This thesis investigates pricing-performance of two recently developed multifactor asset-pricing models with the implementation of dual-betas dependent upon prevailing market-conditions. The models included in the study are the Fama and French five-factor model and the Q-factor model by Hou, Xue and Zhang. We test the models on cross-sectional Swedish stock-market data between 2003 and 2015 from the Large-, Mid- and Small Cap-lists and their respective precursors. The models are tested in their ability to explain portfolios sorted on firm beta-values, on a twelve-year period as well as a six-year period characterized by changing market directions and high market volatility.  In our study, we support the presence of changing risk-return relationship in up and down market states by estimating separate market betas with the risk-free rate as threshold. However, we do not find the isolated and volatile period to give rise to a larger difference in the up and down market betas. We consistently find the models to have a decreasing explanatory power on the portfolios of firms with lower beta values. We also find the largest difference in the up and down market betas occurring in the low beta portfolios, suggesting that this is causing measurement problems in the models. While making the models conditional, the measurement problem with the static beta seems to be reduced for the portfolios where the difference between up and down betas differ most. In the applied context, we conclude the conditional dual beta adds explanatory power in the models when the market beta differs in up and down market states.  The insights of this thesis support the method of making the market-beta conditional as suggested by Pettengill, Sundaram & Mathur (Pettengill, et al., 1995), in new multifactor models.

Personlighet är per definition relativt stabila mönster av tankar, känslor och beteenden men det finns även klara belägg för att personlighet kan ändras under hela livsloppet. Exakt hur stabil personligheten är och vilka förändringar som sker hos äldre individer är däremot inte klarlagt. Mognadsprincipen säger att förändring i personlighetsdrag med ökad ålder speglar en funktionell mognad. Nyligen har det föreslagits att sådan mognad i personlighet hos de äldsta individerna skiljer sig från den förändring som sker hos unga vuxna och i medelåldern. Den föreliggande uppsatsen hade två syften. Det första var att undersöka rangordningsstabiliteten i personlighet hos äldre och det andra var att undersöka medelvärdesförändring i personlighetsdrag hos äldre utifrån mognadsprincipen. En longitudinell design användes i ett material av 341 individer mellan åldrarna 60–78 år vid baslinjemätning, över en tidsperiod av 12 år. Personlighet mättes med hjälp av femfaktormodellen (The Big Five). Resultaten visade att: (1) rangordningsstabiliteten var moderat till hög i alla fem personlighetsdrag, (2) Conscientiousness och Extraversion minskade för hela gruppen medan Agreeableness och Openness endast minskade för de yngre deltagarna, (3) Neuroticism visade en icke-signifikant trend av att öka hos de äldsta individerna. Uppsatsens resultat ger stöd för att personlighet är relativt stabil även bland äldre. De förändringar i personlighet som sker verkar skilja sig från trenderna som tidigare påvisats hos unga vuxna och i medelåldern och därmed spegla en annorlunda mognad. / Personality is by definition relatively stable patterns of thoughts, feelings and behaviour but there is also clear evidence that personality can change during the entire life span. Exactly how stable personality is and what kind of changes occur in the elderly, however, is not clear. The maturity principle states that change in personality traits with increased age reflects a functional maturity. Recently it has been proposed that such maturation of personality among the oldest individuals is different from the changes that happen in young adults and in middle age. The current study had two purposes. The first was to examine the rank-order stability of personality in the elderly and the second was to examine mean level change in personality based on the maturity principle. A longitudinal design was used in a sample of 341 individuals between the ages of 60-78 at baseline, over a time period of 12 years. Personality was measured using the five-factor model (The Big Five). The results showed that: (1) the rank-order stability was moderate to high in all five personality traits, (2) Conscientiousness and Extraversion decreased in the entire sample while Agreeableness and Openness decreased only in the younger participants, (3) Neuroticism showed a non-significant trend of increasing in the oldest participants. The results of the thesis support the notion that personality is relatively stable even among the elderly. The changes in personality that do occur seem to deviate from the trends that have been established in young adulthood and middle age and thereby reflect a different maturation.

