本論文以國內1997-2006年之上市櫃集團為研究對象，探討集團企業內相互轉投資所造成的市值高估現象及其對公司價值的影響，並深入各集團分子企業探討不同轉投資標的對公司價值之影響。實證結果顯示集團企業內各分子企業相互轉投資的確造成集團市值高估之現象，而投資人對於該現象，給予集團企業整體負向評價。此外，就集團內各分子企業而言，轉投資於上市櫃公司由於資訊透明度相較於轉投資於非上市櫃公司為佳，故對於公司價值負面影響較不嚴重；而轉投資於集團內其他分子企業相較於投資集團外企業，由於關係企業間之交易揭露仍不透明，操縱可能性較高，故對於公司價值呈負面影響，後兩者實證研究都再次證明資訊透明度與公司價值間之正向關係。 / This study explores the double counting effect and the relationship between that effect and the corporate value resulting from cross-holding among firms in a conglomerate, and also explores the relationship between different type of investing objects and the corporate value by using a sample of companies listed in Taiwan Stock Exchange and Over the Counter during 1997-2006. Our empirical analysis indicates that cross-holdings among firms in a conglomerate resulted in overvaluation of the group, and investors responded to them negatively. In addition, member companies in the conglomerate investing in companies listed in Taiwan Stock Exchange or Over the Counter did not so negatively influence the corporate value as compared to investing in companies not listed in Taiwan Stock Exchange and Over the Counter mainly because of the information transparency. Furthermore, the information among conglomerate trading is still opaque and the possibility of manipulation is higher, so investment within the conglomerate as compared to outside companies has negative impact on corporate value. The above findings both proved a positive relationship between information transparency and corporate value.

Denna uppsats har som syfte att undersöka om det går att förändra en organisationskultur genom värdegrundsarbete, samt om det är en metod som kan användas för att utmana den mansdominerade kulturen inom räddningstjänsten. För att uppfylla detta syfte har vi utgått från frågeställningarna Hur tolkar brandmännen värdegrunden på Räddningstjänsten Karlstadsregionen? samt Kan värdegrundsarbete vara ett sätt att utmana den mansdominerade kulturen inom Räddningstjänsten?. Den tidigare forskning som gjorts kring värdegrunder är inriktad mot skolverksamhet i första hand vilket gör det intressant att undersöka möjligheten att använda detta som en metod även inom andra verksamheter. Uppsatsen inleds med en teoretisk bakgrund kring organisationskultur, värdegrund samt mansdominerad kultur. Studien är av kvalitativ karaktär och innebär att vi har utfört åtta semistrukturerade intervjuer med brandmän på Räddningstjänsten Karlstadsregionen. Att valet föll på denna organisation beror på att de nyligen har tagit fram en värdegrund som styrdokument och har sedan 2012 arbetat med att implementera den i organisationen. Med hjälp av vår teoretiska referensram har vi analyserat resultatet som framkommit av intervjuerna. Resultatet av vår studie visar att det finns en tvetydighet i tolkningen av värdegrunden som delvis kan bero på att ledningen brustit i sitt arbete att förmedla värdegrunden på ett framgångsrikt sätt, samt delvis för att det finns en ovilja bland brandmännen att ta den till sig. Vår undersökning har visat att värderingarna i organisationen behöver synliggöras för att värdegrundsarbete ska kunna användas som en del i arbetet för att förändra en organisationskultur. Inom en mansdominerad kultur som räddningstjänsten är det även viktigt att synliggöra och problematisera den jargong som finns för att kunna nå en förändring.

