In an ever-changing global environment, the ability to adapt to the current economic climate is essential for a company to prosper and survive. Numerous previous re- search state that better risk management and low overall risks will lead to a higher firm value. The purpose of this study is to examine if portfolio theory, made for fi- nancial portfolios, can be used to compose product portfolios in order to minimize risk and optimize returns. The term contingent hedge is defined as an optimal portfolio that can be identified today, that in the future will yield a stable stream of returns at a low level of risk. For companies that might engage in costly hedging activities on the futures market, the benefits of creat- ing a contingent hedge are several. These include creating an optimized portfolio that minimizes risk and avoid trading contracts on futures markets that would incur hefty transaction costs and risks. Using quantitative financial models, product portfolio compositions are generated and compared with the returns and risks profile of individual commodities, as well as the actual product portfolio compositions of publicly traded mining companies. Us- ing Modern Portfolio Theory an efficient frontier is generated, yielding two inde- pendent portfolios, the minimum risk portfolio and the tangency portfolio. The Black-Litterman model is also used to generate yet another portfolio using a Bayesian approach. The portfolios are generated by historic time-series data and compared with the actual future development of commodities; the portfolios are then analyzed and compared. The results indicate that the minimum risk portfolio provides a signif- icantly lower risk than the compositions of all mining companies in the study, as well as the risks of individual commodities. This in turn will lead to several benefits for company management and the firm’s shareholders that are discussed throughout the study. However, as for a return-optimizing portfolio, no significant results can be found. Furthermore, the analysis suggests a series of improvements that could potentially yield an even greater result. The recommendation is that mining companies can use the methods discussed throughout this study as a way to generate a costless contin- gent hedge, rather than engage in hedging activities on futures markets.

An in depth study of the pricing of Game contingent claims under a general diffusion market model, in which interest rate is non constant, is presented. With the idea of providing a few numerical examples of the valuation of such claims, we present a detailed description of a Bootstrapping procedure to obtain interest rate information from Swaps rates. We also present a Stripping procedure that can be used to obtain initial spot (caplet) volatility from Market quotes on Caps/FLoors. These methods are of general application and could be used in the calibration of diffusion models of interest rate. Then we show several examples of calibration of the Hull--White model of interest rates. Our calibration examples are later used in the numerical approximation of the value of a particular form of Game option.

近年來在運用雙界二分選擇法(double-bounded dichotomous choice elicitation method)來估計受訪者願付價格(willingness to pay)的研究中，不再僅局限於單一非市場財貨的探討。這類型的模型中雖然納入了相關性的考量，但並未考慮財貨的願付價格間可能存在明確的大小關係。再者，針對抗議性樣本，以往的作法多半是丟棄不用，然而這顯然不是理想的作法。本文中，我們將建構一個模型來同時探討這兩項議題。此外我們也利用「竹東及朴子地區心臟血管疾病長期追蹤研究」第五循環中「肥胖之願付價格」的資料來進行實證分析。結果顯示，居住於竹東、有工作、曾以特定活動控制體重的受訪者願意支付較高的金額來參加減肥療程。 / Recent studies on estimating WTP prices in terms of the double-bounded dichotomous choice elicitation method are no longer restricted to the situations that discuss only one non-market good. Although a couple of models have been proposed to take the correlations into consideration when multiple scenarios are presented to the respondents, none of them pay attention to the possibilities that the prices themselves might be inherently ordered. This is one of the issues that need to be addressed. Another is about the protest samples. A common but apparently problematic approach is simply ignoring them completely. In this study, we propose a model that is able to take care of both issues simultaneously. In addition, the model is used to estimate WTP values for data collected in CVDFACTS about two weight loss treatments. The results indicate that respondents residing in Chu-Dong County, employed, and ever tried any weight controlled programs are willing to pay a higher price for the new treatments.

This doctoral thesis addresses how mobile project workers; technical consultants working in projects, experience and deal with project-based work. The thesis consists of a compilation of five papers and an extended summary. It is based on three qualitative studies including methods like interviews, diaries, and observations. The thesis adopts and develops the conceptual lens of liminality. The results of this thesis show that mobile project workers use four different practices to deal with liminality at work. Furthermore, the thesis develops the framework of “liminality competence,” indicating that some mobile project workers are better at utilizing their liminal positions than others. The thesis also studies how liminality competence is developed and how formal training programs influence the liminal position for mobile project workers. / I denna avhandling studeras hur mobila projektarbetare, i detta fall teknikkonsulter som utför arbete i kundprojekt, upplever och hanterar projektbaserat arbete. Avhandlingen presenterar tre kvalitativa studier som bygger på intervjuer, dagboksanteckningar och deltagande observationer. Avhandlingen består av fem artiklar och en kappa. För denna studie används begreppet liminalitet som fångar den mobilitet och organisatoriska tvetydighet som föreligger i mobila projektarbetares arbetssituation. Avhandlingen utvecklar liminalitetsbegreppet ytterligare relaterat till liminella positioner i arbetslivet. Analysen identifierar fyra liminalitetspraktiker som mobila projektarbetare använder för att hantera sin arbetssituation. Dessutom utvecklas begreppet liminalitetskompetens. Detta begrepp används för att förstå hur mobila projektarbetare hanterar sin liminella arbetssituation och vilka skillnader som finns vad gäller förmågan att hantera liminalitet i arbetet. Avhandlingen undersöker också hur sådan kompetens utvecklas och hur formella lärandeprogram kan påverka liminalitetssituationen och liminalitetskompetensen hos mobila projektmedarbetare.

