Bakgrund och problem: Finanskrisen 2008-2009 hade sitt ursprung i överoptimistisk långivning med anknytning till fastigheter. Bostadsbubblan som hade uppstått mellan 2001-2006 i USA fick störst betydelse och kom att beskrivas som den främsta utlösande faktorn till finanskrisen. Bostadsbubblan sprack och huspriserna började falla under 2007. Krisen intensifierades och utvecklades till en global finanskris under 2008 då den amerikanska investmentbanken Lehman Brothers tilläts gå i konkurrs. Botten nåddes sannolikt under 2009 som präglades av en global recession. Men samtidigt ser vi fortfarande under 2012 efterspelet av finanskrisen i form av svag tillväxt, osäkerhet på de finansiella marknaderna och stadsfinansiella kriser i euroområdet. Finanskrisens utbrott resulterade bland annat i att banker och andra finansiella institut ströp utlåningen, penningmarknaden total frös och tecken på en totallåsning av banksystemet blev snabbt tydliga. Fastighetsbranschen karaktäriseras av speciella finansiella förutsättningar som gör att den urskiljer sig från andra branscher. Fastighetsbolag har generellt sett en hög belåning för att möjliggöra de kapitalkrävande investeringar som fastigheter innebär. Fastighetsbolagen har därför vanligtvis en kapitalstruktur med stor andel främmande kapital, vilket medför att tillgång till externt kapital och en fungerande finansiell marknad är närmast ett livsvillkor bolagen. Utifrån den bakgrunden ansåg jag att det borde vara intressant att undersöka hur den finansiella situationen i börsnoterade fastighetsbolag har påverkats och utvecklats under finanskrisen. Syfte: Uppsatsens syfte är att beskriva och förklara hur den finansiella situationen i börsnoterade fastighetsbolag har påverkats och utvecklats under den senaste finanskrisen. Vidare syftar studien till att förklara hur finanskrisen har påverkat bolagens finansiella ställning. Studien syftar även till att bidra med i någon mån ökad förståelse för hur börsnoterade fastighetsbolag påverkas av en finansiell kris. Teori: Den teoretiska referensramen behandlar fyra olika temaområden bestående av teori som förklarar kapitalstruktur, finansiella nyckeltal, värderingsteori samt redovisning i fastighetsbolag. Teoriområdet kring kapitalstruktur belyser dels kapitalstruktur som begrepp, men även de teorier som traditionellt förknippas med kapitalstruktur. Redovisning i fastighetsbolag fokuseras på den internationella standarden IAS 40, som tillämpas vid redovisning och värdering förvaltningsfastigheter. Metod: För uppsatsen har en kvantitativ metod använts där 17 fastighetsbolag noterade på NASDAQ OMX Stockholm har studerats. Analysen grundar sig på insamlad data från fastighetsbolagens årsredovisningar för år 2006 till 2010. Resultat och slutsatser: Studiens resultat visar att fastighetsbolagens soliditet minskade och var lägre under 2008-2010. Studien visade även att belåningsgraden hos fastighetsbolagen ökade under perioden 2007-2010. I undersökningen kunde även en stigande lönsamhet i form av förvaltningsresultat och driftöverskott noteras sedan 2006. Studien visade att bolagen gjorde nettoupptag av lån under samtliga år, med en tydlig minskning 2008-2010. En ökande total skuldsättning kunde även påvisas under hela perioden. Avslutnings vis visade studien att samtliga fastighetsbolag redovisade positiva värdeförändringar på sina förvaltningsfastigheter 2006-2007 och 2010. För främst 2008 men även 2009 redovisade stora flertalet av bolagen en markant negativ värdeförändring på förvaltningsfastigheter. / Background and problem: The financial crisis of 2008-2009 originated from overoptimistic lending and projections of asset prices in real estate and residential markets. The housing bubble that developed during 2001-2006 and the sub-prime lending in the US became known as the main cause and trigger of the financial crisis. The bursting of the housing bubble during 2007 followed by decreased housing prices was the first sign of the upcoming turmoil in the US. The financial crisis was intensified and spread to a global financial crisis and recession when the bank Lehman Brothers declared bankruptcy on September 14th 2008. The financial crisis most likely reached its bottom during 2009, a year that was characterised by halting global credit markets and a synchronised recession among advanced economies. But in 2012 we can still see the affects of the financial crisis with weak growth in the global economy, uncertainty in the finical markets and sovereign debt crisis in the eurozone. The financial crisis made the banks and other lending institutions reluctant to lend money both among themselves and to others, this triggered a credit crunch and halt in the credit markets. Real estate business and real estate firms are characterised by special financial conditions that separates it from other sectors. Real estate firms generally have a high leverage ratio, to enable profitable investments in capital intensive real estate business. Hence real estate firms are known to have a capital structure with a large proportion of debt; as a consequence real estate companies are highly dependent on the supply of external capital, and functioning capital and debt markets are the lifeblood of real estate firms. This unique characteristic of the real estate industry and the companies makes them an interesting area of study, especially during a time with a credit crunch and financial crisis.                          