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There are surprisingly detailed similarities between Germany and the USA on their way towards the Second World War. In this paper, I have compared the nations' expansionist philosophies, their encounter with racism, and the internal conflicts between authoritarian leadership and democracy. I began with an overview of Manifest Destiny and the German myth of the East. Next, I summed up the deep changes that the First World War caused for both societies and how they went into the Great Depression. I examined the rise of scientific racism as part of the international eugenics movement and the emergence of populist leaders during the economic crisis. It became clear that neither expansionism nor racism were genuine German ideologies. In fact, the American Manifest Destiny served as a role-model for German plans in the East. Even the racist concepts of the Third Reich were strongly influenced by American scientists. The main difference seems to be the experience with the First World War and the diversity of American protest during the crisis.

The organization of the Emergency Conservation Work was found to possess many faults. The Seventy-Fifth Congress, taking cognizance of some of the more glaring imperfections, approved a measure reorganizing and re-establishing the Emergency Conservation Work under the name of The Civilian Conservation Corp. The bill eliminated many of the defects of the former organization, and invested authority and defined duties and regulations in such a manner that a more efficient institution resulted.

Title: The real estate agent’s creation of trust in customer meetings and the importance of communication in housing deals - A study that highlights language barriers in the real estate industry. Subject: Real Estate Science, Bachelor Thesis 15 credits Authors: Olivia Kultanen & Yasmine Osman Supervisor: Peter KarpestamDate: Spring term 2022 Aim: The aim of this study is to investigate how real estate agents create trust in customer meetings and what problems that can arise in the sales agreement between the broker and the seller, but also how brokers deal with difficult communication in terms of language barriers. Method: This study has applied a qualitative approach. The empiricism is based on six in-depth interviews with real estate agents who are operating in Sweden. Result & conclusions: The result shows that real estate agents create trust through clear feedback in their communication, but also how sincere and adaptable the agent is to the customer and his needs. The study establishes the approach of brokers when language barriers occur by being extremely clear, giving examples, shortening and using simple language in order for the message to reach the customer. The real estate agent adapts their language to the customer's conditions Contribution of the thesis: The study contributes to a deeper understanding of how to bridge miscommunication in the real estate industry between active real estate agents and customers and the creation of trust in customer meetings. Finally, suggestions are presented over how real estate agents handle language barriers that have arisen. Suggestions for future research: As a suggestion, future research could investigate the customers perspective regarding the influence of trust on the choice of brokerage firm. A3comparison between a smaller brokerage firm and a larger one could be made to see if there are differences regarding the trust of the various businesses. From a customer perspective, do you have more trust in the large, well-known brokerage chain or the smaller brokerage firm in the local area? / Titel: Fastighetsmäklarens skapande av förtroende i kundmöten och kommunikationens betydelse i bostadsaffärer - En studie som belyser språkbarriärer inom fastighetsmäklarbranschen. Ämne: Fastighetsvetenskap, Kandidatuppsats 15 hp Författare: Olivia Kultanen & Yasmine Osman Datum: VT 2022Handledare: Peter Karpestam Syfte: Syftet med denna studie är att undersöka hur fastighetsmäklare skapar förtroende i kundmöten och vilken problematik som kan uppstå i förmedlingsuppdrag, samt hur fastighetsmäklare går tillväga för att hantera försvårad kommunikation i form av språkbarriärer. Metod: Föreliggande studie har applicerat en kvalitativ forskningsansats. Empirin är baserad på sex djupgående intervjuer med fastighetsmäklare som är verksamma runt omkring i Sverige. Resultat & Slutsats: Resultatet visar att fastighetsmäklare skapar förtroende genom tydlig återkoppling i sin kommunikation, men även hur uppriktig och anpassningsbar mäklaren är efter kunden och dennes behov. Studien fastställer fastighetsmäklares tillvägagångssätt när språkförbistringar förekommer genom att vara väldigt tydlig, exemplifiera, korta ner och använda sig av enkelt språk för att budskapet ska nå fram till kunden. Fastighetsmäklaren anpassar sitt språkbruk till kundens förutsättningar. Uppsatsens bidrag: Studien bidrar till djupare förståelse kring hur man kan överbrygga misskommunikation inom fastighetsmäklarbranschen mellan verksamma mäklare och kunder samt vikten av skapande av förtroende i kundmöten. Slutligen presenteras förslag över hur1fastighetsmäklare hanterar uppkomna språkbarriärer.Förslag på framtida forskning: Förslagsvis skulle framtida forskning kunna undersöka uppdragsgivarens perspektiv gällande förtroendets påverkan på val av mäklarfirma. En jämförelse mellan ett mindre fastighetsmäklarföretag gentemot ett större skulle kunna göras för att se om det finns skillnader kring de olika verksamheternas förtroende. Har man utifrån ett kundperspektiv mer förtroende för den stora välkända mäklarkedjan eller det mindre mäklarföretaget som finns på den lokala orten?