歷經國內外多起知名企業的財務弊案後，各國政府及投資人開始關注公司的資訊透明度，企業也意識到資訊透明度對於企業永續經營的重要性，因此，本研究主要探討資訊透明度對於企業價值之影響。研究貢獻在於以具有專業和分析能力之分析師預測行為作為判斷企業資訊透明度之依據，進而探究其與企業價值之關聯性。本研究以2008年到2013年台灣上市(櫃)公司為樣本，以企業價值(Tobin’s Q)為應變數，資訊透明度相關之變數(分析師追蹤意願、分析師盈餘預測偏誤與分析師盈餘預測離散性)為主要解釋變數，在控制公司成長面、獲利面、風險面與公司規模因素，並固定產業和年份，利用追蹤資料迴歸模型(panel regression)來進行分析。 實證結果分為兩部分，（1）代表資訊透明度之變數－分析師預測意願、分析師預測精準度及分析師預測離散性與企業價值具有顯著正向關係。另利用前述之結果，本研究自行建立一個衡量企業透明度的模型，以整合性資訊探討資訊透明度對於企業價值的影響，實證結果顯示（2）資訊透明度與企業價值間確實具有顯著正向關係，結果支持良好的資訊透明度，有助於公司治理，長期間更能夠提升企業價值與永續經營。此外，本研究以整合資訊衡量企業資訊透明度，相較於單一資訊更為完善，也提供企業利害關係人及一般大眾不同面相去了解企業的資訊透明度，進而保護其權益。 / Since the occurrences of financial scandal, issues surrounding corporate governance and information disclosure have been widely discussed in these few years. Not only have government and investors started paying more attention on information transparency, but more and more firms have noticed that well corporate governance could help its sustainable development. The main purpose of this study is to examine the influences of information transparency on corporate value. Based on the samples of Taiwan listed firms for the period from 2009 to 2013, this study employs panel regression model with Corporate value (Tobin’s Q) as the dependent variable against various combinations of explanatory variables (analysts following, analysts’ earnings forecast bias and analysts’ earnings forecast derivation). The results of this research reveal that (1) the firms with high corporate value significantly have more analysts following, less analyst's earning forecast error and the greater forecast derivation. And by using an integrated model to do further analysis, the evidence shows that (2) higher information transparency could improve the corporate governance, gain more corporate value and benefit sustainable development in the long term. What’s more, instead of unitary source, this research measures corporate information transparency via integrated sources to ensure credibility, and provides various angles for corporate stakeholders and the general public to learn further more about corporate information transparency and be able to protect their rights.

生技產業為典型知識產業，同時也因醫藥研發的突破，而使國人受惠享受健康的生活，惟因與人類健康相關，涉及複雜的知識領域、道德倫理、法規管理、產業合作及商業化等過程。近年來國內新設生技公司莫不以開發新藥為職志，且都有其獨特經營哲學與營運模式來達成其企業終極目標。 本研究以國內開發新藥的生技公司為研究對象，採個案研究方法透過分析個案公司之過去策略發展，實地訪問經營團隊以描述策略形態及勢態，發展策略地圖及平衡計分卡四大構面具體內容並進而以相關係數驗證各策略衡量指標與策略目標間之關聯性，最後試圖連結PwC企業價值報告中價值平台，據以建構個案公司內部策略態勢與策略管理報導。 本研究之主要研究結論包括： 一、 個案公司已有明確的企業願景，亦已積極分析未來的策略形態，除定期性財務資訊外，應系統化建置一策略管理報導，使組織資源聚焦，形成共識，改善組織策略執行力。 二、 經由驗證相關分析，現階段策略形態的部分衡量指標間呈現顯著正相關，亦有大多數衡量指標因產品商品化時間過長尚無明確關聯，故個案公司應持續追縱現行策略衡量指標因果關聯狀況。 三、 個案公司可運用內部策略管理報導具體呈現策略活動執行結果，建立評估策略目標達成程度之價值管理報表，成為內部策略檢討會議之共同基礎，利用策略思考、澄清與共識之達成。而長期系統化之分析比較，除可提供更具攸關內部價值報告及管理資訊外，亦可作為外部報導企業價值資訊的基礎。 / Pharmaceutical industry is a typical knowledge industry. At the meantime, people can enjoy healthy life because of the breakthrough of medicine research and development. However, this industry is closely connecting to human health, thus there are various and complex domains involved, including knowledge, ethics, laws and regulations, collaboration of industry and commercialization, and etc. In recent years, local newly established pharmaceutical companies set their goals in developing new drugs, and have their own unique operating philosophy and operating models in order to reach their ultimate corporate goals. The object of this study is a local new drug developing pharmaceutical company. Through the analysis of strategic development of the past based on the methodology of case study and describing strategic posture and strength via interview with the managing team, the strategic plan and contents of four scopes for balanced scorecard are developed. Further, the relationship between strategic measurement indicators and strategic objectives are verified through correlated coefficients. And lastly, linking to the value platform of PwC Corporate Value Reporting in order to construct internal strategic move and strategic managerial reporting of the case company. The conclusions of this study including: 1. Case company has clear business vision, and is actively analyzing future strategic form. In addition to periodic financial information, the case company should construct a strategic managerial reporting in order to focus organizational resources, draw consensus, and improve organizational strategic executive. 