Purpose: The purpose of this bachelor thesis is to describe and explain how the financial situation in listed real estate companies was affected and developed during the last financial crisis. Furthermore the purpose of the study is to explain how the financial crisis has affected the financial position of real estate companies. The study also aims to contribute to more knowledge about how listed real estate companies can be affected by a financial crisis.    Theory: The theoretical framework for the thesis is constituted by four main areas that explains and describes capital structure, financial ratios, asset pricing models and investment property accounting. Methodology: The thesis is based on a quantitative method and approach, where 17 real estate companies listed on NASDAQ OMX Stockholm has been studied. The empirical analysis was based on data collected from annual reports for the years 2006-2010.     Empirical results and conclusions: The study showed a decrease in solidity (equity ratio) during the studied period, and a lower solidity 2008-2010. The study also showed that the real estate companies increased their leverage (debt to real estate value) between 2007 and 2010. The essay also indicated a higher and increased underlying profitability among the companies since 2006. Another result was that the companies increased the total debt, and took up new external debt each year during 2006-2010. Finally the study showed that all companies in the study reported significant gains from fair value of investment property 2006-2007, and losses during 2008 and 2009.

The purpose of this study has been to examine what it is in the situation that affects which leadership that is applied on the members of the organization. Our questions that we have explored were; What is it in the situation that influences the leadership applied on an individual or staff group? What similarities and differences have emerged by Hersey and Blanchards situational leadership model? Further, we used qualitative semi-structured interviews at the interview procedures with three managers and three employees. Hersey and Blanchards situational leadership model and Goffmans theory in the book "The presentation of self in everyday life" have been used as a foundation and inspiration in this study. We have found that circumstances like the size of the staff group along with the organizations financials and the resources affect the leadership behavior and how well it is matched with the employees. The function of the leaders position in the context, and the purpose of the situation influences how the leadership is formed. The organizations interests and goals are also affecting what leadership that is applied, which we found that Hersey and Blanchard do not express in the situational leadership model. Another difference that we found in relation to the model is that the employees overall experienced the leadership as well adapted, even thought that they have not been designed according to what Hersey and Blanchard advocates. / Syftet med denna studie har varit att undersöka vad det är i situationen som påverkar vilket ledarskap som tillämpas på en organisations medlemmar. De frågeställningar vi sökt finna svar på genom vår undersökning är; Vad är det i situationen som påverkar vilket ledarskap som tillämpas på en individ/personalgrupp? Vilka likheter och olikheter har framkommit utifrån Hersey och Blanchards situationsanpassade ledarskapsmodell? Vidare har vi använt oss av kvalitativa semistrukturerade intervjuer vid intervjuförfarandena med tre chefer respektive tre anställda. Hersey och Blanchards situationsanpassade ledarskapsmodell samt Goffmans teori i boken "Jaget och maskerna" har vi använt som grund och inspiration i denna studie. Vi har funnit att omständigheter såsom en personalgrupps storlek samt organisationens budget och resurser inverkar på hur väl ledarskapet kan anpassas till de anställda. Även syftet med ledarens roll i sammanhanget och syftet med situationen påverkar hur ledarskapet utformas. Organisationens intressen och målbild påverkar också vilket ledarskap som tillämpas, något vi funnit att Hersey och Blanchard inte behandlar i sin situationsanpassade ledarskapsmodell. Ytterligare en olikhet vi funnit i förhållande till modellen är att de anställda i stort sätt upplevt ledarskapet som välanpassat, trots att ledarskapet inte utformats enligt vad Hersey och Blanchard förespråkar.

