The leverage effect is one of two main hypotheses explaining the negative relationship between volatility of returns and return on equity. It states that a decrease in leverage, due for example to rising stock prices, increases the amount of equity which carries the firm volatility and thus decreases the volatility on rates of return. Using 51 companies that have been actively traded on the Stockh

Bland svenska advokater förs idag en diskussion om effekten av en befintlig trend som innebär att avtalen har blivit längre de senaste åren. Vissa advokater anser att avtalen idag har blivit onödigt långa, vilket är ogynnsamt för svenska företag, medan andra anser att det är bättre med dagens längre avtal och att svenska företag därmed endast gynnas av trenden. Den här uppsatsen syftar till att ut

This study examines if the prediction of cardiovascular disease in hypertensive patients can be improved upon when renal function and microalbuminuria are added to the classical risk factors The predictive capability of a model is measured by discrimination, calibration, reclassification and Harrell's C. The results are ambigious. In most cases, microalbuminuria should be included in the model

Fighting poverty is the overall goal of the Millennium Development Goals (MDG). Africa has highest percent of poor people in the world and in order to achieve the MDGs poverty and development trends must take a new turn in almost all African countries. The overall objective with this study is to analyse and discuss why financial markets work inefficiently in developing countries and hence fail to

Abstract: Syfte: Är att se vad det finansiella systemet betyder för den ekonomiska tillväxten och varför det var skillnad mellan de jämförda länderna, Canada, Japan och Sverige under Golden Age perioden 1950-73. Har studerat BNP-tal, kapitaltillgång, kreditgivning och ekonomisk politik, samt storleken på befolkningen och des's ökning, för att på detta sätt bättre belysa BNP-talet's storlek

I de flesta sammanhang som rör organisationsstrukturer höjs idag projektarbetet och projektorganisationen till skyarna. Fler och fler företag väljer att arbeta i projektform. I de företag där det förekommer projektarbeten utses en ledare till varje projekt som tillsammans med projektmedlemmarna är ett lag som ska arbeta för att projektets mål ska nås, men det är projektledaren som bär det huvudsak

By using the Private Equity Intelligence Ltd database, including more than 3300 private equity funds with IRR data and several fund characteristics, I develop a regression model based on both continuously scaled explanatory variables - vintage year, fund size and market returns - as well as three sets of dummy variables - GP location (US or Non-US), fund type (7 different types) and market conditi

We have two aims with this thesis. The first aim is to describe CFD as a financial instrument in detail by highlighting its potentials and disadvantages. The second aim is to try to find the optimal real margin for each of the underlying stocks. We have adopted an inductive approach, combined with a quantitative method. We have worked with data and tried to come up to conclusions from the results

Background: It has long been argued that decision support systems are used to simplify and support businesses. The creators of the Balanced Scorecard, Kaplan and Norton, have developed their own software application to facilitate and create a support to organizational strategy work. The application is called the Executive Strategy Manager (ESM) and is an online application aimed at helping organiz

Vårt syfte med uppsatsen är att undersöka om det empiriskt går att påvisa lönsamhet i det nya pensionssystemet dvs. premiepensionen. Med andra ord vill vi undersöka lönsamheten med ett aktivt pensionssparande enligt ekonomisk vedertagen teori. Undersökningsdata omfattar samtliga 854 pensionsfonder som funnits från starten 2000-11-02 till 2004-12-30. Vi har utifrån historisk data tagit fram den läg

The chronic problem of music piracy is inevitable with the utilisation of the internet. Music, being classified as information good, makes the consumer to “free-ride” and sub-optimal production of these goods is likely to happen. Copyright is an instrument in helping the continuity of creative activity. The essence of copyright law is also to protect the interests and rights of the writers, produc

This thesis examines the Swedish carbon dioxide abatement policy in the transport sector. The purpose is to investigate whether this is done in a cost-efficient way, in particular in a long-term perspective. An underlying objective is to bring thoughts on environmental concern and economic growth together. In order to do this a number of scientific reports, economic articles, and policy documents

I denna designstudie överges dagens syn på e-postmedierad kommunikation som en linjär process. Bilden som linjära modeller ger av verkligheten är alldeles för generaliserad. Kommunikationsmodeller idag bortser från eller lägger minimal vikt på aspekter som är av betydande roll för hela kommunikationsprocessen. Syftet med denna designstudie är att utforma och evaluera en kommunikationsmodell som sk

Optionshandeln har ökat markant på senare år och detta beror på att investerare vill sprida sina risker. Är optionerna korrekt prissatta eller kan det finnas arbitragemöjligheter? De flesta av investerarna använder sig idag av Black & Scholes formel då de prissätter optioner. I Black & Scholes formel är volatiliteten för aktien okänd och måste uppskattas. I denna uppsats vill jag undersöka

Creativity is the essence of game design. Managing creativity within organizations can be thought of as being contradictory, and increased empirical research is made within this area, trying to understand the problematic with managing creativity along with more traditional management in business contexts. Even though the research area is substantial on this matter, there is still limited amount of

Abstract This thesis examines the impact that AFTA has had on intra-industry trade in different commodity groups and the ASEAN member countries during the years 1993-2002. The frequently used Grubel-Llyod index is employed to estimate the degree of intra-industry trade in this cross-country study, and dynamic effects from integration are evaluated by studies of growth rates in trade and intra-indu

The main purpose of this paper is to examine the offshore regime in Tunisia and to evaluate the direct effects that the introduction of this export promoting strategy has contributed with. Moreover the expected and actual economic effects on trade, employment and foreign direct investments will be evaluated and treated by the concept of the offshore cycle. The offshore regime has in Tunisia contri

English title: Part-time work among women in Sweden – what influences choice of working hours? In the 1960s and 70s a large growth in part-time work amongst women in the Swedish labour market took place. A net inflow of workers into the labour market has been suggested as the main source. However, part-time work is still a common phenomenon among Swedish women; in 2004 almost 40% of all women work

This paper aims to describe the variation and develop a method to control the production for the product Metropol Kaktus from the snuff developer Fiedler & Lundgren. We are going to use the requirements from the product specifications as limits of the expected quality when we present methods to control the process. One method attempts to control during the process and the other attempts to max

Under vår utbildning har vi funnit att resonemangen kring användarmedverkan oftast beskrivs utifrån systemutvecklarens perspektiv och menar att det här finns en rad fördomar och kunskapsluckor kring hur användarna ser på systemutvecklingsprocessen. Vi har därför valt att undersöka hur användarna påverkas av att vara deltagare i ett systemutvecklingsprojekt och vad ett deltagande arbetssätt får för