The purpose of this thesis was to examine the potential effects of a cause related marketing approach inthe Swedish agricultural industry. This was done by analyzing the market potential and how an industry,through a marketing perspective, can help rejuvenate a troublesome sector, more specifically thedomestic milk sector. A mixed-method was utilized in order to answer the research question. Qualitativeinterviews with stakeholders throughout the supply chain were conducted to create greater knowledgeand serve as a structural guide for a quantitative questionnaire, which was answered by 182respondents. This thesis is centered on the theories of cause related marketing, fair trade and consumerbehavior. The results of the study show a gap in the market, which a cause related marketed productcould fulfill. In order to succeed the problem must be raised from the field of agriculture to a social level,which incorporates and affects all of us in our everyday living. The marketing communication shouldtherefore focus on the cultural importance of preserving the domestic agricultural industry in order tosucceed.

本研究以民國91年至民國96年期間辦理私募案之上(市)櫃公司為研究對象，探究私募折溢價與私募後經營績效及市場反應之關聯性。 本研究將私募樣本區分為溢價組與折價組，溢價組於私募前後之營運績效均如預期般表現比折價組好，且溢價組與折價組於私募後之營運績效表現有更顯著的差異。同時，溢價組於私募後展現正向的市場反應，折價組於私募後則呈現負向的市場反應。 企業價值與成長機會高度相關，而溢價發行企業之成長機會對企業價值之影響程度較折價發行企業高。折(溢)價幅度與私募後營運績效、累計異常報酬間呈負(正)相關，顯示折溢價幅度可能反映出私募企業未來成長與風險之訊息。 / This study examines the effects of price discount (premium) on performance and market reaction in private placement. Three main findings are as follows. After classifying the sample into two categories, premium and discount, this study finds that the operating performance of the premium group is better than that of the discount group both before and after the private placement. The difference is especially significant after the private placement. Furthermore, the premium group shows positive market reaction after private placement while the discount group negative. Firm value is highly related to growth opportunity, and the influence of growth opportunity on firm value of premium group is significantly higher than that of discount group. The results also show that the magnitude of price discount (premium) is negatively (positively) related to operating performance and cumulative abnormal return after private placement. This may indicate that the price discount (premium) reflects the signal of future growth and risk of the firm in private placement.

為改善綠建築與售價之間的定錨效應，本研究以台灣EEWH綠建築評估系統為基礎，建構AHP分析層級程序法之問卷架構，共分為目標、面向、指標以及評估項目四大階層。透過第一階段以及第二階段問卷調查與分析，本研究初步得到不動產估價師平均願提高9.77%之綠建築願付價格，且住宅類綠建築中，價格影響權重較高者為室內環境、節能設備以及空調系統指標。 取得各評估項目的價格影響權重後，以相關分析、價格影響權重分析為基礎，篩選應謹慎考量其價格的評估項目，再輔以盒狀圖分析，將價格影響權重細分為若干加權等級，進而建立更加完善的住宅類綠建築估價應用總表，並提供不動產估價師於實務中使用。 最終，運用實證分析，本研究發現綠建築等級或總得分與溢價幅度具有中度以上的解釋力，當綠建築等級或總得分越高時，其溢價幅度亦隨之提高，然而，當綠建築施作至一定程度後，其上升的溢價幅度將有限；此外，以銀級為例時，同等級內的綠建築總得分與溢價幅度未具顯著解釋力，意旨同等級案例之總得分越高時，並無法解釋其溢價幅度將越大。本研究建議，當衡量綠建築之價格時，應依循本研究提供的應用總表，評估各綠建築的實質溢價情況，以提高綠建築案例於估價時的準確性。 / In order to improve the anchoring effect between green building and selling price, this study based on the EEWH Green Building Assessment System in Taiwan, and constructed the questionnaire structure of AHP analysis hierarchy process which classified into four dimensions: Target, Orientation, Index and Element. Through the first stage and the second stage of the questionnaire survey, the higher weight of the price impact are the indexes of indoor environment, energy-saving equipment and air conditioning system. The average of willing to pay on the green buildings from the appraisals is around 9.77%. Based on the correlation analysis, the weight of price impact analysis and the box analysis, there are some elements which need to be subdivided into several weighting scale. After that, this study would establish a much more complete table called “the application table of residential green buildings.” It will provide for appraisers to use in practice as well. Finally, using the empirical analysis, this study found that there are moderate positive correlation between the levels or the total scores of green buildings and the price premium, which means the higher the green building level or the total score is, the greater the price premium is. However, when the green building level reach a certain extent, the increase on the prie premium will be limited. In addition, take the silver level for example. The total score of green buildings in the same level dose not have significant correlation with its price premium, which means the higher scores of green buildings in the same level can not explain the price premium will be greater. Therefore, this study suggests that green buildings should follow the application table provided in this study to measure the real premiums of the green buildings in order to improve the accuracy of the green building price at the time of appraisal.