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Inledning: Svensk e-handel är under kraftig tillväxt. Att försäljningen har ökat kraftigt beror bland annat på att privatpersoner under de senaste 10 åren blivit bekvämare med att handla på Internet. I takt med att följningen ökat, har även konkurrensen ökat. För att företag ska kunna överleva och växa sägs MCS därför vara av stor betydelse. E-handeln innebär en relativt ny situation för företagen och innebär stor osäkerhet i form av snabba beslut, hög konkurrens och pressade priser. Formella styrmedel gör att företagen snabbt kan anpassa sig efter specifika situationer och uppnå ett bättre resultat. Syfte: Syftet med studien är att kartlägga förekomsten av formella styrmedel i e-handelsföretag för att se om de används och vilken betydelse de har. Vidare är syftet att identifiera kritiska situationsfaktorer inom e-handeln och utifrån dessa analysera hur de påverkar e-handelns formella ekonomistyrning. Genom att göra detta vill vi utveckla kunskap kring relationen mellan ekonomistyrning och situationsfaktorer inom e-handeln. Metod: Utifrån fyra faktorer; tillväxt, storlek, resultat och bransch, har vi valt ut tio stycken e-handelsföretag att göra en komparativ intervjustudie på. Med varje företag har en halvstrukturerad intervju genomförts. Slutsats: Några av de situationsfaktorer som påverkar den formella ekonomistyrningen är tillväxt, hög konkurrens, snabba beslut, strategi och storlek. Vidare påverkar även de olika faktorerna till stor del varandra. Formella styrmedel som används är planering och budgetering på kort sikt, både finansiella- och icke-finansiella mått och kalkyler till viss del. Strukturen och kultur påverkar även hur dessa används och vilken betydelse de har. / Introduction: Swedish e-commerce is in rapid growth. Sales have increased substantially due to individuals in the last ten years has become more comfortable to online-shopping. As the growth increases, the competition also becomes fiercer. For companies to survive and grow MCS is of great importance. E-commerce is a relatively new situation for companies and involves uncertainty in the form of quick decisions, high competition and price pressure. Formal controls enables companies to quickly adapt to specific situations and achieve better results. Purpose: The purpose of this study is to identify the existence of formal controls in e-commerce companies, to see if they are used and what impact they have. Furthermore, the purpose is to identify critical situation factors in e-commerce and from these analyse which impact they have on e-commerce formal controls. By doing this, we want to develop knowledge about the relationship between management control and situational factors in e-commerce. Methodology: Based on four factors; growth, size, performance and industry, we have selected ten e-commerce companies to make a comparative interview study on. With every company a semi-structured interview was conducted. Conclusion: Some of the situational factors that affect the formal controls are; growth, intense competition, rapid decisions, strategy and size. The situational factors also affect each other. Formal controls are used for planning and budgeting in the short term, both financial and non-financial measurements and also cost accounting to some extent. The structure and culture affects how they are used and what impact they have.

Zugl.: Diss.

<p>From the theories of Ackoff about system theory and how the management of an organization should perform, the concept of situation awareness is discussed. A short history of the situation awareness concept is given in the light of aviation and human cognition. Motives are given why it is of interest to explore the concept of SA. The Russian Theory of Activity (Activity Theory) is presented with the focus on the orientational activity to give the background for a comparison against the adaptive-learning management system as presented by Ackoff. As result a definition of SA is presented, the result of the comparison of theories is presented, discussed and summarized in a conceptual design and future research is presented.</p>

Cette étude s'est d'abord intéressée à la situation de sujets passifs face à la marchandisation progressive du monde contemporain et à la réaction qu'ils peuvent lui opposer. Nous avons choisi d'articuler cette problématique à l'analyse de la “construction de situations”, riposte des situationnistes face à la “société du spectacle”, dont Guy Debord est le théoricien bien connu. Nous y avons découvert l'importante influence du théâtre, notamment à travers le détournement des notions de “distanciation” (empruntée à Brecht), de “tragédie classique” et de “jeu”. Dès lors, le travail de recherche s'est engagé dans une généalogie de la notion de “situation”, en s'attachant, dans un second temps, à la situation dramatique. Il s'avère que la situation dramatique relie entre eux personnages, acteurs et spectateurs, fiction et réalité. L'exploration de leurs relations débouche, dans un troisième temps, sur la “situation existentielle”, en particulier sur le concept de “situation-limite” chez Karl Jaspers. L'un des principaux théoriciens de la situation dramatique, Étienne Souriau, y fait référence. Malgré leurs différences, une même intention traverse les situationnistes, le théâtre et la philosophie de l'existence de Karl Jaspers. Dans tous les cas, il s'agit d'appréhender la situation dans sa capacité à émanciper les sujets qui s'y trouvent aliénés. / This study first began by examining the situation of passive subjects faced with the gradual escalation of merchandising in the contemporary world, and then the way they were able to react against this trend. We chose to link this problematic to the analysis of “the construction of situations”, which was the Situationists’ response to Guy Debord’s famous theory of “the society of the spectacle”. Here we discovered the significant influence of the theatre, most notably in the appropriation of concepts of “alienation” (borrowed from Brecht), of “classical theatre” and of “acting”. From this point on, the piece of research engaged with a genealogy of the concept of “situation” by next addressing “dramatic situation”. Dramatic situation would prove to connect different characters, actors and spectators in both fiction and reality. Examining these relations served to open a third section to the project on the “existential situation”. This was informed by the concept of “limit-situations” in Karl Jaspers, as referred to by one of the most important theorists of in the field, Etienne Souriau. In spite of their differences, a common goal unites the Situationists when seeking to discern the role of theatre in the philosophy of existence, as described by Karl Jaspers. Every one of them aims to grasp situations in their capacity to emancipate alienated subjects.

