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The Swedish higher educational system is under pressure. The competition from international universities is getting fiercer, and the demographical projections indicate that the number of students entering the university system is peaking right now. At the same time, the financial support from the government is decreasing. In order to stay competitive Swedish universities are trying to find strategies for using the scarce resources in the optimal way. The problem is to strike a balance between quality and efficiency.Over the past ten years a lot of improvement has been made within the Royal Institute of Technology (KTH) regarding quality and innovation in education. Pedagogical courses are mandatory for the staff, and the merits of educational experience have been emphasized in hiring new staff members. Even though problem-based learning, constructive alignment and peer instruction are common in most courses today, some other aspects of education and learning remains the same. One such conservative trait has to do with written examinations. Since the founding of the university in 1827, all written examinations have been done using paper and pen at the Royal Institute of Technology. It is interesting to note that even the school of computer science is using paper and pen for their final written examinations. The problems with using paper and pen are numerous and includes; problems with reading and grading because of poor handwriting, distribution of exams between teachers in the same course, written exams getting lost, etc. In comparison with other parts of the educational system, little has happened to improve quality and efficiency when it comes to written examinations.During 2013 and 2014 a number of teachers initiated a project for increasing the efficiency in written exams. There was a general understanding that the final part of the courses consumed too much time and effort in relations to the other parts. Hence, new software for digital examinations was identif, QC 20160119

QC 20160128

NQC 201601

QC 20120119. QC 20160211

QC 20120119. QC 20160211

QC 20120217. QC 20160211

NV20160119

QC 20160128

QC 20111207

QC 20111208

The purpose of the paper is to review and evaluate efforts to integrate research into teaching in a postgraduate degree program in real estate management at the Royal Institute of Technology in Stockholm, Sweden. The majority of the students in the program come from European countries, but a significant minority is from Asia. The long term goals of the changes were to increase graduation rates as well as the quality of dissertations. In order to validate our findings, the data for this paper emanate from a number of different sources, such as students’ course evaluations, students’ grades as well as interviews with students. The results show that the first cohort of students found it stressful when individual research writing was introduced towards the end of their studies, since they had very little practice and experience in research writing. With a more gradual and earlier introduction in teams, coupled with changes in assessment tasks, the second cohort found individual research writing less stressful and more beneficial. Performance in the second cohort has improved significantly. By creating a more aligned course design, students have spent more time on task, which is the most significant factor in creating a better learning environment., QC 20120117

The purpose of this paper is to analyse the expectations of Small- and Medium-sized Enterprises (SMEs) regarding the value of the advice provided by banks in the light of new regulations in the field. The study started with 60 in-depth interviews with bankers and entrepreneurs in a small municipality in Sweden. After the interviews, a postal survey was sent to 476 SME clients of a bank. The relationship between the bank and the SMEs was divided into two dimensions: the functional quality (with which the SMEs were very satisfied) and a technical quality (which received poor ratings from the SMEs). Overall, the corporate customers were quite satisfied with the bank, owing to low expectations in the first place. The study has relevance for regulatory authorities and banks in examining the customer satisfaction among SMEs. Furthermore, the paper provides a framework for understanding why banks can achieve high customer satisfaction despite the continuous criticism of the advice provided by banks., QC 20201021.QC 20211107

QC 20111209

Purpose: The purpose of the paper is to analyse the financial search behaviour of small and medium-sized enterprises (SMEs) in different regions and the perceived importance of different external financiers for these firms. Design/methodology/approach: A postal survey targeting the chief executive officers (CEOs) of 459 SMEs was distributed indifferent regions of Sweden. Findings: Large differences exist in the financial search behaviour exhibited by firms in the four different types of regions. In the metropolitan areas, firms are more active in searching for new owners, especially professional investors. In smaller municipalities, banks dominate as the most important financier. Research limitations/implications: The study might not be generalised for other settings because it was carried out in Sweden. Furthermore, the regional types used might cause some concern as to whether the findings can be generalised. Practical implications: Thestudy provides evidence that policies need to be tailor-made for different regionsbecause the predominant type of financier differs greatly between regions. The findings also emphasise the need for policymakers to focus on equity gap issues in regionalcentres. Originality/value: The paper fulfils an important role in elaborating on the use and importance of different types of financing in various regions., QC 20111209

