The fair-value hierarchy used in financial accounting has been criticized because of its complexity being the reason for several accounting issues. This study examines the underlying factors affecting decision makers in the process of fair-value accounting of financial instruments within the fair-value hierarchy. Research has been conducted through in-depth interviews with representatives of five Swedish banks. The findings have been analysed with a frame of reference built on prior judgment and decision making research. The results of the study show that the extent of the affecting factors vary between different banks depending on the banks' individual prerequisites.

With the recent financial crisis that have happened and the global move towards fair value accounting financial institutions such as the IASB saw fit to increase the mandatory disclosure requirements by implementing IFRS 13 to regulated fair value accounting in IFRS. The implementation of IFRS 13 means that many of the old standards in regards to fair value will be replaced, for example investment properties reporting under IAS 40. Furthermore IFRS 13 redefines the classification system for assets and liabilities.   The purpose of this study is to investigate whether these changes have any influence on investment decisions. This has been done by adopting a qualitative abductive descripto-explanatory approach to our research, and our empirical data was gathered through semi-structured interviews with academics and audit professionals.   The analysis of our empirical data suggests that the implementation of IFRS 13 and its increased disclosure requirements have been useful to investor’s decision making. IFRS 13 accomplishes this through its increased clarity in financial reporting. However investors should be mindful whilst investing in companies utilizing Level 3 valuation techniques because they use estimates of unobservable inputs and because such estimates are hard to control they are prone to bias, error, and manipulation.

Accounting / M.Com. (Accounting0

A avaliação de empreendimentos do ponto de vista do cliente final tem grande importância no esforço de melhoria da habitação de interesse social, podendo auxiliar na avaliação de resultados, na identificação de erros e acertos frente aos objetivos e ações do projeto. Este tipo de avaliação pode criar oportunidades de aprendizagem sobre os usuários e produtos, contribuindo para aumentar a geração de valor em futuros empreendimentos. No entanto, a diversidade e dinâmica de programas habitacionais e a falta de clareza nos objetivos dos empreendimentos podem dificultar o processo de avaliação. Com freqüência, as avaliações realizadas nos empreendimentos de habitação de interesse social têm como foco os atributos do produto, sem estabelecer uma conexão com os objetivos esperados. Apenas com a clara identificação dos resultados esperados é possível avaliar o sucesso destas empreendimentos, de forma a desenvolver soluções que atendam melhor as necessidades e expectativas dos usuários. O objetivo desta pesquisa foi propor um modelo para estruturar as avaliações de empreendimentos habitacionais de interesse social a partir na percepção dos usuários e adaptável aos diferentes programas habitacionais, com foco na geração de valor. Os conceitos utilizados nesta pesquisa provém principalmente das áreas de marketing e desenvolvimento do produto. O desenvolvimento do modelo partiu da clara identificação do produto habitação de interesse social de forma ampla, sendo adotada uma hierarquia de valor que vincula os atributos às suas conseqüências de uso e aos objetivos esperados. A pesquisa foi dividida em três grandes etapas. A primeira etapa teve como objetivo compreender os programas habitacionais existentes, assim como sobre o processo de desenvolvimento de empreendimentos habitacionais de interesse social e o produto resultante. Na segunda etapa, o modelo de avaliação foi desenvolvido e aprimorado durante os três estudos empíricos nos quais foram avaliados três empreendimentos de programas habitacionais distintos. Na ultima etapa, o modelo desenvolvido foi avaliado, buscando expor as conexões teóricas e contribuições da solução. As principais contribuições da pesquisa são referentes ao modelo de avaliação desenvolvido, que estrutura a avaliação de empreendimentos habitacionais de interesse social, e também ao processo de aplicação do mesmo. / The evaluation of projects from the perspective of the final client is very important for the effort of improving social housing, making it possible to support the assessment of results, and the identification of errors and achievements in relation to project objectives and actions. This type of evaluation may create opportunities for learning about customer and product, and improving value generation in future projects. However, the diversity and dynamics of housing programs and the lack of clarity in project objectives may hinder the evaluating process. Often, the evaluation of social housing projects is focused on product attributes, without establishing a clear connection with the expected objectives. Only by identifying what are the expected results it is possible to assess project success, in order to develop solutions that fulfil the needs and expectations of final users. The aim of this research work is to propose a model for structuring the evaluation of social housing projects focused on value generation, based on the perception of final customers, which is adaptable to different housing programs. The concepts used in this research come from the areas of marketing, and product development. The development of the model starts with the clear identification of the extended social housing product, adopting a value hierarchy that links product attributes to the consequences of its use and intended goals of the project. The research study was divided into three major stages. The first stage aimed to understand existing housing programs, the social housing product development process and the resulting products. In the second stage, the evaluation model was developed and improved in the three empirical studies, in which three projects from different social housing programmes were evaluated. In the final stage, the proposed model was evaluated in order to discuss the theoretical connections and contributions of the solution. The main contributions of this study are concerned with the model itself, which establish a structure for evaluating social housing programs, as well as a process for implementing it.

