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Främmande kapital : Ur tre perspektivBengtsson, Hanna, Sjösten, Pernilla January 2009 (has links)
Idag ägs mer än tusen företag i Sverige av riskkapitalbolag. Vissa anser att riskkapitalbolagen är ute efter att göra snabba pengar, medan andra anser att de arbetar både strategiskt och långsiktigt med de ägda företagen. Ett företags finansiering kan ske på diverse sätt och de vanligaste sätten att anskaffa kapital är genom självfinansiering, krediter och tillskott från aktieägare. Thule och Kärhs är exempel på två riskkapitalbolagsägda företag som använt sig av främmande kapital på ett missgynnande sätt. Att använda sig av främmande kapital kan alltså innebära risker men även möjligheter om det används på rätt sätt. Vi tycker därför att det är intressant att undersöka dessa risker och möjligheter utifrån tre perspektiv; företag, ägande riskkapitalbolag och bank. Vi ville också ta reda på hur dessa tre perspektiv påverkas av varandra. Den kvalitativa metoden och en abduktiv ansats har använts vid utförandet av studien. Detta på grund av att vi utgått från en problemformulering och sedan pendlat mellan referensram och empiri när vi gjort våra tolkningar. Primärdata samlades in genom intervjuer, både via personliga möten och via telefon. Vi inleder referensramen med att definiera riskkapitalbolag och förklara hur de fungerar. Direkt efter får läsaren ta del av vad intervjupersonerna sagt och vår tolkning av det berörda ämnet, vilken är en struktur som resten av uppsatsen följer. Vidare tas kreditgivarna, kreditbeviljning samt kreditformer i beaktning. Därefter diskuteras hur ägarna och banken påverkar och styr företagen. I de två sista kapitlen är företagsperspektivet i fokus med dess finansiering och kapitalstruktur. Detta följs av vilka effekter skuldsättning kan innebära och i detta kapitel är hävstångseffekten en central del. Slutligen besvaras vår frågeställning och vi har bland annat kommit fram till att de tre perspektiven påverkas av varandra på många olika sätt. Exempelvis innebär det att företag får tillgång till ett kontaktnät när de ägs av ett riskkapitalbolag samt att företagen påverkas av båda ägarna och banken genom rapportkrav av nyckeltal. Vi har dessutom dragit slutsatsen att alla tre perspektiven står inför både risker och möjligheter vid användandet av främmande kapital. Tillexempel kan belåning innebära en risk för företaget då det kan förlora makten till långivaren, medan det för ägarna är en möjlighet att ta lån då det ökar det totala kapitalet vilket i sin tur ger en högre avkastning på det egna kapitalet.
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Design and analysis of iteratively decodable codes for ISI channelsDoan, Dung Ngoc 01 November 2005 (has links)
Recent advancements in iterative processing have allowed communication systems to perform close to capacity limits withmanageable complexity.For manychannels such as the AWGN and flat fading channels, codes that perform only a fraction of a dB from the capacity have been designed in the literature. In this dissertation, we will focus on the design and analysis of near-capacity achieving codes for another important class of channels, namely inter-symbol interference (ISI)channels. We propose various coding schemes such as low-density parity-check (LDPC) codes, parallel and serial concatenations for ISI channels when there is no spectral shaping used at the transmitter. The design and analysis techniques use the idea of extrinsic information transfer (EXIT) function matching and provide insights into the performance of different codes and receiver structures. We then present a coding scheme which is the concatenation of an LDPC code with a spectral shaping block code designed to be matched to the channel??s spectrum. We will discuss how to design the shaping code and the outer LDPC code. We will show that spectral shaping matched codes can be used for the parallel concatenation to achieve near capacity performance. We will also discuss the capacity of multiple antenna ISI channels. We study the effects of transmitter and receiver diversities and noisy channel state information on channel capacity.