2. Based on the correlation coefficient analysis, there is positive correlation among partial measurement indicators of current strategic posture. However, there is no clear correlation for most of the measurement indicators due to long span for product commercialization. The case company should continuously follow up the correlation for current strategic measurement indicators. 3. The case company can apply its internal strategic managerial reporting to specifically present the results of its operations, and establish value managing statements for assessing the achieving of strategic targets, to formulate the common basis for internal strategic review meeting, and utilize strategic thinking, clarification and reaching of consensus. In addition, long-term systematic analysis and comparison can be used not only for more relevant internal value reporting and managerial information, and be the basis for external corporate value reporting.

Doctor of Philosophy / Department of Industrial and Manufacturing Systems Engineering / Bradley Kramer / This research shows that industry and company related performance indicators enhance the business valuation process by providing a broader, more encompassing view of overall corporate health and a better understanding of improvement opportunity areas within a company. To incorporate performance indicators in the business valuation process, new methodologies are required to integrate the non-financial and soft data with the typical financial information used in business valuation. This requires a “re-think” of the standard business valuation process and the exploration and application of other methods and analytical techniques. The results of this research are the definition of a problem type and the development of a new business valuation process. The problem structure has as inputs industry specific performance metrics grouped into three primary areas Production Processes, Products/Services and Marketability and Management, a fuzzy logic model with fuzzy and approximate relationships between performance metrics and financial information and crisp financial information as output. The framework for a fuzzy logic model was developed and is used to approximate relationships and model a non-linear environment. The resulting crisp financial information is then input and integrated into the traditional business valuation process. The process was demonstrated with an example production company and with data from two regional airlines. A step-by-step example of the process was provided using the production company example to demonstrate how the results are generated and integrated with DCF business valuation. Heuristics to identify areas to improve company performance were described. Two regional airlines, individually and combined, were tested with actual data using the original fuzzy logic model structure and then the original fuzzy logic model structure was revised and new results generated. Tuning the model showed an improvement in the business valuation process performance. The benefits from this research include the definition of a new class of problems and a process to solve problems of this nature. The insights gained from this research can be applied in major disciplines such as accounting, business and finance, engineering and decision theory.

