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1,036 results on '"finansiering"'

1. Alternativ finansiering och organisering av transportinfrastrukturen

Author: Bergström, Fredrik, Bengtsson, Ingemar, Bergström, Fredrik, and Bengtsson, Ingemar
Abstract: Syftet med rapporten är att översiktligt analysera om alternativa organisations- och finansieringsformer, som är möjliga att tillämpa inom ramen för svensk lagstiftning, kan ge större nytta i termer av högre kostnadseffektivitet, snabbare genomförande och mindre eftersatt underhåll än traditionella offentliga upplägg, inom området transportinfrastruktur. Studien avgränsas till den transportinfrastruktur som staten ansvarar för, primärt genom Trafikverket. Med kompletterande alternativ finansiering och organisering avses ofta (brukar)avgiftsbaserade finansieringsmodeller med varierande inslag av privat ägande/kompetens och kapital. Ofta tar i dessa fall ett projektbolag eller en motsvarande organisation ansvar för byggande, finansiering samt drift och underhåll under en relativt lång period. Det går också att tänka sig modeller av detta slag med helt offentligt ansvar I rapporten diskuteras olika typer av genomförandemodeller, ges en övergripande beskrivning av hur alternativa genomförandeformer fungerar i praktiken, samt beskrivs vilka regelverk som är styrande. I rapporten lyfts även internationella erfarenheter av alternativa genomförandeformer fram. Rapporten sammanfattar även tidigare svenska utredningar inom området, samt redogör för några av de projekt i Sverige som har genomförts med alternativ till traditionellt offentligt ansvar. Ett centralt avsnitt pekar på betydelsen av en strukturerad metod för att identifiera lämpliga projekt för alternativ finansiering. En del av rapporten sammanfattar även ett antal intervjuer med marknadsaktörer om hur de ser på alternativ finansiering och organisering av transportinfrastrukturen. I rapportens appendix diskuteras ett antal svenska väg- och järnvägsprojekt där kompletterande alternativ finansiering och organisering skulle kunna tillämpas. I appendix beskrivs även hur alternativ finansiering och organisering av infrastruktur kan beskrivas och analyseras utifrån transaktionskostnadsteori, komparativa institutionell eko
Published: 2024

2. Finansiering av social innovation : En översikt

Author: Lindberg, Malin and Lindberg, Malin
Abstract: I denna rapport ges en översikt av olika sätt att finansiera utvecklingen av sociala innovationer, det vill säga nya metoder, tjänster, verksamheter m.m. vars huvudsyfte är att möta samhällsutmaningar och förbättra människors livsvillkor genom nytänkande sociala praktiker, relationer eller strukturer. Studier visar att sociala innovationer utvecklas inom alla samhällssektorer – civilsamhälle, offentlig sektor, näringsliv och akademi – och ofta i tvärsektoriell samverkan. Dessutom kan ideella, offentliga och kommersiella logiker blandas i sådana initiativ. Det kan därtill vara en snirklig och utdragen process att initiera, etablera och integrera sociala innovationer i organisationer och samhälle. För att matcha denna variation och komplexitet behövs en bredd av olika finansieringsformer i social innovation. Syftet med denna rapport är att ge en övergripande bild av behov och former för finansiering av social innovation, samt de möjligheter och utmaningar som finns i detta. Innehållet i rapporten baseras på tidigare sammanställningar inom området.5 Rapporten riktar sig till samhällsaktörer som själva utvecklar sociala innovationer eller som stöttar sådana initiativ genom finansiering eller annat. Rapporten är framtagen inom ramen för Sveriges nationella kompetenscenter för social innovation i Europeiska Socialfonden (ESF).6 Kompetenscentret ska bidra till utvecklingen av effektiva, varaktiga och värdeskapande sociala innovationer i ESF, genom kunskap, verktyg, coaching och erfarenhetsutbyte till ESF-finansierade projekt, Svenska ESF-rådet och andra berörda samhällsaktörer. Kompetenscentret drivs av Mötesplats Social Innovation vid Malmö universitet på uppdrag av ESF-rådet.
Published: 2024

3. Massuniversitetets utmaningar för kvaliteten på högre utbildning

Author: Brommesson, Douglas, Nordmark, Sofia, Ödalen, Jörgen, Brommesson, Douglas, Nordmark, Sofia, and Ödalen, Jörgen
Abstract: Sedan 1990-talets mitt har antalet studenter i högre utbildning i Sverige ökat kraftigt. Idag läser drygt var tredje person i varje kohort vidare vid högskola eller universitet. Fler studenter innebär en större spridning i studentunderlagets förutsättningar vilket skapar utmaningar för den undervisande personalen. Frågan är om svenska lärosäten har de förutsättningar som krävs för att upprätthålla en god kvalitet på undervisningen? Skiljer sig förutsättningarna mellan lärosäten? Mellan discipliner? Dessa är några av frågorna som tas upp i rapporten ”Massuniversitetets utmaningar för kvaliteten på högre utbildning”.
Published: 2024

4. Predicting the Financially Unsound : A study on the relative importance of financial ratios in corporate bankruptcy prediction

Author: Winberg, Vincent and Winberg, Vincent
Abstract: Companies ending up in financial distress and ultimately filing for bankruptcy is a costly affair not only to the company itself, but also to all of its connected shareholders. Both in an attempt to decrease the risk, and as a way of managing risk for creditors, models aimed at predicting bankruptcies of companies using financial data, for example in the form of ratios, has been an active area of research since the early 20th century. Knowing which financial ratios are the most important in predicting bankruptcy is useful both in the sense that it can be used as an early warning sign, but also as in the sense that it can be used to aid businesses and practitioners to steer a firm away from a possible bankruptcy. This thesis used a machine learning classifier in order to predict corporate bankruptcy. The classifier was trained on panel data containing different financial ratios selected to represent the different financial dimensions of a company, alongside an indicator variable showing whether or not a company filed for bankruptcy. Three separate models were trained using the data in order to predict bankruptcy one, two, and three years prior to the bankruptcy event. Different prediction horizons were applied to see how the relative importance of the ratios and their effect vary with time. Once the classifier was trained, the relatively most important financial ratios could be extracted, alongside the marginal effect that the different ratios have of the probability of bankruptcy. This study found that one year prior to bankruptcy, the interest coverage rate was the relatively most important variable, and that there was a significant decrease in probability of bankruptcy for companies above a certain value. It also found that the further away from the bankruptcy event the model predicts, the harder it is to discern any strong signals for bankruptcy as the relative importance of the financial ratios are fairly equal. Like any quantitative study, the findings and th, Företag som går i konkurs har inverkan både på företaget i sig och på en mängd olika intressenter som är på olika vis kopplade till företaget. Då många av de inblandade oftast drabbas negativt av konkurs finns det ett behov att reducera och kontrollera risken för konkurs för att minimera potentiella kostnader. Forskning inom konkursförutsägelser har varit ett aktivt område inom finansiering sedan tidigt 1900-tal och otaliga modeller har utvecklats genom åren för att med hjälp av olika variabler förutspå huruvida ett företag kommer gå i konkurs eller inte. Att veta vilka finansiella nyckeltal som har störst inverkan på sannolikheten för konkurs och företagsrekonstruktion är användbart då det både kan ge en indikation på när ett företag är nära att hamna i en sådan sits, samtidigt som det även kan användas för att styra ett företag i rätt riktning så fort indikationer för sådant scenario uppdagas. För att undersöka vilka nyckeltal som är viktigast och olika värden på nyckeltalen påverkar sannolikheten för konkurs tränades en maskininlärningsmodell på data innehållande finansiella nyckeltal och om företaget gått i konkurs eller inte. Maskininlärningsmodellen, i det här fallet en binär klassificerare, tränades på data ett, två och tre år före konkurs för att kunna undersöka hur beteendet hos modellen förändras. När modellen väl var tränad kunde vilka nyckeltal som var viktigast för att förutspå konkurs extraheras, samt grafer som illustrerar hur sannolikheten för konkurs varierar för olika värden på nyckeltalen. Denna uppsats fann att ett år före konkurs är ränteteckningsgrad det nyckeltal som är relativt viktigast samt att sannolikheten för konkurs minskade markant för ränteteckningsgrad över ett visst värde. Dessutom visade resultaten att ju längre ifrån konkurstillfället man försöker förutspåkonkurs, desto svårare blir det att urskilja om något nyckeltal är relativt viktigare de andra. Tre år före konkurs var det inget nyckeltal som stod ut lika tydligt som ett år
Published: 2024

5. Machine Learning in Derivatives Trading : Does it Really Work?

Author: Alzghaier, Samhar, Azrak, Oscar, Alzghaier, Samhar, and Azrak, Oscar
Abstract: The rapid advancement of artificial intelligence (AI) has broadened its applications across various sectors, with finance being a prominent area of focus. In financial trading, AI is primarily utilized to detect patterns and facilitate trading decisions. However, challenges such as noisy data, poor model generalization, and overfitting due to high variability in underlying assets continue to hinder its effectiveness. This study introduces a framework that builds on previous research at the intersection of AI and finance, implemented at AP1. It outlines the benefits and limitations of applying AI to trade derivatives rather than single company stocks and serves as a guide for building such trading algorithms. Furthermore, the research identifies an under-explored niche at the intersection of AI and derivative trading. By developing and applying this framework, the study not only addresses this gap but also evaluates the role of AI algorithms in enhancing derivative trading strategies, demonstrating their potential and limitations within this domain., Den snabba utvecklingen av artificiell intelligens (AI) har breddat dess tillämpningar över olika sektorer, med finans som ett framträdande fokusområde. Inom finansiell handel används AI främst för att upptäcka mönster och underlätta handelsbeslut. Men utmaningar som bullriga data, dålig modellgeneralisering och överanpassning på grund av stor variation i underliggande tillgångar fortsätter dock att hindra dess effektivitet. Denna studie introducerar ett ramverk som bygger på tidigare forskning i skärningspunkten mellan AI och finans, implementerad på AP1. Den beskriver fördelarna och begränsningarna med att tillämpa AI för handel med derivat snarare än aktier i enskilda företag och fungerar som en guide för att bygga sådana handelsalgoritmer. Dessutom identifierar forskningen en underutforskad nisch i skärningspunkten mellan AI och derivathandel. Genom att utveckla och tillämpa detta ramverk tar studien inte bara upp denna lucka utan utvärderar också rollen av AI-algoritmer för att förbättra derivathandelsstrategier, och visar deras potential och begränsningar inom denna domän.
Published: 2024

