No description available.

The diploma thesis is focused on predictions of mean monthly flows for a purpose of control of storage functions when thinking differently positions of fictive reservoirs in the catchment area. One of the reservoir is situated in the upper part of the catchment area and the second is situated in the middle part of catchment area. Predictions are made by Support vector machine method in RStudio and with the use of R language. Predicted values of flows was evaluated by the correlation coefficient, coefficient of determination, Root mean square error and than was made the simulation of operation of storage function, which was evaluated by Total sum of squares modificated for problems of water management. In the end was made a comparison of both of the reservoirs for assessment of the suitability of the method.

The Swedish market has over the past couple of years seen a large increase in companies going public through an IPO. At the same time the capital on the private equity market is increasing for each year which enables companies to stay private longer. Our research focuses on two main areas. First, we investigate if companies that enter the public market at an early stage in the company life cycle have worse aftermarket performance than companies that wait to go public. In our research we will define companies that went public at an early stage as younger than six years at the time of the IPO, based on Brown & Wiles (2015) research, and companies that delayed an IPO as older than six years at the time of the offering. The second area investigates whether the large capital increase on the private equity market have affected the long-run aftermarket performance of IPOs.  Our dataset consists of 746 Swedish IPOs from four different Swedish stock exchanges. We will collect long-run aftermarket performance data from companies that conducted an IPO between the years 2003-2018. The long-run aftermarket performance will be measured over a three-year period. Both buy and hold abnormal returns (BHAR) and monthly abnormal returns are used to analyze the aftermarket performance of the IPO firms. Our main findings are that Swedish IPOs generally underperform the reference market index in the long run. Additionally, we find that the underperformance is generated by companies that conduct an early IPO, which makes us question the IPO readiness of these young companies. We also show that profitability is a key determinant for greater IPO aftermarket performance. Lastly, we do not provide any support that the increase in capital on the private equity markets have any effect on the IPO aftermarket performance. However, the results indicate that companies who went public after the increase of capital perform worse. In our research we contribute with practical variables for retail investors to focus on when investing in IPOs and provide companies with useful information on how to increase the chances of a successful IPO.

No description available.

There is writing about how nineteenth-century churchgoers' views of other countries were formed by church periodicals. And there is writing about how opinions of the Cing and Japanese Empires were changed by the 'Cing-Japanese War of 1894-1895' ('First Sino-Japanese War'; 'Jiá-wǔ War'), and the 'Japanese-Táiwanese War of 1895'. But, there are no works making connections between these bodies of writing. This work makes such a connection through a comparison of writing about the wars in two church periodicals, the England-based Monthly Messenger and Gospel in China , and the Táiwan-based 'Dāi-lám Church News' ('Dāi-lám Hu-siá n Gào-ho ê -b e'). It makes the argument that the periodicals' writers and editors were on the side of the Japanese, as it seemed to them that Japanese success against the Cing Empire, and Japanese rule in Tái-wan, would make Western ways commoner in these places, which would be good for the Protestant Churches there. But the writers and editors had to give their opinions differently, as their readers were in different positions with respect to the wars. The Monthly Messenger's readers were in England; nothing the writers said about the war would make them any less safe, and so in both wars the periodical gave its support to the Japanese loudly and frequently. But the Church News' readers and writers were in Tái-wan. Openly supporting an attacking country could put them in danger, so the writers said nothing for or against any side in the first war, and were but quietly against the Táiwanese Republic in the second.