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Exit-upplägg : En analys kring möjliga åtgärder för att minska fysiska personers användande av exit-upplägg för att undgå svensk beskattningFalk, Nadja January 2010 (has links)
Denna uppsats har som syfte att analysera problematiken kring så kallade exit-upplägg. Syftet är vidare att hitta en möjlig lösning för att minska exit-upplägg som utförs av fysiska personer. Efter EU-Domstolens dom i X och Y-fallet öppnades en möjlighet att utföra exit-upplägg. Ett exit-upplägg innebär att en person gör en un-derprisöverlåtelse till ett holdingbolag i utlandet som personen själv äger för att se-dan efter en fullständig utflyttning få sina kapitalvinster beskattade i den nya hem-viststaten. Väljs ett land med låg eller ingen beskattning på kapitalvinster och har landet ett skatteavtal med Sverige som inte ger Sverige såsom källstat en rätt att be-skatta vinster kan beskattning av andelar minskas eller helt undgås. Problematiken kring exit-upplägg ligger i att tioårsregeln i 3 kap. 19 § IL endast blir tillämplig i de fall då Sverige inte har något skatteavtal med den nya hemviststaten eller då skatteavtalet innehåller en rätt för Sverige att beskatta värdeökningar på an-delar som kan hänföras till Sverige som källstat. Utflyttningar sker dock vanligen till de länder som har ett skatteavtal som inte ger Sverige beskattningsrätt på kapitalvins-ter eller där rätten begränsas till färre än tio år. Den svenska tioårsregeln blir därmed lätt att undvika och på så sätt även mycket ineffektiv. Då utflyttningsskatter uppmärksammats av EU-Kommissionen bör Sverige invänta en läsning på EU-nivå. Under tiden regler utformas bör Sverige omförhandla skatte-avtal med de länder som är vanligast vid exit-upplägg, exempelvis Cypern och Mal-ta. Införs en rätt för Sverige såsom källstat blir det därmed svårare att undvika svensk beskattning. För att det ska bli lättare att få igenom denna ändring i skatteavtalen bör Sverige erbjuda en avräkning av skatt som tas ut i den andra staten. På så vis förlorar inte den aktuella staten något på ändringen. / The purpose of this thesis is to analyze the problems with exit-arrangements. Fur-thermore, the purpose is to find a possible solution to reduce the use of exit-arrangements for natural persons. After the judgment in the X and Y-case, it became possible to sell shares to a company that the taxable person owns in another country for the acquisition cost instead of the market value. If the taxable person then makes a change of residency, the shares can be taxed in the new resident country. If a coun-try with a low or no taxation on capital gains is chosen, or a country that has a tax treaty with Sweden that does not give Sweden a right to tax capital gains that have its source in Sweden, taxation can be avoided. The problem is that the Swedish ten-year-rule in 3:19 of the Income Tax Act is ap-plicable only if Sweden does not have a tax treaty with the other state or if the treaty includes a right for Sweden to tax capital gains that have a source in Sweden. Usual-ly the person moves to a country that has a tax treaty which gives the right to tax cap-ital gains to the new resident country or where the right for Sweden to tax is limited to less than ten years. The Swedish ten-year-rule is easy to avoid and therefore also very ineffective. Attention has been given to exit-taxes by the Commission of the EU. Sweden should wait for a harmonized solution on an EU-level. In the meantime, Sweden ought to renegotiate the tax treaties with the countries that are most common in exit-arrangements, for example, Cyprus and Malta. If a right for Sweden to tax capital gains that have a source in Sweden, it will be more difficult to avoid Swedish taxa-tion. Sweden should also offer a credit for tax that has been paid in the other country. That way the other country will not lose its own right to tax.
