In this thesis we investigate whether the inclusion of an exogenous variable in the form of patentapproval can improve the ARIMA model's predictions for the pharmaceutical companyAstrazeneca. A point of departure for the study is the questioning of the efficient markethypothesis. When comparing data on patent date approval with stock exchange data for threepharmaceutical companies, it could be observed that share prices increased on the date ofapproval in 65 percent of the cases. This observed correlation combined with the fact that severalpapers have established that the stock market may not be efficient make it interesting to studywhether the value of a patent has been included in the stock price prior to approval date.To investigate this, an ARIMA and an ARIMAX model was estimated. The exogenous variable,which controls for patent approvals, was created by retrieving data from the EPO's databasePATSTAT. The retrieved data was then formatted into a dummy variable. The purpose ofincluding an exogenous variable is to investigate whether the market reacts to patent information.If the addition of the exogenous variable proves significant, the result is in conflict with theefficient market hypothesis.During the model selection, it was found that an ARIMA (4,1,2) was the superior model. Themodel was then compared with the corresponding ARIMAX model. When comparing themodels, it was found that the predictions of the ARIMAX model follow the observed datasomewhat better, but a t-test concluded that the improvement was not statistically significant.This implies that the value of the patent has already been included in stock prices prior to patentapproval and indicates that the price increase is random. This results thus lends support for theefficient market hypothesis. To investigate this further, the stock market data was compared witha random walk and by conducting a t-test it could be concluded that it was not possible to rejectthe hypothesis that share prices follow a random walk, thus the result further supports theefficient market hypothesis.

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Syftet med denna studie var att undersöka sambandet mellan organisationsstöd och grupputvecklingsnivåer. För att svara på studiens syfte har följande fråga formulerats: Kan grupputvecklingsnivå prediceras utifrån de 7 aspekter av organisationsstöd?Metoden som används i denna studie är en tvärsnittsundersökningsdesign med en kvantitativ ansats. Data samlades in med hjälp av en enkätundersökning som distribuerades genom en snöbollsurvalsstrategi, där respondenterna identifierades och uppmuntrades att sprida undersökningen via sociala medier och sina nätverk. Insamlade data analyserades med hjälp av multipel regressionsanalys. Stickprovet bestod av 92 projektmedlemmar som arbetar i olika branscher med olika bakgrund. Grupptuvecklingnivå mättes med Group Development Questionnaire short (GDQS). Organisationsstöd mättes med Organisational Support Checklist (OSC).De sju aspekterna av organisationsstöd utgjorde oberoende variabler och grupptuvecklingnivå utgjorde den beroende variabeln. Resultatet visade att endast fyra av de sju aspekterna av organisationsstöd kunde predicera grupptuvecklingnivå, vilket är “Organisationens kultur”, “Tydligt uppdrag”, “Arbetsuppgifter och tekniskt stöd” samt “Återkoppling och erkännande”. Medan aspekten "Utbildningskvalitet" inte kunde inkluderas i analysen, på grund av att många har valt att inte svara på frågorna angående denna aspekt. De resterande två aspekterna “Autonomi och tillgänglighet” och “Utbildning och utveckling” kunde inte predicera grupputvecklingnivå i denna studie. Avseende studiens frågeställning kan följande slutsats dras att 4 av de 7 aspekterna av organisationsstöd har visat sig ha unika signifikanta bidrag till grupputvecklingsnivå, vilket är “Organisationens kultur”, “Tydligt uppdrag”, “Arbetsuppgifter och tekniskt stöd” samt “Återkoppling och erkännande” / The purpose of this study was to examine the relationship between organizational support and group development levels. To answer the purpose of the study, the following question has been formulated: Can group development level be predicted from the 7 aspects of organizational support?The method used in this study is a cross-sectional survey design with a quantitative approach. Data was collected using a survey distributed through a snowball sampling strategy, where respondents were identified and encouraged to disseminate the survey through social media and their networks. Collected data were analyzed using multiple regression analysis. The sample consisted of 92 project members working in different industries with different backgrounds. The group development level was measured with the Group Development Questionnaire Short (GDQS). Organizational support was measured with the Organizational Support Checklist (OSC).The seven aspects of organizational support were independent variables and group development level was the dependent variable. The results showed that only four of the seven aspects of organizational support could predict group development level, which is "Organizational culture", "Clear mission", "Tasks and technical support" and "Feedback and recognition". While the aspect "Quality of training" could not be included in the analysis, since many have chosen not to answer the questions regarding this aspect. The remaining two aspects "Autonomy and availability" and "Training and development" could not predict team development level in this study. Regarding the study's question, the following conclusion can be drawn that 4 of the 7 aspects of organizational support have been found to have unique significant contributions to the level of team development, which are "Organizational culture", "Clear mission", "Tasks and technical support" and "Feedback and recognition".