Det finns individuella skillnader i hur vi påverkas av stress och ett sätt att identifiera skillnaderna är att undersöka hur personlighetsdrag predicerar upplevd stress. Detta kan tillämpas vid rekrytering till yrken med särskilda krav på stresstålighet. Lazarus transaktionsmodell är ledande inom stressforskning och inom personlighetsteorier representerar femfaktormodellens (FFM) neuroticism, extraversion, öppenhet, samstämmighet och samvetsgrannhet de grundläggande personlighetsdragen. Enligt tidigare forskning utgör neuroticism en särskild sårbarhet för stress. Tre hypoteser prövades och undersökningens syftet var att predicera hur personligheten påverkar benägenheten att uppleva stress utifrån FFM, på dimensions- och facettnivå, samt att undersöka skillnader i upplevd stress beroende på kön. Etthundratolv studenter svarade på en enkät innehållande NEO-PI-R som mäter personlighetsdimensionerna samt Perceived Stress Scale (PSS) som mäter upplevd stress. Korrelationsanalyser, t-test och hierarkiska multipla regressioner gjordes. Hypoteserna om neuroticism och stress får stöd i resultatet men inte hypotesen om kön och stress. Oväntade resultat beträffande andra personlighetsdimensioner framkommer och möjliga orsaker till detta diskuteras.

Föreliggande uppsats avser belysa relationen mellan stress och personlighet, detta undersöktes ur ett individorienterat perspektiv som baserades på personlighetsprofiler. Data baserades på en enkätundersökning som mätte personlighet utifrån femfaktormodellen och självupplevd stress. 89 medarbetare på ett svenskt företag deltog i studien, 43 män och 46 kvinnor mellan åldrarna 22 och 66 år. För att klassificera olika personlighetsprofiler genomfördes en klusteranalys. För att sedan undersöka relationen mellan personlighetsprofilerna och upplevd stress jämfördes graden av upplevd stress mellan profilerna. Resultatet visade på att det finns skillnader mellan personlighetsprofilerna avseende graden av upplevd stress. Individer med lägst värden inom extraversion och något lägre värden inom öppenhet i förhållande till de andra dragen och personlighetsprofilerna upplevde högre grad stress. Individer som tillhör personlighetsprofilen med högst värden inom samtliga dimensioner i femfaktormodellen upplevde låg stress. / This paper is intended to describe the relationship between stress and personality, this is examined from an individual-oriented perspective based on personality profiles. The data was based on a questionnaire that measured personality based on the five factor model and self-perceived stress. 89 employees of a Swedish company participated in the study, 43 men and 46 women between the ages of 22 and 66 years. A cluster analysis was used to classify different personality profiles. To later examine the relationship between personality profiles and perceived stress the degree of perceived stress was compared between the profiles. The result showed that there are differences between the personality profiles regarding the level of perceived stress. Individuals with the lowest values in extraversion and slightly lower values of openness in relation to other features and personality profiles, experienced higher levels of stress. Individuals belonging to the personality profile with the highest values in all dimensions of the five factor model experienced low levels of stress.

