The paper sheds some light on the education returns in Germany in the post war period. After describing higher education in Germany the current stand of higher education financing within the single states is presented. In six states tuition fees will be introduced in 2007/08 and discussions are going on in even some more. In the second part of the paper an empirical analysis is done using longitudinal data from the German social pension system. The analysis over the whole lifecycle renders results which proof that the higher education advantages are quite remarkable and might be a justification for more intensified financing by tuition fees. But all this has to be embedded into an encompassing strategy of tax and social policy, especially to prevent a strengthened process of social selection, which would be counterproductive for an increased and highly qualified human capital in Germany.

Der vorgestellte Beitrag gibt einen Überblick über die gegenwärtige Hochschulfinanzierung in Deutschland; kürzlich haben einige Bundesländer Studiengebühren eingeführt, die zu einer teilweisen Finanzierung der Studienkosten beitragen sollen. Im II. Kapitel werden außerdem kurz die finanziellen Strukturen der tertiären Ausbildung in den OECD-Ländern beschrieben. Dabei geht es vor allem um die Kostenaufteilung zwischen öffentlichem und privatem Sektor. Im III. Kapitel werden dann die Verteilungswirkungen des gegenwärtigen Finanzierungssystems kritisch hinterfragt. Dabei wird auch auf den Lebenseinkommensvorteil einer Hochschulausbildung im Detail eingegangen, bevor dann mögliche Auswirkungen einer Gebührenfinanzierung diskutiert werden. Es wird deutlich hervor gehoben, dass die Einführung von Studiengebühren in eine umfassende hochschul- und bildungspolitische Strategie eingebettet sein muss, damit eine negative Selektionswirkung auf die Jugendlichen aus Haushalten mit prekären Einkommen vermieden wird. / The paper sheds some light on the financial structures of higher education in Germany. Recently in several member states of Germany tuition fees have been introduced. Chapter II describes the current situation in Germany, the financial structures in the OECD countries and sheds some light on the higher education costs as well as parts to be borne by the public and private sector. Chapter III discussed the distributional impacts of the current German system and adds some information on the education returns in Germany in the post war period. The analysis over the whole lifecycle renders results which proof that the higher education advantages are quite remarkable and might be a justification for more intensified financing by tuition fees. But all this has to be embedded into an encompassing strategy of tax and social policy, especially to prevent a strengthened process of social selection, which would be counterproductive for an increased and highly qualified human capital in Germany.

Diese Arbeit beschäftigt sich dem Thema Studienfinanzierung. Zuerst richtet sich der Fokus auf die Analyse des Gutes Hochschulausbildung. Anschließend werden die Finanzierungsmöglichkeiten der Studierenden aufgezeigt, wobei den Krediten eine besondere Aufmerksamkeit zukommt. Die Analyse der Finanzierungssysteme in den USA und Australien ist ebenfalls Bestandteil der vorliegenden Arbeit. Hier richtet sich das Augenmerk auf die Entwicklung der Studiengebühren und die angebotenen Finanzierungsmöglichkeiten. Daran anschließend erfolgt eine Darstellung der Auswirkungen des jahrelang gebührenfrei angebotenen Hochschulstudiums in Deutschland. In diesem Zusammenhang werden die Finanzierungsstruktur deutscher Hochschulen, die soziale Zusammensetzung der Studierenden und die Akademikerquote beleuchtet. Zum Abschluss erfolgt eine empirische Untersuchung der Lebenseinkommen verschiedener Bildungsgruppen in Deutschland und damit verbunden eine Berechnung der Bildungsrenditen bestimmter Ausbildungsniveaus. / This work is directed at the theme financing of higher education. The first view goes to the analysis of the good higher education. Following, the ways of financing higher Education will be presented, in which the loans play a particular role. The breakdown of the financing schemes in the USA and Australia is a part of this work as well. In this section the history of tuition fees and the offered financing proposals are disclosed. Afterwards a presentation of the impacts of the long lasting tuition free higher education in Germany occurs. In this context the financing structure in German universities, the social composition of students at German universities and the percentage of graduates are outlined. An empirical analysis of the lifetime income from different education groups and the calculation of education returns of particular education levels in Germany conclude this work.