Raising the level of investment readiness in small and medium-sized enterprises (SMEs) is seen as one of the most important strategies in public policy for promoting entrepreneurship and SME growth in Europe. This paper analyzes the impact of investment readiness on investor commitment and market accessibility in Swedish SMEs. The empirical base for the paper is a survey answered by 459 SME owners. We have analyzed the data using the lineaz structural relations (LISREL) method, a structural equation modeling technique. The analysis indicates that an increased level of investment readiness in SMEs results in closer working relationships with financiers and a higher level of commitment by the investors, which in turn leads to greater mazket accessibility for SMEs. This study supports public policy focused on programs that alleviate the problems associated with the lack of investment readiness in SMEs., QC 20111207

QC 20120410

The purpose of this paper is to analyse the role of social capital and bridgingnetworks on entrepreneurial activity in three different regions in Sweden. Design/methodology/approach: The empirical base of the paper comprises 120 in-depth interviews with entrepreneurs and other stakeholders in three municipalities in Sweden, statistical data from Statistics Sweden and a large postal survey conducted by theConfederation of Swedish Enterprises. Findings: The bridging networks between localcivil servants and local politicians on the one hand and entrepreneurs on the other are pivotal for the development of an entrepreneurial community. Research limitations/implications: Despite the same rational-legal framework, this paper shows how the cognitive dimension of social capital influences the level of entrepreneurship in three municipalities. The importance of bridging networks is also highlighted. Practical implications: An open channel of communication between politicians and entrepreneurs allows the former to gain legitimacy in the eyes of the latter. By widening the network, more actors are involved in local and regional development, thereby raising the level of competence and resources. Originality/value: Using three different sets of data, this paper offers a deeper understanding into the complex nature of bridging networks between politics and business., QC 20111209

This paper analyzes the risk management strategies used by lenders to finance housing for low-income households in developing countries. Three case studies of housing finance representing three distinct typologies of local financial solutions are used to develop a model for risk management strategies. The provider of housing loans in a developing country must tackle three types of risk: development/production risk, maintenance/management risk, and income risk. Lenders use a risk management strategy that combines monitoring and trust to reduce the problems related to adverse selection and moral hazard. The study provides evidence that in creating a sustainable system for the home financing of low-income households, policymakers need to consider the comparative advantages that different lenders provide in their various roles. Furthermore, this paper fulfills an important role by combining the traditional banking and finance literature with theories concerning trust and social capital and by extending the analysis to encompass the topic of home financing for low-income households., QC 20111209

The purpose of the paper is to analyze how different dimensions of the relationship between banks and small to medium-sized enterprises (SME) influence the SMEs’ loyalty towards the banks. A survey was administered to 1024 CEOs of Swedish SMEs. In the questionnaire, a number of aspects of the relationship with the bank were examined, especially how banks contribute to the development of the SMEs, and how this affects the SMEs’ loyalty. This paper posits The Close Relationship Strategy, which implies that by being more active in the relationship, banks could create more satisfied and loyal SME customers. The study has relevance for banks that are trying to develop their corporate brands through a closer relationship with SMEs. The paper provides a framework for understanding how banks can achieve customer loyalty and develop their brands by focusing on important aspects of the relationship with their SME customers. This study provides important insights into SMEs’ perceptions of their banks’ capacity to deliver meaningful advice, and how a positive relationship can create more loyal customers., QC 20111207

