutions where there is no need to fence. The aim with this study was to look at the ungulates? occupation rate and browsing pressure in poplar plantations without fence.

Hard-to-heal ulcers are resource intensive due to the fact that they are difficult to treat and especially vulnerable to bacterial invasion. The bacterial culture contaminating these wounds often consist of several different bacterial organisms that originate from endogenous sources. Necrotic material in ischemic ulcers provide nutrition which support bacterial reproduction, increasing the risk of infection. Determining causative pathogen in infected ulcers proves to be difficult when culturing swab samples, however Staphylococcus aureus and hemolytic streptococci generally act as primary pathogens.    The aim of the study was to investigate if the detection rate increased for S. aureus and hemolytic streptococci when culturing swab samples from ulcers on Columbia CNA; a media selective for gram-positive bacteria.

This report studies the possibility of using some sort of radio sender and transmitter in order to position skis lost in powder snow. It is concluded that a RF-solution on the 433 MHz frequency should be the most efficient. Different forms of directional antennas are examined and studies show that in theory the best suited is the so called ?Yagi-Uda antenna?. A solution based on using a Receive Signal Strength Indicator value together with the above mentioned directional antenna is developed.

AbstractAuthors:Stefan Harrå and Magnus BjörkAdvisor: Markku PenttinenTitle: Accounting Consequences of the change in pension accounting Background to problem: When the revised IAS 19 comes into force January 1, 2013, it means that two of the three accounting principles for defined benefit pension plans are disappearing, including the corridor method. The corridor method has made it possible for companies to defer its actuarial gains and losses. Now that the corridor approach abolished then the unrecognized actuarial gains and losses immediately be covered by equity, which involves very large amounts of some companies. Why the amounts have grown so big is much because of the discount rate. The discount rate is a controversial parameter, and there is disagreement on how it should be fixed.Purpose: The purpose of this thesis is to examine the accounting implications this will have for the company applied the corridor method, and if there is some parameters in the actuarial assumption that is more important than others.Methodology: The thesis has mainly been based on a qualitative research through qualitative interviews with a small sample that is affected by this change.

This paper includes astudy of the mutual fund market investors during a selected timeperiod. The reader is given a descriptive picture of how people in different age groups have  acted  in  conjunction  with  the  last  major  financial  crisis.  It  has  been  studied whether people in the different age categories have saved,purchased or sold during this time  period  based  on  theories  and  analytic  material  from  one  of  the  largest  fund operators in Sweden. The result enlightens people?s activity and risk appetite in relation to the fund market. The essay results in an explanation of the underlying cause of the behavior        of         the         people         in         the         different         age         categories.The paper assumes that the market is cyclical and that more crises will occur in the future.

Bakgrund: Fonder är en sparform som har utvecklats och blivit en av de mest populära och framgångsrika placeringsformerna på marknaden. Många företag väljer därför, efter en högkonjunktur följd av möjlighet till reservsparande, att investera på fondmarknaden för att kunna öka sitt kapital under kommande lågkonjunktur. Att välja en stor och trögrörlig eller en liten och snabbfotat fond kan vara av avgörande karaktär när man ska se till utvecklingen.Problemformulering: Har fondstorleken betydelse vid placering i fonder under lågkonjunktur?Syfte: Klargöra huruvida fondstorleken har betydelse för avkastningen vid placering i svenska aktiefonder under lågkonjunktur.Metod: Studien använder sig av metodtriangulering där ett kvantitativt upplägg kombineras med ett kvalitativt inslag i form av en intervju. En deduktiv ansats anammas.

An organization must manage its resource consumption and material flows in order to satisfy the demand of its products as efficiently as possible. Managing of the aforementioned requires a balance between the organizations resources (such as the capability of distribution and production) and the market demand. According to Gardner (1990), an estimation of future demand is a necessity for maintaining the balance. An instrument that is used frequently to estimate future demand is demand forecasting. The demand forecasting practice has been thoroughly studied and a plethora of academic contributions exist on the topic.

AbstractEmbla 5 is an office building which has done a large improvement. The clients of this building has made an order of WSP and the student Anders Kempe to calculate the use of energy for the building, and after that result proposing further measures which can decrease the energy use of Embla 5.The ground for this report is when calculation of the present energy use of the building is stated. To make that information of a number of parameters such as envelope, the heating system and ventilation has been located and set in to the simulation program IDA ICE which calculate the energy use.To improve the energy use further this project has been concentrated to change the system of ventilation. Today the ventilation system is of the kind CAV (constant air volume) and the air flow is dimensioned for after recommendations from BBR and Arbetsmiljöverket in the office spaces. Consider that Embla 5  is an office building where the people only staying for 8-10 hours/day so was the ide to see how much energy saving if the air flow is reduced the time people not being in the building.

This paper analyzes the Swedish labor market during the interwar and early postwar period within the framework of modern labor market theory. The development of unemployment during this period - according to the commonly cited source of labor union reports - represents a conundrum for research. The unemployment rate rose after the initial diverse shock of 1921 and stayed at a permanently higher level for the rest of the interwar period. This development was reversed after World War Two when the unemployment rate decreased and stayed permanently low for the rest of the postwar period until the oil price chock of the 1970s.In a first step the available sources of unemployment statistics is investigated and compared. The general conclusion is that the labor union reports overestimate the level of economy wide unemployment while being a reasonably good indicator of movements in the rate.