Titel: Svenska småbolagsfonders prestation i förhållande till OMXSGI   Nivå: Examensarbete på grundnivå (kandidatexamen) i ämnet företagsekonomi     Författare: Pontus Fogelberg   Handledare: Alice Schmuck   Datum: 2023 – januari   Syfte: Svenska aktiemarknaden är sällsynt som studieobjekt. Då andra marknader skiljer sig från den svenska behöver den granskas ytterligare för att investerare ska ha goda förutsättningar. Syftet är att undersöka förutsättningar för överprestation mot den svenska marknaden genom att investera i svenska småbolagsfonder. Syftet uppfylls genom att följande frågeställning besvaras: Hur ser möjligheterna ut för att över en femårsperiod, respektive treårsperiod, generera en högre avkastning om man investerar i svenska småbolagsfonder jämfört med hela stockholmsbörsen?   Metod: Genom en kvantitativ ansats har sekundärdata i form av avkastning från fonder och OMXSGI under perioden 2007–2022 legat till grund för t-tester.   Resultat och slutsats: Resultatet visar på hög sannolikhet att svenska småbolagsfonder genererar en högre avkastning än OMXSGI under en period på tre respektive fem år. Studien visar även på att risken i form av standardavvikelse är högre hos fonderna, men att den risken blir mindre relevant vid längre tidsperioder.   Examensarbetets bidrag: Studien bidrar med kunskap om hur investerare på den svenska marknaden kan få en högre avkastning än genomsnittet.   Förslag till fortsatt forskning: Utifrån studiens resultat och begränsningar kan vidare studier göras för att se om svenska småbolagsfonders riskjusterade avkastning är högre än OMXSGI. Om så är fallet kan prissättningsmodeller undersökas för att bidra till att besvara om svenska marknaden är effektiv eller ej.   Nyckelord: Småbolagsfonder, OMXSGI, avkastning, effektiva marknadshypotesen, småbolagseffekt. / Title: Swedish small cap funds' performance in relation to OMXSGI   Level: Student thesis, final assignment for Bachelor Degree in Business Administration.   Author: Pontus Fogelberg   Supervisor: Alice Schmuck   Date: 2023 – January    Aim: The Swedish stock market is rarely an object of study. As other markets differ from the Swedish one, it needs to be examined further so that investors have good conditions. The purpose is to investigate the conditions for outperformance against the Swedish market by investing in Swedish small cap funds. The purpose is fulfilled by answering the following question: What do the possibilities look like over a five-year period, or a three-year period, to generate a higher return if one invests in Swedish small cap funds compared to the entire Stockholm stock exchange?   Method: Through a quantitative approach, secondary data in the form of returns from funds and OMXSGI during the period 2007–2022 have been the basis for t-tests.   Results and conclusions: The result shows a high probability that Swedish small cap funds generate a higher return than OMXSGI over a period of three and five years respectively. The study also shows that the risk in the form of standard deviation is higher with the funds, but that this risk becomes less relevant over longer periods of time.   Contribution of the thesis: The study contributes knowledge about how investors in the Swedish market can get a higher than average return.   Suggestions for future research: Based on the study's results and limitations, further studies can be done to see if the risk-adjusted return of Swedish small cap funds is higher than OMXSGI. If this is the case, pricing models can be examined to help answer whether the Swedish market is efficient or not.   Key words: Small cap funds, OMXSGI, return, efficient market hypothesis, size effect.

Syftet med denna studie är att undersöka om det förekommer abnormal avkastning påaktiemarknaden hos de tio största amerikanska företagen inom restaurangbranschen isamband med Covid-19. I studien tillämpas teorierna Behavioral finance och den effektivamarknadshypotesen för att få en djupare förståelse kring restaurangbranschens aktiemarknadunder pandemin. En kvantitativ metod tillämpas i studien. En anpassad form av eventstudieanvänds innefattande marknadsmodellen för att räkna fram förväntad avkastning utifrånhistorisk statistik vilket sedan jämförs med den faktiska avkastningen under det så kalladeeventfönstret. Resultatet har visat att alla restaurangföretag utom ett som studerats i dennauppsats har påvisat en abnormal negativ avkastning under perioden 11 februari – 8 april år 2020 där Covid-19 var en framträdande nyhet i USA och resten av världen. / The purpose of the study is to investigate weather abnormal returns occurs in the stock marketamong the ten largest American companies in the restaurant industry in the timeline whereCovid-19 became a pandemic. The study applies theories from Behavioral finance and theEfficient market hypothesis to gain a deeper understanding of the restaurant industry’s stockmarket during the pandemic. A quantitative methodology is employed in this study. Anadapted form of event study is utilized, incorporating the market model to calculate expectedreturns based on historical data which is then compared to returns during the specified eventwindow. The results indicate that all restaurant companies, except one, examined exhibitedabnormal negative returns during the period from February 11 – April 8 the year 2020, when Covid-19 was a significant news story in the United States and globally.