Secretaria do Planejamento e GestÃo / As from informations upon 111.123 active and retired state public workers from the executive power of the state of CearÃ, regarding to the month of April of 2012, and informations regarding to the payroll of the state public service, wag-es and discount values with monthly deduction from the payroll, this paper ana-lyzes the determinants of the likelihood of a public state worker to be indebted or over-indebted, taking into account that this second category is characteristi-cally indebted over the average of its group. Dual dependent variable models with probit theory are developed and the results show that in the functional cat-egory groups, the probability of indebtedness varies from 40 and 75 per cent, and the over-indebtedness varies from 27 and 75 per cent, which means a criti-cal financial situation of the state worker. / A partir de dados para 111.123 servidores pÃblicos estaduais ativos e aposentados do Poder Executivo do estado do CearÃ, com referÃncia em abril de 2012, e informaÃÃes referentes à folha de pagamento do serviÃo pÃblico estadual, remuneraÃÃo e valores de descontos com emprÃstimos consignados em folha de pagamento, esta dissertaÃÃo analisa os determinantes da probabilidade de um servidor pÃblico do estado estar endividado ou sobre-endividado, sendo esta Ãltima categoria caracterizada pela existÃncia de um endividamento acima da mÃdia de seu grupo. Modelos de variÃvel dependente binÃria com hipÃtese Probit sÃo desenvolvidos e os resultados permitem inferir que no conjunto das categorias funcionais, a propensÃo ao endividamento varia de 40% a 75% e ao sobre-endividamento varia de 27% a 75%, o que sinaliza uma situaÃÃo financeira crÃtica dos servidor estadual.

Most of the prior research in the area of monthly regularities has been based on the Gregorian calendar; by contrast, little attention has been given to other calendars based on different religions or cultures. This thesis examines monthly calendar anomalies in the Pakistani stock market for both the Gregorian calendar and its Islamic counterpart. This is one of the first studies to investigate both calendars for monthly seasonality in one investigation on the same dataset. Empirical studies of the Pakistani stock market that have examined monthly calendar anomalies are relatively sparse when compared with investigations from other emerging markets throughout the world. Even the findings from the small number of Pakistani investigations that have examined for the presence of monthly calendar anomalies have arrived at different conclusions about the predictability of equity returns at different times within a year. Since the conclusions of these findings have been mixed, the current study undertakes further work on this topic to offer some clarity in this area; this thesis arrives at a firm conclusion about the monthly calendar anomaly. For the purpose of this thesis, both qualitative and quantitative research methods were employed. Firstly, 19 face-to-face interviews were conducted with brokers, regulators and individual investors to ascertain their views about share price regularities with regards to monthly calendar anomalies and to gain some insights about the role of investor sentiment in the Pakistani stock markets. Secondly, share returns for a sample of 106 companies listed on the KSE over the 17 year period from 1995 to 2011 were analysed to determine whether Pakistani stock markets are weak-form efficient or whether security price changes can be predicted from knowledge of the month when the return is earned; it also investigates whether there is a change in the risk (volatility) of shares in different months which might explain any pattern in returns. To answer these questions various research methods were employed. The results of the interviews suggest that most respondents believed that share prices exhibit patterns in certain months of the year. The most common pattern highlighted by the interviewees related to the month of January for the Gregorian calendar and Ramadan for the Islamic calendar. Interviewees also argued that volatility declined during the religious month of Ramadan; they attributed these changes to investor sentiment and religious duties. Overall, the results suggested that monthly calendar anomalies may be present in the market and that these are studied by investors in an attempt to earn profit. The results from the quantitative analyses supported the findings from the interviews. Initial analyses suggested that returns varied significantly during certain months which indicate that the market might not be efficient. Further, investigations for seasonality in both the mean and volatility of returns offered conflicting evidence; very little statistical evidence of monthly seasonal anomalies was identified in average returns. However, monthly patterns were present in the variance of equity price changes in Pakistan. Overall, the results confirm that whatever monthly seasonality may be present in the equity prices of Pakistani companies, it is more pronounced in the volatility data than in the mean return numbers. These findings may have useful implications for trading strategies and investment decisions; investors may look to gain from managing the risk of their portfolios due to time varying volatility documented in the findings of this thesis. Further, the results of this thesis have interesting implications for our understanding of the dynamics of equity volatility in the Pakistani stock market.