Titel: Fonders förvaltningsavgifter vs avkastning – Lönar det sig att betala lite mer eller är det bara dumdristigt? Seminariedatum: 2008-06-04 Ämne/kurs: Magisteruppsats/ D-nivå Författare: Anna Asplund och Malin Elfving Handledare: Stig Westerdahl Nyckelord: Fonder, Förvaltningsavgifter, TKA, Avkastning Syfte: Syftet med studien är att undersöka om det föreligger ett samband mellan fonders förvaltningsavgifter och dess avkastning samt om avkastningen och förvaltningsavgifterna skiljer sig mellan olika fondtyper. Metod: Studien bygger på en deduktiv forskningsansats eftersom vi utgår från befintliga begrepp och teorier. Då vi ville undersöka en stor population har vi använt oss av en kvantitativ forskningsstrategi. Studien grundar sig på åren 2004-2007. För att bestämma ett samband mellan de två variablerna förvaltningsavgift och avkastning har vi använt oss av regressionsanalyser. För att undersöka om avkastningen och förvaltningsavgifterna skiljer sig åt mellan de olika fondtyperna har vi använt oss av medelvärdesanalyser. Empiri: Vi har hämtat data gällande förvaltningsavgifter och avkastning på de fonder som ingår i urvalet från Morningstar som är en oberoende utgivare av fondinformation. Slutsatser: Studiens resultat visar att ett samband mellan fondernas avkastning och dess förvaltningsavgift (TKA) endast kan fastställas år 2005, då ett negativt samband föreligger. Detta år visar indikationer på att det finns skillnader i resultaten och att det inte beror på slumpen. De resterande åren kan resultaten dels bero på slumpen samt har de en dålig förklaringsgrad vilket innebär att resultaten i studien ej kan skildra verkligheten. Räntefonderna är den fondtyp som har den lägsta genomsnittliga avkastningen under den undersökta perioden, aktiefonderna har den högsta. Räntefonderna har även den lägsta genomsnittliga TKA medan den fondtyp som i denna studie har den högsta genomsnittliga TKA är fond-i-fonder. / Title: Mutual funds; administration fees vs. proceeds – Is it profitable to pay a bit more or is it just foolish? Seminar date: 2008-06-04 Course: Master Thesis/D-level Authors: Anna Asplund and Malin Elfving Advisor: Stig Westerdahl Keywords: Mutual funds, Administration fees, TKA, Proceed Purpose: The purpose of the study is to investigate if there is a connection between the administration fees of mutual funds and their proceeds. The study aims to examine different kinds of funds which invests in different kinds of markets and if there are differences between these funds. Methodology: The study is founded on a deductive research effort since we take our starting-point in existing terminology and theories. Since we wanted to examine a large population we used a quantitative research strategy. In order to determine a connection between the two variables; administration fee and proceed we have used regression-analysis. Empirical foundation: We have collected data concerning administration fees and proceed on the funds in the selection from Morningstar, which is an independent publisher of mutual fund information Conclusion: It is only for the year of 2005 the study shows a possible negative connection between the administration fees of mutual funds and their proceeds. For the unit trusts a possible connection cannot be established for any of the examined years.

Föreliggande rapport är resultatet av sex intervjuer kompletterade med litteraturgranskning. Rapporten speglar den pågående debatten kring studieavgifter. Den redovisar, inspirerad av diskursanalytisk metod, tre skilda diskursiva debatter dvs. lärosätets, individens, samhällets, på två diskussionsområden - kompensatoriska åtgärder samt möjligheter, fördelar/styrkor. Rapporten påvisar de problem och lösningar som förts fram inom dessa. Respondenterna lyfter fram att studieavgifter handlar om ett ömsesidigt investeringsproblem för framtida välfärd – för individen såväl som för samhället. Respondenterna pekar också på att samverkan mellan departement behövs liksom företagsstöd för industristipendier eftersom full kostnadstäckning behövs. Brister i investering blir ett dilemma som långsiktigt påverkar Sveriges välfärd och även den enskilda studentens välfärd, i synnerhet för den som inte själv har ekonomiska resurser. Fem av sex respondenter har den samlade synen på avgifter att kravet på full kostnadstäckning inte är rimligt utan ett välfungerande stipendiesystem och innebär att vi förlorar alltför många studenter. Den preliminära lösningen är att vidta kompensatoriska åtgärder samt att regeringen tillskjuter medel, säger studieanordnarna. Jag drar slutsatsen att vi ännu inte är redo för att ta hand om konsekvenserna av avgifter och att samverkansdebatten knappt påbörjats. / This paper is based upon six interviews completed by making a literature examination. The paper reflects the current debate on tuition fees. It shows, inspired by a discourse analysis method, three separate discursive debates i.e. higher education, the individual, the society, in two areas of discussion – compensatory measures and potentials, advantages/ stability. The paper demonstrates the problems and solutions put forward in these areas. The respondents highlight that tuition fees are about a mutual investment problem for future welfare - for the individual as well as the society. The respondents also point out that there needs to be collaboration between the ministries, as well as financial support for industrial scholarships because costs need to be completely covered. Lack in investment becomes a dilemma that affects Sweden’s welfare and even the students individual welfare in the long term, particularly for the one who does not have own economic resources. Five of six respondents have an overall view on tuition fees that indicate the demands on full cost coverage is not reasonable without a well-functioning scholarship system and results in us losing too many students. The preliminary solution is to take compensatory actions and that the government contributes funding, the study providers say. I conclude that we are not yet ready to deal with the consequences of tuition fees and that a collaborative debate has just begun.