6. Osäkerheter och incitament i fastighetsvärderingar

Author: Grabinski, David, Tryde, Axel, Grabinski, David, and Tryde, Axel
Abstract: En stor del av bankernas utlåning riktar sig till fastighetsbolag. I samband med bankernas utlåning så används fastigheter som säkerhet. Banken använder fastighetsvärderingar som underlag för att bedöma lånevolym och lånevillkor. Det är därför av stor vikt för den finansiella stabiliteten att värderingarna är tillförlitliga. Tillförlitliga värderingar bygger på tillgång till bra data. I dagsläget finns det en brist på denna data, vilket minskar tillförlitligheten i värderingarna. Bristen på data beror på att fastigheter generellt säljs paketerat i bolag vilket gör att köpeskillingen inte offentliggörs. Intressenter är därför beroende av aktörer i transaktioner väljer att annonsera villkoren för transaktionen. Underlaget blir dessutom tunnare på grund av att många transaktioner genomförs med komplexa strukturer som minskar insynen. Samtidigt så finns det incitament för fastighetsbolag och värderare att rapportera högre värden än fastighetens marknadsvärde. Detta då fastighetsägare kan använda sig av högre värderingar för att agera opportunistiskt, och då fastighetsägare är beställare och betalare av värderingen så skapar detta även incitament för värderare. Detta, i kombination med att fastighetsägare idag kan beställa flera värderingar och presentera den högsta för banken, skapar risker för det finansiella systemet. Denna uppsats syftar till att undersöka vilka osäkerheter det finns i värderingsprocessen, vilka incitament det finns för övervärderingar, hur regelverk möjliggör dessa, vilka risker det innebär för det finansiella systemet och förslag för hur man kan öka säkerheten i värderingsprocessen. Studien har genomförts med en kvalitativ metod genom att intervjua representanter från fem värderingsbolag och fyra fastighetsbolag., A large part of bank lending is directed to real estate companies. In connection with bank lending, real estate is used as collateral. Banks use real estate valuations as a basis for assessing loan volumes and the terms of the loan. It is therefore of great importance for financial stability that valuations are reliable. Reliable valuations rely on the availability of good data. At present, there is a lack of such data, which reduces the reliability of valuations. The lack of data is due to the fact that real estate is generally sold packaged in companies, which means that the purchase price is not disclosed. Stakeholders are therefore dependent on actors in transactions choosing to advertise the terms of the transaction. The data is further reduced by the fact that many transactions are carried out with complex structures that reduce the transparency of the transaction. At the same time, there are incentives for real estate companies and appraisers to report higher values than the market value of the property. This is because property owners can use higher valuations to act opportunistically, and because property owners are the clients and payers of the valuation, this also creates incentives for valuers. This, combined with the fact that property owners today can order multiple valuations and present the highest to the bank, creates risks for the financial system. This paper aims to investigate the uncertainties in the valuation process, the incentives for overvaluations, how regulations enable them, and suggestions on how to increase certainty in the valuation process. The study has been conducted using a qualitative method by interviewing representatives from five leading valuation companies and four real estate companies.
Published: 2024

7. Fastighetsvärdering vid miljöcertifiering : En kvalitativ studie från auktoriserade fastighetsvärderares perspektiv

Author: Hylse, Jonathan, Sätmark, David, Hylse, Jonathan, and Sätmark, David
Abstract: Den genomförda studien syftar till att undersöka auktoriserade fastighetsvärderares hänsyn till miljöcertifieringar vid en värderingsprocess. Anledningen till ämnesvalet beror på den alltmer påfrestande hållbarhetskraven som växer i samhället, framförallt på grund av det ökade trycket från banksektorn att få en grön omställning. Men även att många hyresgästers preferenser att bedriva sina verksamheter i gröna lokaler accelererar. Materialet, som ligger som grund för arbetet, består av intervjuer som genomförts tillsammans med sju auktoriserade värderare. Samtliga fastighetsvärderare besitter en hög kunskapsnivå och har varit aktiva inom fastighetsvärdering under en lång period. Det gör att arbetets validitet och svaret på vår frågeställning upplevs väldigt klarläggande. Resultatet av studien indikerar att det finns en stor medvetenhet kring ämnet hållbarhet och en allsidig enighet om att miljöcertifieringar och andra hållbarhetsfaktorer påverkar flera grundläggande parametrar i värderingsprocessen. Utmaningen ligger istället i att kunna kvantifiera och jämföra hur olika miljöcertifieringar och hållbarhetsinitiativ påverkar det direkta marknadsvärdet. Med andra ord saknas det ett enhetligt ramverk som kan underlätta en rättvis implementering av miljöcertifieringar i värderingsprocessen., This study aims to investigate how authorized property valuers consider environmental certifications in the valuation process. The reason for choosing this subject is due to the increasing sustainability demands in society, particularly due to the growing pressure from the banking sector to achieve a green transition. Additionally, many tenants' preferences to conduct their operations in green buildings are accelerating. The material forming the basis of this work consists of interviews conducted with seven authorized valuers. All property valuers possess a high level of expertise and have been active in property valuation for a long period. This contributes to the validity of the work and provides a clear answer to our research question. The results of the study indicate a high awareness of sustainability and a general consensus that certifications and other sustainability factors influence several fundamental parameters in the valuation process. The challenge, however, lies in being able to quantify and compare how different certifications and sustainability initiatives impact the direct market value. In other words, there is a lack of a unified framework that can facilitate a fair implementation of environmental certifications in the valuation process.
Published: 2024

8. Determinanter av kapitalstrukturen hos europeiska banker : En kvantitativ studie om anledningar till kapitalbasensuppbyggnad

Author: Jaako, Sami, Hedlund, Adrian, Jaako, Sami, and Hedlund, Adrian
Abstract: AbstraktAlla tillgångar på en balansräkning finansieras endera med eget kapital, skulder eller en mix.Beslutet hur företag finansiera sig är sällan uppenbart och påverkas, som analyserats i dennastudie, av flera olika faktorer. Mycket av tidigare forskning är inriktad på icke-finansiellaföretag och vilka faktorer som påverkar deras kapitalstruktur. Denna studie fokuserar i ställetpå europeiska banker och syftar till att förstå vilka faktorer som påverkar bankernaskapitalstruktur. De uppkomna resultaten jämförs även med icke-finansiella företag. Studien tarstöd av Modigliani och Millers proposition I och II, men även teorierna Trade off, PeckingOrder och Agentteorin som vidareutvecklats från proposition I och II. Studien tillämpar enkvantitativ metod med paneldata som samlats in för åren 2018–2022. Datamaterialet harhämtats in som sekundärdata från databasen Refinitiv Eikon. I urvalet ingår 81 börsnoteradeeuropeiska banker som har totala tillgångar som överstiger 30 miljarder euro. För att genomföraden statistiska analysen har en OLS-regression genomförts. För att förklara bankernas kapitalstruktur används faktorerna storlek, lönsamhet, risk ochlikviditet. Resultaten visar att storlek och lönsamhet kan förklarar kapitalstrukturen hoseuropeiska banker. Resultaten för storlek och lönsamhet är i linje med tidigare forskning somockså funnit att större banker har en större andel skulder och att högre lönsamhet är associeratmed lägre andel skulder. Denna studie särskiljer sig från tidigare forskning eftersom den intefinner signifikanta samband mellan risk, likviditet och kapitalstruktur. Det ska beaktas att dematematiska beräkningarna för de två sistnämnda determinanterna har annan utformningjämfört med andra studier. Studien valde också att dela upp Europa i två regioner, nord ochsyd. Där upptäcktes att modellen förklarar kapitalstrukturen för nordeuropeiska banker på ettmer tillförlitligt sätt än för sydeuropeiska. Våra fynd ger en viss bekräftelse på giltigheten avbåde
Published: 2024

9. Från Sverige till utlandet : det sociala kapitalets kraft för det kvinnliga entreprenörskapet

Author: Bodin, Josefine, Valberg, Emilia, Bodin, Josefine, and Valberg, Emilia
Abstract: Denna uppsats undersöker kvinnligt entreprenörskap i Sverige och hur socialt kapital påverkar möjligheter till affärsutveckling på internationella marknader. Uppsatsen fokuserar på hur relationer påverkar företags möjligheter att säkra finansiering och hur detta i sin tur främjar tillväxt på den globala arenan som ett naturligt steg i affärsutveckling. Uppsatsen baserar sig på tre dimensioner av socialt kapital tillsammans med ett finansieringsperspektiv. Dessa utgör uppsatsens analytiska verktyg. Det tillvägagångssätt uppsatsen tillämpar är ett kvalitativt selektivt urval av teoretiska och genomförda empiriska studier, inklusive enkäter och intervjuer, för att ge en djupgående förståelse av ämnet. Resultatet av uppsatsen pekar på att relationer sinsemellan kvinnliga entreprenörer inte utgör det svåraste hindret för kvinnliga entreprenörer att överkomma. Istället visar det sig vara de interpersonella relationerna mellan affärsmän och affärskvinnor som utgör det största hindret.
Published: 2024

10. Idrottens finansiering och crowdfunding : En kvalitativ studie hur idrottsorganisationerna finansieras och hur upplever samt anpassar sig idrottsorganisationerna till crowdfunding?

Author: Nousiainen, Nicklas, Palmgren, Clayton, Nousiainen, Nicklas, and Palmgren, Clayton
Abstract: Background - Swedish sports organizations often struggle to gain financial income, due to reasons such as the 51% rule within Swedish sport, not obtaining enough financial income internally through the organization and the loss of earnings from the Covid-19 pandemic and other economic fluctuations. Therefore this study was conducted to analyze and describe how Swedish sport organizations seek financial help externally to be able to finance their organizations. Where the organizations network status was examined to see the potential external help they could benefit from and how the usage of crowdfunding could be an alternative for the organizations to gather financial help. Purpose - The purpose of this study is to analyze and describe how sports organizations finance themselves. Method - The way in which the study was performed, was through a qualitative method with an abductive approach. Through six semi structured interviews with representatives from the Swedish sports organizations the empirical data was collected. Then analyzed in relation to theories and previous research by a thematic analysis. Findings - The findings of this study suggest that Swedish sports organizations tend to prioritize their internally generated financial amounts of capital to finance their organizations through traditional financial methods such as: membership fees, sponsorship income, ticket sales, public support and in addition some organizations earned capital through player sales. Rather than reaching out to external financial investors, where crowdfunding was seen as a potential financial method to gather financial support. The Swedish sports organizations considered it to be important to engage and maintain their networks for this type of financial gathering method to be functionable.
Published: 2024

11. Universitetens villkor : 36 debattinlägg under åren 1988-2023

Author: Engwall, Lars and Engwall, Lars
Abstract: I den här boken har han samlat 36 artiklar som har publicerats under åren 1988−2023. I sex kapitel diskuteras hur staten styr universiteten, dessas interna styrning och finansiering men också utbildningen av nya forskare och deras karriärvägar samt kulturvetenskapernas särskilda villkor. Avslutningsvis presenteras ett antal slutsatser om önskvärda framtida åtgärder.
Published: 2024

12. Bankernas förhållningssätt till förstagångsköpare : Hur bankerna ser på lån till förstagångsköpare inom bostadsmarknaden

Author: Dizayee, Shady, Andrén, Rickard, Dizayee, Shady, and Andrén, Rickard
Abstract: This study aims to examine banks’ approaches in regards to granting mortgage loans to first-time buyers. Furthermore, first-time buyers’ perceptions and experiences throughout the process of getting approved for a mortgage will be studied. The study approaches the issue that refers to a theoretical framework of behavioral economics and discrimination theories. This study is conducted through a total of nine semi structured interviews. It is conducted with a qualitative method and a deductive approach. Furthermore, the study includes five first-time buyers' experiences and four banks’ guidelines when it comes to the process of approving loans to first-time buyers in south-west Sweden. To answer the aim of the study, banks’ requirements and criterias, and first-time buyers perception has been studied. It has been made clear from previous studies that young people are being denied mortgage loans in more than half of the larger cities in Sweden. To study this conclusion, the approach of mortgage loans to first-time buyers has been researched. The results of the study showed that the banks’ approach and requirements differ from what first-time buyers perceive and the reality of how the banks work. It has also been made clear that the respondents feel unfairly treated due to the majority of them being denied and not receiving an explanation. During the execution of this study, it was explained by a mortgage loan officer that there is a confidentiality agreement within the bank sector. All answers have therefore not been fairly answered. Furthermore, the results showed that the fact that first-time buyers are being denied mortgages is evident. This study is of use for both younger people and banks, as well as anyone who is entering the housing market for the first-time.
Published: 2023

13. Erik Lindberg, Välfärdens vägar: Organiseringen av vägunderhållet i Sverige 1850–1944 (Lund: Nordic Academic Press 2022). 164 s.