<p><p><p><strong>Syfte:</strong> Syftet med denna studie är att utreda månadsavgiftens inverkan på bostadsrätters försäljningspris och få en indikation på hur rationellt den studerade marknaden fungerar. Den formella hypotesen är: Leder låg månadsavgift till högt försäljningspris och vice versa? Dessutom undersöks hur månadsavgiften kapitaliseras in i bostadsrätters försäljningspris.</p></p></p><p><p><p><strong>Metod:</strong> Denna studie baseras på information om bostadsrättsförsäljningar i Gävle under år 2008. En omfattande manuell databehandling har utförts för att kunna genomföra studien. De prispåverkande faktorerna har klassificerats utifrån deras förmodande inverkan på priset. Metoden som används är den hedoniska metoden, som gör det möjligt att beskriva försäljningspriset som en funktion av ett antal faktorer. För att estimera månadsavgiftens effekt på försäljningspriset har fyra regressionsekvationer utformats och beräknats i dataprogrammet Microsoft Excel. Utifrån regressionsresultatet har en värderingsformel skapats som använts för att urskilja det avkastningskrav med vilket marknaden kapitaliserat avgiften.</p></p></p><p><p><p><strong>Resultat & slutsats:</strong> Samtliga regressionsresultat visar att korrelationen mellan månadsavgift och försäljningspris är negativ. Det intressanta är dock hur månadsavgiften kapitaliseras in i bostadsrättens försäljningspris. Resultatet visar att avkastningen är som lägst när månadsavgiften är låg och tilltar i takt med att månadsavgiften ökar. Detta kan tala för att en fokusering på den låga månadsavgiften kan leda till för höga försäljningspriser.</p><p><strong>Förslag till fortsatt forskning: </strong>När vi i studien har bedömt huruvida marknaden handlar rationellt eller ej har vi inte tagit hänsyn till hur köpet är finansierat av de enskilda köparna. Detta är en faktor som komplicerar bedömningen och är värt att undersöka vidare.</p></p></p><p><p><p><strong>Uppsatsens bidrag:</strong> Studien har gett en inblick i hur månadsavgiften påverkar bostadsrätters försäljningspris. Dessutom har åskådliggjorts huruvida marknadens värdering av månadsavgiften ändras vid olika avgiftsnivåer.</p></p></p> / <p><p><p><strong>Aim:</strong> The purpose of this study is to investigate the monthly fees impact on tenant-owner<strong> </strong>flats market and get an indication of how rational the studied market is. The formal hypothesis is: Does a low monthly fee lead to high selling price and vice versa? Moreover investigates how the monthly fee capitalizes into tenant-owner flats selling price.</p></p></p><p><p><p><strong>Method:</strong> This study is based on sales of tenant-owner flats in Gävle during year 2008. An extensive manual data processing has been implemented to perform the study. The priceinfluencing factors have been classified according to their prospective impact on the price. The method used is the hedonic method, which makes it possible to describe the selling price as a function of a number of factors. To estimate monthly fees effect on the sales price, four regression equations has been designed and calculated in the computer program Microsoft Excel. Based on the regression result a valuation formula has been created and is used to identify the return of which the market has capitalized the fee.</p><p><strong>Result & Conclusions:</strong> All regression results show that the correlation between the monthly fee and selling price are negative. What is interesting is how the monthly fee is capitalized into the tenant-owner flats selling price. The result shows that the yield is at its lowest when the monthly fee is low and increases as the monthly fee increases. This may demonstrate that a low monthly fee can lead to a high selling price.</p><p><strong>Suggestions for future research:</strong> When we assessed whether the market is rational or not, we have not taken account of how the purchase is financed by the individual buyers. This is a factor that complicates the assessment and is worth exploring further.</p></p></p><p><p><p><strong>Contribution of the thesis:</strong> The study has given an insight into the monthly fees affect on tenant-owner flats selling prices. In addition, we illustrate how the market's valuation of the monthly fee changes at different levels of the fees size.</p></p></p>

