Syfte: Inom revisionsbranschen har rapporteringen om ett företags fortlevnad under en lång tid varit ett omtvistat ämne. Detta specifikt till följd av revisorsskandaler, då företag gått i konkurs utan att ha erhållit en fortlevnadsvarning från sin revisor. I redovisningslitteraturen finns det motstridiga argument kring huruvida revisorer anses oberoende eller inte utifrån deras benägenhet att utfärda fortlevnadsvarningar och de finansiella incitament som finns. Uppsatsens syfte är att: Undersöka om det finns något samband mellan utfärdandet av fortlevnadsvarningar och ekonomisk förlust för revisionsbyrån. Metod: Utifrån tidigare forskning har forskningsbara hypoteser deducerats fram, vilka sedan undersökts empiriskt. En kvantitativ metod har använts för att samla in data från svenska företags årsredovisningar åren 2011-2014. Dessa data har sedan testats och analyserats i ett statistikprogram och har därefter redovisats i olika tabeller. Resultat & slutsats: Denna studie har funnit bevis för den självuppfyllande profetian, vilket indikerar att revisorer drar sig för att utfärda fortlevnadsvarningar. Gällande undersökningen kring ekonomiska incitament som hot mot revisorns oberoende, ger denna studie bevis på att storleken på NAS-arvodet kan utgöra ett potentiellt hot. Studiens resultat visar även att det inte finns någon kvalitetsskillnad mellan Big 4 och icke Big 4 revisorer när det gäller utfärdandet av fortlevnadsvarningar. Förslag till fortsatt forskning: Förslag till fortsatt forskning är att kombinera de finansiella faktorerna med de icke finansiella faktorerna för att studera revisorers oberoende. En tredje begränsning med uppsatsen är att vi utgått från revisorns perspektiv, vilket innebär att förslag till fortsatt forskning är att byta till företagens perspektiv eller kombinera dessa. Uppsatsens bidrag: Denna uppsats har bidragit med mer kunskap kring den självuppfyllande profetian, ekonomiska incitaments påverkan på revisorns oberoende. Uppsatsen har även bidragit med ytterligare förståelse kring hur problematiskt det kan vara att utfärda en fortlevnadsvarning. / Aim: The reporting of an organizations going concern has been center for debate during a long period of time. This is mainly due to auditing scandals where organizations have gone bankrupt without a modified going concern opinion from their auditor. In accounting literature there are conflicting claims about whether auditors are considered independent or not due to their tendency to issue a going concern modified opinion and the influence financial incentives have on auditor independence. The aim of this essay is to: Examine if there is a relation between the tendency to issue a going concern modified opinion and the financial loss for the audit firm. Method: From previous research hypotheses have been deduced. These hypotheses have then empirically been studied. A quantitative method was used to gather data from Swedish companies’ annual reports from the year 2011-2014. After gathering the data, it was tested and analyzed with a stats program and then presented in different tables. Result & Conclusions: This study has found evidence of the self-fulfilling prophecy, which indicates that the auditor withdraws from issuing a going concern modified opinion. Regarding the financial incentives as threats of audit independence, this study gives evidence that the size of Non-audit service fees poses a potential threat. The results of the study also show that there is no significant difference in quality between Big 4 and Non-Big 4 auditors regarding the issuance of going concern modified opinions. Suggestions for future research: In this study the financial factors have been taken into account, a combination of both the financial and non-financial factors is the suggestion for future research. A third limitation of this study is that is based upon the auditors’ perspective, therefore a study based solely on the companies' perspective or a combination of both is our suggestion for future research. Contribution of the thesis: This thesis contributes with more knowledge to the accounting literature. The study has provided more knowledge about the self-fulfilling prophecy, financial incentives on audit independence and the quality among Big 4 and non-Big 4 audit firms. This thesis has also contributed to further understanding of how problematic it can be for an auditor to issue a going concern modified opinion.

