<p>Denna studie har som syfte att undersöka den svenska IPO-marknaden under åren 1995-2005. Studien undersöker ett fenomen som är frekvent förekommande i samband med börsintroduktioner. Fenomenet kallas underprissättning och med begreppet menas den skillnad i pris som uppstår mellan en akties introduktionspris och dess stängningskurs första dagen den handlas publikt på en aktiebörs. Underprissättningen kan ses som potentiellt kapital som ett företag går miste om. Detta på grund av att aktiens stängningskurs i viss mån representerar vad investerarna verkligen var villiga att betala för en aktie. Detta är information som inte är tillgänglig då introduktionskursen sätts.</p><p>Studien har undersökt 113 börsintroduktioner på Stockholmsbörsens O-lista. Information har samlats in om de introducerade bolagens sektortillhörighet, introduktionskurs och stängningskurs samt kortsiktig kurs- och indexutveckling. Samband mellan dessa olika variabler har utforskats. Studien visar att det har förekommit underprissättning i Sverige under perioden på i snitt 16,28 procent per börsintroduktion. Underprissättningens storlek varierar kraftigt olika sektorer emellan och underprissättningen har varit som störst inom IT-sektorn.</p>

<p>Recent studies claims that Sweden has the lowest returns on education compared to other OECD countries. Other research made in the subject tend to focus on the gains from education, but forget to calculate the costs, both direct cost such as material, accommodation and food, but also opportunity costs from not working instead of investing in education.</p><p>The purpose of this thesis is to study if an investment in an education is an effective way of monetary utility maximizing in Sweden, in other words income. This thesis will investigate whether education will be a profitable investment, and if so how many years of employment it will take an individual to gain from that investment.</p><p>The Human Capital theory is the theoretical framework of this thesis and the result is in Swedish Crowns. This research quantifies that an education is an effective way to income maximizing and men’s payback time in monetary terms are more likely to be shorter than female’s.</p>

Advances in mathematical modelling and the availability of high speed computers with considerable memory size is making it possible to study the hydraulics of border irrigation in a greater depth than every before. A zero inertia mathematical model was found to be reliable and inexpensive among the models available in border irrigation hydraulics and was used for this study to simulate free outflow flowing border irrigation. Special emphasis was given to the runoff produced from such a system. This study dealt particularly with, the identification of pertinent open channel variables affecting runoff in border irrigation, presentation of predictive graphical and mathematical solution to quantify runoff, and with utilization of these solutions in developing reuse system design criteria. Inflow rate, surface resistance, border slope, soil infiltration characteristics, application time (time of cutoff and length of run of the border) were among other variables studied. As one might expect, runoff was found to increase with slope, flow rate, application time and decrease with increase in infiltration rate, length of run and bed and vegetation drag. Considering the number of variables affecting runoff characteristics from a given irrigation, it was obvious to see a thorough examination of each variable in dimensional terms was practically impossible. Also, presentation of the results would have required too many graphs. Dimensional anslysis was used to solve this problem and in developing dimensionless runoff curves. The ability to quantify runoff made it possible to develop reuse system design formula for proper sizing of reuse systems under several operational requirements. Shape function for the ultimate infiltrated depth profile was used to get times of runoff and also calculate various efficiencies which are useful for evaluating the system. The study shows, through the use of reuse system, the potential application efficiency can be changed from present values of 60 percent to 90 percent in Arizona. It also can be used to demonstrate the saving in energy that can be realized through such system. Step by step procedures for the design of reuse system using graphical and mathematical solutions are presented with a sample problem worked out. It is expected that the result of this study can be used by designers as well as operators of border irrigation systems without any difficulty with the aid of a simple pocket calculator. Other uses of the study include getting optimal design for the system itself by evaluating various possible designs and classroom instruction on the application of dimensional analysis to open channel hydraulics problems and design of reuse systems.

