The theory of Market Microstructure Invariance proposed by Kyle and Obizhaeva (2010) is presented and tested on spread data for bond futures. The data used are transformations from over 150,000 observations of futures on German government debt securities (Schatz and Bund) and 10-year US treasury notes. To account for the possible presence of long memory processes, we perform a GPH-test that displa

In today’s financial markets, the estimation of implied volatility of options plays an important part. Through the options prices, the implied volatility shows the size of market movement that is anticipated by the market’s participants. It is used as a benchmark for pricing all kind of assets and an erroneous number can be very costly. There are several methods for estimating and establishing pat

Abstract The purpose with this study is to look into whether there is a difference in the reputa-tion/status of the university immigrants and native Swedes choose. The composition of stu-dents at two universities is compared, Malmö University and Lund University. The objective is to investigate whether there are more immigrants, first- and/or second generation, studying at Malmö University compare

En fallstudie av fallföretaget Thule. Vid penetration på ny marknad med existerande produkter, är det viktigt att granska eventuella samarbetspartners i form av återförsäljare. Thule vill in på sporthandelsmarknaden då man uppskattar att man förlorar 2/3 av dess potentiella kunder genom att inte finnas där idag. Vi kommer i vår studie således att undersöka 4 av de sportkedjor vi finner mest lämpli

Författare: Marcus Karlsson, Anis Kheder and Zahir Muqurai Syfte: Syftet med denna uppsats är att förstå hur subkulturer värderar och tar sig an varumärken samt förstå hur dess konsumtion kan förhålla sig till adoptionsprocessen. Frågeställningar: Vilka är de bakomliggande faktorerna till att en subkultur adopterar varumärken? Hur kan adoptionsprocessen förhålla sig i en subkultur som casualkultur

Syfte: Undersöka om det finns något samband mellan överflödiga likvida medel och aktieavkastning på den svenska marknaden. Metod: Vi använder databasen Datastream för att få fram kvantitativ data till 16 variabler fördelat på 2 regressionsmodeller för att bestämma determinanter för kassahållning utifrån ett antal företagsspecifika faktorer. Vi gör tvärsnittsregressioner för varje år för respektive

Adengi, a system for bridging information between consumer and advertiser exists today as a beta-test. This will be taken to the next level to see how to exchange information on a much more efficient and measurable way. The purpose of the project is to analyze if it’s possible to develop a generic web- portal for applications in mobile units such as Android and iPhone, that in an easy and userfrie

The 1997 East Asian Economic Crisis not only significantly affected the macroeconomy, but also opened a new era for the political economy in Thailand. This paper tries to explore this new era from various theoretical points of view. One crucial feature in this new era is the 1997 Constitution. The argument is that under the new political institution, the Thai state was, on the one hand, in a relat

Gravitational light deflection in the Solar System can be detected by high precision astrometric measurements. We discuss the parametrized post-Newtonian framework and the comparison of metric theories of gravity. At the precision of a few micro-arcseconds, Gaia data will permit tests of the PPN parameters beta and gamma and to distinguish monopole and quadrupole gravitational light deflection. Ac

Gravitational light deflection in the Solar System can be detected by high precision astrometric measurements. We discuss the parametrized post-Newtonian framework and the comparison of metric theories of gravity. At the precision of a few micro-arcseconds, Gaia data will permit tests of the PPN parameters beta and gamma and to distinguish monopole and quadrupole gravitational light deflection. Ac

In this work we study nine Hipparcos stars that has been identified as members of the KFR08 stellar stream by Bobylev et al. (2010). We perform high-resolution elemental abundance analysis on these stars using spectra from several sources (ELODIE, HIRES, MIKE and UVES) and the abundance analysis method from Bensby et al. (2003). Furthermore, we perform an angular momentum analysis of the stars usi

Stars form in clusters or groups. In these crowded environments, they are likely to experience encounters with one another. These encounters may perturb their planetary systems and cause the ejection of one or more planets. N-body simulations were performed to study the effect of encounters between stars on their planetary systems in young stellar clusters. Two categories of young clusters were mo

As observations of planetary systems are published from the Kepler mission more constraints can be put on the theory of planetary formation and evolution. This in turn can be used to more accurately tell what really has been observed, such as the frequency and orbital parameters with which a six planet system like the one around Kepler-11 will occur. Even if a system has been observed to have four

The question of whether private profit driven providers deliver health care with a higher productivity and efficiency in comparison to public alternatives has been a subject of debate in both political and scientific contexts The empirical research on comparisons between private and public providers has however mainly been based on experiences from U.S. hospitals. The purpose of this study is to c

Då klimatförändringar studeras är det viktigt att ha markanvändningarna och deras förändringar i åtanke. Markanvändningarna är direkt och indirekt relaterat till klimatförändringar såsom exempelvis stigande temperaturer, vilket påskyndar starten av växtsäsongen. Fjärranalysdata ger en bättre bild av storskaliga förändringar i vegetationen än vad som är möjligt att observera från jordytan. VegetatiWith respect to climate change it is necessary to study land use and land cover (LULC) and their changes. LULC are related directly and indirectly to climatic changes such as rising temperatures that trigger earlier onset of vegetation growing seasons (IPCC 2007). Land surface phenology refers to the seasonal patterns of variation in vegetated land surfaces over large areas using satellite data (R

I juni 2011 antog ILO konventionen om goda villkor för hushållsarbetare. Konventionen fastställer anställningsvillkor och arbetsrättigheter för hushållsarbetare. Hushållsarbete sker, till skillnad från andra former av arbete, i privata hem utan insyn från det offentliga och är ofta ett ensamarbete. Detta innebär att hushållsarbetare riskerar att bli utsatta för missförhållanden och exploatering. KIn June 2011, the Domestic Workers Convention was adopted in the ILO. The Convention establishes minimum conditions of employment and labour rights for domestic workers. In contrast to other types of work, domestic work takes place in private households, in isolation and hidden from public insight. This makes domestic workers vulnerable to abuse and exploitation. The Domestic Workers Convention ob

Japanese employment structure has been transforming in the face of economic recession, difficulty in work/life balance and ageing society. The diversification in the forms of employment such as increasing non-regular employment has enhanced labor market flexibility in Japan while causing security challenges for most people. This paper intends to bring a new perspective to Japanese context by apply

The aim of the study is to investigate the motives behind emerging economies' military spending. More specifically, answering the question: Why do emerging economies increase their military spending? It does so by analyzing the BRIC countries (Brazil, India, Russia, and China).Drawing from earlier study, it firstly develops an analytical framework consists of three hypotheses, then applies the

The purpose is to examine the relationship between the rates of vacant houses with the price of housing in different regions within the United States; the Northeast region, the Midwest region, the South region and the West region. Results are analyzed through economic theory on vacancy and house prices developed by (Wheaton, 1990). The model proposed examines annual GDP, Interest-rates and vacancy