Author: Hasselgren, Björn and Hasselgren, Björn
Abstract: Erik Lindbergs bok recenseras. Lindbergs framställning av utvecklingen av vägunderhållets organisering och finansiering diskuteras och analyseras kortfattat.
Published: 2023

14. Kiselalger i Södermanlands län 2023 : En undersökning av 14 vattendragslokaler

Author: Sundberg, Iréne, Meissner, Ylva, Sundberg, Iréne, and Meissner, Ylva
Abstract: I Södermanlands län undersöktes vattenkvaliteten med hjälp av kiselalger på 14 vattendragslokaler år 2023. För statusklassning med avseende på påverkan av näringsämnen och lättnedbrytbar organisk förorening användes kiselalgsindexet IPS. Stödparametrarna TDI (påverkan av näring) och %PT (påverkan av organisk förorening) har beaktats vid bedömningen tillsammans med eventuell riskflaggning. För surhetsklassning användes ACID-index. Riskflaggning för att andra typer av påverkan, än de som IPS och ACID är utvecklade för att visa, gjordes med stödparametrarna missbildningsfrekvens, antal räknade taxa och diversitet. IPS-indexet visade god status i D1:2 Kilaån, D8 Torshällaån-Eskilstunaån, D16 Trosaån mellan Klämmingen och Frösjön, D25 Örboholmsån och D29 Laketorpsån. För samtliga, utom Kilaån, hamnade dock indexvärdet mer eller mindre nära gränsen mot måttlig status. Kilaån verkar i stället vara påverkad av surhet. Klassningen kan vara osäker i Torshällaån-Eskilstunaån eftersom lokalen riskflaggades för mycket låg diversitet och i Örboholmsån som riksflaggades för stark miljögiftspåverkan. Måttlig status konstaterades D0 Nyköpingsån, D15 Sigtunaån, D17 Trosaån, D18 Mölnboån, D28 Slytån och D30 Gammelstabäcken. IPS-indexet låg dock mycket nära respektive nära gränsen mot god status i Sigtunaån och Slytån. Slytån riskflaggades vidare för betydande miljögiftspåverkan, liksom Nyköpingsån. I Trosaån utfärdades en riskflaggning på grund av mycket låg diversitet. IPS-indexet motsvarade otillfredsställande status i D2 Svärtaån, D26 Norrtunabäcken och D27 Enarenån. Klassningarna styrks av att stödparametern %PT visade mycket stark påverkan av organisk förorening. Indexvärdet var lägst i Svärtaån och det hamnade nära gränsen mot dålig status. Surhetsindexet ACID visade alkaliska (årsmedel-värde för pH över 7,3) eller nära neutrala (årsmedelvärde för pH 6,5-7,3) förhållanden på alla lokaler, utom D1:2 Kilaån där indexvärdet motsvarade måttligt sura förhållanden (årsmedelvärde för p
Published: 2023

15. Den svenska aktiemarknadens reaktion på det nya EU-direktivet (2022/2464) om företags hållbarhetsrapportering

Author: Jonassen, Lovisa, Forkman, Markus, Jonassen, Lovisa, and Forkman, Markus
Abstract: I syfte att säkerställa att investerare har tillräcklig tillgång till information för att kunna bedöma investeringsrisker och -möjligheter relaterade till hållbarhetsfrågor har EU antagit ett nytt direktiv, Corporate Sustainability Reporting Directive (2022/2464) (CSRD). Direktivet introducerar skärpta krav på företags hållbarhetsrapportering och antogs i sin slutliga form den 28 november 2022 genom att Europeiska rådet gav sitt godkännande. Tidigare forskning tyder på att införandet av obligatorisk hållbarhetsrapportering kan resultera i avvikelseavkastningar på aktiemarknaden och att företags ESG-poäng kan förklara hur avvikelseavkastningen blir. Det är intressant att veta hur marknaden reagerar på beslutet att inför CSRD eftersom marknadsreaktionen säger oss något om den upplevda effektiviteten av reglerna. Med hjälp av en eventstudie undersöks den svenska aktiemarknadens reaktion på beslutet att anta CSRD den 28 november 2022. Eventstudien kompletteras av en regressionsanalys i syfte att undersöka om företagens ESG-poäng förklarar variation i avvikelsevkastning. Vi observerar en positiv avvikelseavkastning för hela urvalet som dock inte är signifikant, vilket gör att vi inte kan dra några slutsatser om aktiemarknadens reaktion. Däremot finner vi en signifikant skillnad på 10 % signifikansnivå i avvikelseavkastning mellan företag med höga ESG-poäng jämfört med företag med låga ESG-poäng. I brist på signifikanta resultat i den efterföljande regressionsanalysen kan emellertid ingen slutsats statistiskt säkerställas angående ett samband mellan ESG-poäng och avvikelseavkastning heller.
Published: 2023

16. Indexeffektens inverkan på reviderade aktier i OMXS30

Author: Broman, Albin, Nilson, Albin, Broman, Albin, and Nilson, Albin
Abstract: Denna studie undersöker indexeffektens påverkan på reviderade aktier i OMXS30 under åren 1995–2023. Shleifer (1986) är en av pionjärerna att finna stöd för denna anomali. Shleifer fann stöd för indexeffektens existens på S&P 500. Detta resultat går emot vad effektiva marknadshypotesen av Fama (1970) som menar på att detta inte ska vara möjligt på en effektiv marknad. Problematiken med denna teori är antaganden om hur samtliga intressenter på en marknad besitter samma kunskap, vilket studiens resultat likt Shleifer (1986) visar på inte stämmer i praktiken. Stockholmsbörsen är inte en effektiv marknad och vilket gör det möjligt för denna typ av anomali att existera. Shlefiers studie visar hur det är indexfonderna som handlar upp stora delar av utbudet av aktier tillgängliga på marknaden, vilket leder till ett minskat utbud. Det nya utbudet kan inte bemöta efterfrågan, vilket resulterar i att priset stiger. Denna studie visar på en positiv avvikelseavkastning för aktier som inkluderas i OMXS30, där den stora förändringen sker mellan dag -3 och -1 från eventdagen, det vill säga från att revideringen sker. Studiens resultat visar att mellan dag -3 och -1 har aktier som inkluderats en positiv kumulativ avvikelseavkastning på 3,118%. Detta i enighet med tidigare studier som på andra index funnit liknande resultat. Som förklaring till denna avvikelseavkastning har studien även funnit stöd för att det sker en förändring i antalet investerande inhemska institutioner. Likt Shleifers (1986) resultat visar även denna studie att indexfonders ökade intresse vid inkluderingar är en bidragande faktor till prisförändringen som uppstår, detta trots att ingen ny information om framtida avkastning tillkommit marknaden. Det som skiljer denna studies resultat från föregående studier är att denna även finner stöd för en negativ avvikelseavkastning för exkluderade aktier ur indexet under hela eventfönstret. De exkluderade aktie, This study examines the impact of the index effect on revised stocks in OMXS30 during the period 1995 to 2023. This study demonstrates a positive abnormal return for stocks included in OMXS30, with the greatest change occurring between day -3 and -1 from the event day, which corresponds to the inclusion. The results show that during this period, included stocks have a positive cumulative abnormal return of 3.118%. This is consistent with previous studies on other indices. The study also finds support for a change in the number of domestic institutional investors as an explanation for this abnormal return. Similar to Shleifer's (1986) findings, this study shows that the increased interest from index funds in the event of an inclusion contributes to the observed price change, despite no new information about future returns being introduced to the market. What sets this study apart from previous ones is that it also finds evidence for a negative abnormal return for excluded stocks throughout the event window. Excluded stocks have a significantly negative abnormal return between day -3 and -1, which is -2.125%. However, no significant change in the number of investing institutions is observed when it comes to excluded stocks.
Published: 2023

17. Företagsförvärv och aktielikviditet : En eventstudie av huruvidaföretagsförvärv påverkar aktielikviditeten

Author: Magnusson, Emelie, Lucas, Nilsson, Magnusson, Emelie, and Lucas, Nilsson
Abstract: This paper aims to examine if M&A affects the buying company’s stock liquidity days around the announcement. The study’s population consists of M&A transactions made on the Swedish markets OMXSPI and NASDAQ First North between 2010 and 2021. Furthermore, variables included in the regressions are the buying company’s market-to-book value, market cap, rank value, financing method and horizontal/vertical integration – where the illiquidity measures are quoted spread and relative effective spread. The findings suggests that there is a significant negative relation between horizontal M&A and the change in quoted spread and relative effective spread the day after the announcement. Additionally, there is a significant negative relation between cash- and stock financed M&A and the change in relative effective spread the days after the announcement. Nevertheless, the findings suggests that there is no significant effect of the buying company’s market-to-book, market cap or rank value on the change of stock liquidity the days around the M&A announcement. The results also indicates that there is no significance in the change of stock liquidity’s mean values the days before and after the M&A announcement. Hence, the economical interpretation is that M&A announcement does not significantly affect the stock liquidity in our population.
Published: 2023

18. Marknadsreaktioner på VD-byten : En studie om svenska marknadens reaktioner på VD-byten

Author: Rehn, Mats, Tuazon, Adrick, Rehn, Mats, and Tuazon, Adrick
Abstract: This thesis investigates Swedish market reactions to CEO turnover and further studies how the size of these market reactions can be explained by company specific and CEO specific factors. Through t-tests and multivariate analysis this study analyses 136 CEO turnover announcements from the years 2017-2022 to find proof of a market reaction and to find potential explanations to the size of these market reactions. The results of this study show that the Swedish market on average reacts positively to CEO turnover announcements regarding the studied firms abnormal return and cumulative abnormal return, which shows that CEO turnover announcements contain useful information for investors. Our study finds indications of differences market reactions size of CEO turnover announcements between small and big firms and differences in market reaction regarding the experience level of the appointed CEO. Our study also found that a company's ROA, M/B, and their appointed CEO's experience level influence the size of these market reactions. As the market reactions due to CEO turnover often occurred the days before the CEO turnover announcement, this study's also found indications of potential insider information leakage within Swedish firms.
Published: 2023

