Background: Studying insider trading is difficult due to its sensitive and delicate nature. Therefore it is hard to gauge the extent of such activities. This problem has resulted in a fierce debate whether it should be prohibited or not. Using a method where the effect on monopolistic information usage can be isolated insider trading can be monitored. Such an event is a profit warning. Purpose: This paper examines whether insider trading exist for companies making a profit warning between year 2003 and 2007 on the Stockholm Stock Exchange. Furthermore the aim with the study is to contribute to the debate on the insider trading legislation. Method: The study’s purpose is achieved through an event study studying the cumulative abnormal return as well as average daily returns during the thirty days preceding the warning for a sample of thirty companies. Since profit warnings should be completely random and as such almost impossible for the market to know in advance, a significant abnormal return can only be explained with insider trading. The abnormal returns were calculated using the Capital Asset Pricing Model since it is the most widely used model. Conclusion: For the chosen time frame, when testing on a 95% significance level, the study found a significant abnormal return during the last 10 days of the event window but not for the entire period of thirty days. The daily average return for the thirty companies were significant for six of the thirty days within the event window. Two of them were included in the last ten day period with a confirmed significant abnormal return which might suggest that on average insider trading tend to occur during these days. The other four was discarded due to sample issues. Since the study was limited to a period of four years extending the results to a period other than tested should be made with great care since conditions may differ over time. Concerning the current debate on the insider legislation, the findings can be used by both sides. Either to argue for a strengthening of the law or to question its existence.

In-vehicle warning systems are today mainly using the visual and auditory channels for presentation. As cars get more and more sophisticated the demand on new ways of presenting information increases. This report investigates if the sense of touch, in form of a vibro-tactile seat is a prospective channel for warning information. To achieve the objectives the tactile seat was developed, implemented and tested in a simulator environment. The final result is a complete tactile seat with a set of warnings which correspond with different critical situations. The tactile seat made it possible to conduct a simulator-based experiment including comparison with a visual head-up warning presentation. The experiment proved significant difference in discovery distance in the comparison between the no system and the tactile warning system. The overall conclusion is that a vibro-tactile warning display in the driver’s seat is an excellent way of presenting certain warning information. The tactile channel is especially favorable when fast reaction time is essential. Further work could include designing and testing a combined tactile and visual system.

<p>Background:</p><p>Studying insider trading is difficult due to its sensitive and delicate nature. Therefore it is hard to gauge the extent of such activities. This problem has resulted in a fierce debate whether it should be prohibited or not. Using a method where the effect on monopolistic information usage can be isolated insider trading can be monitored. Such an event is a profit warning.</p><p>Purpose:</p><p>This paper examines whether insider trading exist for companies</p><p>making a profit warning between year 2003 and 2007 on the Stockholm</p><p>Stock Exchange. Furthermore the aim with the study is to contribute</p><p>to the debate on the insider trading legislation.</p><p>Method:</p><p>The study’s purpose is achieved through an event study studying the</p><p>cumulative abnormal return as well as average daily returns during</p><p>the thirty days preceding the warning for a sample of thirty companies.</p><p>Since profit warnings should be completely random and as such</p><p>almost impossible for the market to know in advance, a significant</p><p>abnormal return can only be explained with insider trading. The abnormal returns were calculated using the Capital Asset Pricing Model</p><p>since it is the most widely used model.</p><p>Conclusion:</p><p>For the chosen time frame, when testing on a 95% significance level,</p><p>the study found a significant abnormal return during the last 10 days</p><p>of the event window but not for the entire period of thirty days. The</p><p>daily average return for the thirty companies were significant for six</p><p>of the thirty days within the event window. Two of them were included</p><p>in the last ten day period with a confirmed significant abnormal</p><p>return which might suggest that on average insider trading tend</p><p>to occur during these days. The other four was discarded due to</p><p>sample issues. Since the study was limited to a period of four years</p><p>extending the results to a period other than tested should be made</p><p>with great care since conditions may differ over time. Concerning the</p><p>current debate on the insider legislation, the findings can be used by</p><p>both sides. Either to argue for a strengthening of the law or to question its existence.</p>

<p>In-vehicle warning systems are today mainly using the visual and auditory channels for presentation. As cars get more and more sophisticated the demand on new ways of presenting information increases. This report investigates if the sense of touch, in form of a vibro-tactile seat is a prospective channel for warning information. To achieve the objectives the tactile seat was developed, implemented and tested in a simulator environment. The final result is a complete tactile seat with a set of warnings which correspond with different critical situations.</p><p>The tactile seat made it possible to conduct a simulator-based experiment including comparison with a visual head-up warning presentation. The experiment proved significant difference in discovery distance in the comparison between the no system and the tactile warning system.</p><p>The overall conclusion is that a vibro-tactile warning display in the driver’s seat is an excellent way of presenting certain warning information. The tactile channel is especially favorable when fast reaction time is essential. Further work could include designing and testing a combined tactile and visual system.</p>

published_or_final_version / abstract / Linguistics / Master / Master of Arts in Applied Linguistics

The U.S. construction industry continues to rank as one of the most dangerous work environments when compared to other industrial sectors. Construction companies are required to record and report lagging safety leading indicators including fatalities, injuries, and illnesses. Safety leading indicators provide an opportunity to identify construction site hazards and hazardous worker behavior before a fatality, injury, or illness occurs. Further improvements are also necessary for construction safety through the use of technology. The application of advanced or emerging technologies can have a significant role in enhancing construction worker safety performance. This research seeks to report and analyze safety leading indicators, specifically near misses. Furthermore, technologies capable of providing alerts in real-time to construction equipment operators and ground workers during hazardous proximity situations are reviewed. A testing method for proximity detection and alert devices for the construction environment is presented. Operator visibility, including impacts of design components, is also measured and analyzed. One major contribution of this research is the creation of a near miss reporting program ready for implementation for construction companies. Other research contributions include understanding of impacts of design on operator visibility, scientific evaluation data of proximity sensing technology, and a test method for proximity detection and alert system deployed in the construction environment. Research findings can be disseminated for improved construction worker safety education and training.