The Water Energy Nexus or WEN is an understanding between Israel, Jordan and the United Arab Emirates (UAE) whereby Israel will provide Jordan with desalinated water in return for Jordan providing Israel with renewable energy (RE). The UAE will finance the new RE projects in Jordan earmarked for this task. The Memorandum of Understanding (MoU) between the three countries was signed in December of 2021. This idea was hatched by the NGO EcoPeace and under the framework of the Abraham Accords signed in 2020 between Israel, the UAE and Bahrain and the peace treaty between Israel and Jordan in 1994. Yet even this ambition is modest in comparison to the visions of EcoPeace, where in the longer term they would like to see the EU as the model to aspire to, using green technology as the founding pillar to drive trade, expand renewable energy, export water and water usage models and create a bedrock of expanding peace. This thesis will attempt to ascertain how credible these dreams are by delving into the histories of each of these three countries regarding diplomacy, environment, green technology, the green transition, land usage, water and narrative. As a starting point, it will evaluate current narratives coming from Israel and the Arab world by looking at articles mentioning the “other countries” in three newspapers, Al Jazeera, Times of Israel and the Jerusalem Post. Above all the background of the Israeli/Palestinian conflict looms large in many of these questions.

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Mergers and acquisitions (M&As) are not only becoming more common globally, but they are also increasing in size and value in Sweden. The pace of this trend has not even slowed down due to the eruption of the global pandemic, there is rather a tendency showing the opposite. In solitude may this have its reasonable causes but when delving deeper into the matter may the effects of a M&A be alarming, especially for the individual. Scholars are often stressing their concerns that M&As often ends in failure or being devastating in terms of their performance. While some have argued that cultural aspects play a crucial part for the realization of a deal- transaction, have the findings either been inconclusive or inconsistent.  This thesis is therefore exploring the notion of culture and the role it plays in the M&A-process, particularly the pre-deal phase in order to shed light on the matter. By doing so have a theoretical framework been developed that connects the phases of the M&A-process with social identity theory and the modes of acculturation which the seller and buyer may desire prior to entering a deal. Thus, by investigating the actions taken by both an acquirer, “Alfa”, and a targeted firm, “Bravo”, from an acquisition in 2021, have a case study been developed for a later thematic analysis. While the former is a publicly listed company in the central regions of Sweden, is the latter a privately held company in the northern parts. Both companies operate within the construction industry which may limit the transferability to other settings. However, the methodological and qualitative design choices of this study make it possible to favor interpretations and inductive reasoning of the semi-structured interviews through which the data has been collected.  It has been found that there is no one best way for companies who are entering a M&A-deal to make sure that they will be culturally congruent with one another and that various acculturation modes might be simultaneously occurring. From the case has the modes of integration and separation been found to be present which have caused acculturation stress to transpire during the post-deal phase. Having a decentralized structure in tandem with clear communication and sharing information to those individuals being affected by the M&A has been found to be vital factors for mitigating acculturation stress, making parties more congruent, and creating favorable conditions in which implementation can be successful.

The utilization of mergers and acquisitions has over the years become a central part of expanding and growing an organization. To acquire or merge with another firm is often described as a way to facilitate better and faster organizational development, in ways that organic growth cannot. In conjunction with the increase in popularity of mergers and acquisitions, the academic attention towards this area has also grown subsequently. According to scholars, due diligence can be used as a tool to ensure that the acquiring firm and the target firm are a good match, as well as ensuring that any seller statements are consistent with reality. The academic attention towards due diligence is, however, described as surprisingly limited. Previous researchers are calling for an increased and deeper understanding of due diligence in general. Therefore, the purpose of this study is to further develop theoretical knowledge and expand the understanding of due diligence. More exactly, we have targeted Swedish small and medium-sized firms that have acquired another firm recently by asking the following research questions; What are the drivers and challenges of pre-acquisition due diligence for Swedish SMEs? and; How is the pre-acquisition due diligence process managed by Swedish SMEs? and; How are the results of the pre-acquisition due diligence applied? Semi-structured interviews with CEOs, founders, managers, and heads of M&As from seven Swedish SMEs were conducted, based on both scholarly suggested evaluation procedures and a literature review within the field of due diligence. All interviews were conducted and recorded through an online tool which facilitated the process of transcribing, analyzing, and producing the empirical findings. By using qualitative thematic analysis the respondents’ answers, thoughts, and insights were accordingly categorized into one of four main themes and subsequent sub-themes. The findings showed that due diligence brings overall value and that it is a necessity in the process of acquiring, even though it is a rather expensive and time-consuming process that can interrupt the everyday agenda at the acquiring firm. Furthermore, the findings also showed that the management of the due diligence process and the utilization of the results differed considerably between the investigated firms. Lastly, the findings indicate a need for future technological development in the field of due diligence, to achieve a more cost- and time-effective process.

