We evaluate the validity of the Adaptive Market Hypothesis (AMH) in a Swedish context by testing for stock return predictability on the OMXS30 stock index between 1986 and 2014 using daily returns and monthly two year moving subsamples. To our knowledge, this is the first study to evaluate the AMH in a Swedish context. Three tests for linear independence based on Lo and MacKinlay (1988) variance ratio test, namely the Chow and Denning joint test as well as Wright (2000) joint rank and sign tests are used. We also test for non-linear independence using the BDS test statistics. Presented in our findings is evidence of time-varying predictability where stock returns go through periods of return predictability and non-predictability. When evaluating the different market conditions (volatility, bull, bear, up, down and normal markets) we find that these different market conditions govern the degree of stock return predictability in different ways. Our findings support the AMH on the OMXS30 stock index and in contrast to previous research regarding market efficiency on the Swedish stock market, we do not find persistent stock return predictability over the short and long term.

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Tout dommage que suscite la vie en société ne donne pas lieu à réparation . La formule illustre plus désormais un souhait qu’une réalité alors que l’histoire des conditions posées pour restreindre le champ de la réparation est depuis longtemps celle d’un lent et profond déclin. En principe, un dommage pour être indemnisé doit être personnel, certain et direct. La jurisprudence y ajoute une exigence de légitimité. L’examen du droit positif permet cependant de constater un contrôle de moins en moins poussé de ces différentes conditions. La reconnaissance récente du préjudice écologique pur confirme ce mouvement de recul alors que l’indemnisation de ce dommage collectif au sens strict repose sur l’abandon de l’exigence d’un préjudice personnel. Le phénomène est aujourd’hui acté. Il conduit à faire de presque n’importe quelle atteinte la source d’une indemnisation. Il invite surtout à réfléchir à une réhabilitation de certains caractères généraux du préjudice et même à la redécouverte d’autres caractères plus spéciaux comme la prévisibilité ou l’anormalité pour mieux circonscrire le droit de la réparation. Face à ce phénomène de relâchement, deux attitudes sont en effet possibles : soit y céder et abandonner tout espoir de contrôler par des moyens effectifs le champ de l’indemnisation, soit y résister et tenter de redonner au droit de la réparation une dimension à la fois cohérente et restreinte. C’est cette démarche que nous avons tenté d’entreprendre pour permettre au préjudice de jouer enfin un rôle structurant dans le droit contemporain de la responsabilité. / Not all prejudice emanating from society gives rights to redress. This expression illustrates more of a wish than a reality as the history of conditions to restrict the range of redress is one of long duration and of slow and profound decline. In principle, for prejudice to be compensated it must exist, be personnel, and direct. Jurisprudence adds the demands of legitimacy. An examination of current law however, shows that these conditions have less and less of an impact. For example, recent recognition of ecological prejudice confirms this while the compensation of collective damage in the strict sense rests on the relinquishment of the requirement of personal damage. The phenomenon is today acted upon, and results in the making of almost any infringement a source of compensation. As well, it encourages a reflection on the rehabilitation of certain general characteristics of the damage and even about the rediscovery of other more special characteristics. A reaction to the prejudice or an abnormality, to confine better the right are examples. To confront this, two attitudes are possible: either abandon any hope to control the field of the compensation effectively or to resist the phenomenon and restore in the right of redress incorporating a coherent and restricted dimension. It is this latter approach that this dissertation argues to enable prejudice to finally play a structuring role in contemporary law of responsibility.