19. Fredagseffekten : En händelsestudie om fredagseffekten i samband med offentliggörandet av kvartalsrapporter

Author: Björkenmark Yousfi, Gabriel, Ståhl, Samuel, Björkenmark Yousfi, Gabriel, and Ståhl, Samuel
Abstract: The paper investigates an anomaly in the capital market commonly referred to as the Weekday Effect. The Weekday Effect means that the average daily stock returns differ between the different days of the week. Previous studies have examined the Weekday Effect in the US capital market in conjunction with the day of quarterly reports' release. Fridays have been documented where the release of quarterly reports has resulted in negative abnormal returns; this is referred to as the Friday Effect. Furthermore, previous literature has documented that quarterly reports released on Fridays contain "bad" news compared to releases on the remaining weekdays. This paper aims to investigate the relationship between the publication of quarterly reports on Fridays and a possible abnormal return in the Swedish capital market. Furthermore, the paper investigates whether quarterly reports published on Fridays tend to present earnings below market expectations. As documented, the study does not find a Friday Effect in conjunction with the publication of quarterly reports in the Swedish capital market, however, it is documented that the publication of quarterly reports on Tuesdays is negatively associated with a deviation return. Furthermore, the study does not document that the publication of quarterly reports on Fridays tends to contain "bad" news, however, it does document that the publication of quarterly reports on Thursdays tends to contain "bad" news. The study's results are not in line with previous documentation on the US capital market, however, it does document a difference in the day-of-the-week effect between the US and Swedish capital markets.
Published: 2023

20. Konsten att förmedla finansiell kompetens genom förtroendeskapande kommunikation : En kvalitativ studie om att erhålla extern finansiering

Author: Ehrensvärd, Carolina, Nilsson, Josefin, Ehrensvärd, Carolina, and Nilsson, Josefin
Abstract: Each year, millions of small businesses are established, and individuals that engage in entrepreneurial activities continue to increase significantly. In order for small businesses to be able to grow, external financing is required. Previous research has primarily focused on how financial literacy impacts performance and enables access to finance. This study intends to develop Maxwell and Lévesque's (2014) reasoning about trustworthiness. This paper aims to investigate how entrepreneurs generate trust through their financial literacy in regard to capital contribution. The findings intend to develop a framework for how businesses can nurture trustful communication with the financier and increase their opportunity for financing. Subsequently, this paper has, in detail, explored how entrepreneurs in small businesses, in Sweden, have communicated their financial literacy in connection with capital contribution. The qualitative methodological reasoning has, in extension of being interpretative, emanated from an inductive nature, to foster the respondent’s experience. The empirical data includes interviews with respondents consisting of 13 entrepreneurs from 11 small Swedish businesses. To fulfill the purpose of this paper, previous research in the field has been collected to, among other, conform the study's self-constructed analysis model which was united with qualitative thematic content analysis to enable a framework for trustful communication. The result of this paper shows that in the process of conveying entrepreneurs' financial literacy, two main themes, based on time, was identified. Before the meeting and during the meeting with the financier. The majority of the entrepreneurs experience difficulties obtaining the necessary capital, and the relationship with the financier is critical for the company's growth. Before the meeting, the preparatory activities, such as the composition of the team and pitch deck, are of great importance to increase legitimacy and, Titel: Konsten att förmedla finansiell kompetens genom förtroendeskapande kommunikation – En kvalitativ studie om att erhålla extern finansiering Problemformulering: Hur förmedlar entreprenörer sin finansiella kompetens i samband med kapitaltillskott genom förtroendeskapande kommunikation? Syfte: Syftet med studien är att utveckla kunskap och förståelse för hur entreprenörer i svenska småföretag förmedlar sin finansiella kompetens genom förtroendeskapande kommunikation i samband med kapitaltillskott. Till följd av en ökad förståelse för förmedlingen av entreprenörers finansiella kompetens ämnar studien att utveckla ett ramverk för hur företag kan skapa en förtroendefull kommunikation tillsammans med finansiären för att öka finansieringsmöjligheterna. Metod: Studiens forskningsansats utgår från en kvalitativ forskningsmetod och har huvudsakligen varit i linje med en induktiv karaktär. För att besvara studiens forskningsfråga och uppfylla studiens syfte har tidigare forskning på området studerats och presenteras under den teoretiska referensramen. Den empiriska data omfattades av semistrukturerade intervjuer med 13 entreprenörer från 11 svenska småföretag. Den analysmetod som används i studien utgår från uppsatsens analysmodell tillsammans med en kvalitativ tematiserad innehållsanalys. Slutsats: Studiens resultat visar att processen av förmedling av entreprenörers finansiella kompetens kan delas in i två övergripande kategorier med hjälp av ett tidsperspektiv: inför mötet och under mötet med finansiären. Inför mötet blir de förberedande aktiviteterna, såsom sammansättning av team och pitch deck med mera av stor vikt för att kunna öka legitimiteten och trovärdigheten under mötet med finansiären samt att bidra till att företaget blir investeringsredo. Under mötet kan entreprenören fokusera på att presentera en tydlig story innehållande finansiell information, företagsresa och teamet. Studien visar också på betydelsen av att ha en finansiärs inriktning, innebärande en
Published: 2023

21. Fastighetsvärdering i en tunn marknad – En problematik för värderare och banker

Author: Mattsson, Jesper, Sonesson, Jakob, Mattsson, Jesper, and Sonesson, Jakob
Abstract: Transaktionsvolymerna för fastigheter i Sverige minskade med 42% under 2022, vilket har skapat en brist på referensobjekt för fastighetsvärderingar. Räntehöjningar och ökad inflation har skapat osäkerhet på marknaden och kan leda till stora konsekvenser för långivare och fastighetsföretag, samt den finansiella stabiliteten. Syftet med examensarbetet är att behandla problematiken vid fastighetsvärderingar i en tunn marknad och dess påverkan på fastighetsmarknaden samt bankernas långivning. Vidare syftar arbetet att undersöka om problematiken kan förbättras genom någon reglering. Både kvalitativa och kvantitativa metoder användes i arbetet där intervjuer med externa fastighetsvärderare och banktjänstemän inom fastighetssektorn låg till grund för den kvalitativa metoden. En analys av börsnoterade fastighetsbolags underliggande fastighetsvärden, substansvärden och börskurser låg till grund för den kvantitativa metoden. Under åren 2020 och 2021 ökade de underliggande fastighetsvärdena för samtliga studerade fastighetsbolag, vilket ledde till en ökad substanspremie. Under år 2022 sjönk börskurserna däremot kraftigt och nästan alla bolag handlades till en substansrabatt, trots att fastighetsvärdena för de flesta bolag inte sjönk. Detta indikerar att fastighetsvärdena bör ha skrivits ned mer och signalerar en förväntad nedgång i fastighetsvärden inom den närmaste tiden. Vid en tunn marknad krävs en mer noggrann analys av de få transaktioner som genomförs, där en bredare geografisk överblick och en bevakning av andra segment används. Makroekonomiska händelser kan ge indikation på fastighetsmarknadens framtid, men värderingar bör inte baseras enbart på dem. Mer etablerade värderingsfirmor har ofta ett informationsövertag och ett brett kontaktnät är viktigt för att få korrekt information. Bankerna utför alltid en egen värdering och förlitar sig inte endast på de värderingar de får in. Bankernas värderingar omfattas av ett hårdare regelverk och en kritisk granskning av en fasti, The transaction volumes for properties in Sweden decreased by 42% in 2022, which has created a shortage of reference objects for property valuations. Increased interest rate and inflation have created uncertainty in the market and can lead to significant consequences for lenders and real estate companies, as well as financial stability. The purpose of this thesis is to address the issues with property valuations in a thin market and its impact on the real estate market and bank lending. Furthermore, the thesis aims to investigate whether the problem can be improved through any regulation. Both qualitative and quantitative methods were used in the study, with interviews with external property valuers and bank employees in the real estate sector forming the basis for the qualitative method. An analysis of listed real estate companies' underlying property values, net asset values, and stock prices formed the basis for the quantitative method. During the years 2020 and 2021, the underlying property values for all studied real estate companies increased, leading to an increased net asset premium. However, in 2022, stock prices fell sharply, and almost all companies traded at a net asset discount, even though property values for most companies did not decline. This indicates that property values should have been written down more, implicating an expected decline in property values soon. In a thin market, a more careful analysis of the few transactions that take place is required, with usage of a broader geographical overview and monitoring of other segments. Macroeconomic events can provide indications of the real estate market's future, but valuations should not be based solely on them. More established valuation firms often have an information advantage, and a broad network of contacts is important for obtaining accurate information. Banks always perform their own valuation and do not completely rely on the valuations they receive. Bank valuations are subject to stricte
Published: 2023

22. Løkke og Frederiksens gamle opskrifter på succes virker ikke længere

Author: Vedby Rasmussen, Mikkel and Vedby Rasmussen, Mikkel
Abstract: Stormen om afskaffelsen af store bededag er voldsom, fordi regeringen på den ene side fører krisepolitik og taler om en ekstraordinær situation, mens den på den anden side benytter sig af konkurrencestatens teknokratiske kassemesterlogik
Published: 2023

23. Vetenskapliga tidskrifter – ett lömskt problem för humaniora

Author: Hammar, Isak
Subjects: open access, Vetenskapliga tidskrifter, Humanities, finansiering, funding, publishing, Other Humanities, academic journals, publicering, Information Studies, humaniora
Abstract: The question of how to fund Swedish academic journals such as Scandia has become a wicked problem, not only for history but also for the humanities as a whole. This issue is confounded by the difficulty in terms of categorizing these journals and their funding needs and further complicated by the global movement towards open access. For the humanities, the issue of how to fund these journals is of great concern mainly due to a more pluralistic approach to publishing, where not only high-impact journals but also monographs, edited volumes and essays aimed at multiple audiences are still considered prestigious and relevant for society as a whole. At the same time, these journals are not necessarily perceived as relevant by the rest of the scientific community. The main reason is that, even though traces of more traditional forms of publishing can still be found in both the social and the natural sciences, a uniform publishing ideal is dominant in most disciplines and most prestigious outlets are owned by international publishing houses. Complicating matters further, publishing practices in the humanities are not only changing rapidly but vary between and within disciplines, generations and even universities.Despite the fact that this problem has been recognized both internationally and in Sweden, a solution has remained elusive, causing frustration among researchers and editors. This essay argues that the first step is to view the question of funding as embedded in both local and global processes and that in order to find a sustainable model, several stakeholders need to take responsibility and collaborate at the national level. An important argument for sharing responsibility between and across departments, disciplines, funders and, lastly, the government is that Swedish journals are not only part of the ecosystem of prestige within academia but also serve as an infrastructure for authoritative knowledge aimed at the public sphere.
Published: 2022

