This study examines the impact of risk premium factors on cap rates within Sweden's largest office markets. The research questions address the significance of various micro- and macroeconomic variables on cap rates, as well as the extent of this impact and how it varies across different locations. The study employed a quantitative approach, specifically regression analyses, to examine three different localizations from the years 2003 to 2022. The dataset used included information from JLL and large institutions. The study found that the top three optimized models could explain 80-90% of the fluctuations in office cap rates in the CBD of Stockholm, Gothenburg, and Malmö. To sum up, the 10-year treasury bill and the spread between Baa and Aaa corporate bond yields are the main variables that have the largest impact on cap rates across all locations. The 10-year treasury bill serves as a proxy for the risk-free rate. Nonetheless, the risk-free rate had a relatively lower impact in Malmö compared to Stockholm and Gothenburg's CBD. / Denna studie undersöker effekterna av riskpremiefaktorer på cap rates för Sveriges största kontorsmarknader. Forskningsfrågorna behandlar betydelsen av olika mikro- och makroekonomiska variabler på cap rates, samt omfattningen av påverkan och hur den varierar mellan olika städer. Studien använde ett kvantitativt förhållningssätt, specifikt regressionsanalyser, för att undersöka tre olika områden från åren 2003 till 2022. Datamängden som användes innehöll information från JLL och stora institutioner. Studien fann att de tre mest optimerade modellerna kunde förklara 80-90% av fluktuationerna i cap rate för kontorsmarknaden i Stockholm, Göteborg och Malmö CBD. Sammanfattningsvis är den 10-åriga statsobligationen och spreaden mellan Baa- och Aaa-företagsobligationsräntorna de variablerna som har störst inverkan på cap rates för de tre städerna. Den 10-åriga statsobligationen fungerar som en proxy för den riskfria räntan. Dock har den riskfria räntan en relativt lägre påverkan i Malmö jämfört med Stockholm och Göteborg CBD.

Twenty years ago, Chang et al. (1998) introduced the three-yield stresses concept (dynamic, static and elastic limits) to describe yielding of waxy crude oils cooled below the wax appearance temperature (WAT). At the time, the limits in rheological instruments were such that they never actually measured the elastic-limit, a key fundamental property. Using modern instruments, this research succeeds in recording for the first time the entire yielding process down to stresses of 10-7 Pa and shear rate of 10-6 min-1 as a function of temperature, cooling rate and stress loading rate using two waxy oils of different origins and wax content. A four-yield stress model is established using derivative data (dynamic fluidity and failure acceleration). In addition, calorimetry (DSC) and microscopy (CPM) helped extract WAT, the gel and pour points and link gel crystal structure and its yielding and breakage to rheological properties. The yielding stresses measured rheologically were tested in laboratory pipelines at two diameter scales, 6.5mm and 13.5mm to compare stresses in uniform and non-uniform cooling. It is demonstrated that rheological instruments can only predict gel breaking pressure when the cooling rate is low, i.e. yielding at the pipe wall. A complementary heat transfer study was performed on a section of pipe statically cooled, both experimentally and theoretically to predict the gel front-liquid oil interface that develops in industrial pipeline where gel breaking occurs. This key information together with rheological data provide the means to predict accurately restart pressures of shut gelled pipelines that have eluded previous research. / Ministry of Higher Education of the Libyan Government

Master of Science / Department of Computing and Information Sciences / Daniel Andresen / This report considers a native Android application called “KSUSoy YieldCalc” that assists in yield estimation of soybean before harvest following conventional approach. Android is one of the most popular installed base of any mobile platform, powering many mobile devices in more than 190 countries for users of diverse economic backgrounds, making it more popular than iOS devices (Android developers n.d.).The project “KSUSoy YieldCalc” adopted the Android platform as its base to serve farmers, agronomists, and consultants and deliver performance to save time and enhance farmers’ their confidence. The native application uses “conventional approach” of estimation of yield for calculations and eliminates the need for having Internet connection to access, thereby increasing the application’s flexibility. The project utilized Android Software Development Kit (SDK) as its development platform with extensive Java and Extensible Markup Language (XML) coding. The Department of Agronomy at Kansas State University (KSU) tested the application with promising results. Dr. Ignacio Ciampitti of the Department of Agronomy at KSU currently demonstrates the application to farmers. User feedback has been very satisfactory to date.

