Denna studie har genomförts i syfte att undersöka påverkan på svenska banker under och efter införandet av direktivet Market in Financial Instruments Directive (MiFID) IIs transparenskrav. Efter reguljära brister på den finansiella marknaden utformades det nya direktivet för att stärka transparensen för samtliga aktörer. Problematiken finns i eventuella risker som uppstår vid ökat krav på transparens och hur bankerna hanterar dessa samt hur den asymmetriska informationen påverkas på marknaden mellan konsument och företag. Studien är av kvalitativ art och den primära källan består av intervjuer med utvalda aktörer på den svenska bankmarknaden. Resultatet visade att respondenterna ansåg att en gräns för öppenhet inte existerar och att transparens därmed inte kan bli för hög. Med de nya transparenskraven sågs en positiv effekt på marknadskvaliteten då ökade krav lett till högre disciplin och därmed minskad asymmetrisk information. Dock bekräftas teorin som menar att allmänheten kan översvämmas med för mycket information som i sin tur skapar osäkerhet hos konsumenten. Studien visade att majoriteten av respondenterna ansåg sig vara positiva över de förhöjda transparenskraven och ser stora möjligheter trots konstaterade risker. / This study was carried out with the aim of investigating the impact on Swedish banks during and after the introduction of the directive Market in financial instruments (MiFID) II transparency requirements. After regular shortcomings in the financial market, the new directive was designed to strengthen the transparency for all actors. The problem is the possible risks arising from increased transparency requirements and how banks act and how the asymmetric information is affected on the market between consumers and companies. The study is of qualitative art and the primary source consists of interviews with selected actors in the Swedish banking market. The result showed that respondents felt that a limit of transparency does not exist and that transparency can not be too much. With the new transparency directive, a positive effect on market quality was seen as increased demands led to higher discipline and thereby reduced asymmetric information.However, the theory confirms that the public can be flooded with too much information, which in turn creates uncertainty for the consumer. Studies showed that the majority of respondents felt positive about the increased transparency requirements and saw great opportunities even though risks were found.

The second-hand vehicle market in Europe, America, and Japan has entered the mature period and showed the following market characteristic: 1.Large business volume and has formed effect of scale Volume of the second-hand vehicle business in developed countries is lot more than the volume of the new vehicle. Generally it is above a time. According to the summary statistics, the annual sales volume of American second-hand vehicle is already 2.5 times of its new vehicle sales volume, and the year sales volume of Japanese second-hand vehicle has continuously surpassed its new vehicle the sales volume for many years. Just because of huge second-hand vehicle market, the developed countries can maintain a stable and huge market of new vehicle market. The related data demonstrated that, in a mature auto market, the average of vehicle discard cycle is about 8 - 12 years, but the average of vehicle renew cycle is less than 4 years. It is obvious that the second-hand vehicle market has quite a few of the spaces to operate. 2.Lower price and balance the supply and demand quantity in the market The 21st century has become "the automobile society". Cars have become an essential transportation for the modern families, but consumers from different levels have different demands for cars. Part of the consumers, which from middle class and above mainly buy new cars. They pay more attention to the reliability of the vehicles instead of the price. Most of them would consider changing cars after four or five years when the reliability of the vehicle go down and the chance of accidental breakdown increase. But consumers, which are below the middle class, then take the second-hand car as the main consideration. It is because of the lower price consideration. The price of second-hand car is about half of a new car. It's still quite reliable to be used for two to four years. And the loss of depreciation value would be smaller than buying a new car. Such second-hand car is still possible to be sold once more after using. The price then would be only 20%-30% of a new one. Those cars are mainly sold to the people who have lower income or students who have no income. Moreover there are some older cars that even cost less, which costs only about 5%-10% of a new car. Although it is a must to spend certain money on maintenance costs, the total cost would still be the lowest. It is quite beneficial. Therefore the supply of second-hand vehicle is a little bit larger than the demand quantity. The price of the second-hand cars is also lower. That is to balance the supply and demand quantity in the market 3.The system organize well and promote the market to be developed Second-hand vehicle markets in the developed countries generally form a perfect purchasing and selling system. And that promotes the organization of second-hand auction and wholesale. Governments formulate