This study is one of the first of its kind to examine actual consumer purchasing decisions for forest products certified by the Forest Stewardship Council (FSC). Consumer purchasing was examined based on the presence or absence of a promotional brochure and a price premium for red oak and yellow poplar surfaced-four-sides (S4S) boards. This research also compared typical demographic factors for purchasers and non-purchasers of FSC certified S4S boards. Finally, the study examined subscales from a previously designed ecoscale to determine whether two of the subscales were effective predictors of the sale of FSC certified boards. Due to significant interactions between the price premium and the promotional brochure, Analysis of Variance (ANOVA) statistics could not be interpreted. However, these strong interactions indicate that these two factors are interdependent. Examining respondents' understanding of the trade term, "certification," showed that most did not understand the term as it is used by the forest products industry. Respondents did not link certification directly with the environment, but rather stated that it was a measure of quality excellence. This illustrates that the forest products industry must use more specific descriptions that consumers will understand when referring to certification. Based on survey results from this study, a large proportion of respondents who paid more for FSC certified boards were unable to recall whether they had cost any more than the alternative product. Respondents of this study were not found to have a high level of confidence in the environmental claims of any group. These included forest products companies, industry associations, and independent organizations. The subscales of a previously designed ecoscale were not found to be strong indicators of a respondents' likelihood to purchase FSC certified S4S boards. This project should be seen as a starting point for additional researchers interested in studying actual purchase decisions of consumers of environmentally conscious products, such as certified hardwood boards. / Master of Science

Housing is a fundamental human need and shapes our everyday lives. People take great care to choosea home that meets their needs through various amenities and attributes, striving to maximize theirutility given their budget. One amenity that is often overlooked is what the building looks like.Research indicates that people prefer classical homes, but very few are being built in classical stylesnowadays. This study utilizes a hedonic price model to explore whether neo-traditional architecturecarries a price premium in Stockholm municipality. It focuses on apartments in multi-family houses,analysing a total of 16,508 observations. A hedonic price model is utilized, with seven OLS modelsrun in RStudio, including a spatial lag model. The findings suggest a price premium of 10.5% with theregular model and 5.8% with the spatial lag model. The study concludes that neo-traditionalarchitecture has a significant effect on apartment prices in Stockholm municipality. / Boende är ett grundläggande mänskligt behov och formar våra vardagsliv. Människor lägger storomsorg på att välja ett hem som uppfyller deras behov genom olika bekvämligheter och egenskaper,och strävar efter att maximera sin nytta inom sin budget. En bekvämlighet som ofta förbises är hurbyggnaden ser ut. Forskning visar att människor föredrar klassiska hem, men väldigt få byggs iklassisk stil nuförtiden. Denna studie använder en hedonisk prismodell för att undersöka om ny-traditionell arkitektur har en prispremie i Stockholms Stad. Den fokuserar på lägenheter i flerfamiljshus och analyserar totalt 16 508 observationer. En hedonisk prismodell används, med sjuOLS-modeller körda i RStudio, inklusive en spatial-lag modell. Resultaten tyder på en prispremie på10,5% med den vanliga modellen och 5,8% med den spatiala fördröjningsmodellen. Studien drarslutsatsen att ny-traditionell arkitektur har en betydande effekt på lägenhetspriserna i Stockholmsstad.