Bakgrund och problem: År 1999 blev det tillåtet för idrottsföreningar med elitverksamhet att bilda aktiebolag. I dag har endast 23 stycken idrottsföreningar av ungefär 20 000 valt att bilda aktiebolag som man upplåtit sin serieplats till. Inför Riksidrottsmötet 1997 lämnade AIK, Svenska ishockeyförbundet samt några enstaka mindre föreningar in en motion om att idrottsföreningar skulle få möjlighet att driva föreningen i en alternativ assoicationsform. Argumentet för denna motion var att detta skulle ge en möjlighet för svensk idrott att kunna konkurrera sig med internationella föreningar. En bättre ekonomi skulle ge bättre sportsliga resultat. För att kunna närma sig den internationella nivån behövs stora finansiärer, vilket man inte hade möjlighet till genom den associationsform föreningar var tvungna att bedrivas som. Problemformulering: Ger bolagiseringen bättre ekonomiska och sportsliga resultat? Syfte: Syftet med denna studie är att undersöka hur föreningens finansiella resultat och sportsliga resultat påverkas av den nya bolagiseringen. Metod: Studien har genomförts som en kvantitativ fallstudie på fyra stycken fotbollsföreningar som bildat aktiebolag. Ekonomiska värden och tabellposition har sedan analyserat för idrottsAB från 1999 till 2011 samt över alla lagen i allsvenskan 2011 och superettan 2011. Studien innehåller även kvalitativa inslag. Slutsats: Slutsatsen är att bolagiseringen av elitverksamheten för föreningar varken ger ekonomiska eller sportsliga lyft. / Background and problem: In 1999 it became allowed for sport clubs to run their clubs as a company. In Sweden today, there is only 23 of approximately 20000 sport clubs that runs their club as a company. in 1997, before the swedish national sport meeting, a few clubs, such as AIK, and the Swedish Icehockey Association submitted a motion that included a request that the clubs could be runned in an another legal form. The main reason for this motion was that it would give the clubs other opportunities for financing, and that would make the clubs competitive in Sweden such as international. To approach the international clubs, the clubs in Sweden needed major external financiers, which was not allowed before.A better economy at the clubs whold lead to better results on the pitch. Problem formulation: Does the corporatisation of the Swedish football clubs give better economic-and sport results? Purpose: The purpose of this study is to find out how the economic and sport results depend on the corporatisation. Method: This case studie has been performed with a quantitative method on four football companies in the two major leagues. Economical values and the positions in the leagues between 1999-2011. There is also a comparision between the companies and the other clubs in the league for 2011. The studie also includes qualitative elements. Conclusion: The conclusion is that the corporatisation of the Swedish football clubs does not affect the economic results and sport results.