Accounting / M.Com. (Accounting0

A avaliação de empreendimentos do ponto de vista do cliente final tem grande importância no esforço de melhoria da habitação de interesse social, podendo auxiliar na avaliação de resultados, na identificação de erros e acertos frente aos objetivos e ações do projeto. Este tipo de avaliação pode criar oportunidades de aprendizagem sobre os usuários e produtos, contribuindo para aumentar a geração de valor em futuros empreendimentos. No entanto, a diversidade e dinâmica de programas habitacionais e a falta de clareza nos objetivos dos empreendimentos podem dificultar o processo de avaliação. Com freqüência, as avaliações realizadas nos empreendimentos de habitação de interesse social têm como foco os atributos do produto, sem estabelecer uma conexão com os objetivos esperados. Apenas com a clara identificação dos resultados esperados é possível avaliar o sucesso destas empreendimentos, de forma a desenvolver soluções que atendam melhor as necessidades e expectativas dos usuários. O objetivo desta pesquisa foi propor um modelo para estruturar as avaliações de empreendimentos habitacionais de interesse social a partir na percepção dos usuários e adaptável aos diferentes programas habitacionais, com foco na geração de valor. Os conceitos utilizados nesta pesquisa provém principalmente das áreas de marketing e desenvolvimento do produto. O desenvolvimento do modelo partiu da clara identificação do produto habitação de interesse social de forma ampla, sendo adotada uma hierarquia de valor que vincula os atributos às suas conseqüências de uso e aos objetivos esperados. A pesquisa foi dividida em três grandes etapas. A primeira etapa teve como objetivo compreender os programas habitacionais existentes, assim como sobre o processo de desenvolvimento de empreendimentos habitacionais de interesse social e o produto resultante. Na segunda etapa, o modelo de avaliação foi desenvolvido e aprimorado durante os três estudos empíricos nos quais foram avaliados três empreendimentos de programas habitacionais distintos. Na ultima etapa, o modelo desenvolvido foi avaliado, buscando expor as conexões teóricas e contribuições da solução. As principais contribuições da pesquisa são referentes ao modelo de avaliação desenvolvido, que estrutura a avaliação de empreendimentos habitacionais de interesse social, e também ao processo de aplicação do mesmo. / The evaluation of projects from the perspective of the final client is very important for the effort of improving social housing, making it possible to support the assessment of results, and the identification of errors and achievements in relation to project objectives and actions. This type of evaluation may create opportunities for learning about customer and product, and improving value generation in future projects. However, the diversity and dynamics of housing programs and the lack of clarity in project objectives may hinder the evaluating process. Often, the evaluation of social housing projects is focused on product attributes, without establishing a clear connection with the expected objectives. Only by identifying what are the expected results it is possible to assess project success, in order to develop solutions that fulfil the needs and expectations of final users. The aim of this research work is to propose a model for structuring the evaluation of social housing projects focused on value generation, based on the perception of final customers, which is adaptable to different housing programs. The concepts used in this research come from the areas of marketing, and product development. The development of the model starts with the clear identification of the extended social housing product, adopting a value hierarchy that links product attributes to the consequences of its use and intended goals of the project. The research study was divided into three major stages. The first stage aimed to understand existing housing programs, the social housing product development process and the resulting products. In the second stage, the evaluation model was developed and improved in the three empirical studies, in which three projects from different social housing programmes were evaluated. In the final stage, the proposed model was evaluated in order to discuss the theoretical connections and contributions of the solution. The main contributions of this study are concerned with the model itself, which establish a structure for evaluating social housing programs, as well as a process for implementing it.