Att undersöka ledarens påverkan på privat och offentligt anställdas motivation är aktuellt med tanke på den pågående diskussionen inom svensk politik rörande privatiseringen av offentliga tjänster. Dessutom leder världens ökande globalisering, organisationers utveckling och individens förändrade arbetskultur till att uppfattningen om ledarskap och motivation är i ständig förändring. Tidigare forskning har präglats av ett stort fokus på själva ledaren, men har på senare år riktat större uppmärksamhet mot följderna av ledarskapet. Det är även utgångspunkten i denna studie, vars syfte är att förklara hur ekonomers motivation påverkas av ledarskapsstil och ledarens personlighet, modererat av sektor. Studien har ett deduktivt förhållningssätt och undersöker kvantitativt hypoteser kring ledarskapsstil, personlighet och motivation genom en enkätundersökning riktad till ekonomer. MätinstrumentenMultifactor Leadership Questionnaire, Ten-Item Personality Inventory och Work Extrinsic and Intrinsic Motivation Scale användes för att utforma enkäten och mäta de tre huvudkomponenterna. Studien undersökte även faktorerna kön, ålder, arbetslivserfarenhet och sektortillhörighet. Resultaten av studien bekräftar tidigare forskning genom att påvisa ett starkt signifikant samband mellan såväl transformativ ledarskapsstil och inre motivation, som transaktionell ledarskapsstil och yttre motivation. Vidare fann studien ett signifikant positivt samband mellan egenskaperna Sympatiskhet, Öppenhet och Extraversion och inre motivation samt mellan egenskaperna Samvetsgrannhet och Neuroticism och yttre motivation. Studien kunde däremot inte bekräfta den effekt som sektortillhörighet väntades ha på sambanden mellan ledarskap och motivation, eftersom den modererande effekten antingen var obefintlig eller motsatt det förväntade. Det finns därmed ett behov av mer forskning på området ledarskap med fokus på sektorns effekt på den anställdas motivation. / Investigating leaders’ influence on private and public employee motivation is relevant given the ongoing discussion within Swedish politics regarding the privatization of public services. Furthermore, the world's increasing globalization, the development of organizations and the individual's changed work culture cause the perception of leadership and motivation being in constant change. Previous research has been characterized by focusing on leaders, but has in recent years focused more on the consequences of leadership. Consequently, the purpose of this study is to explain how leadership style and the leader’s personality affects economists' motivation, moderated by sector. The study has a deductive approach and quantitatively examines hypotheses about leadership style, personality and motivation through a questionnaire directed towards economists. The measuring instruments Multifactor Leadership Questionnaire, Ten-Item Personality Traits and Work Extrinsic and Intrinsic Motivation Scale were used to design the survey and to measure the main components. The study also examined gender, age, work experience and sector affiliation. The results of the study confirm previous research by demonstrating a significant relationship between transformative leadership and internal motivation, and between transactional leadership and external motivation. Furthermore, the study found a positive correlation between the traits Openness, Agreeableness and Extraversion and internal motivation, and between the traits Conscientiousness and Neuroticism and external motivation. The study however, could not confirm the effect that sector affiliation was expected to have on the relationship between leadership and motivation, since the moderating effect was either non-existing or opposite the expected. There is therefore a need for more research in the area, with focus on the sector's effect on motivation.

Made available in DSpace on 2016-04-04T18:28:15Z (GMT). No. of bitstreams: 1 Angela Tamye Lopes Fujita.pdf: 2091772 bytes, checksum: 808af13e69106afabd1647d85111c570 (MD5) Previous issue date: 2014-02-11 / Tobacco dependence consists in a complex behavior, which involves physical and psychological dependency. Beyond neurological understanding on nicotine effects, others factors of social, familial and individual nature have been investigated, among these, personality traits can also play animportant role in dependence initiation and it?s maintenance. This study proposed to investigate the existence of differences in personality traits among academic students, which were divided into two separate groups, non-smokers and smokers, and also considering possible influences from sex and level of nicotine dependence variables. The overall sample consisted of 93 college students from a private institution of higher education in the state of S?o Paulo, of which 75 were women and 18 men with a mean age of 21 years. Participants were divided into two groups (smokers and nonsmokers), according to results presented at the Fagerstr?m Test for Nicotine Dependence (TFDN). The Personality Factor Battery (BFP) was answered by all participants, yielding scores on the five major personality factors and facets. From a nonparametric statistical test, Mann-Whitney test, was observed that with respect to the influence of the variable group (smokers and nonsmokers) in personality factors and facets of the group of nonsmokers obtained significantly higher scores on