Each year approximately 90,000 new cases of cancer are diagnosed in people of working age in the United Kingdom (UK) (Morrell & Pryce, 2005). The potential impact of cancer and its treatment on working life is substantial, with approximately 40% of all cancer patients taking time off work during treatment and recovery (Short, Vasey & Tunceli, 2005). However, little information is available on employment outcomes for those managing colorectal cancer. Colorectal cancer is a commonly diagnosed cancer with approximately 36,000 people diagnosed each year in the UK. Although research demonstrates promising return to work outcomes for this group, not enough is known about the factors (variables) impacting their return to work intentions, work ability and employment outcomes. The aims of this research were to: examine the return to work intentions, work ability and employment outcomes of colorectal cancer patients over six months; explore the role of self-efficacy and psychosocial well-being, and explore the role of health professionals in providing work-related support and information to patients. Findings from these studies may help to better inform future interventions to support this cancer group. Fifty participants newly diagnosed with colorectal cancer were recruited from three Acute NHS Trusts (n = 27) across the Midlands and a support group (n = 23) affiliated to a National Cancer Charity. Participants completed questionnaires at three time points: baseline (post surgery or pre-treatment); follow-up time 1 (3 months), and follow-up time 2 (6 months). As well as illness and demographic characteristics, the questionnaires measured job self-efficacy, work ability, cancer self-efficacy, quality of life, fatigue and depression. A sub-sample of participants (n = 10) completed a monthly diary over six months. This captured temporal fluctuations and patterns in cancer management, return to work intentions and work ability and the factors impacting upon these (self-efficacy and social support). Finally, 18 health professionals participated in semi-structured interviews that explored the nature and type of work-related advice currently provided to colorectal cancer patients. Data were analysed using both quantitative (ANOVAs and regression) and qualitative techniques (thematic analysis). The questionnaire study identified varying levels in self-assessed work ability and psychosocial well-being. Most importantly, positive changes in perceptions of cancer self-efficacy F (1.02, 61.12) = 14.70, p = 0.0005, and job self-efficacy F (2, 94) = 10.85, p = 0.0005 were detected over time; however, interactions between treatment type and time did not emerge (p > 0.05). Factors related to perceived work ability outcomes cross-sectionally included type of occupation (β = 0.31, t = 2.65, p = 0.0005) and quality of life (β = 0.42, t = 2.57, p = 0.01) at baseline, treatment type (β = -0.19, t = -1.94, p = 0.05) at follow-up time 1 and job self-efficacy at follow-up time 1 (β = 0.57, t = 4.40, p = 0.0005) and time 2 (β = 0.50, t = 2.92, p = 0.006). In contrast, factors related to employment status (i.e. working, not working) were job self-efficacy (OR = 2.20, 95% CI: 1.17 4.13) at baseline and occupation (OR = 0.03, 95% CI: 0.00 0.86), and perceived work ability (OR = 3.05, 95% CI: 1.00 12.80) at follow-up time 2. Along with self-assessed work ability at baseline (β = 0.67, t = 3.99, p = 0.0005), receiving chemotherapy alone or a combination of treatments (i.e. other than surgery alone) (β = -0.24, t = -1.99, p = 0.05) were the strongest predictors of follow-up work ability (independent of age and occupation). Finally, treatment type (OR = 9.91, 95% CI: 1.57 62.50) was also identified as the strongest predictor of employment status approximately six months after diagnosis. Findings from the diary study suggest that self-efficacy beliefs were important in understanding employment outcomes and return to work intentions. The role of such beliefs was multi-faceted and results infer that several factors seemed to impact return to work intentions and self-efficacy temporally. Treatment, symptoms and decrements in perceived work ability were identified as the most prominent factors that served as barriers preventing resumption of work. Moreover, there was a degree of disparity between return to work intent and work ability. Additionally, the diary study identified variation in work-related advice and guidance provided to colorectal patients. Subsequently, some participants may have been under the impression that they were unable to work, especially during treatment. Results from the interview study found that health professionals attempted to provide guidance to working-aged patients. However, the nature of such guidance varied due to experience, knowledge and time constraints. Furthermore, participants highlighted a lack of knowledge and an insufficient evidence base were barriers to providing more appropriate guidance. The majority of participants stated that this was an aspect of patient care that falls short and to address the issue a concerted multi-disciplinary effort was required. In short, the findings indicate that the factors related to work ability, return to work intentions and employment outcomes of colorectal cancer patients varied over time, whereby certain variables took precedence over others at particular time points. Furthermore, the results suggest that self-efficacy beliefs are important; however, it is crucial to point out that self-efficacy is unlikely to operate as a stand-alone factor. Indeed, it is argued that it may be a construct that is considered in future research endeavours alongside pre-existing findings, which would inevitably help towards gaining a more comprehensive account of the factors related to the work outcomes of individuals affected by cancer.

