This thesis conserns Stock options. The writers major task has been to analyse and to show under which circumstanses, according to swedish law, options are considered to be Stock options..

The thesis main objective is to establish the determinants for granting executive Stock options and to examine their impact on performance for firms listed on OMXS30. The analysis is based on accounting data gathered from annual reports and Thomson Datastream. The empirical results display that firms grant Stock options to mitigate the principal-agent problem. Furthermore, risk proves to be positively significant with executive Stock options, implying that either executives increase the level of risk after being granted Stock options or influence the decision of the remuneration towards Stock options when the firm increase the level of risk, in purpose to boost the expected value of their options. No relation between executive Stock options and firm performance could be established..

The purpose of this essay is to evaluate Stock index bonds return to risk ratio in order to investigate to which degree an investor in a Stock index bond take part of the underlying index return and what the investor must pay for the security of not losing his funds. In order to carry out this evaluation an average return per year and the Sharpe ratio will be calculated and a mean- standard deviation analysis will be made. All investigated Stock index bonds are based on a Swedish underlying asset.The results show that the Stock index bonds haven?t generated a higher risk adjusted return than its underlying asset. The Stock index bonds took part of 57 % of the underlying assets return, and the loss of 10 percentage points per year for the Stock index bonds compared to its underlying asset can be seen as the cost for the guarantee a Stock index bond gives..

Objective: The objective of this study is to examine the extent to which the London Stock exchange and the US Stock exchange Nasdaq respectively contributes to the price discovery of Swedish Stocks listed on the Stockholm Stock exchange, the London Stock exchange and the US Stock exchange Nasdaq.Method: The study is a replicate study of the studies by Grammig, Melvin and Schlag (2000) and Eun and Sabherwal (2003). The methodology is based on the methodology of the latter study. The data material consisting of quoted Stock prices for three Swedish Stocks on the three Stock exchanges at five-minute intervals during a 49-day-period in 2003 has been run through different statistical tests in a five-step process.Conclusion: The evidence of this study shows that prices on SSE, LSE and NASD are cointegrated and mutually adjusting. The evidence suggests that in all three cases, price discovery takes place on the home Stock exchange SSE. Moreover, LSE contributes more to price discovery than Nasdaq.

The purpose of this study is to examine the expiration day effect on a Stocks volatility due to Stock option expiration, which is every third Friday in the month on Stockholm Stock exchange. Volatility is the standard deviation of a Stock. It measures the uncertainty about a Stocks future movement. When volatility increases, the chance or probability of a Stock going up or down increases. It?s a common rumor among Stock traders that Stock volatility tends to increase nearby expiration day.

This study examines how the Stock prices are affected when articles, which negatively describe the companies? incentive programs, are published. According to the efficient market hypothesis, only new information should have an effect on the Stock price. Furthermore, this study aims to examine whether this reaction is dependent of the economic climate. During the period of September 2005 to September 2009, Stock price data was collected from the NasdaqOMX Stock exchange and 75 articles were gathered from leading Swedish newspapers.

Previous research has found an increased transmission of Stock movements in Europe, partly caused by the establishment of institutions as the EU and the EMU. The purpose of this paper is to find the possible impact from the EU and the EMU concerning the evolution of international transmission of Stock market movements, on four Scandinavian markets, Denmark, Finland, Norway and Sweden. The research is based on primary data, existing theories and earlier studies regarding international transmission of Stock market movements. The examined method is a VAR (Vector autoregressive model) including a 10x1 vector of variables. Furthermore the tests considered are correlation, granger-causality, variance decomposition and impulse response.

The aim of this study was to develop a simple model for calculating Stock costs for bio fuel at Billerud Karlsborg and subsequently recommending a suitable Stock level of bio fuel. The Stock components considered in the model are GROT (branches and tops), bark, dry wood chips, raw wood chips from barking and sawdust. The calculations are based on a probability distribution of historical deviations between ordered and delivered volumes. The model presents two different ways to manage the supply in case of irregular deliveries. The first way is to Stock enough volume to cover the deviations and the second way is to compensate with a quick purchase from the spot market (at extra high purchase prices).

The swedish rule concerning the treatment of employee Stock-options have changed and the new wording of the rule will be applicable for the first time in 2010. The previous wording of the rule stated that the employee shall be taxed for the Stock-option when moving abroad, even if the option is not exercised. The Swedish Skatteverket and Regeringsrätten have found that this rule is in conflict with the free movement of persons within the European Union. The new wording of the rule states that the employee shall be taxed when the option is excercised, no matter where the employee is situated. A state`s right of taxation of a Stock-option determines wheter and to what extent the employee Stock-otion derives from that state..

We investigate if the size of goodwill compared to total assets has any effect on the shareholders return on companies listed on the Swedish Stock market. We put up two different hypotheses with a foundation from previous research and later dismiss one of them. Our evidence does not show any indicators that the size of goodwill have an effect on the shareholders return, which brings us to believe that there, from a share holders point of view, isn?t any need for concern regarding the standards about accounting for goodwill as stated by IFRS. .

It is easy to see that oil has a big part in our economy, by looking at the repeated news from the media and at the Stock market, where they follow the oil price very closely. Behavioral finance is about investors making small or big mistakes in the Stock market. Behavioral finance describes the importance of understanding your own faults, as well as others investor?s faults. Behavioral finance emphases the importance of not assuming that the financial market is a flawless environment, but to understand the psychology behind investment decisions.

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.

Previous research has shown that the market reacts on Stock recommendations. As the Internet has made financial information more available and cheaper to assess one could believe that the market reflects more available information today. If this is true the market will react less on recommendation made by journalists, which generally consists of processed public information. The Stock market should thus be more efficient according to the efficient market hypothesis. This study examines initially if we can conclude that Stock recommendations made by journalists generate returns above the expected returns, hence abnormal returns.

The swedish rule concerning the treatment of employee Stock-options have changed and the new wording of the rule will be applicable for the first time in 2010. The previous wording of the rule stated that the employee shall be taxed for the Stock-option when moving abroad, even if the option is not exercised. The Swedish Skatteverket and Regeringsrätten have found that this rule is in conflict with the free movement of persons within the European Union. The new wording of the rule states that the employee shall be taxed when the option is excercised, no matter where the employee is situated. A state`s right of taxation of a Stock-option determines wheter and to what extent the employee Stock-otion derives from that state..