Housing is a fundamental human need and shapes our everyday lives. People take great care to choosea home that meets their needs through various amenities and attributes, striving to maximize theirutility given their budget. One amenity that is often overlooked is what the building looks like.Research indicates that people prefer classical homes, but very few are being built in classical stylesnowadays. This study utilizes a hedonic price model to explore whether neo-traditional architecturecarries a price premium in Stockholm municipality. It focuses on apartments in multi-family houses,analysing a total of 16,508 observations. A hedonic price model is utilized, with seven OLS modelsrun in RStudio, including a spatial lag model. The findings suggest a price premium of 10.5% with theregular model and 5.8% with the spatial lag model. The study concludes that neo-traditionalarchitecture has a significant effect on apartment prices in Stockholm municipality. / Boende är ett grundläggande mänskligt behov och formar våra vardagsliv. Människor lägger storomsorg på att välja ett hem som uppfyller deras behov genom olika bekvämligheter och egenskaper,och strävar efter att maximera sin nytta inom sin budget. En bekvämlighet som ofta förbises är hurbyggnaden ser ut. Forskning visar att människor föredrar klassiska hem, men väldigt få byggs iklassisk stil nuförtiden. Denna studie använder en hedonisk prismodell för att undersöka om ny-traditionell arkitektur har en prispremie i Stockholms Stad. Den fokuserar på lägenheter i flerfamiljshus och analyserar totalt 16 508 observationer. En hedonisk prismodell används, med sjuOLS-modeller körda i RStudio, inklusive en spatial-lag modell. Resultaten tyder på en prispremie på10,5% med den vanliga modellen och 5,8% med den spatiala fördröjningsmodellen. Studien drarslutsatsen att ny-traditionell arkitektur har en betydande effekt på lägenhetspriserna i Stockholmsstad.

Purpose – This thesis aims to contribute to the understanding of the Chinese customers’ perception and acceptance of eco-conscious apparel (ECA) based on the theory of planned behavior (TPB). The thesis further examines whether people would like to pay more for ECA and how the factor of willingness to pay a premium is influenced by TPB variables. Design/methodology/approach – The research design is based on quantitative methodology. The data were collected via a web-based survey, a total of 315 responses from Chinese consumers were analyzed with application of the structural equation modeling. Findings – Both attitude toward ECA and perceived behavioral control over ECA acquisition have positive influence on ECA purchasing intention. Willingness to pay a premium for ECA is only positively affected by subjective norm. There is no correlation between ECA purchasing intention and willingness to pay a premium for ECA. Implications – To raise Chinese customers’ purchasing intention, fashion company should focus their actions on disseminating environmental information and knowledge, and offer affordable ECA options with the properties close to traditional apparel. To evoke the willingness to pay a premium for ECA, fashion company can apply celebrity endorsement to add perceived social value into its ECA series. Such actions will contribute to formation of positive social norm and hence positive perception towards ECA. Meanwhile, the government can put more efforts into educating Chinese people about sustainability issues in fashion industry, formulating and implementing policies in favor of ECA consumption, so that a positive social atmosphere for ECA consumption could be created. Originality/value – This study is novel in applying TPB for examining the consumer purchasing of apparel containing recycled fiber in China. The thesis provides useful information to corporate practitioners on how to formulate ECA marketing strategies in China. Research findings are also of relevance for Chinese government by providing recommendations for formulating relevant policies to favor the ECA consumption.