related laws of second-hand vehicle trading to protect consumer's rights and interests. Each organization runs fairly and effective and that makes the price in second-hand vehicle markets of the developed countries tend to be stable. Consumers do not have to worry about the loss which is from the unstable value of vehicles. The value of second-hand vehicles affects the guarantee value of vehicles and the stimulation of buying new cars deep and far. The steady of second-hand vehicle markets has made new- and second-hand vehicle markets promote fairly well. The generality of second-hand vehicle markets in developing countries are: 1. Less source and higher price Because of the average income of the developing countries is lot more lower than the developed countries, the proportion of wanting to buy second-hand cars is lot more than the developed countries. Furthermore, vehicle renew cycle of these countries is longer than the developed countries. Therefore make the source of second-hand vehicle to be limited. And the situation of supply is unable to meet the demand is very common. It has made the price of second-hand vehicle become lot higher than the developed countries. Even though, the price of second-hand cars is still lower than new cars. Considering from the economy, second-hand cars are still popular. 2. The trading is flexible and the management is tend to be ruled day by day The main characteristic of the second-hand vehicle markets in developing countries is flexible trading. There are direct personal trading, store trading, and also auction trading. Anyhow they regulate and run by the market rules themselves. Although the second-hand vehicles markets have go along for many years, it is still immature. There is still a certain difference in scale, price, market standard, and market operation from developed countries. These countries have already realized this and are now trying to improve. They are endeavoring to regulate the law and the policy and also coordinating with the new- and second-hand markets. They are trying to regulate the price and balance the supply and demanding. These have made their trading way become closer to the developed countries. Market of Taiwan has also followed this tendency to Europe, America, and Japan. Comparing with the developed countries, the second-hand vehicle markets in Taiwan starts later but develops faster. The trading way is like the Eight Immortals crossing the sea, each one showing his special prowess. The trading pattern and the legal rules are still not soundness. The disputes happen quite often. Before the information of a new car has not fully exposed, it is risky to purchase second-hand car. Consumer could just be the last white mouse for the sellers and can only pray for himself. Making a comprehensive survey of second-hand vehicle markets in developed countries like America and Japan, the policy, the law and the coordination between the new- and second-hand vehicle markets are the main reason to make second-hand vehicle markets become prosperous in these countries. Because of the legal standard is incomplete in our country. The problem of asymmetric information exists in the market. And that makes the rights and the interests of consumers can not be protected when they purchase cars. This research is mainly investigating via interviews, related documents, and theories, and also case study and analyze. Then induces the system which can promote consumers' rights and interests and also to make consumers' rights and interests to be protected. Therefore they can feel at ease buying cars and also trying to provide proprietors a way to make reference of the system establishment.

Purpose: The purpose of the study is to investigate whether executives can earn abnormal return by purchasing their own stocks and establish an understanding of possible aspects. Method: In order to observe if abnormal return exists on insider buy-transactions, a method triangulation with deductive approach has been made. An event study has been adopted to measure the transaction events. In addition, CAAR has been calculated with aid of a model. These values go through a significance test in order to support the hypothesis.  Theory: The study is grounded on the efficient market hypothesis, information asymmetry, behavioural finance and signalling. Furthermore, previous research has been adopted to support the study.  Conclusion: The results of the study show that executives for growth companies can profit from abnormal returns. / Syfte: Syftet med studien är att studera om personer i ledande ställning profiterar vid insynsförvärv av aktier samt skapa en djupare förståelse kring möjliga underliggande faktorer. Metod: För att studera om det uppstår abnorm avkastning vid insynsförvärv har en metodtriangulering med deduktiv ansats behandlats. Eventstudie har använts för att mäta transaktions händelserna. Vidare beräknas CAAR med hjälp av en modell. Dessa kommer sedan att signifikanstestas för att stödja hypoteserna.  Teori: Teorier som behandlas i denna studie är den effektiva marknadshypotesen, informationsasymmetrin, beteendebaserad finansiering och signaleringshypotesen. Vidare behandlas tidigare forskningar som ger stöd till studien. Slutsats: Resultaten för studien påvisar att personer i ledande ställning för tillväxtföretag kan profitera på abnorm avkastning.