Studiens syfte är att besvara frågan vilka attribut som föranleder att kommuner uppger att de har bostadsbrist. Genom att betrakta svenska bostadsbristen ur historisk kontext ges en bild av vad tidigare erfarenheter inombostadsplaneringen kan bidra med till dagens utveckling. De tidigare utföranden som beprövats sätts i kontrast till dagens tillvägagångssätt som i hög utsträckning tillskrivs liberalisering av bostadsmarknaden sedan 1990-talet. Med Boverkets Bostadsmarknadsenkät 2021 har Sveriges kommuner uppgett huruvida de uppleverbostadsbrist eller inte. Med logistisk regressionsanalys svarar studien på i vilken utsträckning olika faktorer somtas upp kopplade till Life Cycle Theory påverkar skillnader i efterfrågan på bostäder kommunerna emellan. Teorin lyfter de olika stadierna i livet som ger upphov till hushållens skilda behov. Detta yrkar en förståelse för hushållens situation och att bostadsbristens räddning inte enbart ligger i uppförandet av nya bostäder. Resultatet visar på att det i högst grad är demografiska faktorer som kan förklara variationer i svenska kommuners tendens att uppge om de har bostadsbrist. Däremot kan ökad upplevd bostadsbrist främst tillskrivas befolkningstillväxten, ekonomiska- och byggnadsrelaterade faktorer.

Bakgrund: Beslutskompetensen som beskriver hur bra individer är på att fatta beslut, blir allt viktigare inom nationalekonomin och resultat från samtida forskning inom beteendeekonomi ifrågasätter neoklassiska nationalekonomiska teorier. Detta ihop med att allt fler personer i Sverige får en sämre ekonomisk levnadsstandard under pensionsåldern lade grunden till varför vi valde att isolera analysen till sambandet mellan det privata sparandet och beslutskompetensen hos en individ. Syfte: Syftet med denna uppsats är att undersöka och analysera sambandet mellan kompetensen i individers beslutsfattande och en individs långsiktiga sparande utifrån ett beteendeekonomiskt perspektiv. Metod: En tidigare studie inom beslutskompetensens område där studenter (n=200) var fokusgruppen, utförd av JEDI-Lab vid Linköpings Universitet låg till grund för den kvantitativa analys som gjordes med hjälp av regressioner i det ekonometriska programmet EViews. De resultat som vi erhöll användes sedan för att analysera sambandet mellan individers beslutskompetens och deras aktiva val att spara. Resultat: Beslutskompetensen visade sig inte ha någon statistisk inferens på sparbeteende hos individer. Dess underkategorier hade blandade negativa och positiva samband till sparbeteende. Alla kategorier utom hur man följer beslutsregler saknade statistiskt signifikanta resultat. Det tycks föreligga andra faktorer i ett sparbeteende än enbart en individs beslutskompetens, variabler som kön, självkontroll och den kortsiktiga diskonteringsräntan hos en individ har större betydelse för sparbeteende. Vi tror att resultaten kan vara påverkade av att den undersökta populationen var studenter och därmed reflekterar den yngre delen av den svenska befolkningen och inte befolkningen som helhet. Det finns mycket forskning kvar att göra, då beslutskompetens är ett relativt nytt område inom ekonomi och behöver vidareutvecklas för att kunna ge mer precisa svar om varför individer tar de ekonomiska beslut som de gör.

Policyholder exercise behavior presents an important risk factor for life insurance companies. Yet, most approaches presented in the academic literature – building on value maximizing strategies akin to the valuation of American options – do not square well with observed prices and exercise patterns. Following a recent strand of literature, in order to gain insights on what drives policyholder behavior, I first develop a life-cycle model for variable annuities (VA) with withdrawal guarantees. However, I explicitly allow for outside savings and investments, which considerably affects the results. Specifically, I find that withdrawal patterns after all are primarily motivated by value maximization – but with the important asterisk that the value maximization should be taken out from the policyholders’ perspective accounting for individual tax benefits. To this effect, I develop a risk-neutral valuation methodology that takes these different tax structures into consideration, and apply it to our example contract as well as a representative empirical VA. The results are in line with corresponding outcomes from the life cycle model, and I find that the withdrawal guarantee fee from the empirical product roughly accords with its marginal price to the insurer. I further consider the implications of policyholder behavior on product design. In particular – due to differential tax treatments and contrary to option pricing theory – the marginal value of such guarantees can become negative, even when the holder is a value maximizer. For instance, as I illustrate with both a simple two-period model and an empirical VA, a common death benefit guarantee may indeed yield a negative marginal value to the insurer.