Este estudo objetivou investigar os componentes posturais reativos em resposta a deslocamentos da base de suporte, perturbando o equilíbrio corporal, em função da realização concomitante de uma tarefa supra-postural manual e incerteza sobre a direção de perturbação. Dezesseis adultos jovens de ambos os sexos (M = 26,3 anos; DP = 2,6) participaram do estudo. A tarefa supra-postural consistiu em equilibrar um cilindro sobre uma bandeja (restrição), cujo desempenho foi verificado por meio do deslocamento angular do cilindro. O desempenho na tarefa postural foi avaliado em função da combinação da incerteza sobre a direção de perturbação postural (anterior ou posterior) e restrição imposta pela tarefa supra-postural, requisitando equilíbrio do cilindro ou manutenção de uma bandeja na orientação horizontal. O desempenho na tarefa postural foi avaliado por meio de análises eletromiográfica de músculos anteriores e posteriores da perna direita e cinemática das principais articulações envolvidas nos ajustes da postura e da tarefa supra-postural. Os resultados mostraram que a tarefa supra-postural com restrição em perturbações previsíveis diminuiu a latência de ativação da musculatura agonista reduziu o deslocamento manual no controle na tarefa supra-postural. A tarefa supra-postural com restrição induziu ajustes diferenciados nas articulações do tornozelo, joelho, quadril e ombro em comparação à condição sem restrição. Os resultados sugerem que a tarefa supra-postural com restrição induziu maior automatização postural para reagir rapidamente à perturbação. Estes resultados indicam que o controle de uma tarefa supra-postural é integrado com a manutenção do controle postural em situações de perturbação do equilíbrio corporal. Além disso, esta integração foi mostrada ser dependente da previsibilidade da direção de perturbação postural. Assim, a principal conclusão deste estudo foi que a restrição imposta pela tarefa supra-postural influencia respostas neurofisiológicas reativas associadas ao controle postural, que são potencializadas pela previsibilidade da perturbação postural / This study aimed to investigate the reactive components of postural adjustments in response to displacements of the basis of support, disturbing body balance, as a function of a concomitant manual execution of a supra-postural task and uncertainty about the perturbation direction. Sixteen young adults of both genders (M = 26,3 years; SD = 2,6) participated in the study. The supra-postural task consisted of equilibrating a cylinder on a tray (constraint), whose performance was assessed through cylinder displacement. The performance on stance was evaluated as a function of a combination of uncertainty of direction of postural perturbation (anterior or posterior) and the constraint imposed by the supra-postural task, requiring equilibrium of the cylinder or maintenance of a tray in a horizontal orientation. Performance on stance was assessed through electromyographic analysis of anterior and posterior muscles of the right leg and kinematics of the main joints involved in postural e supra-postural adjustments. The results showed that the supra-postural task in predictable perturbations decreased the activation latency of agonistic muscles and diminished the manual displacement in the supra-postural task. The constraining supra-postural task induced differential adjustments in the ankle, knee, hip and shoulder in comparison with the condition without constraint. The results suggest that the restrictive supra-postural task induced a more automatic postural control to rapidly react to perturbations, generating more efficient postural adjustments. Thus, the present results suggest that the constraining supra-postural task induced more automatic responses. These results indicate that the control of a supra-postural task is integrated with the maintenance of upright stance in situations of balance perturbation. Moreover, this integration was shown to be dependent on predictability of direction of postural perturbation. So, the main conclusion drawn from our results is that the constraint imposed by the supra-postural task influences reactive neurophysiological responses related to postural control, which are enhanced by postural perturbation predictability

Neste trabalho estudamos as aplicações do método do Gradiente Espectral Projetado (SPG) em Meteorologia nos campos de previsibilidade, estabilidade e sensibilidade. Inicialmente revisamos os Vetores Singulares Lineares (LSVs) e em seguida apresentamos a teoria das Perturbações Condicionais Não-Lineares Ótimas (CNOPs). Enquanto os métodos clássicos estão baseados no Modelo Tangente Linear, as CNOPs são uma formulação do mesmo problema baseado em Programação Não-Linear. As CNOPs são descritas na literatura como responsáveis por melhorias em relação aos métodos anteriores. Finalmente analisamos três exemplos de aplicação do método à problemas de previsibilidade, estabilidade e sensibilidade. / A revision about applications of Spectral Projected Gradient (SPG) in meteorology is done in the fields of predictability, stability and sensitivity. Initially we review about Linear Singular Vectos (LSVs) and we present the Conditional Nonlinear Optimal perturbations (CNOPs). While the classic methods are based on the Tangent Linear Model, CNOPs are another formulation of the problem based on Nonlinear Programming. CNOPs are described in bibliography as responsible by better results than older methods. Finally we analyze three applications in predictability, stability and sensibility.