Vi undersöker om det finns ett samband mellan utländskt ägande och utdelningsnivå i svenska företag. Urvalet består av de 40 största företagen på Nasdaq OMX Stockholm under perioden 1999-2006. Studien visar att det finns ett negativt samband mellan utländskt ägande och direktavkastning, samt ett positivt samband mellan börsvärde och utländskt ägande. Vidare analys visar inget signifikant samband mellan utländskt ägande och börsvärde, samband beror således på mellanliggande variabler. Studien finner inget samband mellan utdelningsandel och utländskt ägande. / In this paper we examine the relationship between foreign ownership in Swedish firms and dividend yield amongst the 40 largest firms on Nasdaq OMX Stockholm between the years 1999-2006. We find evidence of a negative relation between foreign ownership and dividend yield, and furthermore a relation between foreign ownership and market capitalization. Further analysis shows that foreign ownership does not relate to market capitalization, thus the relation is due to intermediate variables. The paper finds no relation between payout ratio and foreign ownership.

Two trials were conducted to determine the effect of protein degradability (low (LD) vs high (HD)) and evaporative cooling (shade cooling vs shade) on performance of 60 lactating Holstein cows in mid-lactation. Cooling and the LD diet increased milk production, 3.5% FCM and feed efficiency in trial 1 (24 cows) while in trial 2 (36 cows) LD diet increased milk production and feed efficiency and cooling did not exert a significant effect. Differences between trials were probably due to higher environmental temperature humidity indexes (77.0 vs 72.0), and a higher quality of the rumen bypass protein in the LD diet in trial 2 than trial 1. Cooling reduced respiration rates in trial 1 and respiration rates, rectal and inner ear temperatures in trial 2. Eating patterns were unaffected by protein degradability or cooling.

Sub-Saharan Africa is a treasure chest of natural materials remaining to be explored for commercial applications and as alternative foods to diversify and improve food sustainability. The Marula tree is available in abundance in South Africa and bears a fruit with a highly nutritious kernel containing high oil and protein content. The oil from the kernels has various applications from food to cosmetics. The accepted oil processing practice is required to be a green technology, producing no effluent or using toxic solvents. Therefore, the oil is extracted using an expeller. However, with average 55 wt. % oil in the kernel the extracted oil yield is far from optimal, typically ranging from as low as 7 wt. % to 47 wt. %. The latter is obtained only with proprietary modified expellers. Therefore, an alternative green technology which retains the native characteristics of the Marula oil is needed. Communication with local producers, South African and Namibian, confirmed the need for investigation of an alternative means of extraction of Marula oil from the seed kernels which can improve the yield and potentially the quality of the oilcake. The latter of which is typically adversely affected by the expelling process. A review of various processing technologies available for oil extraction was completed and supercritical fluid extraction utilizing carbon dioxide as the extraction solvent was identified as a potential solution. An overview on supercritical fluid extraction using carbon dioxide (SFE-CO2) of similar materials to the Marula kernels, such as hazelnuts, walnuts and pine kernels indicates that yields similar to that of solvent extraction and of the quality of the oils obtained by cold pressing can be obtained with the technique. The theory, practical applications, and how one can use the system to improve yield from various natural materials were reviewed. It was determined that the two main parameters one can manipulate on supercritical extraction systems to optimize the yield, were pressure and temperature. Subsequently kernels of the Sclerocarya birrea tree, common name Marula, cultivated in South Africa, were obtained for extraction with supercritical carbon dioxide. The effects of pressure and temperature on extraction yield were investigated. The total maximum yield of Marula kernel oil obtained was found to be 54 wt. %, compared to a solvent extracted yield of 52 wt. %, such that a 100 % oil recovery was obtained with SFE-CO2. The optimal conditions were found to be 450 bar and 60 °C as the yield per kg solvent initially was 41 g kg-1 CO2. Following the extractions, the oils were characterized for fatty acid composition using gas chromatography. Quality parameters of a cold pressed sample and a sample obtained at the optimal extraction conditions were determined and compared; and the results indicate that the two oils are of similar composition and quality. Supercritical fluid extraction using carbon dioxide was successfully verified as a potential processing method for the extraction of Marula oil from the kernels. The SFE-CO2 provided an improved yield compared to cold pressing and a quality of oil similar to cold pressed Marula oil. Additionally, after SFE-CO2 processing, the defatted Marula kernels contain high protein content, 69 wt. %, in the form of a pure white powder. Due to the favourable nutritional content the residue may be used for human consumption to create new products such as meat analogues, porridges, and shakes, or can be sold as a high protein powder. / MSc (Engineering Sciences in Chemical Engineering), North-West University, Potchefstroom Campus, 2015