Syfte: Syftet med denna studie är att utreda månadsavgiftens inverkan på bostadsrätters försäljningspris och få en indikation på hur rationellt den studerade marknaden fungerar. Den formella hypotesen är: Leder låg månadsavgift till högt försäljningspris och vice versa? Dessutom undersöks hur månadsavgiften kapitaliseras in i bostadsrätters försäljningspris. Metod: Denna studie baseras på information om bostadsrättsförsäljningar i Gävle under år 2008. En omfattande manuell databehandling har utförts för att kunna genomföra studien. De prispåverkande faktorerna har klassificerats utifrån deras förmodande inverkan på priset. Metoden som används är den hedoniska metoden, som gör det möjligt att beskriva försäljningspriset som en funktion av ett antal faktorer. För att estimera månadsavgiftens effekt på försäljningspriset har fyra regressionsekvationer utformats och beräknats i dataprogrammet Microsoft Excel. Utifrån regressionsresultatet har en värderingsformel skapats som använts för att urskilja det avkastningskrav med vilket marknaden kapitaliserat avgiften. Resultat &amp; slutsats: Samtliga regressionsresultat visar att korrelationen mellan månadsavgift och försäljningspris är negativ. Det intressanta är dock hur månadsavgiften kapitaliseras in i bostadsrättens försäljningspris. Resultatet visar att avkastningen är som lägst när månadsavgiften är låg och tilltar i takt med att månadsavgiften ökar. Detta kan tala för att en fokusering på den låga månadsavgiften kan leda till för höga försäljningspriser. Förslag till fortsatt forskning: När vi i studien har bedömt huruvida marknaden handlar rationellt eller ej har vi inte tagit hänsyn till hur köpet är finansierat av de enskilda köparna. Detta är en faktor som komplicerar bedömningen och är värt att undersöka vidare. Uppsatsens bidrag: Studien har gett en inblick i hur månadsavgiften påverkar bostadsrätters försäljningspris. Dessutom har åskådliggjorts huruvida marknadens värdering av månadsavgiften ändras vid olika avgiftsnivåer. / Aim: The purpose of this study is to investigate the monthly fees impact on tenant-owner flats market and get an indication of how rational the studied market is. The formal hypothesis is: Does a low monthly fee lead to high selling price and vice versa? Moreover investigates how the monthly fee capitalizes into tenant-owner flats selling price. Method: This study is based on sales of tenant-owner flats in Gävle during year 2008. An extensive manual data processing has been implemented to perform the study. The priceinfluencing factors have been classified according to their prospective impact on the price. The method used is the hedonic method, which makes it possible to describe the selling price as a function of a number of factors. To estimate monthly fees effect on the sales price, four regression equations has been designed and calculated in the computer program Microsoft Excel. Based on the regression result a valuation formula has been created and is used to identify the return of which the market has capitalized the fee. Result &amp; Conclusions: All regression results show that the correlation between the monthly fee and selling price are negative. What is interesting is how the monthly fee is capitalized into the tenant-owner flats selling price. The result shows that the yield is at its lowest when the monthly fee is low and increases as the monthly fee increases. This may demonstrate that a low monthly fee can lead to a high selling price. Suggestions for future research: When we assessed whether the market is rational or not, we have not taken account of how the purchase is financed by the individual buyers. This is a factor that complicates the assessment and is worth exploring further. Contribution of the thesis: The study has given an insight into the monthly fees affect on tenant-owner flats selling prices. In addition, we illustrate how the market's valuation of the monthly fee changes at different levels of the fees size.