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Tangible and intangible sunk costs and the entry and exit of firms in Austrian manufacturingHölzl, Werner January 2003 (has links) (PDF)
The present paper provides further evidence on the importance of sunk costs as determinant of the turnover, entry, and exit of firms by studying the Austrian manufacturing industry using a 14-year panel. This study explicitly considers sunk costs related to investment in dedicated intangible assets such as investment relating to organizational and goodwill capital. The empirical results confirm the relevance of sunk costs as mobility barriers, their symmetry in respect to entry and exit and suggest that the influence of sunk costs is robust to aggregation. Sunk costs relating to capital expenditure and to organizational capital are found to be symmetric. Sunk costs relating to advertising expenditures seem to be only barriers to entry but not mobility barriers. Industry growth and profitability growth are found to be asymmetric, having a positive influence on entry and a negative on exit. Export growth is found to reduce the turnover of firms and to have a negative effect on exit suggesting that the decision to export may be associated with substantial sunk costs. (author's abstract) / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"
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Entry and exit dynamics in the Austrian manufacturing industriesHölzl, Werner, Soegner, Leopold January 2004 (has links) (PDF)
This article investigates the determinants of entry and exit in the Austrian manufacturing sector based on 1981 to 1994 data. We study the response of entry, exit and other indicators of firm dynamics to changes in average plant size, size heterogeneity, concentration, incentives and vertical integration. By applying Bayesian simulation methods we estimate random coefficient models and study the symmetry of the determinants of entry and exit. Our empirical analysis shows that entry and exit rates are driven by the same determinants. The impacts of these determinants are nearly homogeneous for both, entry rates and exits rates, respectively. Moreover, we find (i) that changes in average plant size, size heterogeneity and concentration are not symmetric with respect to entry and exit, (ii) that changes in the growth of sales is weakly symmetric and (iii) that the growth rate of employment is strongly asymmetric across industries in Austrian manufacturing. Furthermore, we infer from the data that the turnover of firms influences the changes in the number of competitors. Low entry rates go hand in hand with low net entry rates and a low turnover. (author's abstract) / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"
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Multi-edge Low-density Parity-check Coded ModulationZhang, Lei 04 January 2012 (has links)
A method for designing low-density parity-check (LDPC) codes for bandwidth-efficient high-order coded modulation is proposed. Code structure utilizes the multi-edge-type LDPC code ensemble to achieve an improved match between codeword bit protection ca- pabilities and modulation bit-channel capacities over existing LDPC coded modulation techniques. The multi-dimensional EXIT vector field for the specific multi-edge parame- terization is developed for the analysis and design of code ensembles. A multi-dimensional EXIT decoding convergence condition is derived to enable efficient optimization. Code design results in terms of ensemble thresholds and finite-length Monte-Carlo simulations indicate that the new technique improves on the state-of-the-art performance, with sig- nificantly lower design and implementation complexity.
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Multi-edge Low-density Parity-check Coded ModulationZhang, Lei 04 January 2012 (has links)
A method for designing low-density parity-check (LDPC) codes for bandwidth-efficient high-order coded modulation is proposed. Code structure utilizes the multi-edge-type LDPC code ensemble to achieve an improved match between codeword bit protection ca- pabilities and modulation bit-channel capacities over existing LDPC coded modulation techniques. The multi-dimensional EXIT vector field for the specific multi-edge parame- terization is developed for the analysis and design of code ensembles. A multi-dimensional EXIT decoding convergence condition is derived to enable efficient optimization. Code design results in terms of ensemble thresholds and finite-length Monte-Carlo simulations indicate that the new technique improves on the state-of-the-art performance, with sig- nificantly lower design and implementation complexity.
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HS ELD students : analysis on preparation for the math CAHSEELomeli, Jose Luis. January 1900 (has links)
Thesis (M.A.)--California State University Channel Islands, 2006. / Chairperson of the Supervisory Committee: Professor Lillian Castaneda. Submitted in partial fulfillment of the requirements for the degree of Masters of Arts in Principal Leadership Specialization. Title from PDF t.p. (viewed August 26, 2008).
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Does the age at which an English language learner is re-designated impact their success rate on state tests such as the CAHSEE in ELA?Schieferle, Darby. January 1900 (has links)
Thesis (M.A.)--California State University Channel Islands, 2006. / Chairperson of the Supervisory Committee: Professor Lillian Castaneda. Submitted in partial fulfillment of the requirements for the degree of Masters of Arts in Education. Title from PDF t.p. (viewed August 26, 2008).
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A Retrospective Study of the Demographics and Wound Characteristics of Firearm Related Fatalities in Lane County, 1986-2007Rexford, Annie Khrystin, 1983- 12 1900 (has links)
xii, 57 p. : ill. (some col.) A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / The goals of this study are to assess a) the role of mass and velocity on the size of
entrance wounds, b) the presence or absence and types of exit wounds, and c) the role of
gender in choosing to commit suicide with a firearm.
The results of an ANOVA revealed that the combination of a bullet’s mass and
the relative velocity of the weapon is the most significant factor in entrance wound size.
A logistic regression found that mass plays the most significant role in the presence of an
exit wound. When considered separately, velocity had a more significant effect on exit
type than did mass.
The study also found that being male increases the odds that a firearm will be
chosen to commit suicide. Handguns and the head were the most common choices for
weapon and wound location, respectively, in both firearm suicides and homicides. / Committee in charge: Dr. John Lukacs, Chairperson;
Dr. Andrew Karduna, Member;
Dr. David Levin, Member
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