Sub-Saharan Africa is a treasure chest of natural materials remaining to be explored for commercial applications and as alternative foods to diversify and improve food sustainability. The Marula tree is available in abundance in South Africa and bears a fruit with a highly nutritious kernel containing high oil and protein content. The oil from the kernels has various applications from food to cosmetics. The accepted oil processing practice is required to be a green technology, producing no effluent or using toxic solvents. Therefore, the oil is extracted using an expeller. However, with average 55 wt. % oil in the kernel the extracted oil yield is far from optimal, typically ranging from as low as 7 wt. % to 47 wt. %. The latter is obtained only with proprietary modified expellers. Therefore, an alternative green technology which retains the native characteristics of the Marula oil is needed. Communication with local producers, South African and Namibian, confirmed the need for investigation of an alternative means of extraction of Marula oil from the seed kernels which can improve the yield and potentially the quality of the oilcake. The latter of which is typically adversely affected by the expelling process. A review of various processing technologies available for oil extraction was completed and supercritical fluid extraction utilizing carbon dioxide as the extraction solvent was identified as a potential solution. An overview on supercritical fluid extraction using carbon dioxide (SFE-CO2) of similar materials to the Marula kernels, such as hazelnuts, walnuts and pine kernels indicates that yields similar to that of solvent extraction and of the quality of the oils obtained by cold pressing can be obtained with the technique. The theory, practical applications, and how one can use the system to improve yield from various natural materials were reviewed. It was determined that the two main parameters one can manipulate on supercritical extraction systems to optimize the yield, were pressure and temperature. Subsequently kernels of the Sclerocarya birrea tree, common name Marula, cultivated in South Africa, were obtained for extraction with supercritical carbon dioxide. The effects of pressure and temperature on extraction yield were investigated. The total maximum yield of Marula kernel oil obtained was found to be 54 wt. %, compared to a solvent extracted yield of 52 wt. %, such that a 100 % oil recovery was obtained with SFE-CO2. The optimal conditions were found to be 450 bar and 60 °C as the yield per kg solvent initially was 41 g kg-1 CO2. Following the extractions, the oils were characterized for fatty acid composition using gas chromatography. Quality parameters of a cold pressed sample and a sample obtained at the optimal extraction conditions were determined and compared; and the results indicate that the two oils are of similar composition and quality. Supercritical fluid extraction using carbon dioxide was successfully verified as a potential processing method for the extraction of Marula oil from the kernels. The SFE-CO2 provided an improved yield compared to cold pressing and a quality of oil similar to cold pressed Marula oil. Additionally, after SFE-CO2 processing, the defatted Marula kernels contain high protein content, 69 wt. %, in the form of a pure white powder. Due to the favourable nutritional content the residue may be used for human consumption to create new products such as meat analogues, porridges, and shakes, or can be sold as a high protein powder. / MSc (Engineering Sciences in Chemical Engineering), North-West University, Potchefstroom Campus, 2015