Månadssamtalet är ett frekvent återkommande samtal mellan medarbetare och chefer inom en organisation. I samtalet diskuteras medarbetarens välmående, resultat som har presterats samt framtida utvecklingsplaner. Syftet med denna uppsats var att utifrån medarbetares och chefers perspektiv undersöka hur månadssamtalet bidrar till medarbetares fortsatta utveckling och lärande. Vårt syfte resulterade i tre frågeställningar: Vad karaktäriserar månadssamtalet, hur medarbetare respektive chefer ser på sina uppgifter i månadssamtalet samt på vilka sätt månadssamtalen bidrar till att utveckla medarbetarna i deras fortsatta vardagliga arbete. Som ett första steg granskades tidigare forskning inom medarbetarsamtalet, detta gjordes för att kunna urskilja olika perspektiv, betydelsefulla aspekter och tidigare intressant problematik runt fenomenet. För att söka svar på frågeställningarna valdes en kvalitativ metod. Vi genomförde sju semistrukturerade telefonintervjuer tillsammans med medarbetare och chefer från ett bemanningsföretag. Det material som redovisades från intervjuerna analyserades sedan med ett sociokulturellt perspektiv i åtanke samt med teorier från Lave och Wenger samt Säljö. Vi kom fram till att månadsamtalet karakteriseras som en social och gemensam aktivitet. Samtalet generar kontinuerlig återkoppling till medarbetaren om deras styrkor och svagheter, vilket görs möjligt genom språket som även ses som en av de mest väsentliga komponenterna i samtalet. Utformning på samtalet påverkas av den existerande kulturen i organisationen. Chefens uppgift är att coacha och vägleda medarbetaren och därmed blir deras primära uppdrag att få medarbetaren att prata genom att engagera och stötta. Medarbetarens uppgift blir följaktligen att vara den engagerade, kommunikativa och ledande parten. Det finns ett fokus på lärande och utveckling som görs möjligt genom att medarbetaren tar ansvar för att delta, vara aktiv samt anpassar sig till den rådande kulturen. Medarbetarna själva anser att samtalet bidrar till en förändring i deras arbetssätt och i hanteringen av olika arbetsmoment till det bättre. En aspekt till att lärandet kan ske hänvisas till de kunskaper och råd som cheferna bidrar med men även till att medarbetarna själva aktivt har deltagit och resonera fram till lösningar. Lärandet i månadssamtalet sker på så sätt i social interaktion mellan medarbetare och chefer, erfarenheter och kunskaper används och utvecklas. / The monthly dialogue is a frequent discussion between employees and managers within an organization. In the conversation they discuss the employee's well being, results that have been achieved and future development plans. The purpose of this study was to examine, from a employees and managers perspective, how the monthly dialogue contributes to the employee's continued development and learning. Our purpose resulted in three questions: What characterizes the monthly dialogue, how do employees and managers view their individual tasks in the monthly dialogue and in which ways does the monthly dialogue contribute to developing employees in their daily work tasks. As a first step we reviewed previous research in performance appraisal, this was done in order to distinguish different perspective, significant aspects and past interesting problems around the phenomenon. In order to answer the questions we choose a qualitative method. We performed seven semi-structured telephone interviews with employees and managers from an employment agency. The material from the interviews were then analysed with a socio-cultural perspective in mind and with theories from Lave and Wenger and Säljö. We concluded that the monthly dialogue can be characterized as a social and communal activity. The dialogue will generate continuous feedback to the employee on their strengths and needs, which are made possible through the language, which is seen as one of the most essential components in the monthly dialogue. The dialogues are affected by the existing culture in the organization. The manager's role is to coach and guide the employees and therefore their primary mission is to get the employee to talk through involvement and support. The employee's task is to be communicative and take the leading role. There is a focus on learning and development and this is made possible if the employee takes responsibility to participate, be active and adapt to the existing culture. The employees themself believe that the dialogue contributes to a change in their approach and in handling different work tasks, for the better. One aspect that learning refers to is the knowledge and advices that managers contribute with and to the employees themselves that have actively participated and reflected to solutions. Learning in the monthly dialogue is made possible through social interaction between employees and managers and when experiences and knowledge are used and developed.