The aim of this study is to examine the dividend policy behavior of firms listed at Stockholm Stock Exchange from 2005-2011. We examine the behavior from a Market Cap (firm size) and industry classification (group characteristics) perspective due to the structure of Stockholm Stock Exchange, by using non-parametric methods and Lintner`s model. The conclusions are as follows: (i) Market Cap listing and industry classification matters for the propensity to pay dividends and we observe that firms in Mid Cap and Small Cap were more likely to pay dividends in 2011 than in 2005. (ii) Neither Market Cap listing nor industry classification affects the firms’ payout ratio. (iii) Market Cap listing affects the firms´ level of paid DPS (dividend per share) but not significantly when we compared firms in Large Cap to firms in Mid Cap. Industry classification affects the firms´ level of paid DPS. (iv) Current EPS (earnings per share) and past DPS are important factors for deciding current DPS when firms were classified into Market Caps, but not for all firms when they were classified into industries. (v) Firms follow regular but unstable dividend policies despite Market Cap listing. Firms in the Health Care industry follow irregular and unstable dividend policies while the firms in the other industries follow regular but unstable dividend policies.

The purpose of this thesis is to investigate the life cycle stages of the chosen gazelles in Sweden and identify their effectiveness related to the stages. Furthermore, we study whether the given characteristic of the gazelle companies correspond to the suggested characteristics of the given theoretical framework. Gazelles, as the outstanding performers of both financial profits and job creators of our society, they are always struggling to sustain growth and satisfy market needs in order to maintain their prestigious status. Therefore, it is critical for them to access their abilities as well as constraints of the current organizational structures and we seek the solutions to these problems through the organizational life cycle theory perspective. Our study focuses on the Dagens Industri’s gazelle award winners that are carefully evaluated by the strict criteria it provides. Also, we revisit the various previous studies in the field of the organizational life cycle and effectiveness in order to provide the foundation for our analysis. In order to serve our purpose, we study 26 gazelles from Sweden in dept by reviewing their annual reports and official websites and provide the reader with quantities data research that are self-administrated concerning the different attributes of the life cycle stages and effectiveness. In conclusion, we find that the majority of the Swedish gazelle companies we have studied correspond to the second stage of the life cycle model which focuses on human relations model as an effectiveness area. However, these firms demonstrate unique effectiveness that genuine SMEs do not have, such as high focus on R&D and harmony between flexibility and control in their organizational structure.

This study examines the relationship between cash flow rights and dividend payout policy of listed family firms in Taiwan, an economy characterized by a predominance of family-controlled firms. Dividend payout levels are important because they are crucial to governing the firm and managing its investments. The empirical results show that at a low level of controlling families¡¦ cash flow rights, the threat to lose control any time makes controlling families claim more in dividends. This yields a positive relationship between dividend payout and the cash flow rights of controlling families. Meanwhile, at a moderate level of controlling families¡¦ cash flow rights, the entrenchment effect creates a negative relationship. Finally, at the very highest level of controlling families¡¦ cash flow rights, excessive firm-specific risk again yields a positive relationship. This nonmonotonic relationship between controlling family cash flow rights and dividend payout also holds for financially mature firms that have high earned to contributed capital mix.

The budget is shown to be the most prioritized management accounting tool for companies with scarce resources, while at the same time it is criticized for being time consuming and ineffective. This study uses life cycle theory as a framework to investigate how the budgets can be used in a more efficient and effective way, depending on what life cycle stage the company is in. The purpose of this study is to investigate how commonly budgets are used throughout the life cycle stages of IT companies in Sweden, and whether there is a difference in what reasons to budget are considered the most important in different stages. By using previous research made on life cycle theory and the reasons to budget as a foundation, this study collects the data using a quantitative method where a survey is sent to a sample of IT companies in Sweden. The answers to the survey lead to results about the budget use, what life cycle stage the respondents consider their company to be in, and how important ten different reasons to budget within the areas control, planning and evaluation are to the individual companies. The results show that there is a low budget use among companies in the birth stage, and that the budget use is high for companies in the growth, maturity and revival stages. The increasing budget use follows the increasing number of employees through the stages. The study finds that in general there are no major differences through the stages in what budget reasons are chosen to be most important; control is overall the most important purpose that the budget fulfills. Furthermore, there are some reasons to budget that have been assigned low values of importance across all the stages. Staff evaluation and encouraging innovative behavior are not considered important by the responding companies.

