>Magister Scientiae - MSc / This study is part of the current investigation of the Elandsfontein aquifer to assist with the management of the system and to ensure the protection of the associated Langebaan Lagoon RAMSAR listed site. The Elandsfontein aquifer unit is situated adjacent to the Langebaan Road aquifer in the Lower Berg River Region. The aquifer unit is bordered by the Langebaan Lagoon (west), possible boundary toward the Langebaan Road aquifer (north), the Groen River bedrock high (southeast) and the Darling batholith (south).

Addressing environmental issues has been a top priority in recent years all over the world. There are several options on how to address this problem also from a financial perspective. Therefore, the purpose of this study was to investigate how green bond issuance announcement impacts publicly traded stock prices through cumulative abnormal return (CAR) perspective. We focused our scope only to the Swedish market. Theory is based on three different models: the capital asset pricing model (CAPM), the market model, and the market return model, which all have been applied also in previous studies. Several previous studies indicate that there is a positive CAR around the bond announcement date. In our case findings based on all three models were, that there in fact is evidence of CAR in the Swedish market at different event windows. The strongest relationships were found in event windows five days before the event date and up to twenty days post-event date. These results could be an indicator, that investors are valuating green bonds positively, and therefore for companies it might be beneficial to engage in more environmentally friendly project financing.

Abstract Title: Announcing an acquisition, what happens next? Authors: Carl Åkesson and Hasan Beslija Supervisor: Katarina Eriksson Background: Sweden is the Nordic region's largest market for M&A. Despite this, there is a limited research base for how acquisitions affect abnormal returns on the Swedish stock market. There is no consensus among previous studies on how the bidding firms are affected in the short run by acquisitions or how the abnormal return is affected by firm size and form of acquisition. Purpose: The purpose of the study is to investigate whether there is an abnormal return in the short run for bidding firms when announcing an acquisition and how it differs between different company sizes and different forms of acquisitions. Methodology: The study is of quantitative nature and has been conducted with a deductive approach. The research questions of this study have been chosen with previous studies in mind. Furthermore, the study has used two methods; event study and regression analysis. In addition to these methods, tests have been carried out with the aim of statistically ensuring the abnormal return that has arisen in the event study. Results: The results of the study show that an announcement of an acquisition leads to a negative average cumulative abnormal return in the short run. For the different company sizes, large cap has the most negative average cumulative abnormal return. For the various acquisition forms, horizontal acquisitions have the most negative average cumulative abnormal return. The study's regression analysis show that company size and acquisition form have a low degree of explanation for the emergence of abnormal returns. Keywords: Abnormal returns, acquisitions, event study, cumulative abnormal return

This study examines the role of mother's health and socioeconomic status on daughter's self-rated health using data spanning three decades from the National Longitudinal Surveys of Mature Women and Young Women (N = 1,848 matched mother-daughter pairs; 1,201 White and 647 African American). Using nested growth curve models, we investigated whether mother's self-rated health affected the daughter's self-rated health and whether socioeconomic status mediated this relationship. Mother's health significantly influenced daughters' self-rated health, but the findings were mediated by mother's socioeconomic status. African American daughters reported lower self-rated health and experienced more decline over time compared with White daughters, accounting for mother's and daughter's covariates. Our findings reveal maternal health and resources as a significant predictor of daughters' self-rated health and confirm the role of socioeconomic status and racial disparities over time.

Motivated by a study of social spider behavior, we discuss the distribution of the distances from all the events in a spatial point pattern to a point of reference that has a known location at a given moment of time. The distribution depends on both the shape of the region and the location of the point of reference. The empirical CDF is used to describe the distribution of the distances and compare it to the CDF derived under complete spatial randomness. Empirical distributions are then compared through time focusing on the case in which the point of reference changes with time.

No description available.