Syfte: Syftet med uppsatsen är att undersöka vad det finns för finansiellt syfte med att köpa namnrättigheterna för en arena där det i främsta fall bedrivs idrottsrelaterade evenemang. Delsyftet är att undersöka hur företagets aktiekurs påverkas vid tillkännagivandet av att de blir arenasponsor samt att se huruvida arenasponsorns aktiekurs påverkas efter att ett idrottsevenemang ägt rum. Metod: Undersökningen är en flerfallsstudie av fem företag där en metodtriangulering med en kombination av kvalitativ och kvantitativ metod används för att på så sätt ge en rättvis bild av fenomenet. Uppsatsen utgår från ett positivistiskt vetenskapligt förhållningssätt och ett deduktivt angreppssätt. Den kvalitativa delen av uppsatsen består av primärdata i form av intervjuer med personer från ansvariga positioner på företagen. Den kvantitativa delen består av en eventstudie-metodologi där den insamlade datan användes för att mäta om en avvikande avkastning (AR) uppstod i samband med tillkännagivelsen av namnrättighetsaffären samt en genomsnittlig avvikande avkastning (AAR) vid idrottsevenemangen. Utöver detta undersöktes även om specifika matchutfall påverkade företagens aktiekurs. Eventperioden för idrottsevenemangen sattes till dagen efter evenemanget medan eventperioden för tillkännagivelsen sattes till 75 dagar, 25 dagar innan och 50 dagar efter nyheten. Uppsatsens estimeringsperiod omfattade i båda fall 70 dagar. Resultat: Vid tillkännagivandet av arenarättighetsaffären uppvisar resultatet mellan en positiv AR på 2,48 procent till en negativ AR på 1,44 procent för de sex rättighetsaffärerna. Vid matchutfallen uppvisar resultatet allt från en positiv AAR på 0,26 procent till en negativ AR på -0,06 procent. Slutsats: Arenasponsringens stora finansiella vinning ges genom ett starkt varumärkeskapande vilket på sikt leder till ökade finansiella fördelar för företaget med namnrättigheterna av arenan. Finansiellt påverkades inte företagets aktiekurs av varken matchutfall eller tillkännagivandet av arenasponsringsnyheten. / Purpose: The aim of the thesis is to see what the financial purpose is for buying the naming rights of an arena where the main activity is sporting events. The subsidiary aim is to investigate if the company's share price is affected by the announcement that they became arena sponsors and to see whether the stadium sponsor's share price is affected after a sporting event has taken place. Methodology: The survey is one multi-case study of five companies, which are based on both a quantitative and a qualitative approach. The paper was based on a positivistic scientific approach and deductive approaches. The qualitative part of the thesis consists of primary data in the form of interviews with individuals holding responsible positions in the companies. The quantitative part consisted of an eventstudy, where the collected data is used to measure if an abnormal return (AR) has arisen in connection with the announcement of the name rights deal and an average abnormal return (AAR) in connections with the sporting events. Event period for sporting events is added to the day after the event while the event period for the announcement is added to 75 days, 25 days before and 50 days after the news. The surveys estimationperiod was comprised to 70 days. Results: At the announcement of the arena namingrights deal presented results from a positive AR of 2.48 percent to a negative AR of 1.44 percent. During the match, the outcome showed the results of a positive AAR of 0.26 percent to a negative AR of -0.06 percent. Conclusions: The big financial benefit of buying the naming rights of an arena is the strong brandbuilding which ultimately leads to increased financial benefits for the sponsoring company. The company's share price is not affected  by either match outcomes or the announcement of the sponsorship deal.