Since 1993, the Private Finance Initiative (PFI) has been the dominant form of large-scale infrastructure procurement used by National Health Service (NHS) organisations in the United Kingdom. As of April 2011, 123 PFI projects for new hospital facilities had been agreed between NHS organisations and private sector consortia, representing privately financed investment of £15.9 billion (in 2010 prices), and a projected long-term cost to the NHS of £70.5 billion. Eight additional hospital PFI schemes were being procured or prepared for tender as of April 2011, with an estimated capital investment value of £2 billion. Despite the financial significance of PFI projects to the NHS, the literature has not assessed whether, or the extent to which, the returns expected by investors are excessive. This gap in the evidence base is highly problematic. The presence of excess returns to investors will have an impact on the cost efficiency and affordability of PFI projects, and consequently the financial sustainability of the NHS organisations that pay for them. This thesis evaluates the returns that investors in NHS-commissioned PFI projects expect to earn with reference to the scale of risk being borne by these investors, and explores the sources of the identified excess via an examination of the structure and competitiveness of the PFI financing markets. The study therefore comprises two substantial empirical components. The first draws on the financial models of 11 NHS PFI projects to describe and evaluate the return to investors. Cost of capital benchmarks, constructed on the basis of the Capital Asset Pricing Model, are used as comparators to assess the Internal Rate of Return (IRR) for the 11 projects, and as discount rates to calculate Benefit-Cost Ratios. Both measures agree on the presence of significant excess returns for investors on each project – with large “spreads” between the IRRs and the corresponding cost of capital benchmarks, and high Benefit-Cost Ratio scores. The second empirical component provides an analysis of the structure and competitiveness of the market for private finance. Two indicators of this market’s structure – concentration and entry/exit rates – in addition to the dynamics of the procurement process are the focus of measurement and evaluation. It is demonstrated that: (a) the market for private finance in this sector is an oligopoly, (b) market share is highly concentrated when assessed against UK regulatory standards, and (c) churn and market penetration rates are extremely low. Constraints on the competitiveness of the market are identified as: (i) the low number of bidders; and (ii) the extensive period of non-competitive bidding in the final phase of the procurement process, in which the output specifications of projects are materially altered. The thesis concludes that recent reforms to the procurement process have been ineffective, and the problems underpinning a lack of competitive pressure in procurement may be insuperable, given the inherent complexity of this form of investment and the need to secure external financing. For the NHS, this source of cost inefficiency implies substantial opportunity costs (i.e. foregone opportunities for additional capital investment) and excess costs (i.e. a higher than necessary burden on the revenue budget). A stronger regulatory regime, incorporating regulation of the profitability of PFI projects for investors, is required to minimise the threat posed by this policy to the financial sustainability of the NHS.

Unlike many of their North African and West African compatriots who reunified with family and settled in France in the 1970s and 80s, the decision of migrant worker hostel residents not to return definitively to places of origin at retirement is puzzling. Firstly, it calls into question the assumptions of the ‘myth of return’ literature, which explains non-return on the basis of family localisation. In the case of ‘geographically-single’ hostel residents, however, the grounds for non-return cannot be family localisation, since the men’s families remain in places of origin. Secondly, older hostel residents also remain unmoved by the financial incentives of a return homewards, where their French state pensions would have far greater purchasing power. Instead of definitive return, the overwhelming preference of hostel residents is for back-and-forth migration, between the hostel in France and communities of origin. The aim of this dissertation is to resolve this puzzle, by asking: What explains the hostel residents’ preference for back-and-forth mobility over definitive return at retirement? In order to make sense of these mobility decisions, several theories of migration are presented and evaluated against qualitative data from a multi-sited research design incorporating ethnography, life story and semi-structured interviews, and archive material. This fieldwork was carried out across France, Morocco and Senegal. Although no one theory adequately accounts for all the phenomena observed, the added value of each theory becomes most apparent when levels of analysis are kept distinct: at the household level as regards remittances; at the kinship/village level as regards re-integration in the home context; at the meso-level of ethnic communities in terms of migrants’ transnational ties; and at the macro-level of social systems concerning inclusion in healthcare and administrative organisations. Widening the focus beyond the puzzle/dilemma of late-in-life mobility, the thesis concludes by questioning what ‘home’ can mean for the retired hostel residents. An innovative way of theorising home – building on conventional conceptions of home based on territory and community – is outlined, arguing that to be ‘at home’ can also mean to be ‘included’ in different ‘social systems’. With this argument the thesis aims to contribute to broader debates on what it means for immigrants to belong and achieve inclusion in society.