Redan idag är närmare var tredje medarbetare i Försvarsmakten civilanställd och den andelen förväntas öka. Trots det har få studier gjorts kring vad som driver dessa människor. Den modell vi tagit fram visar att civilanställda i Försvarsmakten känner en stark samhörighet och ser sig som en del av den gemensamma identiteten. De påverkas dock av en upplevd otydlighet och byråkratisering, precis som sina militära kollegor. Dock med en stor skillnad – att byta arbetsgivare ligger närmare till hands än för en Officer. Vår studie utgår från workshops med civilanställda vid två krigsförband. Urvalet av deltagare har gett oss en inblick i såväl administrativa roller som roller burna av specialister inom kärnverksamheten. Vi har valt att analysera vår empiri utifrån perspektiv som Försvarsmakten kan påverka. Den här studien handlar inte om motivationsteori utan vad arbetsgivaren kan och bör göra för att säkra både rekrytering och bibehållande av individer som är avgörande för organisationens framtid. Det enskilt viktigaste Försvarsmakten kan göra för att behålla kompetensen hos dessa medarbetare är att ge dem trovärdiga karriärvägar, likt de Officerskåren har.

In today’s manufacturing industry, addressing maintenance functions is essential to increase effectiveness and productivity. With the present era of digitalisation and technology, all data is enabled to be shared and integrated within the organisations. Increased advancement of complex productions requires consequently greater performance maintenance systems leading to challenges in monitoring processes. Recent research indicates that there are deficiencies regarding maintenance when connecting technical- and organisational aspects. Therefore, it becomes engaging to investigate how to support the decision-making and how to achieve predictability by anticipating unplanned disruptions, breakdowns and failures. The study was commenced to analyse how organisations can utilise maintenance information in order to gain predictability. The research was conducted by using a qualitative approach gathering data through unobtrusive measures, interviews and observations, all being performed at a production manufacturing site. The collected data allowed the research questions to be answered, showing which maintenance information becomes critical to enable prediction in order to prevent or eliminate equipment breakdowns as well as presenting how the information should be utilised within the organisation.  The findings emphasise that in order to achieve predictability and preventive measures, organisations must assess the specific dimensions of downtime, severity and frequency. Both planned- and unplanned maintenance information should be logged with rich descriptions, having common inputs in all systems to induce data transferability. It is justified that systems should be integrated and not individually used, inducing the absolute necessity of standards. All involved individuals with distinct roles and responsibilities should have clear apprehensions about the necessity of maintenance as well as how it brings value. This supports the view of motivation where recognition and achievement become crucial to increase performance efforts, encouraging correct and detailed system inputs. Additionally, mutual understandings that all agree upon lead to maintenance systems becoming an influential organisational function that fully supports the decision-making. / I dagens tillverkningsindustri är det viktigt att ta hänsyn till underhållsfunktioner för att öka effektiviteten och produktiviteten. Med den nuvarande eran av digitalisering och teknik tillåts all data att delas och integreras i samtliga nivåer i organisationer. Med ökad utveckling av komplexa produktionssystem krävs det medföljande högre presterande underhållssystem som leder till utmaningar i processövervakning. Ny forskning tyder på att det finns brister med avseende på underhåll för att integrera tillsammans tekniska och organisationella aspekter. Av den anledning blir det engagerande att undersöka hur beslutsfattandet kan stödjas för att uppnå förutsägbarhet genom att förutse oplanerade störningar, haveri och fel. Studien inleddes för att analysera hur organisationer kan använda underhållsinformation för att erhålla förutsägbarhet. Utförandets design implementerades med hjälp av ett kvalitativt tillvägagångssätt genom att samla in data via diskret-forskning, intervjuer och observationer, allt utfört på en produktionsanläggning. Samtliga insamlade uppgifter fullgjorde det möjligt att besvara forskningsfrågorna om vilken underhållsinformation som blir avgörande för att förutsäga, förebygga eller eliminera utrustningsstörningar och hur tillhörande information ska nyttjas inom organisationen. Som resultatet betonar, för att erhålla förutsägbarhet och förebyggande åtgärder krävs det beaktning av dimensionerna stilleståndstid, svårighetsgrad och frekvens. Både planerat- och oplanerat underhållsarbete ska loggas med omfattande beskrivningar och gemensamma koder i alla system för att inducera överförbarheten. Det motiveras att system ska integreras och inte användas enskilt, vilket föranleder nödvändigheten av standarder. Samtliga involverade individer med distinkta roller och ansvarsområden ska ha en tydlig förståelse över nödvändigheten av underhållssystem och hur den skapar värde. Detta stödjer synen på motivation, där igenkännande och vidareutveckling blir avgörande för att öka prestationsinsatserna såväl som uppmuntra till korrekta och tydliga systemkoder. Detta förklarar att ömsesidig förståelse som samtliga är överens om leder till att underhållssystem blir en inflytelserik organisationsfunktion som stödjer beslutsunderlag.