In Sweden, savings in funds today is one of the most popular forms of savings. Through both active and passive choices, almost all Swedes are exposed to the fund market, where mutual funds are the most popular type of funds. A clear majority of these funds are actively managed, which means that one or more fund managers actively work with the investments of the funds, with the aim to outperform the market. This method of management has been hotly debated in recent years, when many scientists claim that fund managers generally fail to outperform the market in long term. At the same time, interest in sustainability investments has increased in recent years, which is reflected in the fund market where sustainability funds have become increasingly popular. This essay therefore focuses on these sustainability funds, with focus on comparing large banks with web-based fund companies. The large banks in Sweden have been criticized for the way they are working seen from a customer perspective, but their funds are still very popular. Against this background, the study aims to investigate whether one can find any differences in performance of actively managed sustainability funds between large banks and web-based fund companies. Using four different models to measure risk-adjusted return of security portfolios, the funds have been examined to see if it is possible to find any patterns in terms of performance and the type of company that manages the funds. The survey results show that there is a clear difference in performance between the large banks and the web-based fund companies, whereby the latter succeed much better. Of the four models used, the large banks do not outperform the market under one model, while the web-based companies manage to outperform the market according to three of the models. Thus it can be stated that if you are interested in saving money in actively managed sustainability funds, it is the web-based companies to turn to. As previously mentioned, the large banks funds are very popular, which means that Swedish private investors have much money to gain by allowing web-based companies to manage their money, rather than large banks.

Purpose: To examine the relationship between a new movie release and the stock value of the movie producers in america, and seek a connection between movie criticts and the stock price with an attempt to find similar patterns with swedish movies and their financial performance. Theoretical Framework: Based on theories of effcient and ineffcient markets, behavioural finance and previous research in the field. Method: The study has a quantitative and a deductive approach. An event study method is used to examine five large movie studios in the USA, and the Swedish film producers are examined through the number of paying customers. Results: The results are shown i charts to explain the abnormal rate of return (AR) and the relationship between movie release and the AR. Furthermore, the movie critique is also represented charts. Both for the american and the swedish movies. Conclusion: The results show that an overall negative rate of return of -0,24 % occurs at the time of a movie release. A connection between stock price and movie release has been encountered. Positive film critique generates positive AR.

Syfte: Undersöka om det är möjligt att generera en överavkastning på aktier gentemot marknadsindex på OMXS Industrials enligt Net Current Asset Value strategin. Metod: Studien baseras på en kvantitativ metod för att undersöka historiska aktievärden. Datan som används i undersökningen hämtas från Thomson Reuters Datastream och de statistiska värdena bearbetas i Microsoft Office Excel Teoretiska utgångspunkter: Studien har sin förklaring med utgångspunkt från teorierna om den effektiva marknadshypotesen och CAPM modellen, samt ett avsnitt som utreder principerna om hur värderingsstrategier bör följas. Resultat: Beroende på längden av innehavsperioden visar studien att det i de samtliga fall är fullt möjligt att överträffa marknadsindex, och att den riskjusterade avkastningen i de flesta fall är högre än marknadsindex. / Objective: To examine whether it is possible to generate an excess return on stocks in relation to the market index of OMXS Industrials according to the strategy of Net Current Asset Value Method: The study is based on a quantitative method to investigate historical stock values. The data used in the study is retrieved from Thomson Reuters Datastream and the statistical values are processed in Microsoft Office Excel. Theoretical usage: The study is explained on the basis of the theory of the efficient market hypothesis and the CAPM model, and even a section that investigates principles of valuation strategies and how they should be followed. Results: Depending on the length of the holding period, the study shows that in all cases it is quite possible to outperform market indices, and risk-adjusted returns in most cases are higher than the market index.

The Swedish mental hospitals existed for about one hundred years, the period around 1880-1980. The research is intended to be from a local setting perspective to study the local approach used to meet requirements from Furunäsets mental hospital principals 1960 - 1972, the effect this had on the care and treatment of mentally ill patients and how Swedish society's changing approach to mental health influenced the process. The results of the research showed that Furunäset searched for ways to meet the principals' requirements which often went against the patients’ personal best. Furunäsets mental hospital strove to fulfill its institutional goals in them selves rather than giving patients the care and treatment they needed. The Swedish society's attitude to mental illness changed during the 1960s and 70s as a result of a massive social criticism which came from the radical left. The psychiatric treatment was changed by the humanistic psychology breakthrough in the late 1950s and early 60s. This meant that the focus shifted from treating patients as objects to be seen as people with human qualities. These changes created a conflict between the society's belifs and the mental hospital's, regarding the function of Furunäsets Mental Hospital. The conflict led to the Swedish government taking the first step towards reorganizing mental health services by building hospitals in the early 1970s that combined somatic and psychiatric care.