This paper is exploring return migration in Sweden by implementing logistic regression technics on the cohort born 1978. In order to evaluate how socio-economic and geographical characteristics influence individuals propensities to re-circulate to the municipality of origin. Previous studies have indicated that socio-economic status is a selective trait that can either push or pull return migrants, depending on the setting. The theory of urban hierarchies was also applied to investigate if people were more likely to move back to certain region types. The calculations showed that 22 % of the movers had returned to their place of origin, with regional variations ranging from 18-30 %. The regression result revealed that a high socio-economic status decreased the likelihood of returning, while growing up in metropolitan city and having strong social capital in the place of origin increased the propensity. The findings were further supporting that movers have higher incomes than stayers, while return migrants gained less on their re-location in relation to all movers. I argue that these varying likelihoods depend on structural socio-economic divisions, which are pulling human capital to the metropolitan regions and causing a brain drain in the periphery. These population trends are replicating themselves over time and it is assumed that these processes are to enforce the regional disparities in the future.

This study examined training evaluation practices in U.S. nonprofit sector organizations. It offered a framework for evaluating employee training in the nonprofit sector and suggested solutions to overcome the barriers to evaluation. A mail survey was sent to 879 individuals who were members of, or had expressed an interest in, the American Society for Training and Development. The membership list consisted of individuals who indicated association/nonprofit or interfaith as an area of interest. Data from the survey show that training in the nonprofit sector is evaluated primarily at Level 1 (reaction) and Level 2 (learning). It also shows decreasing use from Level 3 (application) through Level 5 (ROI). Reaction questionnaires are the primary method for collecting Level 1 data. Facilitator assessment and self-assessment were listed as the primary method for evaluating Level 2. A significant mean rank difference was found between Level 2 (learning) and the existence of an evaluation policy. Spearman rho correlation revealed a statistically significant relationship between Level 4 (results) and the reasons training programs are offered. The Kruskal-Wallis H test revealed a statistically significant mean rank difference between "academic preparation" of managers with Level 3 evaluation. The Mann-Whitney U test was used post hoc and revealed that master's degree had a higher mean rank compared to bachelor's degree and doctorate. The Mann-Whitney U test revealed that there were statistically significant mean rank differences on Level 1, Level 2, Level 3, and Level 5 evaluation use with the barriers "little perceived value to the organization," "lack of training or experience using this form of evaluation," and "not required by the organization." Research findings are consistent with previous research conducted in the public sector, business and industry, healthcare, and finance. Nonprofit sector organizations evaluate primarily at Level 1 and Level 2. The existence of a written policy increases the use of Level 2 evaluation. Training evaluation is also an important part of the training process in nonprofit organizations. Selecting programs to evaluate at Level 5 is reserved for courses which are linked to organizational outcomes and have the interest of top management.

Background: It is proven difficult to provide evidence for the financial benefit of marketing operations within firms and marketing is the last organizational function to achieve an adopted quantitative method to track and measure its effectiveness. As a result, demands for marketing to provide accountability for its inputs toward firm performance have increased over the past decade and there are an increasing amount of methods looking to measure its contributions.   Problem: Small businesses need to invest financial resources in marketing in order to increase their market share and sales. However, marketing’s value to the firm as an organizational function often goes undervalued. Additionally, small businesses commonly lack the marketing experience and knowledge required in order to make more profitable marketing investment decisions.   Purpose: The purpose of the thesis is to research how much marketing investment influences the profit/sales effectiveness of small business within the clothing sector in Sweden.   Method: The study was conducted using a quantitative research method, through the analysis of 23 small businesses in clothes retailing industry located in Sweden. The data was collected through the firms’ annual reports and telephone surveys with firm managers. This information was processed using a relevant marketing effectiveness model in combination with regression and correlation analyses. Empirical findings were analyzed using theories relevant to pursuing the purpose.   Conclusion: Based on the findings the study concludes that there is evidence for a positive relationship between a firm's marketing investments and sales, as well as between the effectiveness of its marketing activities and it’s incremental revenue. This provides evidence for marketing investments contributing to the economic effectiveness of the firm and that the firms marketing effectiveness contributes to overall financial growth