Indiana University-Purdue University Indianapolis (IUPUI) / Observational studies and clinical trials with time-to-event data frequently involve multiple event types, known as competing risks. The cumulative incidence function (CIF) is a particularly useful parameter as it explicitly quantifies clinical prognosis. Common issues in competing risks data analysis on the CIF include interval censoring, missing event types, and left truncation. Interval censoring occurs when the event time is not observed but is only known to lie between two observation times, such as clinic visits. Left truncation, also known as delayed entry, is the phenomenon where certain participants enter the study after the onset of disease under study. These individuals with an event prior to their potential study entry time are not included in the analysis and this can induce selection bias. In order to address unmet needs in appropriate methods and software for competing risks data analysis, this thesis focuses the following development of application and methods. First, we develop a convenient and exible tool, the R package intccr, that performs semiparametric regression analysis on the CIF for interval-censored competing risks data. Second, we adopt the augmented inverse probability weighting method to deal with both interval censoring and missing event types. We show that the resulting estimates are consistent and double robust. We illustrate this method using data from the East-African International Epidemiology Databases to Evaluate AIDS (IeDEA EA) where a significant portion of the event types is missing. Last, we develop an estimation method for semiparametric analysis on the CIF for competing risks data subject to both interval censoring and left truncation. This method is applied to the Indianapolis-Ibadan Dementia Project to identify prognostic factors of dementia in elder adults. Overall, the methods developed here are incorporated in the R package intccr. / 2021-05-06

No description available.

The aim of this study is to examine how profit warnings affect company valuation on companies listed on the Stockholm Stock Exchange and what factors contribute to the valuation effects. Using an event study approach, we compute the cumulative abnormal returns following profit warnings between 2016 and 2022. Our findings show that companies issuing profit warnings experience substantial abnormal returns at the time of the announcement but that there are no cumulative abnormal returns the days after the issuance of profit warnings. Company-specific characteristics and properties of profit warnings do not explain the abnormal returns. However, the state of the business cycle does. The study provides insight into what factors mediate the market participants’ reaction to profit warnings. Also, it considers how current market contingencies impact abnormal returns the days after profit warnings are released. A key limitation is that the study does not consider the financial information disclosed in the profit warnings in any quantitative detail. The results of the study are partly inconsistent with previous studies on profit warnings regarding the effects of company-specific characteristics, properties of profit warnings, and abnormal returns after the issuance of profit warnings.

En efterfrågan efter mer informativa revisionsberättelser har över tid växt fram, vilketledde till att The International Auditing and Assurance Standards Board (IAASB) år 2015introducerade ISA 701: “Communicating Key Audit Matters in the Independent Auditor’sReport”. ISA 701 är en ny standard som innebär att revisorer ska inkludera områden somde finner vara av särskild betydelse i företaget under revision i sin revisionsberättelse,vilket började gälla på finansiella rapporter för noterade bolag avseende perioder somslutade på, eller efter, 15:e december år 2016. Med införandet av dessa Key Audit Matters(KAM) är IAASB:s förhoppning att revisionens värde för användarna av de finansiellarapporterna ska öka genom att mer företagsspecifik information görs tillgänglig irevisionsberättelsen samtidigt som revisionsprocessen i sig blir mer transparant.Tidigare forskning kring KAM har visat på blandade resultat. Många experimentellastudier har pekat mot att KAM har viss effekt på investerarna och deras beslut, medan deflesta arkivstudierna som gjorts på KAM, eller utökade revisionsberättelser i andraformer, sällan har visat på några märkbara effekter av KAM. Vi vill bredda forskningentill den svenska aktiemarknaden och undersökte därför vilka effekter KAM hade påStockholmsbörsen.Utifrån tidigare forskning och teorier som effektiv marknadshypotes, agentteorin ochinformationsasymmetri formulerade vi tre hypoteser att testa. Den första kollar påförstagångseffekten av KAM år 2016 och ifall antalet KAM spelade någon roll. Den andrahypotesen handlar om ifall förändring i ett företags KAM leder till någon reaktion påmarknaden och den tredje hypotesen undersöker ifall det finns något samband mellanöveravkastning och vilken lista bolag är noterade på.I syftet att se hur investerarna påverkas av KAM utförde vi en händelsestudie för attundersöka marknadens reaktion på publiceringen av revisionsberättelsen. I linje medmånga liknande studier använde vi Cumulative Abnormal Returns (CAR) för att mätainvesterarnas reaktion i form av överavkastning under perioden runt omkringpubliceringen av årsredovisningen och revisionsberättelsen.Den här studiens resultat finner inget stöd för att det fanns någon förstagångseffekt avKAM år 2016 utifrån antalet KAM, men finner däremot svagt stöd för att antalet KAMhade effekt CAR år 2021. Vidare fann studien inget stöd för att en förändring i KAM hadenågon effekt och heller inte något stöd för att listan som ett företag är noterat på hadenågot samband med överavkastning.