Syftet med denna studie är att diskutera konceptet triggervarning och dess betydelse för litteraturundervisningen i den svenska skolan. Detta har gjorts dels genom en kritisk diskursanalys på 17 utvalda svenska artiklar om triggervarning i undervisningen och dels genom en litteraturanalys av Christina Wahldéns debutroman Kort kjol. Resultatet visade på en förskjutning från sakfrågan ”bör triggervarningar användas i undervisningen?” till vems verklighetsuppfattning som är den sanna samt att det till viss del redan triggervarnas i gymnasieskolor runt om i Sverige även om termen triggervarning inte används.

I examine three issues related to internal control reporting by non-accelerated filers. Motivation for the three studies comes from the fact that Section 404 of the Sarbanes-Oxley Act (SOX) continues to be controversial, as evidenced by the permanent exemption from Section 404(b) of SOX granted to non-accelerated filers by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Dodd-Frank Act also requires the SEC to study compliance costs associated with smaller accelerated filers. In the first part of my dissertation, I document that the audit fee premium for non-accelerated filers disclosing a material weakness in internal controls (a) is significantly lower than the corresponding premium for accelerated filers, and (b) declines significantly over time. I also find that in the case of accelerated filers remediating clients pay lower fees compared to clients continuing to report internal control problems; however, such differences are not observed in the case of non-accelerated filers. The second essay focuses on audit report lag. The results indicate that presence of material weaknesses are associated with increased audit report lags, for both accelerated and non-accelerated filers. The results also indicate that the decline in report lag following remediation of problems is greater for accelerated filers than for non-accelerated filers. The third essay examines early warnings (pursuant to Section 302 disclosures) for firms that subsequently disclosed internal control problems in their 404 reports. The analyses indicate that non-accelerated firms with shorter CFO tenure, presence of accounting experts on the audit committee, and more frequent audit committee meetings are more likely to provide prior Section 302 warnings. Overall the results suggest that there are differences in internal control reporting between the accelerated and non-accelerated filers. The results provide empirical grounding for the ongoing debate about internal control reporting by non-accelerated filers.

This thesis examines the initial and long-term market reactions following reversed profit warnings on the Nordic markets. Furthermore, it investigates if firm size and trading volume can explain the magnitude of the market reaction. The study is based on 118 reversed profit warnings announced on the Nordic markets during 2010-2019 applying an event study approach, measuring abnormal returns. To examine if firm size and trading volume affects the market reaction, this study uses a regression analysis to complement the event study. Results show a significant initial market reaction, confirming that the market is genuinely surprised by a profit warning. In accordance with the efficient market hypothesis, the market is also seen to correct its expectations based on the new information. The initial reaction is more substantial for smaller firms and higher trading volume is seen to increase abnormal returns. Our long-term results show a significant reversal in share price, indicating that there is an overreaction to reversed profit warnings. The long-term regression results show that neither firm size nor trading volume explain the reversal in share price.

Detta projekt ska resultera i direktiv för framtida utveckling av ljudsignaler och varningsljud i bil. Signalerskarakteristiska drag undersöks för en djupare förståelse för de parametrar som ger upphov till specifika känslor ochbeteenden. Signaler från Saab 9-5 modifieras för att passa befintliga teorier om design av ljudsignaler. Dessajämförs med originalsignaler samt signaler från Saab 9-3, BMW 3-serie och Audi A6 i en användarstudie.Resultaten visar på möjligheten att utveckla mindre irriterande signaler vid lägre ljudnivåer med bibehållenallvarsnivå. Resultaten pekar även på att ökad allvarsnivå kan fås med kortare periodtid och signallängd, ökat antalrepetitioner och frekvenser samt ökad upplevd tonstyrka (på sonskalan). Resultat från SAM-skalan visar att bådeoriginal- samt modifierade signaler tenderar att placera sig enligt teorin (högre aktivering och negativitet för signalerpå höga allvarsnivåer och vice versa). Studien visade även att utförligare arbete krävs för att stärka Saabs identitetnär det gäller ljudsignaler och att detaljerade studier om perception och förarbeteende krävs vid framtagning av nyasignaler. / This project aims to result in guidelines for future development of auditory signals in cars. The characteristics ofdifferent types of signals are investigated for a greater understanding of what parameters in auditory signals thatgive rise to certain feelings or behaviour. Auditory signals from Saab 9-5 are modified to fit existing theories aboutauditory alerts. These are then compared to their original signals and signals from Saab 9-3, BMW 3-series and AudiA6 in a user study. The results show that there is a possibility to design signals with no significant difference inurgency that are seen as less annoying at lower sound levels. Urgency seems to depend negatively on sound cadenceand signal length and positively on number of repetitions and frequencies and also loudness. SAM scale resultsshowed that both original and modified signals tend to move according to desired theories (higher activation andlower valence for high urgency signals and vice versa). The study also showed that further work needs to be put onstrengthening Saabs brand identity concerning auditory signals and that detailed studies on driver perception andbehaviour is needed when developing new signals.