L'objectif de la thèse est de proposer une modélisation de la transmission des compétences à travers l’étude des situations de travail. Le cadrage théorique de cette thèse repose sur la mise en perspective de la transmission des compétences dans le débat théorique ainsi que sur une tentative de conceptualisation de la transmission des compétences. Cet essai de conceptualisation se fonde sur les apports de la théorie de l’activité et sur les apports de la didactique professionnelle pour suggérer une lecture de la transmission des compétences centrée sur les situations de travail. La méthodologie de recherche, par une approche en recherche intervention, s’appuie sur un protocole combinant l’observation participante, l’entretien semi-directif et la capture de vidéo.Les résultats de la recherche effectuée dans le cadre d’une convention CIFRE au sein de l’entreprise SAFRAN AERO COMPOSITE invitent à considérer avec force l’impact des situations de travail dans les démarches de transmission des compétences dans le milieu industriel. Regroupés au sein d’une nomenclature, les résultats mettent l’accent sur l’ensemble des composants de l’activité ainsi que sur ses tensions. Les apports théoriques soulignent le rôle primordial que peut jouer la théorie de l’activité et la didactique professionnelle non seulement pour comprendre les mécanismes de transmission des compétences mais également pour identifier des leviers nouveaux actionnables par les gestionnaires des ressources humaines. Les apports managériaux se concentrent sur les solutions pratiques nécessaires à l’amélioration de la transmission des compétences / The aim of this doctoral thesis is to suggest a modeling for skill transmission through work situations. The theoritical framework of this doctoral thesis is based on the perspective of the transmission of skills in the theoretical debate and on an attempt to conceptualize the transmission of skills. This conceptualization attempt is based on the contributions of the Activity Theory and on the contributions of Didactique Professionnelle to suggest a reading of the transmission of skills centered on work situations. The research methodology, through an intervention research approach, relies on a protocol that combines participant observation, semi-directive interviewing and video capture. The results of the research carried out within the framework of a CIFRE agreement within the company SAFRAN AERO COMPOSITE invites to consider the impact of the work situations in the approaches of transmission of skills in the industrial sector. Grouped within a nomenclature, the results focus on all the components of the activity as well as on its tensions. Theoretical contributions emphasize the primordial role that can be played by the Activity Theory and Didactique Professionnelle, not only to understand the transmission mechanisms of skills but also to identify new leverages that can be activated by human resources managers. Managerial inputs focus on the practical solutions needed to improve the transmission of skills

L’objectif de cette thèse est de contribuer à la construction des connaissances sur l’inclusion scolaire d’élèves en situation de handicap en appréhendant le sens qu’ils accordent à leur expérience scolaire et leurs représentations de soi, eu égard à leur trajectoire scolaire. Nous avons rencontré 111 élèves en situation de handicap intellectuel, 50 filles et 61 garçons, âgés de 7 à 16 ans (M = 12,4 ; ET = 2,08) scolarisés en ULIS école (N = 44), ULIS collège (N = 49) et IME (N = 18) dans la région Midi-Pyrénées.Cinq outils complémentaires, tous adaptés pour les élèves rencontrés, ont été utilisés afin de recueillir nos données : le dessin de soi et du bonhomme (Hurtig & Rohrer, 1979), un Q-Sort de représentations de soi (Pierrehumbert & Rankin, 1990), le questionnaire « Les jeunes, l’école et leur avenir » (Prêteur, Constant & Féchant, 2004), le Dessin de l’Ecole Réelle et de l’Ecole Imaginaire (Caglar, 1983) et un bilan de savoir oralisé (Charlot, Bautier & Rochex, 1992).Nos résultats indiquent l’existence d’une pluralité de trajectoires scolaires révélatrices de la scolarisation d’élèves en situation de handicap. Les contextes actuels de scolarisation ainsi que les modalités d’enseignement sont des dimensions saillantes composant ces trajectoires. Le sens de l’expérience scolaire de ces élèves, qui se construit sur la base de ces trajectoires, souligne une importante valorisation des apprentissages intellectuels et scolaires. L’enseignant est perçu comme le principal agent de médiation entre les élèves et les savoirs. L’absence de relations aux pairs dans les activités récréatives est aussi constatée. L’étude des liens entre les