There are three types of agreements regarding lawyers’ fee: fixed fee, hourly fee and the contingent fee. Contingent fee agreements have distinguishing features from other types of fee – lawyer is compensated or his remuneration is paid only if the case is won, and the client doesn’t have to pay a fee beforehand. Agreements are most popular in United States. Europe doesn’t use them uniformly, some countries allow agreements, some – prohibit. Lithuania a few years ago adopted rule allowing contingent fee agreements but still there are no further legislation or clarification. Mainly contingent fee agreements are used when there is no risk of non-recovery. The main advantage making agreements desirable that client doesn’t have to pay till the case is closed. This model allows people who cannot afford hourly or fixed fee get access to justice. On the other hand lawyer on a contingency fee agreement has more motivation to do everything what is needed to obtain judgment. Contingent fee agreements can be divided in several types: hourly contingency fee, when the lawyer is paid for total hours spent on the case only if the case was successful; then, when the lawyer is paid an hourly rate and bonus premium, based upon litigation; and mostly known type is based upon percentage of the plaintiff’s recovery. The main aim of this research is to validate or disclaim the hypothesis that contingent fee agreements violate ethical principles governing lawyers’ practice. First part of this... [to full text] / Pacta de quota litis terminas daugiausiai naudojamas Europoje; minimas Europos Sąjungos advokatų profesinės etikos kodekse. Kitos šalys naudoja skirtingus terminus, populiariausias contingent fee, naudojamas Jungtinėse Amerikos Valstijose, taip pat conditional fee Didžiojoje Britanijoje. Contingent fee terminas Lietuvoje naudojamas kaip sąlyginis atlyginimas, dėl kurio advokatas ir klientas susitaria iš anksto. Tai viena iš susitarimo tarp advokato ir kliento rūšių, kuri apibrėžia ne tik kliento atstovavimo sąlygas, bet kartu ir numato advokato atlyginimą, kuris tiesiogiai priklauso nuo bylos baigties. Taip pat yra žinomi valandinio užmokesčio ar fiksuoto užmokesčio susitarimai. Sąlyginio atlyginimo susitarimai gali nustatyti atlyginimo dydį valandine išraiška, kai sąlyginis atlyginimas skaičiuojamas nuo išdirbtų valandų; taip pat gali būti mokamas valandinis sąlyginis atlyginimas su premija ir populiariausias, kai sąlyginis atlyginimas nustatomas procentine išraiška ir skaičiuojamas nuo priteistos sumos. Sąlyginio atlyginimo susitarimai labiausiai paplitę Jungtinėse Amerikos Valstijose, tuo tarpu Europoje jie naudojami labai retai, daugelyje šalių jie draudžiami. Šių susitarimų išskirtinumas yra tas, kad klientui nereikia mokėti už advokato paslaugas iš anksto. Su advokatu atsiskaitoma tik jei byla laimima. Tai lemia šių susitarimų populiarumą ne tik Jungtinėse Amerikos Valstijose, bet ir kitose šalyse, nes sudaro galimybe nepasiturintiems asmenims apginti savo teises ir... [toliau žr. visą tekstą]

Denna studie undersöker hur intäktsdiversifiering i europeiska bankverksamheter påverkar aktiemarknadens värdering och variationen i aktiepriserna. Europeiska bankverksamheter har sedan mitten på 1980-talet expanderat mot tjänster som genererar provisionsintäkter eftersom den historiska uppfattningen har varit att intäktsdiversifiering kan minska variationen i vinsterna och potentiellt öka marknadsvärderingen. Effekten av intäktsdiversifiering studeras utifrån OLS-regressioner på paneldata som består av 103 bankverksamheter från 24 länder i Europa för perioden 2005 till 2012. Aktiemarknadens värdering och variationen i aktiepriserna beräknas utifrån data över aktiepriser och från bankverksamheternas finansiella rapporter. Denna studie undersöker även resultatens ekonomiska signifikans för att utvärdera implikationerna av intäktsdiversifiering. Resultaten visar att en högre intäktsdiversifiering har en positiv effekt på aktiemarknadens värdering. Mer specifikt förväntar sig aktiemarknaden att ‘fee income’ har en positiv effekt på framtida vinster. Däremot innebär en högre intäktsdiversifiering även en högre variation i aktiepriserna. Den ekonomiska signifikansen visar att en högre intäktsdiversifiering främst har en betydande effekt på aktiemarknadens värdering och aktiens systematiska risk. Avslutningsvis framstår effekterna även ha varierat under tidsperioden och var större under den senaste finanskrisen. / This study examines how revenue diversification in European banks affects the market valuation and the total, systematic and idiosyncratic risk. Since the mid-1980s, European banks have expanded towards non-interest income generating activities. The historical perception has been that revenue diversification can reduce overall earnings volatility, potentially contributing to an increased market valuation. The effects of revenue diversification are examined by using OLS regressions on panel data containing 103 banks from 24 European countries over the period of 2005 to 2012. Stock market data and the data from banks’ financial statements are used to calculate market valuations and total, systematic and idiosyncratic risk. Additionally, this study examines the economic significance of the results in order to evaluate the implications of revenue diversification. The study finds a positive effect of revenue diversification on a bank’s market value. Specifically, the findings suggest that the stock market anticipates that ‘fee income’ can improve future profits. However, a higher degree of revenue diversification increases all types of risks. The economic significance reveals that revenue diversification has a considerable effect on the market valuation and the systematic risk. At last, the effects of revenue diversification appear to have varied over time and were greater during the recent financial crisis.