AimThe purpose of this study is to analyze factors that affect the price on tenant-owner apartments in the central parts of Uppsala. Special attention is put on analyzing how the monthly fee and the location affect the price. The hypotheses are that the monthly fee and the distance to the central part of the city have a negative effect on the price. A number of additional price affecting factors was taken in consideration during this study. Method This study is mainly based on data supplied to us by Mäklarstatistik. The supplied data consists of information about tenant-owner apartment sales in Uppsala during a year under 2008 and 2009. Before the Hedonic method was used in order to get the result, we added information, processed it and eliminated unwanted data. The Hedonic method makes it possible to describe the selling price as a function of several price affective factors. To investigate how the monthly fee affects the selling price, several regression equations were conducted. The data supplied to us was processed with the computer program Microsoft Excel. Result and conclusions The investigation shows that there is a negative correlation both between the monthly fee and the apartments selling price, as well as between the selling price and the distances to the Fyrisån and the Stora torget. Suggestions for future research The interest rate on the housing loan is one of the biggest contributing factors in the total monthly cost for most household owners. In this study we have not taken in consideration the effect of the present interest rate for household loan. Therefore we think it would be interesting to investigate its effects on the market. Contribution of the thesis   This study has strengthened the credibility of earlier studies. It has also given a deeper insight into how the monthly fee affects the price on apartments by using more variables than earlier studies.

Background: In June 2010, Swedish parliament decided that Swedish academia should compete with quality and introduce tuition fees for foreign students. This means that higher education will remain free of charge for citizens of EU/EEA and that third-country students will have to pay a tuition fee for studying in Sweden. Problem discussion: Managing the introduction of tuition fees is a matter of priorities among the various Swedish universities. Depending on the size and budget of the university, the concentration of the change has varied. Linnaeus University is at the moment concentrating on recruiting national students and building their brand within the Swedish boarders, ignoring the consequences that the lack of international students will lead to. We question how the university should be able to maintain an international experience for the student, teachers and researchers unless they choose to invest in international relations and internal marketing to sell their brand. Research question: What could Swedish academia do to communicate their quality of education and their brand on an international market in order to attract international students? Purpose: The purpose of this thesis is to describe and analyze how Linnaeus University, and other institutions in similar situations, can promote their brand on an international market in order to successfully maintain and communicate the core values of their brand. We also wish to inspire similar organizations to be active and work with the situation rather than approaching change with a wait and see strategy. Methodology: We have chosen to make a qualitative research with The Actors perspective. We quickly discovered that this is the ultimate method for us since we are not trying to find any absolute truth, but rather gain knowledge and understanding of how different institutions handle the same situation. To create this understanding, our primary data has been collected through discussions with representatives from various universities and governmental organizations within Sweden. Findings: Our findings are based on several factors in relation to the emerging situation out of the introduction of tuition fees. We identified two major issues regarding inactive leadership and absent decisions. We believe that this is based on the paradigm shift in global Academia, from the classical institution to an organization within a competitive market - with students as their customers. We also found a lack of experience within Swedish Academia when it comes to communication internationally in an effective and efficient manner. Both issues show the urgent necessity for Academia to learn how to communicate their brand internationally in order to successfully attract international students. Keywords: Communication, Change management, Branding, International marketing, Introduction of Tuition Fees, Swedish Academia

In recent years, Small and Medium Enterprise Credit Guarantee Fund(SMEG) has been actively promoting organization restructuring, boosted its business unceasingly, and impelled each innovation guarantee service actively, in order to display the best benefit. This paper combines C. J. Kuo.¡]2003¡^market-based risk neutral model with actuarial valuation principles, using above observable rate discrepancy¡]i.e. one for that guaranteed by SMEG, and the other for non-guaranteed portion¡^to evaluate the credit risk SMEG assumed from guaranteed schemes, then derives the optimal guaranty fees model. The major research finding shows fixed as follows conclusion: 1.The real prepayment in subrogation is close to the total guaranty fees estimated by proposed model. 2.Applying this model can help that the credit risk degree SMEG takes reacts to the guarantee premium, and that SMEG control risk balance revenue and expenditure. This indicates that the model can reflect market information, and thus is easily applicable and referable by SMEG to establish the structure of guaranty fees as well as to reach an integrated risk management.