Master of Science / Department of Agronomy / P. V. Vara Prasad / Grain sorghum (Sorghum bicolor L. Moench) is the fourth most important cereal crop grown throughout the semi-arid regions of the world. It is a staple food crop in Africa and Asia, while it is an important feed crop in the United States (US). More recently it is increasingly becoming important as a potential bioenergy feedstock crop around the world. The state of Kansas is the largest producer of grain sorghum in the US and contributes 40% of the total production. Drought is one of the major environmental factors limiting sorghum production in the semi-arid regions of the US, Asia and Africa. It is estimated that global crop losses due to drought stress exceed $10 billion annually. In crop production, drought stress can be classified into pre- or post-flowering. Even though the world collections of sorghum contain over 35,000 accessions, the genetic base currently used in breeding programs is very small (about 3%). Thus, it is important to identify diverse breeding lines for crop improvement. The diversity (association) panel consisting of 300 sorghum lines from all over the world was assembled for trait evaluation and association mapping. In this research these lines were grouped into the five major races (Figure 1) and 10 intermediate races of sorghum. The objectives of the research are to: (i) quantify the performance of the diversity panel under field conditions in Kansas, (ii) identify critical physiological traits affected by drought at both pre- and post-flowering stages of sorghum development, (iii) identify the most sensitive stage to drought stress during the reproductive phase of sorghum development and, (iv) test the feasibility of using a chlorophyll fluorescence assay (CVA) as a tool for identifying stay-green lines in grain sorghum during early stages of crop development. Field experiments were conducted in 2006 and 2007 in two locations in Kansas (Manhattan and Hays) under rain fed and irrigated conditions for the association panel. Objectives (iii) and (iv) were achieved with controlled environment experiments conducted in the greenhouse at the agronomy department, Kansas State University in 2006 and 2007. Results showed that there was large genetic variability among and within different races in the diversity panel for growth, physiological traits and yield components. Some genotypes showed yield stability across the different environments that were investigated. Drought significantly decreased seed number and harvest index across genotypes and races. In grain sorghum the period prior to flowering (panicle initiation) was the most sensitive stage to drought stress, in terms of its effect on seed-set, during reproductive development. A cell viability assay showed that there were significant differences in the loss of cell viability between leaf sample of stay green and non-stay green genotypes when leaf samples are collected in the morning and subjected to high respiratory demand. Therefore the chlorophyll fluorescence assay has potential as a tool for stay green trait screening at early stages of growth in grain sorghum.

This study examines the effect of ownership structure on dividend policy of 284 firms listed on the OMX Stockholm Exchange in Swedenfrom 2010-2015. Specifically, the purpose of the study is to investigate therelationship betweendifferentinvestor types and dividend policies of firms, measured as dividend yield and dividend payout ratio.Also, the study aims to predict dividend behaviours based on ownership structure which may be useful inthe future since ownership structures of listed Swedish firms havebeen changing over time, with an increased consolidation of ownership and a sharpincrease in institutional ownership. The sample consistsof 1046 observations and was gathered from Thomson Reuters’ Datastream and Eikon databases. This is the first study to examine the relationship between ownership structure and dividend policy in Sweden.The dividend policy is measured using two dependent variables; dividend payout ratio anddividend yield and a multiple regression has been used in orderto test the hypotheses whether any relationships exist between 17 different types of ownership structure used as independent variables, four additional control variables and dividend policy.The findings indicated significant positive relationships between institutional ownership and dividend yield and dividend payout, with one exception being private equity which exhibited a negative relationship with dividend yield. Furthermore, market capitalization, return on assets and price to book value are positively related to dividend payout while debt/equity ratio showed a negative relationship with dividend yield. The results contradict those of the most recent research conducted in Turkey (Al-Najjar & Kilincarsla, 2016) but adds supportin the debateto existing theories of dividends’ relevance to the value of firms developed by Gordon (1963), Lintner (1962) and Walter (1963). Limitations of the study include the geographical delimitation to Sweden which creates some constraints to wider generalization ofthe results to other geographical settings. Furthermore, the datacollected from Thomson Reuters Eikon hadmissing values, showed signs of heteroscedasticity and relevant investor variables such as family ownership were unavailable.

Thesis (MScAgric (Animal Sciences)--University of Stellenbosch, 2007. / The objective of this investigation was to determine the effect of supplemented conjugated linoleic acid (CLA) on milk production and milk composition of lactating dairy cows in production systems commonly used in South Africa. In the first of three trials, samples of 24 bulk tanks were collected to get an impression of the CLA status of milk in the Western Cape Province, South Africa. Six samples were each collected from Jersey and Holstein herds in total mixed ration (TMR)-based systems. Another six samples were each collected from Jersey and Holstein herds on pasture-based systems. An additional three samples were also collected from co-op silos. One of these came from a mixed herd on TMR, one from a Jersey herd on TMR and the third sample from a mixed herd on pasture. The CLA levels of the milk were within the range reported in literature, albeit on the low side. The mean CLA level in milk fat of cows from pasture and TMR-based systems were 10.5 and 5.45 mg/g of fatty acids, respectively. This is in agreement with trends reported in the literature with cows on pasture having higher levels of CLA in their milk than cows on TMR’s. In this study, breed had no effect on the CLA level in milk fat.