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美國在2001年10月爆發了安達信(Anderson)-安隆（Enron）案，對整個企業界造成極大的衝擊，提供非審計服務究竟是否會影響財務報表品質引起廣泛討論。 因證期會於民國九十二年一月三十日新修正「證券發行人財務報告編製準則」第二十二條，使得資訊相對過往較易取得，雖因研究限制使得樣本不具良好代表性，但在某種程度上仍能提供一定的參考價值，故本研究擬仿效Frankel et al. (2002)之研究，探討在台灣會計師提供非審計服務及審計服務是否會對財務報表品質造成影響；本研究以Threshold（公司實際每股盈餘-分析師預測每股盈餘）及裁量性應計(discretionary accrual)做為財務報表品質之代理變數。 本研究發現上市公司並未因審計公費及非審計公費較高而有進行盈餘管理，但上櫃公司卻會因審計公費及非審計公費較高而進行盈餘管理。 / The collapse of Enron and the conflict of interest surrounding their auditors Arthur Anderson, particularly the effect non-audit fees on the quality of the audited financial statements, have resulted in numerous changes to the regulations effectively limiting the level of non-audit service accounting firms can offer to their clients. The Taiwan SEC enacted new regulations forcing public companies that meet certain criteria, to disclose the level of audit and non-audit fees paid to accounting firms. This resulted in the availability of information that was previously unobtainable. However, concerns still remain, as research is restricted because the number of companies reporting represents a small percentage of the companies in Taiwan. Nonetheless, this research hopes to use the data from the reporting companies to examine the relationship between the quality of the financial statement and the level of fees paid to accounting firms. We intent to use an adaptation of the Frankel et al. (2002) model to study the companies in Taiwan. Using data provided by the companies we intend to demonstrate a causal relationship between the level of non-audit fees and the quality of the accounting statement. We used Threshold and discretionary accrual to represent the quality of the financial statement. We found that for the companies listed on the TAIEX there was no relationship between the quality of the financial statements and the level of audit and non-audit fees; however for companies trading on the OTC market we found there was a causal relationship.

Transportation funding is critical to maintaining the assets that provide mobility for the movement of Georgia's people and goods. Currently, most of Georgia's transportation revenue is provided by the motor fuel tax. Inflation and recent increases in fuel economy have decreased fuel tax revenue in Georgia and weakened the Georgia Department of Transportation's (GDOT)'s ability to maintain and expand its transportation network. This thesis synthesizes factors from literature that affect motor fuel tax revenue. These include demographic, economic, technological, and environmental forces that influence travel behavior and vehicle fuel economy. A model was then created that incorporated these factors to model GDOT's 2009 fuel tax revenue and then project revenue in 2020 and 2030. The model uses an input/output structure that segments the fleet into personal, freight, and transit categories. User inputs, historical data, and projections are linked via relationships and feedback loops to project travel and fuel tax revenue forward. Because a near-infinite number of scenarios exist, conservative and aggressive scenarios were created for 2020 and 2030 scenarios that output revenue on an absolute, per-mile, and per-capita basis for comparison with more recent revenues. The model outputs predict marginal declines in revenue by 2020 and significant declines by 2030. In response to these declines, the thesis evaluates methods of increasing transportation revenue. These methods include increasing the fuel tax, incorporating a VMT-fee, and widespread tolling measures. After evaluation, a policy recommendation is provided for how to best implement revenue strategies.

Sedan 1907 har det upplåtits fastigheter med tomträtt i Sverige. Tomträtt innebär att kommun eller stat, mot en årlig avgäld, upplåter mark med nyttjanderätt till en tomträttshavare med avgäldsperioder om minst tio år. Att inneha bebyggelse på mark som är förenad med tomträtt kan, beroende på tomträttshavarens ekonomiska situation, leda till ett skräckscenario. En kombination av kraftiga markvärdestegringar och långa avgäldsperioder resulterar i chockhöjda tomträttsavgälder för tomträttshavare, på nivåer som är svåra att förutspå. I nuläget saknas tydliga direktiv för hur bestämmelse av tomträttsavgälden vid ny avgäldsperiod ska ske och trots förslag om att förenkla regleringen har inga ändringar gjorts.  Syftet med denna uppsats är att undersöka rättsläget kring bestämmelse av tomträttsavgälden inför ny avgäldsperiod och på så sätt försöka bringa klarhet i den problematik som finns. Genom en rättsvetenskaplig metod där rättskällor har tolkats, utretts och analyserats kunde vi dra slutsatsen att den reglering som finns kring bestämmande av tomträttsavgälden bör ses över. Tills vidare får denna undersökning och de riktlinjer vi funnit ses som en vägledning.