A avaliação de empreendimentos do ponto de vista do cliente final tem grande importância no esforço de melhoria da habitação de interesse social, podendo auxiliar na avaliação de resultados, na identificação de erros e acertos frente aos objetivos e ações do projeto. Este tipo de avaliação pode criar oportunidades de aprendizagem sobre os usuários e produtos, contribuindo para aumentar a geração de valor em futuros empreendimentos. No entanto, a diversidade e dinâmica de programas habitacionais e a falta de clareza nos objetivos dos empreendimentos podem dificultar o processo de avaliação. Com freqüência, as avaliações realizadas nos empreendimentos de habitação de interesse social têm como foco os atributos do produto, sem estabelecer uma conexão com os objetivos esperados. Apenas com a clara identificação dos resultados esperados é possível avaliar o sucesso destas empreendimentos, de forma a desenvolver soluções que atendam melhor as necessidades e expectativas dos usuários. O objetivo desta pesquisa foi propor um modelo para estruturar as avaliações de empreendimentos habitacionais de interesse social a partir na percepção dos usuários e adaptável aos diferentes programas habitacionais, com foco na geração de valor. Os conceitos utilizados nesta pesquisa provém principalmente das áreas de marketing e desenvolvimento do produto. O desenvolvimento do modelo partiu da clara identificação do produto habitação de interesse social de forma ampla, sendo adotada uma hierarquia de valor que vincula os atributos às suas conseqüências de uso e aos objetivos esperados. A pesquisa foi dividida em três grandes etapas. A primeira etapa teve como objetivo compreender os programas habitacionais existentes, assim como sobre o processo de desenvolvimento de empreendimentos habitacionais de interesse social e o produto resultante. Na segunda etapa, o modelo de avaliação foi desenvolvido e aprimorado durante os três estudos empíricos nos quais foram avaliados três empreendimentos de programas habitacionais distintos. Na ultima etapa, o modelo desenvolvido foi avaliado, buscando expor as conexões teóricas e contribuições da solução. As principais contribuições da pesquisa são referentes ao modelo de avaliação desenvolvido, que estrutura a avaliação de empreendimentos habitacionais de interesse social, e também ao processo de aplicação do mesmo. / The evaluation of projects from the perspective of the final client is very important for the effort of improving social housing, making it possible to support the assessment of results, and the identification of errors and achievements in relation to project objectives and actions. This type of evaluation may create opportunities for learning about customer and product, and improving value generation in future projects. However, the diversity and dynamics of housing programs and the lack of clarity in project objectives may hinder the evaluating process. Often, the evaluation of social housing projects is focused on product attributes, without establishing a clear connection with the expected objectives. Only by identifying what are the expected results it is possible to assess project success, in order to develop solutions that fulfil the needs and expectations of final users. The aim of this research work is to propose a model for structuring the evaluation of social housing projects focused on value generation, based on the perception of final customers, which is adaptable to different housing programs. The concepts used in this research come from the areas of marketing, and product development. The development of the model starts with the clear identification of the extended social housing product, adopting a value hierarchy that links product attributes to the consequences of its use and intended goals of the project. The research study was divided into three major stages. The first stage aimed to understand existing housing programs, the social housing product development process and the resulting products. In the second stage, the evaluation model was developed and improved in the three empirical studies, in which three projects from different social housing programmes were evaluated. In the final stage, the proposed model was evaluated in order to discuss the theoretical connections and contributions of the solution. The main contributions of this study are concerned with the model itself, which establish a structure for evaluating social housing programs, as well as a process for implementing it.

全民健康保險實施，促使醫院走向非價格競爭的經營模式，「創新」將會是醫院維持競爭力的利器。 本研究透過兩兩成對比較之問卷調查方式了解影響醫療產業創新之組成要素權重，並進一步經由訪談之方式針對醫療產業創新性智慧資本之價值加以衡量，為個案醫院建立一套創新性智慧資本的聯合價值層級衡量系統。 考量院方之與創新相關之核心價值及願景的情況下，個案醫院最看重的是人力資本，其次依序是財務資本、結構資本及關係資本，代表在創新策略為導向的情況中，人力資本更是醫院最重要的無形資產。推導出個案醫院創新性智慧資本之價值為0.380，處於醫療產業的個案醫院的創新性智慧資本之價值較低。 聯合價值層級衡量系統除了解關鍵成功因素外，針對該因素實際成果進行探討，其價值結果可以提供管理者於資源投入時重要的參考依據與策略執行力及權重認知的檢視。 / The hospitals tend to non-price competition because of the National Health Insurance. “Innovation” will be hospitals’ sharp weapons to maintain their competitive advantage. This thesis conducted the case study under the hospital industry to confer two themes. The first is the weights of determinants of innovation within hospital industry via pair-comparison in a questionnaire. The last is the value of innovative intellectual capital within hospital industry through interviews. This thesis developed a new measurement system of innovative intellectual capital within hospital industry-- conjoint value hierarchy. Considering the core value and vision, the most capital is human capital for object of the case study. the next are financial capital and structural capital. The last one is relational capital this order implicated that human capital is the most important intangible asset in the case the innovation strategy as a consideration. The value of innovative intellectual capital in object of the case study is low, only 0.380. The measurement system, conjoint value hierarchy, cannot only understand key success factors, but also consider the value of actual result of the key success factors. The value result can provide management a important reference basis for resource input and review of execution of strategy and of weight perception.