Abstract Objective: Readmission is a big part of health care expenditure and recent studies suggested that hospital readmissions can be applied as an important indicator of quality of care within health care system. Furthermore elderly population usually costs the large amount health care expenses and is the main group in readmission. Moreover readmission is usually attributed to chronic diseases. Nevertheless, evaluations of hospital readmissions under universal health care coverage areas were not well-studied in Taiwan. Therefore this study aims to explore the associations between initial hospitalizations and probability of hospital readmissions in details. Research method: Patients aged 65 or older with primary clinical diagnosis of asthma or COPD based on ICD-9-CM for hospital admissions and readmissions in Taiwan.National claims of these two diseases were collected and analyzed from year 2000 to 2004. Population-based descriptive analyses of related health care utilizations were estimated. Multivariate logistic regressions were conducted to predict the probability of hospital readmissions. Controlled variables included patient factors, medical institutions¡¦ characteristics, urbanizations, and air quality indicators. Result: Among asthma and COPD elderly patients, more health care utilizations were observed in the hospital readmissions than initial admissions. Multivariate logistic regressions indicated that age, gender, disease severity, hospital characteristics, and air quality were significant predictors of the probability of hospital readmission. Meanwhile, age, disease severity, and hospital characteristics also significantly affected the time interval between initial admission and readmission. In addition, longer length of stay in the initial admission will significantly shorten the time interval between initial admission and readmission (P<0.001). Conclusion: For Asthma and COPD elderly patients, longer length of stay in the initial admission will significantly shorten the time interval between initial admission and readmission and have higher probability of hospital readmission. This study provides the evidence of reducing the health care expenditure by controlling readmission rate. With more understandings of factors affecting hospital readmissions, we can improve the health care delivery and reduce unplanned readmissions in the future. Key words: Asthma, COPD, hospital readmission, health care utilization, length of stay, admission fees

Since small and medium ¡Vsize enterprises (SMEs) have played a fundamental role in the economic development of this country, as a intermediary, the financial assistance of Taiwan SMEG to SMEs, is the greatest contribution to the above, nevertheless, Taiwan SMEG has been immersing in a predicament of financial deficit due to the unbalanced budget for a long time. Except the Package Credit Guarantee has introduced the concept of total risk control, all the others like the Authorized Approach and the Normal Approach have not introduced yet. For its perennial operation, Taiwan SMEG must set up an appropriate system for the rate of guarantee fees to achieve self-contained and self-sufficient condition, also to obtain the best efficiency under its limited resources. This paper uses the market ¡Vbased risk neutral model developed by Kuo (2006) to estimate the probability of default of banking loan assets through the risk premium of each banking loan, further to stimulate the guarantee fees by using the actuarial valuation principles. The purpose of this model is to react the degree of credit risk on the stimulated guarantee fees , making the fees pricing mechanism reasonable and fair . The model also analyzed the cost of subrogation payment under default cases by different industry , making it a reference for banks and Taiwan SMEG. The empirical results show that: 1.The credit guarantee fees stimulated by this model are approximately fair comparative to the actual subrogation payments of default cases reimbursed by Taiwan SMEG. The result provide evidence that the model possess the power of fitness for estimating the default cost of subrogation payment. 2.The degree of credit risk can actually react on the guarantee fees through using this model. It is essential to set up different range for rate of guarantee fees according to the subrogation payment ratio of default cost caused by respective guaranteed industry. The result suggests that Taiwan SMEG should amplify the extreme energy of guarantee through reasonable and fair use of its limited resources. Using the data of Taiwan SMEG guaranteed cases, this paper also analysis the default cost between the cost of funds and earning profits for the banking loans. The banks in Taiwan earn less profits than before under the overbanking environment. The competitive bank¡¦s loan pricing strategy leads to extreme loss while the default cases occur. In the lights of risk management , banks have become a high risk and low return industry. It is essential for banks to emphasize the loan quality and pricing strategy when expanding their loan business. Banks must simultaneously evaluate the RAROC under a perfect risk management system, so that the monetary environment can be improved and banks can take advantage of it by earning reasonable profits.