24. Miljöcertifierings påverkan på försäljningspriset av kontorsbyggnader

Author: Dahlberg, Ebba, Frank, Lovisa, Dahlberg, Ebba, and Frank, Lovisa
Abstract: The purpose of this case study is to investigate whether, and for what reason, green building certification of office properties affects, or does not affect, the sales price in an open bidding. The study's questions are; 1. How big is the possible difference in sales price for a property with a green building certification, compared to a non-certified but otherwise similar building? 2. What motives do real estate companies have to invest in properties with green building certification today? The questions are answered through a case study with a mixed method approach. The study aims to examine the office segment, the environmental certification systems Miljöbyggnad, BREEAM and LEED, and the markets in the three largest Swedish cities' most central parts. The three previously mentioned systems subsystems for existing buildings are also included in the study. The case study begins with a literature review which summarizes existing research on a number of value enhancing attributes that can be assigned to a commercial property as well as green building certifications possible effect on these parameters. Real estate transactions within the office segment between 2010 and 2022 form the foundation of the quantitative part. The transactions were filtered using pre-defined characteristics,partly to ensure that the information included is of appropriate quality, but also to create a more homogeneous selection. The results of the quantitative part showed that in four of five sub-areas, office properties that held green building certifications had a higher sales price (SEK/sq.m.) in comparison with non-certified offices in the same areas. In the qualitative part of the study, thirteen semi-structured interviews were held, out of these thirteen, ten were with representatives from property-owning companies, and three were transaction advisers. Out of the ten representatives from property owners, eight representatives held roles such as transaction managers, business dev, Hur påverkar miljöcertifiering försäljningspriset av kontorsbyggnader? Av: Ebba Dahlberg och Lovisa Frank Miljöcertifiering är ett väletablerat sätt att arbeta med hållbarhetsfrågor i den byggda miljön och kan ses som ett mått på hur miljömässigt hållbar en byggnad är. Men vilka motiv har fastighetsägarna att investera i miljöcertifiering, och har kontorsbyggnader med miljöcertifiering ett högre försäljningspris? Bygg-och fastighetssektorn står idag för en betydande del av sveriges totala miljöpåverkan och miljöcertifiering är ett sätt att få kontroll över en byggnads miljöpåverkan. De senaste åren har miljöcertifiering blivit allt vanligare och i Sverige börjar miljöcertifiering i nyproduktion snarare bli mer regel än undantag. Examensarbetet “Miljöcertifierings påverkan på försäljningspriset av kontorsbyggnader” är en svensk fallstudie genomförd med både kvantitativa och kvalitativa angreppssätt. Genom intervjuer med investerare på fastighetsbolag ger studien en bild av de vanligast förekommande investeringsmotiven samt fastighetsbolagens syn på miljöcertifiering. Dessutom ger studien, genom en kvantitativ prisjämförelse, en bild av miljöcertiferingens eventuella prispåverkan. Examensarbetets prisjämförelse pekar på att miljöcertifierade kontorsbyggnader har ett högre försäljningspris i de mest centrala delarna av Stockholm, Göteborg och Malmö och resultatet kan ses som en början till en heltäckande analys kring hur miljöcertifiering påverkar försäljningspriset på kontorsbyggnader i Sverige. Bland de intervjuade investerarna på fastighetsbolag menade en majoritet att miljöcertifiering ger en positiv påverkan på försäljningspriset. De bakomliggande orsakerna till denna uppfattning är flera, där några framhåller att det troligen finns fler intressenter för miljöcertifierade kontor, vilket bör leda till ett högre pris i en öppen budgivning. Däremot finns även de som inte tror att det går att påvisa att miljöcertifierade byggnader har ett högre försäljningspris på gru
Published: 2022

25. Ingen övergödning : Fördjupad utvärdering av miljökvalitetsmålen 2023

Abstract: Sveriges 16 miljökvalitetsmål har beslutats av riksdagen, och beskriver det tillstånd i miljön som det svenska miljöarbetet ska leda till. Vart fjärde år görs en fördjupad utvärdering där möjligheterna att nå miljökvalitetsmålen bedöms. Havs- och vattenmyndigheten ansvarar för uppföljning av tre miljökvalitetsmål: Ingen övergödning, Levande sjöar och vattendrag och Hav i balans samt levande kust och skärgård. Utvärderingen visar att det görs mycket positivt åtgärdsarbete som ökar möjligheterna att nå miljökvalitetsmålen på sikt. Det tar tid innan genomförda åtgärder leder till ett förbättrat miljötillstånd, eftersom återhämtningstiden i miljön är lång. Många omvärldsfaktorer påverkar möjligheterna att nå målen. Klimatförändringarna är en faktor som kommer göra det svårare att nå målen. Det senaste året har även det geopolitiska läget runt Östersjön, med Rysslands invasion av Ukraina, visat sig påverka miljöarbetet negativt genom att bland annat försvåra internationella samarbeten. För att nå miljökvalitetsmålen behövs fler fysiska åtgärder och ökad genomförandetakt. Samverkan mellan olika aktörer och internationella samarbeten är en förutsättning för att målen ska kunna nås.
Published: 2022

26. Den emotionellt hållbara filmprocessen : en dokumentärfilm blir till

Author: Löfgren, Emilie and Löfgren, Emilie
Abstract: Hur skapar och utvecklar jag metoder för en filmprocess som värnar mitt eget och mina medarbetares mentala och känslomässiga välbefinnande när vi gör film om svåra frågor? Hur tar jag hand om mina medverkande? Hur ser min film ut som är sprungen ur en sådan arbetsprocess? Hur har arbetet med terapeuten Cilla Holm, tidigare filmproducent, bidragit till en hållbar filmprocess? Filmbranschen präglas av högt tempo och utmattningssyndrom är inte ovanligt. För fyra år sedan blev jag utmattad och efter att ha sörjt mitt gamla jag och min nya stresskänslighet kom jag fram till att jag inte tänker acceptera att jag inte ska kunna arbeta med det jag älskar, film och skrivande. Jag tänkte att det måste finnas andra sätt att arbeta med film och fortfarande få må bra. En text om skapandet av min dokumentärfilm Om sorg (2022) och metoden som jag kallar för Den emotionellt hållbara filmprocessen., How do I create healthy working methods that benefit my own and my team members mental and emotional wellbeing while making film about difficult subjects? What does a documentary sprung out of these methods look like? How has the collaboration with Cilla Holm, film therapist and former film producer, contributed to make the process emotionally sustainable? The film industry is fast paced and burnout is not uncommon. Four years ago it happened to me and I had a total identity crisis. After grieving my old self, my ability to multi-task and my newfound stress intolerance, I came to the conclusion that I will not accept that I have to leave the film industry. I wanted to keep working, I just had to find another way to do it. A text about the creation of my documentary About Grief (2022) and the method that I call The emotionally sustainable film process.
Published: 2022

27. Real Estate M&A Motives : A Study of the Swedish Real Estate Market

Author: Lindbohm, Disa, Österholm, John, Lindbohm, Disa, and Österholm, John
Abstract: In the aftermath of the Covid-19 pandemic, the economy has been in a state of recovery. A far-reaching recovery could be observed in 2021, as economic activities, financial markets and industries showed positive growth throughout the year. The real estate sector in Sweden reached historically high volumes in the transactions market, with a heavy investor demand which also resulted in a record year for M&A. This master thesis aims to examine the motives behind M&A transactions in the Swedish sector, and the role of macroeconomic fundamentals and corporate key figures. The purpose of the study is to explore the M&A activity in the Swedish real estate market and what underlying conditions that may contribute to the rise of such transactions. Previous research within the field has primarily been focused on the occurrence, triggers and effects of M&A in general. This paper is limited to real estate M&A in the Swedish market, where no earlier studies have been found. The study combines a quantitative analysis and a qualitative research method, with the objective of uncovering motives of takeover companies, alongside a nuanced explanation of influencing variables. An initial collection of transactions data and key figures was executed to analyse the relations and developments.The thesis progressed with an empirical study through semi-structured interviews with takeover companies of recent M&A transactions. Results showed that low interest rates, an overall strong economy and stock market has stimulated the M&A activity. Further, the results of the qualitative study presented takeover motives comprising of synergy effects, financial advantages, and the interest to acquire attractive portfolios. It can be concluded that growth ambitions and lowered capital costs have influenced M&A as well, and the consolidation of assets has increased due to a high amount of listed small-sized companies, creating firm-matching opportunities., I efterdyningarna av Covid-19 pandemin har ekonomin varit i ett tillstånd av återhämtning. Under 2021 kunde en långtgående återhämtning observeras då ekonomiska aktiviteter, finansiella marknader och industrier påvisade positiv tillväxt genom hela året. Fastighetssektorn i Sverige nådde historiskt höga volymer på transaktionsmarknaden med en stark efterfrågan från investerare, vilket också resulterade i ett rekordår för strukturaffärer. Denna masteruppsats mål är att undersöka motiven bakom M&A-affärer i den svenska fastighetsbranschen, samt rollen av makroekonomiska variabler och nyckeltal. Uppsatsens syfte är att utforska aktiviteten kring denna typ av transaktioner i Sverige, och vilka underliggande förhållanden som kan ha bidragit till uppgången av M&A-affärer. Tidigare forskning inom ämnet har främst fokuserat på förekomsten, utlösande faktorer och effekter av M&A i ett generellt perspektiv. Denna studie är begränsad till M&A i fastighetssektorn på den svenska marknaden, där inga tidigare arbeten har hittats. Studien kombinerar en kvantitativ analys och en kvalitativ forskningsmetod, med avsikt att påvisa de köpande bolagens motiv, tillsammans med en nyanserad förklaring av påverkande variabler. En inledande insamling av transaktionsdata och nyckeltal genomfördes för att analysera förhållanden och utveckling. Arbetet fortlöpte med en empirisk studie av semistrukturerade intervjuer som genomfördes med köpande bolag, nyligen aktiva i M&A. Resultatet visade att M&A aktiviteten har stimulerats av låga räntor, samt en generellt stark ekonomi och aktiemarknad. Vidare påvisade resultatet från den kvalitativa studien att de köpande bolagens motiv omfattar synergieffekter, finansiella fördelar och en vilja att förvärva attraktiva portföljer. Författarna drar vidare slutsatsen att tillväxtambitioner och lägre kapitalkostnader har influerat M&A-utvecklingen. Konsolideringen av tillgångar har ökat till följd av att många små fastighetsbolag note
Published: 2022

28. Allt för miljön, men vem ska betala för det? : En kvantitativ studie om sambandet mellan industriföretags finansiering och deras miljöprestation