The concept of self-compassion has been gathering interest for researchers in recent years, as it appears to offer an array of benefits to wellbeing. This study investigated the potential role of self-compassion as a protective factor against disordered eating behaviors. It also examined the mediating roles of three potential variables: body dissatisfaction, perfectionism and contingent self-worth. Given modern representations of the female ideal, failure to achieve or adequately conform to such standards often poses psychological challenges for women and girls. Self-compassion encompasses kind, mindful self-treatment and may be an ideal protective factor against disordered eating. It has also been linked with lower body dissatisfaction, maladaptive perfectionism, and contingent self-worth. The present study found that dissatisfaction with one’s body, as well as a tendency to judge one’s personal worth based on appearance fully mediated the relationship between self-compassion and both restrained and emotional disordered eating respectively. Therefore, a self-compassionate attitude may serve as a protective factor against engaging in disordered eating vis-à-vis strengthening young women’s abilities to look at their bodies in a more compassionate and unconditionally accepting way. / text

The first paper examines the value of a statistical life (VSL) for out-of-hospital cardiac arrest (OHCA) victims. We found VSL values to be higher for OHCA victims than for people who die in road traffic accidents and a lower-bound estimate of VSL for OHCA would be in the range of 20 to 30 million Swedish crowns (SEK). The second paper concerns hypothetical bias in contingent valuation (CV) studies. We investigate the link between the determinants and empirical treatment of uncertainty through certainty calibration and find that the higher the confidence of the respondents the more we can trust that stated WTP is correlated to actual WTP. The third paper investigates the performance of two communication aids (a flexible community analogy and an array of dots) in valuing mortality risk reductions for OHCA. The results do not support the prediction of expected utility theory, i.e. that WTP for a mortality risk reduction increases with the amount of risk reduction (weak scope sensitivity), for any of the communication aids. The fourth paper presents a cost-benefit analysis to evaluate the effects of dual dispatch defibrillation by ambulance and fire services in the County of Stockholm. The intervention had positive economic effects, yielding a benefit-cost ratio of 36, a cost per quality-adjusted life-year (QALY) of € 13 000 and the cost per saved life was € 60 000. The fifth paper explores how different response times from OHCA to defibrillation affect patients’ survival rates by using geographic information systems (GIS). The model predicted a baseline survival rate of 3.9% and reducing the ambulance response time by 1 minute increased survival to 4.6%. The sixth paper analyzes demographic determinants of incident experience and risk perception, and the relationship between the two, for eight different risk domains. Males and highly educated respondents perceive their risks lower than what is expected compared to actual incident experience.

No description available.

In the late 1990s, many Western governments introduced policy programs to make information and communication technology (ICT) accessible to all. More than a decade later, however, such universal access is far from a reality. Between 2002 and 2005, in response to a request from a group of contingent workers who felt excluded from effective access to ICT training, a university research group on contingency conducted an applied research project in the form of a series of basic ICT courses. This qualitative dissertation both critically examines the training process and treats it as a case study for exploring broader issues of exclusion and resistance in the context of access to ICT. Specifically, it explores: (1) the symptoms of exclusion as they relate to ICT, social capital, and the community; (2) possibilities for resistance that can alleviate the conditions of exclusion; (3) the assumptions, theories, knowledge construction, policy methods, and processes that underlie the symptoms of exclusion; and (4) alternative assumptions, strategies, and activities that offer possibilities for resistive action. The case study provided an environment in which exclusionary and resistive experiences with access to ICT and training were examined from the perspective of excluded contingent workers, as supported by a university research group. A key finding is that generational behaviour in the domestic sphere erects barriers that contribute to the silencing and exclusion of immigrant contingent women; these barriers then reinforce similar patterns of exclusion in institutionalized ICT training. Another major finding is the need for alleviating the barrier that limited English skills create for ICT learning; addressing this issue must be part of any recommendations for curricular change. Guided throughout by a critical approach that focuses on the concept of ruling relations, this dissertation marshals critical knowledge gained from below in support of change by policymakers, educators, and community practitioners.

<p>The present mini-thesis seeks to explore and investigate the mathematical theory and concepts that underpins the valuation of derivative securities, particularly European plainvanilla options. The main argument that we emphasise is that novel models of option pricing, as is suggested by Hull and White (1987) [1] and others, must account for the discrepancy observed on the implied volatility &ldquo / smile&rdquo / curve. To achieve this we also propose that market volatility be modeled as random or stochastic as opposed to certain standard option pricing models such as Black-Scholes, in which volatility is assumed to be constant.</p>

Auditors review documented financial figures to test for their accuracy and materiality. Lawyers analyze evidential facts and records to build sound legal arguments. These parties work toward a mutual purpose: to present their clients as legitimate and compliant businesses. But what happens when the concrete facts upon which lawyers and auditors base their work are obscured by their inability to see into the future? In other words, how can these professions conjunctively handle potential future obligations brought about by contingent liabilities? This study will attempt to resolve the tensions that emerge between lawyers and auditors when tasked with estimating the likelihood and financial value of contingent liabilities. It considers the strict regulations set forth by the ABA and FASB and how each side might circumvent the guidelines to allow for better collaboration. Addressing a focal point of contention between the legal and financial professions for decades, this study will also look at past attempts at mediating the conflict as well as current proposals to alter the contingent liability disclosure process. Most importantly, it distinguishes itself from prior research by implementing firsthand arguments from professionals in each field to improve the cooperative landscape. Collectively weighing previously attempted solutions, current regulatory barriers, and professional guidance, this study proposes a three-step solution toward initiating reform between lawyers and auditors to enhance the visibility, precision, and ease of disclosing contingent liabilities.