Submitted by Renata Lopes (renatasil82@gmail.com) on 2016-07-04T18:04:19Z No. of bitstreams: 1 hermesaugustooliveirarabelo.pdf: 1597707 bytes, checksum: 60df1d97256f77c6b5615469af3f3435 (MD5) / Approved for entry into archive by Adriana Oliveira (adriana.oliveira@ufjf.edu.br) on 2016-07-13T16:22:06Z (GMT) No. of bitstreams: 1 hermesaugustooliveirarabelo.pdf: 1597707 bytes, checksum: 60df1d97256f77c6b5615469af3f3435 (MD5) / Made available in DSpace on 2016-07-13T16:22:06Z (GMT). No. of bitstreams: 1 hermesaugustooliveirarabelo.pdf: 1597707 bytes, checksum: 60df1d97256f77c6b5615469af3f3435 (MD5) Previous issue date: 2012-04-27 / CNPq - Conselho Nacional de Desenvolvimento Científico e Tecnológico / O presente trabalho tem como objetivo verificar os determinantes da estrutura de capital em diferentes estágios de desenvolvimento das empresas sob a visão da Life Cycle Theory de Berger e Udell (1998). Esta teoria ressalta as diferentes fontes de financiamento que são utilizadas pelas empresas em diferentes momentos de sua vida. O banco de dados utilizado no trabalho foi retirado do software Economática, do qual foi possível observar dados dos balanços patrimoniais das empresas de capital aberto listadas na Bovespa entre os anos de 1996 a 2010. Dessa forma, o presente estudo utilizou a metodologia de análise de dados em painel através do Modelo de Regressão Logit Multinomial e do modelo logit Binomial. De modo a considerar a correlação entre as variáveis e reduzir o número delas no modelo, foi utilizada a Análise de Componentes Principais (PCA). Os resultados encontrados na pesquisa sugerem que a mudança na principal fonte de financiamento é influenciada por fatores como liquidez, colateral, risco e idade. Em relação à idade da empresa, há evidências de que, para empresas de mais de 30 anos de abertura de capital, a probabilidade de a empresa alterar sua principal fonte de financiamento é menor quando comparada a empresas mais jovens. No modelo logit multinomial, os resultados encontrados evidenciam um efeito positivo das empresas enquadradas como de médio e grande porte sobre a probabilidade de utilizar empréstimos de curto e longo prazo e financiamento interno quando comparadas com as empresas de pequeno porte. Em relação à idade desde a abertura de capital, os resultados da pesquisa mostram que empresas com mais de 30 anos apresentaram maior probabilidade de escolher financiamento para giro e fundos internos (lucros acumulados) quando comparadas com empresas que abriram capital mais recente e utilizam crédito de fornecedores. Apesar de alguns dos resultados estarem em conformidade com o apregoado por Berger e Udell (1998), a pesquisa evidencia muitos aspectos relacionados à Pecking Order Theory. / This study aims to focus on capital structure determinants in different stages of development in the entrepreneurial environment under Life Cycle Theory of Berger and Udell (1998). This theory emphasizes different funding sources which are used by companies in different cycles of their lives. The data were generated and processed according to the Brazilian Economática software. Balance sheets provided by public corporations and listed at Bovespa Stock Exchange during 1996-2010 were considered for analysis. Panel Data are important points in methodological plan. Indeed, Multinomial Logit and Binomial Logit models were used to investigation. Development process effects by corporations upon their own financing were detailed and looking for adding the correlation among variables and minimizing their effects, the Principal Component Analysis (PCA) was attained for diagnosis. Results suggest changing on the main funding source, influenced by factors such as liquidity, collateral and risk. Regarding firms' age, there is evidence that companies with more than thirty years of initial IPO are less likely to change their main source of funding. According to the multinomial logit model, results suggest that large companies are more likely using short-term loans and internal funding than trade credit that those classified in small businesses. Although some results are consistent to those claimed by Berger and Udell (1998), research provides some aspects related to Pecking Order Theory.

The purpose of this empirical research is to evaluate the relationship between credit constraints and household risky assets in China. The life-cycle hypothesis theory and household portfolio choice theory is the basis of the research. Using a probit model, we find out that credit constraints do not have a clear impact on the probability of households to hold risky assets. Furthermore, the coefficients between age and risky assets are non-linear. Households in urban regions have a high positive coefficient with risky assets. As for now, the literature is missing theories on the relationship between credit constraints and household financial risky assets in China. Thus, this study will enrich the literature of household financial assets allocation by using a questionnaire survey from CHFS (China Household Finance Survey).

This thesis entitled "Theory of the organization life cycle and its use in small business' handles in the theoretical part with two well known theories of organizations, dealing with development and monitoring of common characters in their lives. In the practical part there is application of chosen theory to selected small engineering-oriented business, and also practical knowledge compared with those described in theory. Due to the special characteristics of the firm is then the next part of the work devoted to devising of appropriate strategies that could be used if a company will continue in development to avoid a crisis period, which may occur in its life cycle. The last part is the specification of possible risks that should the company expect during the development and also devising of preventive measures.