This thesis aims to investigate the Voting premium for companies differentiating voting rights between share classes on the Stockholm Stock Exchange. The Voting premium represents the value of a vote attached to the share. The Voting premium can be estimated from the price premium between two listed share classes with differentiated voting rights. Rydqvist's dissertation (1987) serves as a model for this study which investigates whether the theory of the so called "oceanic games", along with a proxy variable for cost of control, can predict the Voting premium during 2010-2012. To the original model developed by Rydqvist, control variables for differences in liquidity between share classes are added to investigate for an increase in the explanatory power.

The market risk premium is one of the most important parameters in finance. Its value and the ways to calculate a risk premium for the market is a widely debated subject. This thesis examines numerous ways of calculating a risk premium for the Swedish market with regard to how good an estimation they make of a real risk premium. Estimations based on historical periods ranging from 20 to 85 years is calculated as well as a premium based on forward-looking estimates. The real risk premium is solved out for a selection of companies and an index with the help of CAPM.

Syfte: Studien har två huvudsakliga syften. Det första är att beskriva hur proxy voting sker i Sverige och i hur pass stor omfattning proxy voting förekommer. Det andra är att analysera proxy voting utifrån den teoretiska bild som finns om bolagsstyrning och ägande.Metod: Vi intervjuade nyckelpersoner i proxy voting-processen och genomförde en enkätundersökning med företag på large cap-listan.Slutsatser: Svensk bolagsstyrning är i förändring, ägare som visar upp ett nytt beteende. Det ställs krav på bättre informationssystem hos företag för att hantera proxy voting. Delade meningar om proxy voting som metod..

Although previous research conclude that mergers and acquisitions do not always lead to improved profitability or increased shareholder return, the number and size of M&A?s is steadily increasing. In this thesis we examine why an acquirer pays a price higher than the market value. Can accounting data explain the size of the premium? 618 European transactions between 1997 and 2008 are examined and relationships between the targets? accounting data and the premium is analysed through statistical regressions.

Syftet med uppsatsen är att diskutera det så kallade equity premium puzzle. Jaganalyserar teoretiskt den intertemporala konsumtionsbaserade CAPM (C-CAPM),sammanställer en del av litteraturdiskussionen som finns på området samt empiriskttestar C-CAPM på svensk data. Fenomenet equity premium puzzle innebär attöveravkastningen på aktier är så stor att det inte stämmer med den ekonomiska teorin.Enligt teorin beror C-CAPMs riskpremie på kovariansen mellan konsumtionen ochaktieavkastningen. Litteraturen visar att forskare inte har lyckats förklara equitypremium puzzle genom att ändra antagandena i grundmodellen. Den empiriskaundersökningen visar att equity premium puzzle även uppkommer på svensk data..

Intention: The purpose of this thesis is to see if an active investment decision in the Swedish Premium Pension System would result in a higher return than a non-active investment decision. A non-active investment decision is equivalent to leaving the money in AP7 Premium Savings Fund.Method: This thesis is a statistical analysis and has a descriptive character in which the calculations are based on secondary data, thus the thesis has a quantitative character. Furthermore three active portfolios in different risk categories have been chosen. These portfolios are compared with the AP7 Premium Savings Fund?s returns.

The association between social parameters (i.e. socio-economy and level of education) and voting behaviour has been reviewed and analysed based on data from municipal council elections in Stockholm and Gothenburg in 2002. Some social scientists argue that the class voting is in decline and that new social cleavages have emerged. However, by using regression analysis techniques, this study implies a strong dependence of voting behaviour on social parameters, such as socio-economic status (SES) and level of education. Socio-economy appears to be a dominant predictor in the analysis.

When studying the voting behaviour of the Members of the European Parliament (MEPs) concerning the Services Directive within the EU, what patterns can be observed? With a starting point in previous findings about voting behaviour, this study analyses the results of the given Roll-call votes in the European Parliament in regards to the Services Directive. Here I focus on the division of votes within and between the member states and the parliamentary political groups; with the aim to identify patterns that might show clash of opinion concerning this issue. I found that ideology seems to play a role in the MEPs voting behaviour. Parties on the far left reach the highest level of cohesion and together with the party on the far right, they voted against the Directive, but due to different reasons.

Personer med kognitiva nedsättningar tillhör en av de största grupperna av funktionsnedsatta personer. Premium Comai är ett hjälpmedel för att hjälpa personer med kognitiva nedsättningar att bli mer självständiga i deras vardag. Denna målgrupp har framförallt svårigheter med de exekutiva funktionerna så till exempel att minnas saker de ska genomföra eller att uppfatta hur lång tid aktiviteter tar. Denna studie undersöker hur användandet av en digital kalender som hjälpmedel för personer med kognitiva nedsättningar ser ut och hur användare av upplever hjälpmedlet, om de upplever att det hjälper dem planera sin tid och att komma ihåg. För att undersöka detta intervjuades användare av Premium Comai, där intervjutekniken var semistrukturerade intervjuer.

Identification and analysis of key success factors for an entrepreneurial firm to achieve leverage when establishing on a foreign market with a premium consumer product..

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.

A1278Undersökningen behandlar Premium Wines vinklubb och ger förslag på hur den kan utvecklas med hjälp av de två första stegen i Stephan Butschers trestegsmodell. Lojalitetsprogram blir alltmer populära, men för ett alkoholimportföretag som det undersökta gäller andra förutsättningar då man begränsas av lagstiftningen. Därför gäller det att förlita sig på bra förmåner med högt uppskattat värde hos medlemmarna istället för enbart monetära förmåner.Premium Wines kundklubb har kartlagts genom intervjuer med klubbens Chief Inspector, som även medverkat i en brainstormingsession för att få fram möjliga förmåner. Därefter har en enkät med poängsättning av förmånerna besvarats av klubbmedlemmar under en vinprovning.Premium Wines nuvarande förmåner fick höga poäng, liksom ett antal av dem som tidigare övervägts. En vidareutveckling av klubben, som startade 2003, är planerad, och de områden företaget bör koncentrera sig på är förutom förmånerna rekrytering av nya medlemmar, datainsamling, kommunikation med medlemmarna och olika sätt att få intäkter från klubben..

This thesis aims to evaluate the concept of Uncovered Interest Parity. The parity states that the logarithmic difference between domestic and foreign interest rate equals the logarithmic difference between expected future spot exchange rate and the spot exchange rate, . In defining the exchange rate it is often presumed that the parity relation prevails even though several studies suggest the opposite. Numerous economists maintain that the theory?s shortcomings can be explained through the existence of a Risk Premium.

This thesis aims at studying the development of the party cohesion in the Swedish national parliament, riksdagen, after the introduction of preference voting in the election of 1998. The party cohesion has been measured during parliamentary sessions before and after the reform. The result of the cohesion during each of the sessions has then been compared towards each other. The cohesion was measured between the members of parliament viewed as a whole, and within the party groups during the different sessions. The research method being used has been a quantified statistical voting analysis, making the comparisons of party cohesion during the different parliamentary sessions as easy as possible.

The aim of this study is two folded. We wish to investigate if there is a value premium from hedging jet fuel exposure for American and European airlines. We also seek to answer if airlines can affect their probability to default by using Risk Management. During the period 2003 ? 2006 there existed a value premium for airlines that hedged their expected future consumption of jet fuel.