Mergers and acquisitions are common phenomenon in today´s society in order to increase shareholder value. Two years ago a fusion of Sweden´s two largest companies in the industry of real estate took place and even though three out of four mergers and acquisitions financially fail this certain case turned out highly successful. The aim of this thesis is to examine how the organizational structure and the management control have been designed and characterized the organizational performance and furthermore what are the success factors of the integration. By studying an acquisition and its potential effects on organizational structure and management control parallel to a model that describes the best practice guidelines for managers to successfully deliver value from their acquisitions, it can be shown that an acquisition has direct effects both on the acquirer and the acquired company and thus the new organizational structure. The main results, thus, is that through active leadership, increased specialization, and more decentralized and thus efficient management control a new organization has emerged consisting of the best features of two separate worlds..

Title: "The proper real estate agent"- a paper on expectations for new real estate agent's first impression. Level: Bachelor of Science in Business Administration Author: Jennifer Alm Supervisor: Jonas Kågström Date: 2011? June Aim: The purpose of this paper is to analyze how hiring managers in the real estate broker understand the jobseeker during interviews. This analysis is based on the recruiters description of the first impression and the non-verbal communication in comparison with relevant theory. Method: I began my research by studying scientific articles to obtain great knowledge of the subject and write my theory chapter.

As a result of increased property prices on apartment buildings in Halmstad many local investors thinks that the market behaves illogical. This because these investors can?t find any profitability in many real estate transactions. The valuation between different investors on the same object therefore goes their separate ways. One example of this is a property in central Halmstad which starting price was about 23 million SEK.

The recent turbulence in the financial markets has contributed to the banks becoming more restrictive to lend to real estate financing. Deleveraging in Europe's banking sector has also contributed to banks reducing their leverage and increasing capital adequacy to meet the new requirements. Loan-to-value ratios in real estate loans have fallen while banks' interest margins have increased, which has made property investors to look for alternative sources of funding in the capital markets. The two most interesting forms of financing for real estate right now is bonds and preferred shares as they fit property companies that generate stable and predictable cash flows. A bond is an interest-bearing debenture certifying that the purchaser has lent money to the company that issued the bond.

Title: "The proper real estate agent"- a paper on expectations for new real estate agent's first impression. Level: Bachelor of Science in Business Administration Author: Jennifer Alm Supervisor: Jonas Kågström Date: 2011? June Aim: The purpose of this paper is to analyze how hiring managers in the real estate broker understand the jobseeker during interviews. This analysis is based on the recruiters description of the first impression and the non-verbal communication in comparison with relevant theory. Method: I began my research by studying scientific articles to obtain great knowledge of the subject and write my theory chapter.

In Sweden the real estate sector accounts for 33 % of energy consumption and just below 10 % of the emission of carbon dioxide. As a consequence of the external pressure from climate change it?s in everybody?s interest to reduce the energy consumption and thus reduce the emission of carbon dioxide. An additional incentive to reduce the energy consumption is the substantial increase of the energy price since the deregulation of the electricity market in 1996.In this study the techniques that exist to build multi-storey residential buildings with high energy performance will be investigated. Further the study intends to investigate the optimal energy performance from a real estate economic perspective.In order to investigate the optimal energy performance a model has been created with the parameters investment cost, rental revenues, operation and maintenance cost, discount rate and investment horizon.The result shows a relationship between a high investment cost and a high energy performance for newly constructed multi-storey residential buildings.

This essay puts its focus on examining vendors? underlying decision criterias when choosing an estate agent at the purpose of selling an apartment. The purpose is on one hand to expound the knowledge of the vendor?s decision process and on the other hand to evaluate how the choice of an estate agent is perceived to the vendor. By nine interviews we explored what reasons made vendors choose their agents and whether they were contented with their choice.

To purchase a house or an apartment is often one of the major personal financial commitments for a person. In 2005, 84% of the homeowners sold their homes using a estate agency. During 2006 several new opportunities appeared on the market, giving the homeowners more of a choice in what way to sell their homes. Media describes the alternatives in general ?as the agents on the Internet?.