Author: Jahn, Michael, Leche, Emil, Jahn, Michael, and Leche, Emil
Abstract: Finansiering utgör en viktig del i att möjliggöra omställning mot miljövänligare företag. Möjligheten att anskaffa kapital och övergå till ett miljövänligare företag är samtidigt emellanåt bristfälligt. Det gäller även för industriföretag där branschen är inne i en omställning mot Industri 4.0, vilket förväntas bidra till miljövänligare företag. I den här studien undersöks sambandet mellan miljöprestation i västerländska industriföretags och företagens finansiering. Utifrån tidigare forskning om finansiering med anknytning till finansieringsbeslut, samt hur hållbarhetsmått kan ha inverkan vid finansiering, har industriföretagen analyserats. Studien utgår från en kvantitativ metod, där sekundärdata har hämtats från Thomson Reuters Refinitiv Eikon. Med insamlad data analyseras industriföretags kapitalstruktur gentemot deras miljöprestation genom en multivariat regressionsanalys. Studiens resultat påvisar inget statistiskt signifikant samband mellan industriföretags kapitalstruktur och deras miljöbetyg. Av den anledningen konstateras det att miljöprestation inte har något statistiskt signifikant samband med företagens tillvägagångssätt vid finansiering. Därtill konstateras det även utifrån studiens analys att informationsasymmetrin är densamma oberoende på miljöprestation. Studien bidrar med ökad förståelse beträffande sambandet mellan industriföretags miljöprestation och hur de finansierar sig., Financial opportunities are an important part of the transition towards environmentally friendly companies. The ability to raise capital for this transition in companies is at the same time, to some extent, inadequate. These inadequacies also affect industrial companies, a sector in transition towards “Industry 4.0”, which is expected to lower the environmental impact in the industry. This study examines the relation between environmental performance of industrial companies in western countries and their financing decisions. The industrial companies have been analyzed with regard to previous studies related to financial decisions and the effect of sustainable measures on financial opportunities. The study applies a quantitative method and uses secondary data collected from Thomson Reuters Refinitiv Eikon. With the gathered data the capital structure of the industrial companies have been analyzed compared to their environmental performance, by using a multivariate regression analysis. The findings of the study shows that environmental performance has no significant correlation with industrial companies capital structure. The findings also implies that information asymmetry, risk and uncertainties are not affected by the company's environmental performance. This study contributes to an extended understanding about the relation between environmental performance and industrial companies financing.
Published: 2022

29. Covid-19 och svenska elitidrottsklubbar : En kvalitativ intervjustudie om svenska elitfotbolls- & elithockeyklubbars finansiering och ekonomiska åtgärder till följd av pandemins ekonomiska effekter

Author: Bergqvist, Viktor, Sharifan, Ilia, Bergqvist, Viktor, and Sharifan, Ilia
Abstract: Syftet med denna studie är att genom intervjuer med företrädare för svenska elitidrottsklubbar, inom fotboll och ishockey, beskriva vilka ekonomiska åtgärder som vidtagits på grund av intäktsbortfallen till följd av Covid19-pandemin, samt vilka konsekvenser det har haft för klubbarnas finansiering och deras syn på risker med finansieringen. Pandemin har medfört ekonomiska påfrestningar med stora intäktsbortfall, vilket har satt klubbarnas finansiella verksamhet på prov. En verksamhet som redan präglas av idrottens ekonomiskt destruktiva konkurrens. Studien utfördes genom kvalitativ metod med en abduktiv ansats. Empiriinsamling skedde via fem semistrukturerade intervjuer med representanter från svenska elitfotbolls- och elithockeyklubbar, samt kringliggande organ som har direkt samröre med klubbarna. Intäktsbortfallen har framkallat ekonomiska åtgärder hos klubbarna i form av kostnadsbesparingar och alternativa intäkter, samt en mer kontinuerlig budgetering utifrån olika scenarion, baserade på eventuella restriktioners omfattning. Klubbarna anser att de har klarat sig bra rent ekonomiskt under pandemin. Detta härleds dock främst till stöd och bidrag från intressentgrupper som bidragit till deras ekonomiska motståndskraft. Trots att elitidrottsklubbarnas finansieringssätt visar sig vara riskfyllt, framför studien att klubbarna inte tar detta i beaktning då de kan förlita sig på stöd från intressentgrupperna vid tider av finansiella svårigheter., The purpose of this study is to describe, through interviews with representatives of Swedish elite sports clubs in football and ice hockey, what financial measures have been taken due to loss of income as a result of the Covid-19 pandemic, and what consequences it has had for the clubs financing and their view of the risks with their financing. The pandemic has brought economic constraints on the sports clubs, due to large losses of income, which has put their financial activities to the test. Activities that are already characterised by the economically destructive competition of sport. The study used a qualitative method with an abductive approach. The empirical data was collected by conducting five semi structured interviews with representatives from the sports clubs themselves, and also from surrounding organisations with direct association with the clubs. The loss of income has resulted in measures such as cost reduction, finding alternative income sources and a more continuous budgetary planning, based on scenarios of possible restrictions. The clubs consider themselves to have endured the economic constraints, brought by the pandemic, fairly well. However, the main contributing factor to the clubs economic resilience is support from interest groups. Even though the way elite sports clubs are financed is considered to be risky, the findings of this study show that the clubs do not take this into consideration because they can rely on economic support from these interest groups in times of financial distress.
Published: 2022

30. Har marknaden klimatångest? : En studie om hur svenska aktiemarknaden reagerade på släppet av FN:s klimatrapport sommaren 2021

Author: Aasen, Simon, Skogli, Karin, Aasen, Simon, and Skogli, Karin
Abstract: FN:s klimatpanel Intergovernmental Panel on Climate Change (IPCC) publicerade i Augusti 2021 en rapport som har uppmärksammats som en “kod röd” för mänskligheten i kampen mot klimatförändringar. Tidigare forskning visar att klimat- och miljöevent kan ge en avvikelseavkastning för hållbara investeringar. Dock saknas en liknande studie på den svenska aktiemarknaden och vi undersöker i denna studie om publiceringen av IPCC-rapporten 2021 hade en påverkan på avkastningen på Stockholmsbörsen. Vi genomför en eventstudie för att se marknadsreaktionerna för hela börsen, samt för aktier med höga respektive låga ENV-score (miljöbetyg). Inga signifikanta resultat kunde observeras och tolkningen görs att den svenska aktiemarknaden inte reagerade på publiceringen av IPCC-rapporten., The United Nations Intergovernmental Panel on Climate Change (IPCC) released a report on climate change in August of 2021. The report has been seen as a "code red" for humanity's fight against climate change. Previous research shows that climate and environmental events can result in abnormal stock returns for sustainable investments. However, a similar study is missing for the Swedish market and in this study we investigate if the publication of the report from IPCC 2021 had an impact on the return on the Stockholm Stock Exchange. We conduct an event study to see the stock market reactions for the entire stock exchange, as well as for sustainable and less sustainable stocks. No significant results could be observed and we therefore conclude that the Swedish stock market did not react to the release of the IPCC report.
Published: 2022

31. Vägen mot ett klimatneutralt EU : En kvantitativ studie om svenska aktiemarknadens reaktion på Europeiska kommissionens pressmeddelande gällande taxonomi och hållbar finansiering

Author: Fernström, Mikaela, Nygren, Fredrik, Fernström, Mikaela, and Nygren, Fredrik
Abstract: EU har som mål att bli klimatneutralt år 2050 och för att uppnå detta mål har ett flertal krav för företag som verkar inom EU tagits fram. Den 21a april 2021 meddelade Europeiska kommissionen att de beslutat om ett kommande åtgärdspaket vilket ämnar att styra kapital mot hållbara investeringar och som ska underlätta för investerare. Denna studie undersöker genom en eventstudie hur den svenska aktiemarknaden emottog pressmeddelandet. Studien finner en positiv avvikelseavkastning vilket går emot den uppställda hypotesen och tidigare studier vilka observerat en negativ reaktion. Resultatet är dock inte statistiskt signifikant, vilket tros bero på oenighet av konsekvenserna av åtgärdspaketet, eller att information om åtgärdspaketet redan nått marknaden. Vidare finner studien delvis stöd för samband mellan ESG-poäng och avvikelseavkastning genom t-test mellan företag som har höga/låga ESG-poäng, detta samband bekräftas inte i efterföljande regression. Vid jämförelse mellan branscher syns det att avvikelseavkastningen skiljer sig åt mellan dessa. Resultatet från studien tyder på att ESG-betyget har betydelse för företag.
Published: 2022

32. Den högre utbildningens organisation och finansiering i stöpsleven : Ställningstaganden till Strutens huvudbetänkande

Author: Börjesson, Mikael, Lindqvist, Moa, Göransdotter, Rebecka, Börjesson, Mikael, Lindqvist, Moa, and Göransdotter, Rebecka
Abstract: The organization and the financing of higher education under negotiation. Position-takings on the main report of the Swedish Commission of Inquiry on Governance and Resource In recent decades, Swedish higher education and research have undergone significant changes and seen a rapid growth. In parallel, more attention has been given to higher education institutions as strategic actors and the function of the higher education insti-tutions is currently under renegotiation with an increased number of actors demand-ing a say in its development. The Commission of Inquiry on Governance and Resources was set up to address a broad range of issues in higher education and research. Its work resulted in the report A Long-term, Coordinated and Dialogue-based Governance of Higher Education (SOU 2019:6). The article presents an analysis of referral responses to the report by constructing two related spaces: a space of position-takings and a space of referral organisations. Our conclusion is that the referral organisations’ position-takings are clearly related to their overall positions in the higher education sector as well as their more specific positions in the field of research and the field of higher education. This is also clearly visible in the argumentation of specific actors for certain standpoints., Svensk högre utbildning Finansiering, organisering, rekrytering, utfall, 1950-2020 (SHEFOE)
Published: 2022