Vulnerability, Pro- sociality Trusts in people, Socialization, and Commitment. Have the smoker group had significantly higher scores in novelty seeking and Openness. The results of the Mann-Whitney statistical teste regarding the influence of level of nicotine dependence (addiction mild group and moderate dependence group) indicated statistically significant differences only on the facet Trust in people with higher average obtained by the group with mild dependence on nicotine. In the analysis of the influence of gender, which was obtained by the Quisquare test,was observed that the group of women obtained significantly higher scores on the facet of Pro- Sociability and Socialization in general factor, whereas men had significantly higher scores on the facets of Openness to ideas, Liberalism, Searching for News and Openness factor. It is expected that these results can be used to favor the improvement of professionals working in the area of smoking and understanding of personality traits that show the different between dependent and non-dependent individuals. / O tabagismo consiste em um comportamento complexo que envolve a depend?ncia f?sica e psicol?gica. Al?m do entendimento neurol?gico dos efeitos da nicotina, diversos outros fatores de natureza social, familiar e individual tamb?m v?m sendo estudados, podendo-se destacar, dentre eles, os tra?os de personalidade, os quais podem exercer papel importante no processo de depend?ncia, assim como na sua manuten??o. Diante do exposto, esse estudo tem como objetivo investigar a exist?ncia de diferen?as de caracter?sticas de personalidade em estudantes universit?rios, divididos em dois grupos: n?o fumantes e fumantes, considerando-se ainda a influ?ncia das vari?veis sexo e n?vel de depend?ncia (no grupo de fumantes).A amostra geral foi composta por 93 estudantes universit?rios de institui??o particular do ensino superior do interior do estado de S?o Paulo, da qual 75 eram mulheres e 18 homens, com idade m?dia de 21 anos. Os participantes foram divididos em dois grupos (n?o fumantes e fumantes), de acordo com o resultado apresentado no Teste de Fagerstr?m para Depend?ncia de Nicotina (TFDN). A Bateria Fatorial de Personalidade (BFP) foi respondida por todos os participantes, dando origem a pontua??es nos cinco grandes fatores da personalidade e suas facetas. A partir de teste estat?stico de Mann-Whitney foi observado que com rela??o ? influ?ncia da vari?vel grupo (fumantes e n?o fumantes) nos fatores e facetas de personalidade o grupo de n?o fumantes obteve escores significativamente maiores em Vulnerabilidade, Pr?-sociabilidade, Confian?as nas pessoas, Socializa??o, e Empenho. J? o grupo fumante apresentou escores significativamente maiores em Busca por novidades e Abertura. Os resultados referentes ? an?lise da influ?ncia do n?vel de depend?ncia nicot?nica (grupo depend?ncia leve e grupo depend?ncia moderada), obtidos a partir de teste de Mann-Whitney,apontaram para diferen?a estatisticamente significativa apenas na faceta Confian?a nas pessoas, com m?dia maior obtido pelo grupo com depend?ncia de nicotina leve. A an?lise estat?stica realizada com o teste do Qui-quadrado sobre a influ?ncia da vari?vel sexo observou-se que o grupo das mulheres obteve escores significativamente maiores na faceta de Pr?-Sociabilidade e no fator geral Socializa??o, enquanto os homens apresentaram escores significativamente maiores nas facetas de Abertura a id?ias, Liberalismo, Busca por Novidades e no fator Abertura. Espera-se que os resultados apresentados possam ser utilizados no sentido de favorecer o aperfei?oamento dos profissionais atuantes na ?rea do tabagismo e na compreens?o dos tra?os de personalidade que se mostram diferentes entre indiv?duos dependentes e n?o dependentes.

Many researchers in numerous studies have focused on leadership style and organizational cultures, but there is an absence of research regarding leader personality traits and productive work cultures in Alberta's oil and gas industry. The purpose of this correlational study was to assess the relationship between leader traits and preestablished learning organization culture benchmarks within Alberta's oil and gas industry. Learning organization culture is an extension of Senge's learning organization theory. Simple random sampling was used to attain a population comprised of 52 employees in Alberta's oil and gas industry who were accountable to an organizational supervisor. Data were collected via the NEO-FFI-3 and the Learning Organization Survey; summarization was accomplished by means of an online third party survey administration service. Regression analyses revealed that each of the 5-factor traits was correlated to learning organization culture. When the model was changed to multiple regression using all traits together, only 2 traits remained significant. Openness to experience positively correlated with learning organization culture, whereas neuroticism was negatively correlated with learning organization culture. The implication for social change is that human resource personnel in Alberta's oil and gas industry can institute information provided in this research to identify and develop leaders who promote innovation in a learning organization culture. Innovation in Alberta's oil and gas industry assists to overcome environmental sustainability, augment technology inefficiencies, and decrease workplace personnel issues.