Could shareholder primacy, with its assumed short-termist practices, have had its day when it comes to managerial activity centered on creating corporate value? Many business and opinion leaders appear to take this position, not least Jack Welch who famously declared 'shareholder primacy is the dumbest idea in the world!' Indeed, in a post-Crash economy has a wider stakeholder focus with a longer-term outlook superseded any business notions of shareholder primacy and wealth maximization? This research examines these possibilities through a consideration of the narrative companies produce, such as annual reports. From this corpus material, an assessment is made of whether UK managers' perceptions about corporate value generation changed over the period covering the worldwide financial crisis, with respect to their relative favouring of shareholders and stakeholders. The corpus of narrative material used is visualized as a conceptual space in which a conversation reflecting perceptual bias to the generation of corporate value occurs. To explore such corpuses, in order to compare narratives at points either side of the 2008 Crash, a new methodology was devised called narrative staining. Hence, a detection and visual mapping over the period was made possible of managers' changing perceptions concerning primacy (shareholder or stakeholder orientation) with its mediation by termism (a short or long-term bias). Termism is also originally conceived as part of a larger temporal category, which includes a sense of urgency to act (urgent versus non-urgent) that is similarly examined. The investigation reveals that over time perceptual change about value creation happened, though in unanticipated ways. Companies pre-Crash were often short-term stakeholder oriented then moved post-Crash to a long-term shareholder orientation. A focus for this study was the corporate domain, consisting of a selection of FT250 companies. However, managerial perceptions about corporate value creation are influenced not simply by the conversation of the corporate domain but rather by a multi-actor conversation taking place throughout the business environment. To comprehend this effect, the research mines further corpuses that comprise the UK's regulatory domain (hard and soft law), the press (Financial Times and other newspapers), and relevant peripheral stakeholder organizations (including the Confederation of British Industry, the Institute of Directors, and the Trades Union Congress). These organizations demonstrated more complex, unforeseen, perceptual effects as the financial crisis proceeded with many aligning according to their political or business agenda, which also impacted any sense of urgency to act they had. There appears to be no previous attempt at an extensive and multivariate analysis of this nature. And the findings challenge prevalent characterizations of shareholder and stakeholder behaviour. Moreover, the research shows that utilizing a wide set of stakeholder corpuses acts a viable proxy for broader financial perspectives amongst UK organizations. The technique of narrative staining therefore provides insights, hitherto inaccessible, for assessing and consolidating large-scale perceptual bias regarding value creation across the economy. The technique also has significant potential for other applications.

本研究共包含三篇論文，首先修正von Hagen and Hepp(2000)所建立模型分析政府的財源轉移之風險分散與重分配動態效果。整體而言，補助與協助收入或統籌分配款所產生的所得與稅收風險分散或重分配效果相當有限，且各分區(北、中、南與全區)的結論差異甚大，顯示財源轉移發揮的效率不足。統籌分配款對於改善稅收的風險分散與重分配上，效果優於補助與協助收入。各縣市取得的補助與協助收入或統籌分配款高於長期所得與稅收風險分散與重分配所應對應的額度，造成資源浪費。就全區而言，前幾期稅收(所得)風險分散變化，可作為短期調整補助與協助收入(統籌分配款)的依據；統籌分配款與稅收的風險分散、補助與協助收入或統籌分配款與稅收重分配均存在雙向因果關係。 其次，在分析勞動者的休閒時間選擇時，本文修正跨期選擇模型，考慮勞動者持有投資組合與採取避險措施，並面對租稅問題下，以導出休閒時間方程式。實證上採用混合估計法針對12種樣本產業及兩種不同休閒時間衡量方式進行估計，結果顯示不同休閒時間衡量方式，影響估計結果甚鉅；金融市場的變化與波動攸關休閒時間變動：國內外利率、匯率與遠期匯率等與投資組合報酬相關的變數，在多數情況下顯著地影響休閒時間變動，且各變數對於休閒時間的影響程度，在工業中的次級產業大於服務業中的次產業。此外，採行周休二日制度確實改變制度採行前後的休閒時間，惟在三個工業次產業上則不明顯。 最後，修正Bo and Sterken (2002) 所建立的最適動態模型，分析公司價值不確定與租稅措施對海運廠商投資的影響，經由最大化公司價值導出影響台灣海運公司投資的三種不確定來源與避險措施，並進行實證估計。實證結果顯示，不確定的衡量方式攸關投資函數的估計結果，以指數加權移動平均標準差衡量不確定時，其估計結果優於以GARCH(1,1)衡量不確定，隱含廠商較在乎可預期波動對投資的影響。一般而言，廠商利率與原油價格的波動增加，均不利於公司投資，其中以原油價格不確定對於投資的影響最大，其效果約略與廠商利率相當。其次，影響海運公司投資最重要的三項因素均分別為BDI、負債與廠商利率，顯示價格與債務規模的重要性更甚於利率。此外，三種公司價值不確定來源對投資的影響，在多數個別公司之間並無顯著的差異，有助於採行總體財金政策以刺激投資。 / This dissertation contains three articles. First I revise the models set up by von Hagen and Hepp (2000) to analyze the dynamic effects of the Aid and Assistance and central government’s Tax Redistribution Fund on income (or tax) risk sharing and redistribution. For all the counties in Taiwan area the effects are tiny, but those are diverse among the counties in each Taiwan sub-area. The Aid and Assistance and central government’s Tax Redistribution Fund actually obtained by each county are larger than the amounts required to maintain long-term risk sharing and redistribution effects. These all imply that fiscal transfer is inefficiency. The effects of the central government’s Tax Redistribution Fund on risk sharing and redistribution are larger than those of Aid and Assistance. The central government can adjust the Aid and Assistance based on the change of earlier-period ax (income) risk sharing effect. Moreover, the existence of significant short-run interaction between the central government’s Tax Redistribution Fund and tax risk sharing, the Aid and Assistance and tax redistribution. Secondly, I revise intertemporal choice model by considering portfolio selection, hedging and taxation problems to derive economic agent’s leisure time equation. In empirical study, we focus on twelve sample industries and two different leisure time measurements, then adopt pooled estimation to estimate leisure time equation. Empirical results show that different measurement of leisure time influences estimation outcomes tremendously. Furthermore, the financial variables affecting portfolio return, including domestic and foreign interest rates, exchange rate and forward rate almost have remarkable effect on leisure time. Finally, the effect of each explanatory variable on leisure time is larger in industry than in service industry. Finally, I revise the optimal intertemporal model, constructed by Bo and Sterken (2002), by maximizing corporate value to derive three uncertainty sources and hedging influencing shipping-firm investment. Empirical evidences show that it is relevant for the estimation results to adopt which methods to measure the uncertainty. The outcomes derived from taking the Exponential Weighted Moving Average model to measure uncertainty are better than those from adopting the GARCH(1,1) model. Generally, as the volatilities in firm’s interest rate and crude oil price increase, firm investment decreases and the effect of crude oil price uncertainty on investment, the largest among the four effects, is nearly equal to that of firm interest rate on investment. Furthermore, BDI, debt and firm interest rate are the most important variables influencing firm investment. Finally, the effects of three uncertainty sources on investment are almost indifferent among the ten shipping-firms.

資訊服務業為知識經濟下的代表性產業,其企業價值的創造可以說完全來自 於智慧資本的累積與影響,而對於台灣經濟而言,資訊服務業亦是新興的成長動 力來源。伴隨著網路科技的發達,近期資訊服務業中亦產生異於過去單方向進行 軟體開發及推廣的平台商業模式(Platform Business Model),舉凡電子商務、 線上遊戲、社群網站及通訊軟體皆在此範疇內,而根據 Chesbrough(2006)的開 放式創新理論,平台型企業是最能適應環境變化,亦能最快、最有效率達到創新 的公司,擁有更強的競爭優勢。 因此,本研究主要探討在資訊服務業中,平台型商業模式如何影響企業在智 慧資本上的投資,以及如何影響企業價值。本研究以台灣上市(櫃)資訊服務業 近 2012-2014 年的資料為樣本,利用追蹤資料迴歸模型(Panel Regression), 控制公司成長面、獲利面、風險面及公司規模,並固定年份所帶來的時間效果, 探討在產業當中平台商業模式對智慧資本投資以及企業價值的影響。 實證結果分為三個部分,(1)選擇平台作為商業模式,能帶來更高的企業價 值,並且顯著異於其他非平台資訊服務同業。(2)資訊服務業的關鍵智慧資本為 人力資本,然而資訊服務業中的平台模式更強調結構資本的重要性,相較之下非 平台的資訊服務同業在顧客資本的投資能帶來更高的企業價值。(3)對於平台模 式而言,人力資本與結構資本之交互作用,能為企業價值帶來顯著性的綜效,但 非平台模式在各個智慧資本間則沒有綜效產生。 / As a representative industry of knowledge economy, all the value creation of Information Service value is from the Intellectual Capital(IC). Besides, for the economy of Taiwan, the sector is also the new engine of economic growth. With the development of the Internet, information service industry in recent years has produced a different business model, transformed from “single direction software development” to “multi-sided market platform”, which included e-commerce, online games, social media and instant message service. According to the theory of Open Innovation by Chesbrough(2006), this kind of platform business is the most able to adapt to environmental changes, also the fastest, most efficient achieve innovative company, and has a stronger competitive advantage. This study focuses on the platform business model and IC of Information Service Industry, and tries to decode how platform business model affects investment in IC, and how it affects corporate value. The study collected the listed Taiwan Information Service companies in 2012-2014 for data sample, uses