33. Finansiella förutsättningar för cirkulära affärsmodeller i små- och medelstora företag

Author: Kallberg, Linus, Sjögren, Jakob, Kallberg, Linus, and Sjögren, Jakob
Abstract: Bakgrund: Övergången från en linjär till cirkulär ekonomi är något som har adresserats på en global nivå. SMF står för 56% av den svenska sysselsättningenoch är därmed en stor faktor i den svenska omställningen till en cirkulär ekonomi. För att kunna ställa om till en cirkulär ekonomi krävs det att de cirkuläraföretagen har tillgång till finansiering. Det finns en stor mängd forskning om olika typer av cirkulära affärsmodeller och hur de påverkar ett företags operativa verksamhet. Det finns även mycket forskning kring de finansiella förutsättningarna för SMF. Något som inte diskuteras lika mycket är hur de finansiella förutsättningarna ser ut för cirkulära affärsmodeller i SMF. Syfte: Syftet med denna uppsats är att kartlägga hur de finansiella förutsättningarna för att implementera och driva cirkulära affärsmodeller ser ut i svenska SMF. Metod: Studien är en kvalitativ tvärsnittsstudie som är utförd med en abduktiv ansats och med realism som vetenskaplig utgångspunkt. Det empiriska materialet har samlats in via semistrukturerade intervjuer med nio respondenter från olika SMF med cirkulära affärsmodeller och en respondent från ett finansieringsinstitut. Ett målstyrt urval har använts som urvalsmetod för att identifiera företag och respondentpersoner i relevanta positioner som skulle kunna bidra till studiens syfte. Slutsats: Resultatet av studien visar att SMF med cirkulära affärsmodeller skiljer sig i vissa avseenden gentemot linjära SMF när det kommer till finansiella förutsättningar. Cirkulära SMF:s finansiella implikationer kan medföra särskilda utmaningar som begränsar deras tillgång till finansiering, men det finns även implikationer som agerar som möjliggörare. De finansiella förutsättningarna skiljer sig mellan olika typer av cirkulära affärsmodeller i vissa avseenden, men förutsättningarna kan även skilja sig beroende på andra faktorer såsom ålder och storlek., Background: The transition from a linear to a circular economy is being addressed on a global level. SMEs account for 56% of Swedish employment and are thus a major factor in the Swedish transition to a circular economy. Transitioning from a linear economy to a circular economy requires that thecircular businesses have access to financing. There is a large body of research on different types of circular business models and howthey affect a company's operational activities. There is also plenty of research on the financial preconditions of SMEs. There is however a lack of research on the financial preconditions for circular business models in SMEs. Research aim: The aim of this paper is to identify the financial preconditions for implementing and operating circular business models in Swedish SMEs. Method: The study is a qualitative cross-sectional study conducted with an abductive approach and with realism as a research paradigm. The empirical material was collected via semi-structured interviews with nine respondents from different SMEs with circular business models and one respondent from a financial institution. Targeted sampling was used as a sampling method to identify companies and respondents in relevant positions that could contribute to the aim of the study. Findings: The results of the study show that SMEs with circular business models differ in some respects from linear SMEs in terms of financial preconditions. The financial implications of circular SMEs may pose specific challenges that limit their access to financing, however there are also implications that act as enablers. Financial preconditions differ between different types of circular business models in some respects, but preconditions may also differ depending on other factors such as age and size of the enterprise., Mistra REES
Published: 2022

34. Influencers kurspåverkan genom en social handelsplattform : En eventstudie på Shareville

Author: Isaksson, Oskar Vilhelm, Eriksson Olebratt, Fredrik, Isaksson, Oskar Vilhelm, and Eriksson Olebratt, Fredrik
Abstract: Sociala medier har blivit snabbt växande plattformar där människor kan diskutera, dela och inte minst erhålla information om aktuella ämnen. Framgången för sociala medier är ett tydligt tecken på människors växande intresse för åsiktsutbyte. Sociala medier har däremot sina brister, däribland menas att influencers kan orsaka överreaktioner samt leda till en ökad volatilitet på marknaden. Den stora mängdinformation som sprids på sociala medier och internet har lett till ett informationsöverskott. Vilket för privatpersoner innebär att det är svårt att hitta, filtrera och analysera all tillgänglig information om aktiebolag på marknaden för att ta välgrundade beslut som är både tids- och erfarenhetskrävande. Ett steg vidare i denna utvecklingen är sociala handelsplattformar som kan beskrivas som en nischad social media där enbart aktiehandel diskuteras och annat brus inte uppstår. Till en social handelsplattform kopplar användarna sitt aktiekonto så att deras köp och sälj av aktier blir offentliga. Huvudsyftet med denna studien är att undersöka huruvida det finns signifikanta tecken på att influencers aktiva på den sociala handelsplattformen Shareville kan påverka aktiepriser och handelsvolym på den svenska aktiemarknaden. Studien är vidare avgränsad till den svenska aktiemarknaden och undersöker endast svenska influencers på Shareville med över 10 000 följare och svensknoterade bolag av varierande storlek. Inga utländska influencers eller bolag återfinns därmed i denna studie. Studien är av kvantitativ karaktär och baseras därmed på sekundärdata från databasen Refinitiv Eikon men även primärdata från Shareville för att hjälpa oss att veta vilka influencers som har flest följare på handelsplattformen. Studiens resultat indikerar att influencers på Shareville kan påverka svenska aktiers avkastning och handelsvolym. Speciellt i bolag noterade på mindre marknadsplatser där vi ser en högre volatilitet än i till exempel Mid Cap och Large Cap noterade bolag. Utifrån studiens r, The growth of social media is a clear sign of people's interest in exchanging information. Social media, on the other hand, has its shortcomings, influencers can cause overreactions and lead to increased volatility in the stock market. A step further in the social media expansion is social trading platforms that can be described as a social media where only stock trading is discussed, and other noise does not arise. The main purpose of this study is to investigate whether there are significant signs that influencers active on the social trading platform Shareville can influence stockprices and trading volume in the Swedish stock market. The study is a quantitative study and is based on secondary data from the database Refinitiv Eikon but also primary data from Shareville. The results of the study indicate that influencers on Shareville can affect the return and trading volume of Swedish shares. Especially in companies listed on smaller markets where we see higher volatility than in, for example, Mid Cap and Large Cap companies. Based on what our results show, we can conclude that all marketplaces assumed from the effective market hypothesis are not effective in strong form, but rather semi-strong form., Betyg: Väl Godkänt (Högsta betyg)Grade: Pass with special distinction (highest grade)
Published: 2022

35. Kapitalstruktur i den svenska modebranschen : En kvantitativ studie om finansiering inom små och medelstora företag

Author: Hasan, Hagar, Abushiere, Roaa, Hasan, Hagar, and Abushiere, Roaa
Abstract: Kapitalstruktur avser förhållandet mellan eget kapital och skulder i form av kortfristiga- och långfristiga skulder inom ett företag. Studien har analyserat huruvida det existerar ett samband mellan ett företags kapitalstruktur och följande oberoende variabler; lönsamhet, tillgångsstruktur och tillväxt. Ålder och storlek har därutöver använts som kontrollvariabler. Dessutom har användningen av kortfristiga- och långfristiga skulder analyserats hos studiens urval som består av 89 små- och medelstora företag (SME) verksamma inom den svenska modebranschen under tidsperioden 2016–2019. Tidigare studier har analyserat dessa samband med ett stort urval som omfattar flera olika branscher och industrier medan modebranschen samt andra delbranscher lämnats relativt outforskat. Utifrån en multipel regressionsanalys har resultatet visat ett positivt samband med statistisk signifikans mellan kortfristiga skulder och storlek. Likaså har resultatet uppvisat en negativ statistisk signifikans mellan kortfristiga skulder och ålder, respektive lönsamhet. Resultatet påvisar inget samband mellan kortfristiga skulder och tillväxt respektive tillgångsstruktur. Studien överlag fann inget samband mellan långfristiga skulder och samtliga oberoende- och kontrollvariabler. Utöver detta har resultatet analyserats och diskuterats utifrån Pecking order teorin och tidigare forskning. Sammanfattningsvis illustrerar studien ett varierat resultat som både bestred och var i enlighet med ställda hypoteser., Capital structure refers to the relationship between equity and debt in the form of short-term debt (STD) and long-term debt (LTD) within a company. The study analyzed whether there is a relationship between a company's capital structure and the following independent variables; profitability, asset structure and growth. In addition, age and size have been used as control variables. Furthermore, the use of STD and LTD has been analyzed by the sample, which consists of 89 small and medium-sized enterprises (SME) that have operated in the Swedish fashion industry during the period 2016-2019. Previous studies have analyzed these relationships with a large sample that includes several different industries, but the fashion industry and other sub industries are still relatively unexplored areas. Based on a multiple regression analysis, the results have shown a positive relationship with statistical significance between STD and size. The result has also shown a negative statistical significance between STD and age as well as profitability. However, there was no relationship between STD and growth as well as asset structure. The study overall found no relationship between LTD and all independent- and control variables. The results were analyzed based on Pecking order theory and previous research. The study showed a varied result that both disputed and was in line with the hypotheses.
Published: 2022

36. Styrmedel och hållbarhet : En studie om EU-taxonomins påverkan på det befintliga fastighetsbeståndet i Sverige

Author: Juhlin, Filip, Olsson, Andreas, Juhlin, Filip, and Olsson, Andreas
Abstract: Människans påverkan på klimatet har gjort att klimatfrågan har fått allt större fokus i dagens samhälle. Fastighets- och byggsektorn står idag för 21 procent av växthusgasutsläpp och 40 procent av energianvändningen i Sverige. Parisavtalet har som mål att begränsa den globala uppvärmningen och är ett legalt bindande avtal mellan 194 länder och EU. För att minska utsläppen och begränsa den globala uppvärmningen antog EU kommissionen den gröna given som syftar till att minska nettoutsläppen av växthusgaser med minst 55 procent till år 2030. För att uppnå klimatmålen så behövs det även investeringar som riktar sig mot hållbara projekt och verksamheter. EU-taxonomin blev därmed ett faktum för att kunna skifta kapital till hållbara investeringar och för att skapa en gemensam definition av hållbarhet. Syftet med studien är att undersöka hur EU-taxonomin påverkar svenska fastighetsföretags incitament för att omvandla det befintliga beståndet till mer hållbart. Studien syftar även till att undersöka vilka utmaningar och möjligheter fastighetsföretag ser med EU:s taxonomi på lång och kort sikt. För att kunna uppnå syftet med studien har en kvalitativ metod använts. Det empiriska materialet består av fyra semistrukturerade intervjuer med respondenter från kommersiella fastighetsföretag. Det empiriska materialet har sammanställt och analyseras med hjälp av tidigare forskning samt det teoretiska ramverket. Det teoretiska ramverket grundar sig i marknadsmisslyckande, administrativa styrmedel och ekonomiska styrmedel. Resultatet visade att det finns ett marknadsmisslyckande och att det föreligger delade meningar om att EU-taxonomin skapar incitament till att omvandla det befintliga beståndet till mer hållbart. Vidare uppdagas en del utmaningar, möjligheter, problem och kritik med EU-taxonomin., The human impact on the climate has meant that the climate issue has become increasingly focused in today's society. The real estate- and construction sector currently accounts for 21 percent of greenhouse gas emissions and 40 percent of energy use in Sweden. The Paris Agreement aims to limit global warming and is a legally binding agreement between 194 countries and the EU. To reduce emissions and limit global warming, the European Commission adopted The European Green Deal, which aims to reduce net greenhouse gas emissions by at least 55 percent by 2030. In order to achieve the climate goals, investments are also needed that targets sustainable projects and activities. The EU taxonomy thus became a fact in order to shift capital into sustainable investments and to create a common definition of sustainability. The purpose of the study is to investigate how the EU taxonomy affects Swedish real estate companies' incentives to transform the existing portfolio into more sustainable. The study also aims to examine what challenges and opportunities real estate companies see with the EU's taxonomy in the long and short term. In order to achieve the purpose of the study, a qualitative method has been used. The empirical material consists of four semi-structured interviews with respondents from commercial real estate companies. The empirical material has been compiled and analyzed using previous research as well as the theoretical framework. The theoretical framework is based on market failure, administrative instruments, and financial instruments. Results showed that there is a market failure and that there are divided opinions that the EU taxonomy creates incentives to transform the existing real estate stock into more sustainable. Furthermore, some challenges, opportunities, problems, and criticisms of the EU taxonomy are revealed.
Published: 2022