Value is fundamental in business-to-business marketing, where marketing revolves around the term value. Understanding the value of offering through customers' eyes is important for business success. Due to the subjective nature of value, it's imperative to understand the value based on the customer's individual interpretation. In this context, perceived value plays a central theme for this study, and analyzed in the terms of benefits and sacrifices. But to capture the broader picture of customers' value functional, social, and emotional perceived values were considered. The research questions were formed to investigate the kind of values that customers perceive, and another question was framed to investigate the multidimensionality of values. In order to answer the research questions, a qualitative descriptive approach was applied and through judgmental sampling, respondents were chosen. The five potential customers were interviewed through semi-structured technique. The authors applied the model “value hierarchy” to investigate the customer's perceived value which consists of three layers: attributes, consequences and objects; it shows correlation among the three layers. The laddering technique was used in connection with hierarchy, through this technique authors understood how consumers were able to perceive value in each layer. The tangibilization strategy was used to provide cues that helped build mental construct of services in customer’s minds. Customers assess the services by evaluating its value. The value from the consequences were perceived multidimensionally by customers depending on the attributes. Customers perceived functional value in aspects of saving time and ease of workload. They were able to perceive value socially, when some features helped manage stress among the employees and through provision of these services to end customers saw an increase in firm awareness in the market. Customers also felt a feeling of happiness when using certain attributes especially among the end customers thereby bringing emotional value into the picture. All the different values perceived helped reach their respective end-goals.  The model found useful to investigate the customer value sequentially, also evaluating current customer’s needs. The study revealed that the attributes aren't chosen without a purpose. Customers perceive some benefits from the attributes that help achieve their specific needs. The study was confirmation about integrating the model with different value dimensions helped determine the connection of these dimensions with customer value. The study ends with presenting managerial, theoretical and practical implications and provides ground for future research in exploring other framework of values, followed by limitations of the study.

In this thesis a general framework and accompanying guidelines for how to classify financial instruments within the fair value hierarchy (included within IFRS 13) is presented. IFRS 13 introduces a broad and loosely defined regulation of how to classify a financial instrument which leaves room for misinterpretation and uncertainties. In this thesis the pricing of financial instruments and behaviour of the market data used as inputs in the models has been investigated. This is to give better insight into what is classified as significant market data, how it is used and how it is approximated. Instruments that have been investigated are autocalls, swaps, European options and Asian options. The result is presented as general recommendations for how to classify the specified instruments with clearer boarders introduced between the levels in the hierarchy. Methods and deductions introduced in the thesis could also further be implemented in classification of closely related financial instruments but has been limited in this thesis due to time restrictions.     Nyckelord på svenska IFRS, Finansiella instrument, Klassificering, Fair value, Fair value hierarchy, Autocall, Swap, Europeisk option, Asiatisk option, Implicit volatilitet, Korrelation, Marknadsaktivitet, Räntesatser / I denna uppsats är ett generellt ramverk och medföljande riktlinjer för hur man klassificerar finansiella instrument inom fair value hierarkin (inkluderad i IFRS 13) presenterat. IFRS 13 introducerar en bred och löst definierad regulation om hur klassificering finansiella instrument ska gå till som lämnar rum för feltolkningar och oklarheter. I denna uppsats har prissättningen av finansiella instrument och beteende av marknadsdata som används i modellerna undersökts. Detta ger en bättre inblick i vad som klassificeras som signifikant marknadsdata, hur den används och hur den kan approximeras. Instrument som har undersökts är autocalls, swaps, europeiska optioner och asiatiska optioner. Resultatet presenteras som allmänna rekommendationer för hur man klassificerar de angivna instrumenten med tydligare gränser som införts mellan nivåerna i hierarkin. Metoder och slutsatser som är presenterade i uppsatsen kan även vidare användas vid klassifikation av liknande finansiella instrument men har i denna avhandling begränsats på grund av tidsskäl.