Previous work by researchers as Eugene F. Fama and Kenneth R. French, show that average return on stocks are related to a firms characteristics like size and book-to-market ratio. These kinds of patterns in average return is not explained by The Capital Asset Pricing Model (CAPM), and are therefore seen as anomalies. Fama and French have proposed a three-factor model, which captures patterns observed in U.S average returns associated with size and value.

Prostitution has for a long time been an understudied field in economics. Due in part to a lack of quantitative and empirical material, itself largely a result of the illegality or semi-illegality of the activity in most countries, the factors that explain the prevalence of, and pricing in, prostitution have remained largely undiscussed. In the last 20 year, this have begun to change: new theories ? notably by Edlund & Korn (2002), Rao et al (2003) and Della Giusta et al (2009) ? have been formulated and the rise of internet based escort sites have made large scale quantitative studies possible. This thesis examines if, and in what way, court documents can help expand the understanding of the economics of prostitution in Sweden.

Purpose: The study examines the risk a rising from the acquisition of shares, and its relation to the expected return. We would like to see how a high-risk portfolio is related to a low-risk portfolio. Although studying the portfolios annual performance.Theory: The theories that have been used in the study are, Capital asset pricing model, CAPM and portfolio theory.Method: The study is based on a quantitative method, the time interval is from 2008 to 2010.The annual reports, historical stock prices for companies and the index are used to perform calculations based on the essay theories.Conclusion: The beta value has positive liner correlation with the expected return. When there are bad times in the world, the companies are negatively affected regardless of industry. The Portfolios developed in the same direction during the time period..

ABSTRACTTitle:Level:Author:Supervisor:Date:Aim:Method:Accepted price ? An Analysis of Cooperation in the Real Estate Markets and its Pricing.Final assignment for Bachelor Degree in Business AdministrationMadeleine Gustafsson and Sofie BillstamJonas Kågström2012 - MayThe aim with this final assignment is to investigate if the introduction and the cooperation of accepted price was necessary to generate a more stable real estate market with marketable listing prices in Stockholm. The introduction of accepted price led to a cooperation with some of the most important real estate firms in Stockholm. This cooperation was opposed by a number of companies on the real estate market. This fact inspired to examine similarities and differences of being and not being part of the cooperation and thereafter comment on the outcome.

Those who have invested in apartments, i.e. tenant-ownership, within the city centre of Stockholm have gained a higher than expected return on investment due to a buoyant real estate market. During the latest twelve-month period, the prices have risen more than 20 per cent in the city of Stockholm, resulting in an increased wealth together with a higher debt burden among investors. The aim of this thesis is to investigate which factors determine the prices from a micro perspective, and to what extent. An attempt is particularly made to estimate the degree of capitalization of the monthly fees; a factor which has turned out to be important according to other studies; but also to construct pricing models in order to set target prices for apartments.

Purpose: The study examines the risk a rising from the acquisition of shares, and its relation to the expected return. We would like to see how a high-risk portfolio is related to a low-risk portfolio. Although studying the portfolios annual performance.Theory: The theories that have been used in the study are, Capital asset pricing model, CAPM and portfolio theory.Method: The study is based on a quantitative method, the time interval is from 2008 to 2010.The annual reports, historical stock prices for companies and the index are used to perform calculations based on the essay theories.Conclusion: The beta value has positive liner correlation with the expected return. When there are bad times in the world, the companies are negatively affected regardless of industry. The Portfolios developed in the same direction during the time period..

To be competitive in the corporate climate of today it is important to have effective logistic activities. A common resource within the internal logistics is forklift trucks, which are used to lift and transport material. It becomes more and more important to decide whether to buy, lease or rent the forklifts to obtain an optimal economic situation. Many companies have issues with internal pricing. It is difficult to price products and services correctly. It is common to price the overall instead of what it really costs.The purpose of the thesis is to present a model for the acquisition of forklifts for internal logistic operations, regarding financing and internal pricing, to obtain economic effectiveness and an optimal forklift fleet size. The study focused on a specific research question, and for this purpose interviews with experts were held, observations were made and a literature study was done.