variables met en exergue l’effet modérateur du sens accordé à leur expérience scolaire, notamment les apprentissages du quotidien, les rapports entretenus avec les enseignants, les représentations concernant les liens aux pairs et les contenus scolaires, dans la relation entre les trajectoires scolaires et les représentations de soi. / We would propose to contribute to knowledge building by directly investigate pupils concerns about their schooling experiment' sense and the development of self-representations in terms educational trajectories. Their characteristics and specificities would be highlighted. We met 111 intellectually disabled pupils, 51 girls and 60 boys, aged 7.5 to 16 years old (A (average) = 12.4 ; SD (standard deviation) = 2.08), schooled in ULIS based in primary school (N=44), ULIS based in secondary school (N=49) and in specialized environment (N=19), in the Midi-Pyrénées area. Five additional instruments, all suitable for pupils we met, have been used to collect our data : self-drawing and man drawing (Hurtig & Rohrer, 1979), a Q-Sort of self-representations (Pierrehumbert & Rankin, 1990), the questionnaire Les jeunes, l’école et leur avenir (Prêteur, Constant & Féchant, 2004), a drawing of real school and dreaming school Dessin de l’Ecole Réelle et de l’Ecole Imaginaire (Caglar, 1983) and an orally bilan de savoir (knowledge assessment) (Charlot, Bautier & Rochex, 1992).Our results show existence of plural educational trajectories which emphasize pupils in a disability situation’s schooling. Current context of schooling and methods of teaching are prominent dimensions of these trajectories. The sense of schooling experience, based on these trajectories, underlines higher values given to intellectual and schooling knowledge. The teacher is perceived as the principal mediating agent between pupils and knowledge. The lack of peer’s relations is also observed in their recreational activity. Studying links between the variables of our study disclose a moderated effect of sense given to their schooling experience, particularly in daily knowledge, relationships with teachers, link to peers and school content, in the relationship between educational trajectories and self-representation.

Comment s'approprie-t-on les règles de métier lors de l'année de stage de titularisation des enseignants débutants ? La conception traditionnelle de l'enseignement donne un rôle crucial aux experts et porte l'attention sur la place des collectifs professionnels dans le développement de l'activité des enseignants en formation. La sociologie a-t-elle à dire ou à redire face à cette approche ? Fruit d'une enquête de terrain sur trois établissements scolaires, nos résultats montrent que la relation dyadique classique, tuteur expert / novice, ne permet pas toujours aux novices de s'approprier les règles de métier. Cette configuration dyadique ne favorise pas le jeu de l'argumentation et de la contre-argumentation permettant via des accords ou des désaccords, l'apprentissage des règles. Ne conviendrait-il pas mieux d'introduire un tiers pour dépasser les freins statutaires qui brident la relation ? C'est ce que nous avons choisi de faire à partir d'une démarche expérimentale qui repose sur la mise en place d'une relation triadique. Le tiers élève le niveau de la contrainte de justification, et les conseils du tuteur ne peuvent plus s'appuyer uniquement sur l'avantage statutaire dont il bénéficiait jusqu'alors. Ce dispositif permet au stagiaire, au risque du conflit, engageant la nécessité d'opération de relativisation et de compromis, d'accéder aux règles enseignées par le tuteur, restées jusque-là inaccessibles. / How do the rules are appropriated during the year of preservice teachers? The traditional conception of education gives a crucial role to the experts and focuses on the place of professional collectives in the development of the activity of teachers in training. Does sociology have to say or complain about this approach? The result of our survey based of three schools, show that the classical dyadic relationship expert-tutor / novice does not always allow novices to appropriate the rules of trade. This dyadic configuration does not favor the game of argumentation and counter-argumentation through agreements or disagreements and get difficult the learning of rules. Would not it be better to introduce a third party to overcome the statutory obstacles breaking the relationship. This is what we choose to do from an experimental approach based on the establishment of a triadic relationship. The third party raises the level of the justifying constraint and the tutor's advice can no longer rely solely on the statutory advantage he enjoyed hitherto.