Inledning: Den tillverkande industrin har länge ansetts ha en stor tillväxtpotential i en ökad tjänstefiering och att det finns en stor outnyttjad potential i tjänster för sålda produkter som kan realiseras genom intäkter för tidigare upplevda gratistjänster genom en process som kallas Free-to-Fee. Syfte: Studiens syfte är att undersöka tillverkande företags interna förståelse av de processer som leder till behovet att genomföra en Free-to-Fee-transition, det vill säga hur man idag hanterar tjänster relativt produkter i sina erbjudanden till marknaden och varför man i vissa fall inkluderar tjänster “gratis” i samband med en produktförsäljning.  Metod: Vi har valt att göra en studie med semistrukturerade intervjuer av medarbetare på större tillverkande företag med erfarenhet av att arbeta med tjänsteaffären. Medarbetarna återfinns på stora tillverkande företag inom olika branscher. Slutsats: Vi har funnit att intresset för tjänstefiering och Free-to-Fee övergångar är mycket begränsade, även om det finns en förståelse för värdet av en mer tjänstedominant affärslogik. Industrin är starkt påverkad av traditioner och institutioner där tjänster betraktas som adderat värde i en produktdominant affärslogik. / Introduction: The manufacturing industry has been perceived to have a substantial growth potential in an increased servitization. There is a great untapped potential for service for already sold products that can be realized through a transition from free services to paid service, in a process called Free-to-Fee. Purpose: The purpose with the study is to investigate manufacturing companies internal understanding of the processes that leads to the need to conduct a Free-to-Fee transition, how they today manage service related to products in their offerings to the market and why services are included for free, in some cases with a product sales.  Method: We have chosen to conduct a study of semi structured interviews with professionals working in manufacturing companies, with experience from the service business. The professionals are found at major manufacturing companies representing different branches.  Conclusion: We found that the interest for servitization and Free-to-Fee transitions is very limited, even if there is an understanding of the value of a more Service-Dominant Logic. The industry is strongly affected by traditions and service is perceived as an added value in a Product-Dominant Logic.

Objectives: Managed care organizations reduce healthcare costs and may improve patient health outcomes by encouraging better control of prevalent chronic diseases. The purpose of this study was to determine whether changing from a fee-for-service program to a capitated managed care program improved medication adherence for Medicaid patients in Kentucky with hypertension, hypercholesterolemia, or type 2 diabetes. Methods: We conducted a quasi-experimental study of patients enrolled in Kentucky Medicaid to evaluate the impact of transitioning to capitated managed care in November 2011. Medication adherence was measured using the proportion of days covered (PDC) method. Multivariable analyses measured the adjusted differences in adherence as a result of the implementation of capitated managed care. Results: Adjusted analyses indicate an average decrease in PDC by about 17-22 days of therapy coverage in the post-policy time period. However, no significant difference in adherence rate changes between the treatment and control populations were observed. Conclusions: Results indicate clinically inconclusive evidence regarding the immediate effect of the implementation of Medicaid managed care in Kentucky on medication adherence rates in patients with prevalent chronic diseases. There is a need to address the decline in average adherence rates, and the efficacy of Medicaid managed care based on medication adherence.

<p>The review of the ethical funds literature shows the significant growth of the Socially Responsible Investments (SRI) in the last few decades. The increase of the interest towards SRI indicates that ethical issues have become more essential for the investors. However the number of surveys reveals that financial performance remains of an important concern for the socially responsible investors. Therefore the benchmark analysis of the expected returns and management fees of the ethical mutual funds is chosen as a topic for this thesis research. The risk-adjusted measures are used to analyze and compare the performance of the ethical and non-ethical mutual funds in United Kingdom. The analysis does not indicate the significant difference in the expected returns between the two groups of funds. However this study concludes that on average ethical funds charge higher management fees. Thus investing in ethical funds is more costly but gives about the same returns as investing in conventional funds.</p>