The purpose of this thesis is to investigate the two new phenomena; the pricing model Pay-What-You-Want (PWYW) and the launch of daily newspapers in the iPad. A quantitative study was conducted in order to examine what would happen if the PWYW-model where to be used by a daily newspaper for its iPad product, and what this would signal to consumers about the brand in terms of brand association and brand attitude. Furthermore, we have investigated which of these factors that are affecting willingness to pay in this PWYW-situation. Moreover, a secondary purpose was to test the two possible presentations of the digital newspaper in the iPad; Product and Access ? and how the results differed between these two.

Wind power is a growing energy sector in Sweden. However, it still represents only a small part of the total electricity production, about 0.7%. In order to create good conditions and to facilitate the establishment of wind power in Sweden, the government has for example, created a national centre for wind use. The objective has been to reach the governmental goal, which is an expansion of wind power by 10 TWh by year 2015 compared to the level in 2002. The Swedish electricity market was deregulated in 1996 which refers to the introduction of a competitive market in electricity production and trade.

This thesis explores some issues regarding estimations of the cost of capital on the Stockholm Stock Exchange through reverse engineering of the Residual Income Valuation model and through usage of the Capital Asset Pricing Model. Previous studies are in conflict of whether the risk premium changes considerably over time or not. Furthermore, the risk premium estimated by CAPM tends to be fairly stable. In this study, reverse engineering of the cost of capital implied by analysts? forecasts shows a significant difference in the risk premium over time.

Transfer pricing including internal loans have increased in recent years, making it easier for companies to minimize their taxable income. After the Swedish court case Diligentia, there have been discussions regarding the influence of a parent company's transparency and control of the subsidiary with regards to the interest rates on internal loans. In court cases that followed Diligentia, the Swedish Tax Agency argued that a parent company always could be assumed to have sufficient transparency and control of the operations in the subsidiary, and therefore reduce the risk on their debt obligations. This thesis seeks to analyze the effects of the transparency and control a parent company has with regards to interest rates on internal loans. The analysis is conducted by analyzing court cases similar to Diligentia.

Purpose: The study examines the risk a rising from the acquisition of shares, and its relation to the expected return. We would like to see how a high-risk portfolio is related to a low-risk portfolio. Although studying the portfolios annual performance.Theory: The theories that have been used in the study are, Capital asset pricing model, CAPM and portfolio theory.Method: The study is based on a quantitative method, the time interval is from 2008 to 2010.The annual reports, historical stock prices for companies and the index are used to perform calculations based on the essay theories.Conclusion: The beta value has positive liner correlation with the expected return. When there are bad times in the world, the companies are negatively affected regardless of industry. The Portfolios developed in the same direction during the time period..

With increasing wine consumption and a growing assortment at available to Swedish consumers, there is an interest in understanding the decision making process of Swedish wine consumers. In this thesis the expert phenomenon is studied with respect to wine through wine critic reliability: grading objectivity, understanding the process of wine criticism and possible critic influence on consumer behavior. Two studies were performed; a qualitative in-depth session of interviews with industry connoisseurs and a quantitative analysis of 589 online wine reviews. Our results indicate that wine reviews are highly subjective and defy prediction through analysis of external variables. Critics are likely to judge differently based on what information they have at hand, suggesting that expectations affect grading.

Denna studie jämför hur Capital Asset Pricing Model (CAPM) och Fama-French trefaktorsmodell förklarar och förutspår avkastning på en global aktiemarknad. CAPM utgår ifrån att investerarna förväntar sig en riskfri ränta adderat marknadspremien multiplicerat med företagens exponering mot marknaden. Fama-Frenchs är en utvidgning av CAPM modellen, där företagens storlek och book-to-market-värde läggs till som förklarande variabler för avkastning. Genom regressionsmodeller och prediktioner för portföljer indelade i storlek och book-to-market jämförs modellerna. Fama-French tycks vara genomgående bättre på att förklara och förutspå avkastning under perioden 1990m07-2013m02 för samtliga portföljer, förutom portföljen för stora företag med medelhögt book-to-market värde.

Risk-free profit sounds appealing. The opportunity to arbitrage exists. Investments in underpriced IPO:s can generate profit, but for whom?Previous studies have shown that underpricing is a common phenomenon. This study intends to investigate whether underpricing and the arbitrage opportunity exists on Aktietorget which is a smaller venue.