Ecological differences between herbs and woody plants, and evolution of the herbaceous habit Adam Klimeš, doctoral thesis Abstract Flowering plants (angiosperms), which make up most present-day vegetation, were originally woody. While flowering plants have repeatedly given rise to herbaceous lineages since their first appearance, we lack a clear explanation for these common evolutionary events. Freezing temperatures and drought periods have been proposed as factors which had caused huge success of the younger growth form but the evidence is very limited and not in favour of these hypotheses. In this thesis, we aimed to build the foundations of research on the evolution of herbs. We outlined new potential drivers of the evolution of herbs, suggested solutions to some methodological challenges and provided evidence about differences between herbs and woody plants relevant to the hypotheses on herb evolution. To this end, we used common garden experiments with young plants of both growth forms and global trait data from public databases which we evaluated using phylogenetic comparative techniques. Annuality of aboveground biomass and fast life-strategy of herbs are characteristics which differentiate them from woody plants and which in some conditions are expected to be behind their success. Apart from the...

The risk assessment process and the subsequent risk management measures need tobe constantly evaluated, updated and improved. This thesis contributes to that workby considering, and suggesting improvements, regarding aspects like userfriendliness,transparency, accuracy, consistency, data reporting, data selection anddata evaluation.The first paper in this thesis reports from an empirical investigation of themotivations, intentions and expectations underlying the development andimplementation of a voluntary industry owned environmental classification systemfor pharmaceuticals. The results show that the purpose of the classification systemis to provide information, no other risk reduction measures are aimed for.The second paper reports from an evaluation of the accuracy and the consistency ofthe environmental risk assessments conducted within the classification system. Theresults show that the guideline recommendations were not followed in several casesand consequently alternative risk ratios could be determined for six of the 36pharmaceutical substances selected for evaluation in this study. When additionaldata from the open scientific literature was included the risk ratio was altered formore than one-third of the risk assessments. Seven of the 36 substances wereassessed and classified by more than one risk assessor. In two of the seven cases,different producers classified the same substance into different classificationcategories.The third paper addresses the question whether non-standard ecotoxicity data couldbe used systematically in environmental risk assessments of pharmaceuticals. Fourdifferent evaluation methods were used to evaluate nine non-standard studies. Theevaluation result from the different methods varied at surprisingly high rate and theevaluation of the non-standard data concluded that the reliability of the data wasgenerally low. / QC 20100929

Floods associated with extreme precipitation are one of the most serious natural hazards, which produce substantial human and socio-economic losses in central Europe. One way to reduce the impact of flooding is by increasing preparedness with better flood forecasts and warnings, which is not possible without a proper understanding of physical processes leading to a flood hazard. However, frequent research on floods in relation to causal precipitation and synoptic conditions is usually carried out regionally, although some events often affect areas of a size of entire countries or even larger. The thesis was focused exactly on these large-scale precipitation and flood events that occurred in the second half of the 20th century and then until 2013, for which the size of the affected area is as crucial in the extremity assessment as the magnitude of flood discharges or precipitation totals. The extremity indices used for the assessment of extreme precipitation and flood events connected both aspects. The larger area of interest defined within central Europe allowed examining the spatial structure of events, the differences between them, and their relation to conditions in the atmosphere. To connect the extremes of precipitation with extremes in atmospheric conditions, the causal circulation was...