Panel Regression Model with the control of the company's growth, profitability, risk and size, and fixed the year Effect, to investigate the effects of the platform business model for IC investment and the impact on corporate value. The evidence can be divided into three sections: (1) In the industry, platform business model can lead to higher corporate value, which also significantly different from other internet information services peers; (2) Human Capital is key IC for Information Service Industry. However, platform business emphasizes more on the importance of Structural Capital, compared with other peers of the industry which investment of Customer Capital would lead to higher corporate value; (3)The interaction of Human Capital and Structural Capital can bring significant synergy on corporate value for platform business, compared with other peers of the industry which have no synergy between ICs on corporate value.

Submitted by Thaís Malheiros Assumpção (thaismalheiros1983@gmail.com) on 2017-05-18T17:53:46Z No. of bitstreams: 1 2017-05-15 Diss Thais.pdf: 2818930 bytes, checksum: 90a535e19962c8866c9749b2bd1f0597 (MD5) / Approved for entry into archive by Pamela Beltran Tonsa (pamela.tonsa@fgv.br) on 2017-05-18T17:58:57Z (GMT) No. of bitstreams: 1 2017-05-15 Diss Thais.pdf: 2818930 bytes, checksum: 90a535e19962c8866c9749b2bd1f0597 (MD5) / Made available in DSpace on 2017-05-18T19:58:13Z (GMT). No. of bitstreams: 1 2017-05-15 Diss Thais.pdf: 2818930 bytes, checksum: 90a535e19962c8866c9749b2bd1f0597 (MD5) Previous issue date: 2017-04-25 / O propósito desta pesquisa foi examinar a apropriação de valor gerado por certificações ambientais para edifícios de escritórios. Para responder a essa pergunta, primeiramente examinou-se o universo brasileiro desse tipo de selo por meio de pesquisa documental, que mostrou que o selo LEED é o mais utilizado em edificações de escritórios. Em seguida, entrevistas semi-estruturadas foram conduzidas com três grupos de stakeholders desse mercado: empresas usuárias, incorporadoras e gestores de fundos de investimentos imobiliário. Como ferramenta para triangular os dados primários, entrevistou-se um consultor especializado no processo de certificação de empreendimentos. Os resultados sugeriram que os três grupos apropriam o valor gerado pelo LEED por meio de menores despesas operacionais; empresas usuárias e incorporadoras identificaram que essa apropriação também se dá por meio de ganhos reputacionais; e incorporadores e gestores de fundos de investimentos apontaram o acesso a locatários que exigem essa certificação. Além disso, as incorporadoras citaram maior taxa de ocupação dos empreendimentos; e as empresas usuárias mencionaram acesso a novos conhecimentos, vantagens advindas de uma melhor qualidade ambiental interna e gestão mais profissional do edifício. Esse último fator, não identificado na literatura, constitui uma contribuição relevante dessa pesquisa, já que acrescenta à literatura de green buildings um novo aspecto a ser investigado. / The purpose of this research was to examine the appropriation of value generated by environmental certifications for office buildings. To answer this question, we first examined the Brazilian universe of this type of certification through documentary research, which showed that LEED is the most used certification in office buildings. Then, semi-structured interviews were conducted with three groups of stakeholders: user companies, real estate investment fund managers and developers. As a tool to triangulate the primary data, a consultant specialized in the process of this type of certification was interviewed. The results suggested that the three groups appropriated the value generated by LEED through lower operating expenses; User and incorporating companies have identified that this appropriation also takes place through reputational gains; And developers and fund managers pointed out access to renters who require this certification. In addition, the developers cited a higher rate of occupation of the projects; And the user companies mentioned access to new knowledge, advantages resulting from a better internal environmental quality and more professional management of the building. This last factor, not identified in the literature, constitutes a relevant contribution of this research, since it adds to the green buildings literature a new aspect to be investigated.