This paper analyzes how different stages of the business cycle influence of level of control aversion displayed by entrepreneurs and how a changing economic climate affects financial search activity among small and medium-sized enterprises (SMEs). By using empirical data from three postal surveys, we analyze the financial search behavior of SMEs in Sweden of a ten-year period, 1991-200. We use a cluster analysis based on the level of control aversion displayed by the entrepreneurs and arrive at a four-cluster solution. The results show that when the economy turns downward, entrepreneurs are forced to become more active in searching for additional sources of finance. When the economy recovers, the control-averse entrepreneurs reduce their efforts in trying to obtain external financing. We also find that SMEs in rural areas have greater difficulties in attracting external financing than do SMEs in metropolitan areas. It might not be possible to generalize this study to other settings because it is based on the Swedish cultural and legal context. Nevertheless, we believe that the situation faced by entrepreneurs in different stages of the business cycle is fundamentally the same, irrespective of context. This study provides evidence that policymakers need to take into account the comparative advantages and roles of various financiers in the financial infrastructure surrounding SMEs. This paper fulfills an important role in analyzing the effect of a changing economic climate on the level of control aversion among entrepreneurs., QC 20111209

QC 20111227

QC 20111227

In this paper we analyse the financial search behaviour of small and medium sized enterprises (SMEs) in Sweden over a ten-year period, 1991-2000. We use a cluster analysis based on the level of control aversion that the entrepreneurs display, and arrive at a four-cluster solution. The results show that when the economy turns down, entrepreneurs are forced to be more active in searching for additional sources of finance. When the economy recovers, the control aversive entrepreneurs reduce their efforts in trying to get external financing. We can also see the SMEs in rural areas have greater difficulties in attracting external financing., QC 20120119

QC 20120417

QC 20120417

Business angels play an important role in the development and growth of many entrepreneurial ventures. They provide not only capital, but also much needed business know-how and connections to customers and other financiers that are pivotal for the success of the firm. The relationship between the business angel and the entrepreneurial team evolves over time, starting with a due diligence process and the formulation of a contract. In this paper we are interested in the post-investment phase of the relationship, and how the business angel abstracts different cues that the relationship is experiencing problems. From interviews with experienced business angels in very different settings and from very different backgrounds, six different cues have emerged as indicators that something is amiss in the relationship. These cues have the following themes; the outright rebellion, the strange report, missing deadlines, history revision, changing information flows and going underground. The majority of the business angels that we have interviewed claimed that these cues have different meanings and that some are more detrimental to the relationship than other. For instance, the outright rebellion and the urge to re-negotiate the contract are looked upon as serious breaches of the trust in the relationship. Strange reports and missing deadlines on the other hand, tend to activate the business angel and trigger some kind of action on his part, but initially with sustained trust.Earlier studies have used either the agent-principal approach or the procedural justice perspective when they have studied the relationship between investor and entrepreneur. Usually papers take one or the other as their point of departure for a study, where the first focuses on control and monitoring and the other on trust building initiatives. However, from our interviews it seems as though they complement each other in the relationship over time. When everything is going as planned the control and monitor, QC 20201021

QC 20120217

QC 20111222

QCR 20120119

QC 20120119

QC 20111227

QC 20111227

QC 20120119

QC 20120119

In this paper we describe and analyse the development of the Swedish venture capital industryand its syndication pattern during the years 1996–2004. These nine years can be divided intothree different stages in the business cycle. The period from 1996-1998 is considered to be aperiod of moderate growth, where the Swedish economy and capital market was stillrecovering from the crisis in the early 1990s. The level of investment and syndication wasrelatively low in comparison with the following years and the primary reason for syndicationwas that of sharing risks. In the overheated Swedish economy between 1999 and 2001 supplyof capital to early stage investments were plentiful and new venture capital firms entered themarket every month. Since capital was plentiful the investors was in constant search for newventures to invest in which made it easy for venture capitalists to find syndication partners fortheir second round financing at a good valuation. After the drastic downturn in the venturecapital industry in 2001 the level of investments was relatively low during 2002–2004. In all,the total number of investment during the period 2002–2004 was lower than during 2001.Furthermore, the investments during this period were to a large extent in the form ofsyndication. During the shake out period, the survivors of the industry were more prone to do first round syndications again. The sharing of monitoring costs and risk sharing were the mostcommon reasons for syndication in this period., QC 20120119

QC 20120119

NQC

QCR 20160608

NR 20160118

NR 20160119