37. Ingen övergödning : Fördjupad utvärdering av miljökvalitetsmålen 2023

Abstract: Sveriges 16 miljökvalitetsmål har beslutats av riksdagen, och beskriver det tillstånd i miljön som det svenska miljöarbetet ska leda till. Vart fjärde år görs en fördjupad utvärdering där möjligheterna att nå miljökvalitetsmålen bedöms. Havs- och vattenmyndigheten ansvarar för uppföljning av tre miljökvalitetsmål: Ingen övergödning, Levande sjöar och vattendrag och Hav i balans samt levande kust och skärgård. Utvärderingen visar att det görs mycket positivt åtgärdsarbete som ökar möjligheterna att nå miljökvalitetsmålen på sikt. Det tar tid innan genomförda åtgärder leder till ett förbättrat miljötillstånd, eftersom återhämtningstiden i miljön är lång. Många omvärldsfaktorer påverkar möjligheterna att nå målen. Klimatförändringarna är en faktor som kommer göra det svårare att nå målen. Det senaste året har även det geopolitiska läget runt Östersjön, med Rysslands invasion av Ukraina, visat sig påverka miljöarbetet negativt genom att bland annat försvåra internationella samarbeten. För att nå miljökvalitetsmålen behövs fler fysiska åtgärder och ökad genomförandetakt. Samverkan mellan olika aktörer och internationella samarbeten är en förutsättning för att målen ska kunna nås.
Published: 2022

38. Coronastöd till företag : Integration i silos ett hinder för grön omställning och jämställdhet

Author: Johansson, Jeaneth, Johansson, Kristina, Jonasson- Tolv, Julia, From, Melinda, Kaluza, Johan, Johansson, Jeaneth, Johansson, Kristina, Jonasson- Tolv, Julia, From, Melinda, and Kaluza, Johan
Published: 2022

39. Finansiering af retssager i konkurs

Author: Pedersen, Lars Lindenkrone, Dupont, Laura Madeleine, Pedersen, Lars Lindenkrone, and Dupont, Laura Madeleine
Abstract: The purpose of this thesis is to examine the possibilities and limitations regarding the use of litigation funding for bankruptcy estates in Denmark. If a bankruptcy estate doesn’t have sufficient funds to conduct a lawsuit, it is forced to give up its potential claims. If a claim is given up, the creditor can pursue the claim for their own risk but for the benefit of the bankruptcy estate, cf. the Danish Bankruptcy Act section 137. Instead of giving up the claim, the bankruptcy estate has some alternative methods to obtain sufficient funds to conduct the lawsuit. Traditionally the creditors have been able to provide security for the cost of the lawsuit. Furthermore, the bankruptcy estate has been able to sell its claims for avoidance. In 2017 the Supreme Court of Denmark made a judgment, where the Supreme Court approved a financing contract between a bankruptcy estate and a creditor. According to the financing contract the creditor provided funds for the bankruptcy estates lawsuit in return of 50% of the lawsuit revenue as payment. The verdict of the Supreme Court confirmed that the bankruptcy estates had additional financing options and gave some indications of the boundaries for such financing. This has also opened for the use of financing method – called third party funding - where a thirdparty funds a lawsuit as an investment in return of remuneration. The area of litigation funding in bankruptcy estate is still somehow unregulated, which raises a wide range of questions, regarding funding contracts in the area of insolvency. These are questions such as, which obligations does the trustee of the bankruptcy estate have when a funding contract is concluded, and what consequences does the funding contract have on the creditors, the financer and the bankruptcy estate. These questions are analysed and answered in the thesis.
Published: 2022

40. Tilintarkastajan sukupuolen ja pätevyyden yhteys mukautettuihin lausuntoihin

Author: Nivalainen, Pia, Kauppatieteiden laitos, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Kauppatieteiden laitos, Faculty of Social Sciences and Business, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: revision, tilintarkastajat, finance, laatu, audit of the accounts, revisorer, kvalitet, sukupuoli, rahoitus, auditors (accountants), finansiering, quality, gender, accounting and finance, tilintarkastus, laskentatoimi ja rahoitus, kön
Published: 2022

41. Etuyhteyslainan markkinaehtoisuuden arviointi siirtohinnoittelussa

Author: Yläpihlajajärvi, Iina, Oikeustieteiden laitos, Department of Law, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Oikeustieteiden laitos, Faculty of Social Sciences and Business, Department of Law, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: transfer pricing, krediter, skatterätt, finance, lån, public administration, loans, hallinto-oikeus, credits, rahoitus, tax law, finansiering, siirtohinnoittelu, vero-oikeus, luotot, lainat, internprissättning
Published: 2022

42. Venture Capital -sijoitusten yhteys suomalaisten startup -yritysten kannattavuuteen ja kasvuun

Author: Marttila, Emmi, Kauppatieteiden laitos, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Kauppatieteiden laitos, Faculty of Social Sciences and Business, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: företag, finance, kannattavuus, investments (economics), yritykset, investoinnit, rahoitus, finansiering, investments, profitability, sijoitukset (talous), accounting and finance, placeringar (ekonomi), lönsamhet, enterprises, investeringar, laskentatoimi ja rahoitus
Published: 2022

43. Systemaattinen Arvosijoittaminen Pohjoismaissa 2008-2021

Author: Tarkkonen, Niko, Kauppatieteiden laitos, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Kauppatieteiden laitos, Faculty of Social Sciences and Business, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: Pohjoismaat, arvopaperimarkkinat, finance, värdepappersmarknaden, Norden, security market, investments (economics), rahoitus, Nordic countries, finansiering, investors, sijoittajat, sijoitukset (talous), accounting and finance, placeringar (ekonomi), laskentatoimi ja rahoitus, investerare
Published: 2022

44. Pk-yritysten pääomarakenteeseen vaikuttavat yritysominaisuudet

Author: Nevalainen, Mira, Kauppatieteiden laitos, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Kauppatieteiden laitos, Faculty of Social Sciences and Business, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: agentteorin, capital, financial statements, pääomarakenne, företag, tilinpäätös, finance, small and medium-sized enterprises, agenttiteoria, kapital, yritykset, pääoma, rahoitus, finansiering, små och medelstora företag, bokslut, trade-off teoria, agency theory, accounting and finance, enterprises, pienet ja keskisuuret yritykset, laskentatoimi ja rahoitus
Published: 2022

45. Yrityksen kasvun rahoitus yrityskauppatilanteissa

Author: Turunen, Tomas, Kauppatieteiden laitos, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, Kauppatieteiden laitos, Faculty of Social Sciences and Business, Department of Business, Yhteiskuntatieteiden ja kauppatieteiden tiedekunta, and Faculty of Social Sciences and Business
Subjects: capital, corporate acquisitions, företag, finance, small and medium-sized enterprises, yrityskaupat, kapital, kapitalplacering, borrowed capital, capital investment, yritykset, pääoma, rahoitus, pääomasijoittaminen, främmande kapital, företagsköp, finansiering, små och medelstora företag, vieras pääoma, accounting and finance, enterprises, pienet ja keskisuuret yritykset, laskentatoimi ja rahoitus
Published: 2022

46. External Funding of Doctoral Education: Background and Reflection

Author: Tobias Uller
Subjects: Doctoral education, external funding, Higher Education Ordinance, doktorandutbildning, finansiering, projektfinansiering, Education (General), L7-991
Abstract: External funding of doctoral education is becoming increasingly common in Sweden. Here I discuss how this practice may cause tensions between the learning outcomes in the Higher Education Ordinance and the practice of doctoral education. Employment on externally funded projects tend to marginalize some components of education that traditionally have been considered fundamental for third cycle students, and creates more complex roles for both students and supervisor. These can have both positive and negative consequences for student-supervisor relations that warrant further study. The increased reliance on external funding to support students also raises fundamental questions about the form, content, and aims of doctoral education.
Published: 2016

47. The emotionally sustainable film process : the birth of a documentary film

Author: Löfgren, Emilie
Subjects: leadership, filmprocess, utmattning, dokumentärfilm, konst, hållbarhet, vulnerability, artistic research, film, emotions, documentation, director, framtid, film producer, utmattningssyndrom, the emotionally sustainable film process, kindness, den emotionellt hållbara filmprocessen, finansiering, grief, filmregissör, sorg, art, therapy, burnout, filmproducent, Arts, sustainability, snällhet, terapi, documentary, team, konstnärlig forskning, sårbarhet som ledarskapsstrategi, Emilie Löfgren, working environment, film therapist, method, sårbarhet, regissör, film director, filmterapeut, framtidsmetod, film team, arbetsmiljö
Abstract: Hur skapar och utvecklar jag metoder för en filmprocess som värnar mitt eget och mina medarbetares mentala och känslomässiga välbefinnande när vi gör film om svåra frågor? Hur tar jag hand om mina medverkande? Hur ser min film ut som är sprungen ur en sådan arbetsprocess? Hur har arbetet med terapeuten Cilla Holm, tidigare filmproducent, bidragit till en hållbar filmprocess? Filmbranschen präglas av högt tempo och utmattningssyndrom är inte ovanligt. För fyra år sedan blev jag utmattad och efter att ha sörjt mitt gamla jag och min nya stresskänslighet kom jag fram till att jag inte tänker acceptera att jag inte ska kunna arbeta med det jag älskar, film och skrivande. Jag tänkte att det måste finnas andra sätt att arbeta med film och fortfarande få må bra. En text om skapandet av min dokumentärfilm Om sorg (2022) och metoden som jag kallar för Den emotionellt hållbara filmprocessen. How do I create healthy working methods that benefit my own and my team members mental and emotional wellbeing while making film about difficult subjects? What does a documentary sprung out of these methods look like? How has the collaboration with Cilla Holm, film therapist and former film producer, contributed to make the process emotionally sustainable? The film industry is fast paced and burnout is not uncommon. Four years ago it happened to me and I had a total identity crisis. After grieving my old self, my ability to multi-task and my newfound stress intolerance, I came to the conclusion that I will not accept that I have to leave the film industry. I wanted to keep working, I just had to find another way to do it. A text about the creation of my documentary About Grief (2022) and the method that I call The emotionally sustainable film process.
Published: 2022

48. Predikering av kredittpåslag forskjellene mellom Nordisk og Europeisk High-Yield

Author: Berg, Petter
Subjects: investering, finansiering
Abstract: Masteroppgave i finansiering og investering - Nord universitet 2022
Published: 2022

49. GRI-rapportering blant Norges 200 største selskaper – bare for syns skyld?

Author: Christensen, Hedda Engmo and Johansen, Emilie Borgan
Subjects: bærekraftsrapportering, finansiering, regnskap
Abstract: Masteroppgave i regnskap og revisjon - Nord universitet 2022
Published: 2022

50. Portfolio-optimization using cryptocurrencies

Author: Solem, Magnus
Subjects: investering, finansiering
Abstract: Masteroppgave i finansiering og investering - Nord universitet 2022
Published: 2022

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