Prioritering av systemkrav är en viktig fråga vid utnyttjandet av resurserna på systemutvecklingsavdelningar. Problem uppstår när antalet krav som ska prioriteras är fler än de systemutvecklingsresurser som finns tillgängliga. Således måste de systemkrav som företag vill få utfört av sin systemutvecklingsavdelning prioriteras på ett strukturerat sätt. För att göra det strukturerat behövs stöd i form av regelverk, ramverk och metoder för prioriteringsarbetet. Problemet är att det finns inga ramverk som ger detta stöd idag. Examensarbetsrapporten utforskar vilka beståndsdelar ett ramverk ska bestå av för att stödja prioritering av systemkrav. Syftet är att skapa ett ramverk för att införa ett strukturerat beslutsstöd med prioriteringsmetoder. En väl utformad forskningsstrategi tillämpas innehållande tre olika forskningsfaser: utforskande, utformande och utvärderande. Forskningsfaserna vägleder arbetet i rätt riktning och ser till att motverka validitetshot som riskerar uppstå. Forskningsmetoden är av kvalitativ och induktiv karaktär. Fakta inhämtas genom litteraturstudier, intervjuer och förstudie, som analyserades ur vilket en första version av ramverkets beståndsdelar utformas. Utvärderingsintervjuer görs med respondenter som har mångårig erfarenhet av prioritering inom systemutveckling. Intervjuerna visar på att företag, oavsett bransch, har liknande förutsättningar och strukturer för att applicera ramverket. Det framtagna ramverkets första version valideras som relevant, lämpligt samt funktionellt för prioritering av systemkrav med mindre justering. Efter en analys av utvärderingen skapades en slutgiltig version av ramverket för prioritering av krav i systemutvecklingsprojekt benämnt PaKS. Resultatet från utvärderingen visar att PaKS är lämpligt, fullständigt och användbart i sin generella utformning där respondenterna bidragit med förslag för ytterligare utformning. / Prioritizing system requirements is an important issue for utilizing resources in system development departments. Issues arise when the number of requirements to prioritize are more than there are resources available in the system development department. Thus, the system requirements that a company want carried out by the system development department must prioritized in a structured way. To make prioritization structured, support is required in the form of regulations, framework and methods for prioritizations. Today there are no frameworks that provide this support. This study explores which components a framework should consist of to support the prioritization of system requirements. The aim is to create a framework for implementing structured decision support with prioritization methods. A well designed research strategy containing three different research phases is used: exploration, design and evaluation. The research phases guide the work in the right direction and aim to counteract validity threats that may occur. The research method is of a qualitative and inductive nature. Facts are obtained through literature studies, interviews and preliminary studies, which were analyzed from which a first version of the framework's components is designed. Evaluation interviews are conducted with respondents who have many years of experience of prioritization in system development. The evaluation show that companies, regardless of industry, have similar conditions and structures to apply the framework. The first version of the framework is validated as relevant, appropriate and functional for prioritizing system requirements with minor adjustments. Following an analysis of the evaluation, a final version of the framework for prioritization of requirements in system development projects, called PaKS, was created. The outcome of the evaluation shows that PaKS is useful in its overall design, in which respondents contributed proposals for further design.