Today's real estate buyers value the purchase different today compared to a decade back. Previously it was the return value that ruled the market. This has created problems when the broker must allocate the purchase price of the property's various elements, because non-monetary values such as forest for leisure, recreation, and the feeling of owing has increased in recent years and an increasingly important part in the valuation process. The assessed value can be a guide, but is perceived today to be stereotyped to put a fair value at the individual item. The purpose of this study was to provide the real estate agent decision support and a guide to the likely value of accounting for the purchase price. The report is written on behalf of LRF Konsult. The result is based on a questionnaire survey which was conducted in June 2014 among all those who had bought a farming property in Dalarna and Gävleborg province mediated by LRF Konsult in 2013. The report was made with a split to see if the valuation and motives differ between new and previous owners. It was possible to see a big difference in the reason for the purchase, where a large share of new owner bought the land for capital investment, in contrast to previous owners whose biggest group bought for an active use. At several points it was possible to identify a higher non-monetary value of the new owner from the previous landowner.

Recent studies made by Margaritis and Psillaki,have shown that a lower debt ratio and higher efficiency are correlated in their studies performed oncompanies in New Zeeland. Other researchers have been able to show a connection between other industries than the one used in our studies,among these are Titman and Wessler. These studies have been done with a great selection of companies in different industries and time periods. However most of these researchers have used traditional ratios and variables.This study aims to find and analyze connections between returns and lower debt ratios in real estate companies listed on the Stockholm stock exchange. Instead of the traditional debt-equity ratio we will construct our own taking long term debts and property assets.

Purpose: The main purpose of the thesis is to examine the consequences of applying IAS40 on the Swedish real estate companies? annual reports. How does its application affect the companies? stockholders? capital and how do the companies solve the problems that occur due to the application of this standard.Method: The authors use both the qualitative and quantitative approaches to process the thesis. The primary data comprises of hard data in form of annual reports and the secondary data consists of the soft data as direct interviews and email interviews.Theory: There aren?t any theories on the subject.

AbstractTitle:Behovet av kundorientering i fastighetsföretag, finns det?Author:Joel Nilsson ErlemanTutor:Agneta SundströmPurpose:Thru a quality point of view, examine and analyze how Akelius AB customer orientatesthem self in an area such as Brandbergen, were the demand is larger then the supply.Method:Through a qualitative research approach with an inductive and a hermeneutic orientation thestudy approaches Akelius AB and the company?s costumer orientation thru several interviews and asurvey. The gathered data?s purpose is to answer research questions to investigate how costumerorientations function and to how to implement it in real estate companies.Theory:The theory explains the meaning of customer orientation and its use in real estate companies.The theoretical discussion is based on a five-gap model, which is used to analyze the service quality inAkelius AB and to analyze the relation to their costumers.Empire:The findings show how Akelius experience costumer orientation in Brandbergen and thecostumer?s perception of Akelius AB service quality.Analysis:Compares the theory and the empirical data to see the service quality thru using the GapModel.Conclusion:Akelius AB satisfy their customer?s need in what could be expected of them. In thesituation with increased demand and lower supply Akelius AB have the possibility to offer theircostumers a much lower quality than the costumers usually wants and expect.

Syfte: Vi ska analysera hur fastighetsmäklare värderar småhus och hur de använder sig av taxeringsuppgifter, det vill säga de egenskapsuppgifter om tomtmark och småhus som samlats in vid fastighetstaxeringen från fastighetsägarna. Vi ska även sammanställa en modell över de faktorer som har central betydelse vid uppskattning av marknadsvärdet.Metod: En kvalitativ metod har använts där vi genomfört personliga intervjuer med fastighetsmäklare. Teorin baseras på relevant litteratur, vetenskapliga artiklar och elektroniska källor. Empirin redovisas genom en kategorianalys.  Resultat & slutsats: Vi har kommit fram till att fastighetsmäklare med erfarenhet inte följer de steg som teorin tar upp vid fastighetsvärdering.

The purpose of this thesis was to investigate how an industrial company can increase customer value by offering added services to their core products. Theses added services can be categorized into the three different parts of the buying process. The company that was investigated is Smurfit Kappa Kraftliner in Piteå, a large international industrial company active on a business to business market. We have conducted a case study and made interviews with three respondents within the company. The result of the study show that the company offers value added services in each stage of the buying process.

Background:Investments in different forms have always been popular to every human being. For the most common investments, such as stocks and bonds, there are loads of information to gather for the investor. Historical data like risk, return, dividends and fundamental data like annual reports are often very easy to find, regarding these kinds of investments. The background of this thesis is the lack of market information in residential real estate investments. A problem with this investment is that there is lack of information regarding risk adjusted return for real estates, which this thesis intends to present.Objective:The objective with this thesis is to study which alternative, directly-owned residential estates or stocks, who generates the highest risk adjusted return.