The hospitality industry, with its dynamic business environment, has experienced unprecedented disruption and reconfiguration due to the emergence and success of sharing economy firms and online travel agencies. This turbulence calls for effective governance structures that can motivate managers to act in their shareholders' best interests. Despite the importance of effective corporate governance for firm performance and the topic receiving extensive scholarly attention in the management and finance literatures, there seem to be several gaps and mixed findings in the hospitality academic field. To facilitate scholarly advancement, identify gaps in the current knowledge base, and provide direction for future research, in the first essay I undertake a systematic review of research on corporate governance in the hospitality literature. Based on 115 peer-reviewed articles published since 1961, I identify 21 themes explored by scholars, and find that topics related to institutional ownership, executive compensation determinants, board size, and merger and acquisition (MandA) outcomes are commonly examined, whereas topics related to family ownership, debt, and regulation/law are seldom explored. This review contributes to the literature by taking stock of what we know and offering a one-stop-shop for scholars to understand and extend corporate governance literature published in the hospitality field. While evidence in the general business literature suggests that targets, instead of acquirers, are better off after the acquisition, limited studies in the hospitality industry have shown that both bidders and targets are better off after the merger, suggesting that MandAs are more successful in the hospitality industry than in other industries. In the second essay, I empirically examine whether this is indeed the case and what may explain the potential discrepancy in merger performance. Using a comparative study design and a comprehensive sample over 41 years, I find that overall acquirers gain from MandAs, and hospitality MandAs outperform non-hospitality MandAs. Bidders in the hospitality industry are more likely than non-hospitality bidders to acquire large, related targets, using an all-cash mode of payment. Except for industry relatedness, relative size, cash payment, and unlisted target are all positively related to merger performance. This study contributes to the literature by identifying several factors that can explain the differences in MandA performance between hospitality and non-hospitality firms. Despite the fact that MandAs are frequently pursued as a growth strategy in the hospitality industry, their effect on chief executive officer (CEO) compensation has not been systematically examined. Considering that CEO compensation is an important topic related to firm performance, management, and social responsibility, in the third essay I examine the relationship between MandAs and CEO compensation in a sample of hospitality firms consisting of 1,514 firm-year observations over a period of 27 years. The regression analyses find that CEO compensation is significantly higher in the year after large acquisitions; well-governed firms identified via tenure, the Entrenchment-index, and board independence pay their CEOs higher post-acquisition than poorly-governed firms; the fraction of equity-based compensation is unrelated to MandA propensity; and the fraction of cash-based compensation is negatively related to MandA propensity. The additional analyses indicate that CEOs are rewarded for positive stock returns but not penalized for negative stock returns, and even more so in well-governed firms after acquisition. This study finds that MandAs and corporate governance are determinants of CEO compensation and the form of CEO compensation matters to acquisition decisions in hospitality firms. The findings are of importance for shareholders and the board of directors to design compensation plans that align the interests of managers and shareholders. / Doctor of Philosophy / The hospitality industry, with its dynamic business environment, has experienced unprecedented disruption and reconfiguration due to the emergence and success of sharing economy firms and online travel agencies. This turbulence calls for effective governance structures that can motivate managers to act in their shareholders' best interests. Despite the importance of effective corporate governance for firm performance and the topic receiving extensive scholarly attention in the management and finance literatures, there seem to be several gaps and mixed findings in the hospitality academic field. To facilitate scholarly advancement, identify gaps in the current knowledge base, and provide direction for future research, in the first essay I undertake a systematic review of research on corporate governance in the hospitality literature, and find that topics related to institutional ownership, executive compensation determinants, board size, and merger and acquisition (MandA) outcomes are commonly examined, whereas topics related to family ownership, debt, and regulation/law are seldom explored. This review contributes to the literature by taking stock of what we know and offering a one-stop-shop for scholars to understand and extend corporate governance literature published in the hospitality field. In the second essay, I empirically examine whether MandAs are more successful in the hospitality industry than in other industries and what may explain the potential discrepancy in merger performance. I find that overall acquirers gain from MandAs, and hospitality MandAs outperform non-hospitality MandAs. Bidders in the hospitality industry are more likely than non-hospitality bidders to acquire large, related targets, using an all-cash mode of payment. Except for industry relatedness, relative size, cash payment, and unlisted target are all positively related to merger performance. This study contributes to the literature by identifying several factors that can explain the differences in MandA performance between hospitality and non-hospitality firms. In the third essay I examine the relationship between MandAs and CEO compensation in a sample of hospitality firms, and find that CEO compensation is significantly higher in the year after large acquisitions; well-governed firms identified via tenure, the Entrenchment-index, and board independence pay their CEOs higher post-acquisition than poorly-governed firms; the fraction of equity-based compensation is unrelated to MandA propensity; and the fraction of cash-based compensation is negatively related to MandA propensity. The additional analyses indicate that CEOs are rewarded for positive stock returns but not penalized for negative stock returns, and even more so in well-governed firms after acquisition. This study finds that MandAs and corporate governance are determinants of CEO compensation and the form of CEO compensation matters to acquisition decisions in hospitality firms. The findings are of importance for shareholders and the board of directors to design compensation plans that align the interests of managers and shareholders.