It is well-established that personality not only affects physical health and longevity, but also mental health and coping mechanisms. One area of limited research is the relationship between cancer pain and personality. This study examined how personality traits affect reported cancer pain severity in older patients (N = 150) receiving outpatient treatment at a comprehensive cancer center. Participants were interviewed regarding their pain severity, personality, affect, and self-efficacy for pain management. Symptom data were collected from the Brief Pain Inventory, while personality data were gathered from the Ten Item Personality Inventory and the Positive and Negative Affect Schedule. Self-efficacy for pain management was collected from the Chronic Pain Self-efficacy Scale. Analyses included descriptives, Chi-square tests, t-tests, stepwise linear regressions, and moderation analyses. The mean age of the sample was 65.38 ± 7.72 years. Seventy-nine percent of the sample was White. Analyses indicated that the average pain was 4.15 ± 2.01 (0-10 scale; with 10 being worst pain), with the sample recording means of 6.53 ± 2.57 and 2.45 ± 2.15 on worst and least pain, respectively. Regression analyses showed extraversion (â = -0.21, p < .01) and openness to experience (â = 0.18, p < .05) to be significant predictors of higher current and average pain severity, respectively. Agreeableness (â = 0.18, p < .05) was found to be a significant predictor of higher self-efficacy for pain management. Conscientiousness and extraversion were significant moderators in the relationship between self-efficacy for pain management and worst pain severity. These findings indicate that different personality types and personal affect may influence reports of pain severity. More empirical research is needed to understand the impact of personality and its relationship with pain severity and self-efficacy for pain management in more diverse and marginalized cancer populations across the age continuum. Finally, the results may be used to design more individualized interventions on pain management, depending on personality type, an application that has never been done in older adults with cancer.

This mixed methods study contains two studies that are linked together sequentially to explore the work/nonwork boundary management of home-based teleworkers through the overarching research question: Do personality traits and ICT use influence how teleworkers manage their work-nonwork boundary? Mobile ICT s such as smartphones are becoming increasingly more important for work and they can have a boundary blurring effect on the work-nonwork boundary as they may be used at anytime and anywhere. However, the issue of how personality traits influence ICT use and work-nonwork boundary management has been neglected, particularly in a teleworking context. As people manage their work-nonwork boundaries differently and some people work better at home than others, it is not known to what extent personality traits play a role in boundary management and ICT use. Study One explores the relationships between the big five personality traits of conscientiousness, extraversion and neuroticism, the facet level traits of dutifulness, gregariousness, and impulsiveness and work/nonwork boundary interruptions. It also explores the relationships between these traits and frequency of technology use for work purposes and the relationship of ICT s (smartphones, tablets and laptops) to work/nonwork boundary interruptions. Data was collected via an online survey, with recruitment from social media sites and Local Authorities totalling 391 usable responses. Conscientiousness was found to be negatively related to work-nonwork and nonwork-work interruptions, dutifulness negatively related to nonwork-work interruptions, neuroticism positively related to work-nonwork interruptions and impulsiveness positively related to nonwork-work interruptions. Personality traits were found to have small correlations to boundary interruptions which was a new finding, although it was expected that the correlations might have been larger than they were found to be. Extraversion was positively related to frequency of laptop use and extraversion and gregariousness were positively related to frequency of smartphone use, neuroticism was negatively related to frequency of smartphone use which were new findings in a work context. Frequency of ICT use was positively related to work-nonwork interruptions, with smartphones showing the highest correlation, followed by tablet and then laptop displaying a stepped effect. This finding of a stepped effect was new and suggests that the portability of smartphones makes them much easier to connect to work out of hours, than laptops and tablets. The second study included interviews from 20 participants who had completed the survey, four from each of five boundary management groups (Strong Segmentors, Strong Integrators, Moderate Managers, Work Boundary Protectors and Family Boundary Protectors). The groups were derived from scores from the survey data, in order to investigate in more depth, other factors that influenced boundary management interruptions that were not picked up in Study One and specifically the idiosyncrasies of ICT use between groups. The qualitative data was analysed via Template Analysis and the final themes in the template were Boundary Management, Crafting Work, Individual Differences, Telework and Interruptions. The theme of Boundary Management was dealt with in this study. Some key findings were that Study Two built upon Study One by finding that proactivity was a key theme and that this trait may be particularly active while individuals are teleworking due to the context. ICT s were used in a way that reflected the wide ranging boundary management preferences of the individuals using them.

Emotionell intelligens har studerats under flertalet år, i olika länder, och har definierats på olika sätt. Egenskapen emotionell intelligens består av fyra dimensioner; emotionality, self-control, well-being och sociability, och mäts genom mätinstrumentet TEIQue-SF. TEIQue-SF har uppnått god validitet som mätverktyg på olika språk, och valideras för första gången på svenska genom denna studie. Tidigare forskning har uppvisat flertalet samband mellan egenskapen emotionell intelligens (EI), personlighet och arbetsprestation. Dessa tillsammans har dock inte undersökts i Sverige. Syftet med att genomföra denna studie var att undersöka sambanden mellan Trait Emotional Intelligence Questionnaire Short Form (TEIQ-SF), Mini-International Personality Inventory Pool-6 (Mini-IPIP6), Short Dark Triad (SD3) och Individual Work Performance Questionnaire (IWPQ) ytterligare, samt att ta reda på vilka personlighetsdrag och dimensioner inom självupplevd individuell arbetsprestation som bäst förklarar variansen inom TEIQue-SFs dimensioner. Studien genomfördes som en tvärsnittsstudie med 228 svenska deltagare (M = 34 år, SD = 12.6, range 16-71 år, 66% kvinnor) med genomsnittlig arbetslivserfarenhet på 14 år (SD = 11.5). Förväntat resultat var att neuroticism skulle korrelera negativt med TEIQue-SF fyra dimensioner, vilket uppnåddes även i denna studie. Positiva samband med Task performance och Contextual performance fanns mellan samtliga dimensioner av EI. Regressionsanalyser visade även att neuroticism hade negativt samband vid förklaring av varians i samtliga dimensioner tillhörande TEIQue-SF. En preliminär slutsats är att TEIQue-SF visat på teoretiskt och empiriskt rimliga samband med relevanta variabler, och kan anses vara validerat bland yngre personer med relativt hög utbildningsnivå. / Emotional intelligence has been defined differently throughout studies for many years in several countries. The trait emotional intelligence consists of four dimensions; emotionality, self-control, well-being and sociability, and is measured by the TEIQue-SF measuring instrument. TEIQue-SF has achieved good validity as a measurement tool in different languages and is now validated in Swedish through this study. Previous research has shown liaisons between the emotional intelligence (EI), personality and work performance. However, these together have not been investigated in Sweden. The purpose of this study was to investigate correlations between Trait Emotional Intelligence Questionnaire Short Form (TEIQ-SF), Mini-International Personality nventory Pool-6 (Mini-IPIP6), Short Dark Triad (SD3) and Individual Work Performance Questionnaire (IWPQ), and to find out which personality traits and dimensions within self-perceived individual work performance best explain the variance within TEIQue-SF dimensions. The study was conducted as a cross-sectional study with 228 Swedish participants (M = 34 years, SD = 12.6, range 16-71 years, 66% women) with an average work experience of 14 years (SD = 11.5). Expected result was that neuroticism would correlate negatively with TEIQue-SF four dimensions, which was also achieved in this study. Positive correlation with Task Performance and Contextual Performance was found between all dimensions of EI. Regression analysis also showed that neuroticism had a negative relation to explanation of variance in all imensions of TEIQue-SF. A preliminary conclusion is that TEIQue-SF has shown theoretical and empirically reasonable relation to relevant variables and can be considered validated among younger people with relatively high educational levels.