Bakgrund: År 2010 infördes ISO 10668, en standard som skulle öka transparensen och kvaliteten i varumärkesvärderingar. Trots standarden så skiljer det idag miljardbelopp på kända varumärken mellan olika värderingsaktörer, något som talar för att det fortfarande finns en problematik kring värderingar. En nyhet som kom i och med standarden var den beteendemässiga aspekten där hänsyn ska tas till kunders uppfattningar, kännedom och associationer gentemot ett varumärke. Standarden uttrycker dock inte specifikt hur värderare ska beakta denna aspekt vid en värdering. Syfte: Studien syftar till att analysera hur kunderna beaktas som en del av varumärkets värde vid en värdering. Dessutom kommer studien beskriva varumärkesvärderingens betydelse utifrån olika aktörers befattningar, samt analysera eventuella skillnader och svårigheter i deras tillvägagångssätt vid värderingar. Metod: För att uppnå syftet har vi använt oss av en abduktiv forskningsansats och tillämpat ett kvalitativt tillvägagångssätt. Empirin har samlats in genom semi-strukturerade intervjuer utförda med aktörer som besitter kunskap inom värdering. Slutsats: Våra intervjupersoner har haft skilda åsikter kring hur varumärkets värde ska och bör beräknas, med anledning till deras olika befattningar och kunskap inom området. Överlag har de med lokal förankring ett enklare synsätt än de som arbetar i större revisions- och konsultbolag. I praktiken tycks det dock till slut alltid handla om vad en köpare är villig att betala, eller hur man som värderare skjuter från höften. Det har dessutom visat sig att kunderna inte räknas som ett adderat värde på ett varumärke utan att de istället ska fungera som ett bevis på det värde som ett varumärke påstås besitta, något som det dock finns begränsad kunskap kring. / Background: In 2010, ISO 10668 was introduced as a new standard to increase the transparency and quality of brand valuation. Despite the standard, there is a huge divergence in the value of famous brands between different valuators which implicates that brand valuation still is a problematic area. A new feature that came along with the standard was the behavioral aspect which considers customers perceptions, knowledge and associations towards a brand. Although, the standard does not specify in what way valuators should consider this in a brand valuation process. Purpose: The purpose of this thesis is to analyze in what way customers are taken into account as a part of the valuation of a brand. Also it will describe the significance of brand valuation out of various actors’ positions and analyze possible differences and complications in their procedures. Method: To achieve the purpose of this thesis we have used an abductive research approach and applied a qualitative method. The empirical findings have been gathered through semi-structured interviews with five actors within the valuation industry. Conclusion: Our respondents has different opinions in how, and if, the value of a brand should be measured, mostly because of their different positions and knowledge. Overall, the local valuators have a simpler approach than those working in larger auditing and consulting companies. In practice, however, it seems to be a matter of what a buyer is willing to pay, or how the valuator shoots from the hip. It has also been shown that customers are not counted as an added value of a brand, instead their opinions work as a proof of a brands value, although it is something that there’s limited knowledge about.

This thesis aims to explore if and why there exists a price premium for environmentally certified office properties on the Swedish market. The purpose is to contribute with knowledge within the research field of certified properties and how they are valued by the market. In order to answer the research question, regressions of office transaction data have been performed, of which the main model examined whether environmentally certified office properties generate a price premium compared to non-certified properties. Two additional models were analysed, investigating if certain certifications affect the price premium more than others. The transaction data was provided by the real estate consultancy firm Cushman & Wakefield. Furthermore, in contrast to previous research, a cost variable was included in each model. However, in order to capture the significance of the parameter, regressions excluding the cost variable were as well performed. The result of the analysis suggests that environmentally certified office properties are sold at a 14-26% higher price compared to equal properties which are not certified. In addition, certified properties with BREEAM and LEED appear to be sold at a 28-30% respectively 30-31% higher price than GreenBuilding certified properties. The cost variable did not seem to have any larger impact of the price. Most likely, a large part of the generated price premium is a result of aiming for branding benefits which are received by obtaining environmentally certified properties. / Målet med examensarbetet är att undersöka om och varför det existerar en prispremie för miljöcertifierade kontorsfastigheter som är lokaliserade på den svenska fastighetsmarknaden. Syftet är att bidra med kunskap inom forskningsområdet certifierade fastigheter och förstå hur de värderas av den svenska marknaden. För att kunna besvara forskningsfrågorna har regressionsanalyser genomförts för data innehållande transaktioner av kontorsfastigheter. Huvudmodellen har undersökt om miljöcertifierade fastigheter genererar en prispremie jämfört med icke-certifierade fastigheter. Utöver huvudmodellen har ytterligare två modeller analyserats som undersöker huruvida specifika certifieringar påverkar prispremien. Använd transaktionsdata har inhämtats från fastighetskonsultsföretaget Cushman & Wakefield. Jämfört med tidigare studier har en kostnadsparameter inkluderats i varje modell. För att kunna förstå variabelns signifikans och påverkan har även analyser som exkluderar parametern genomförts. Resultatet av regressionen antyder att miljöcertifierade kontorsfastigheter säljs till ett pris som är 14-26 % högre än jämförbara kontorsfastigheter utan certifiering. Vidare verkar BREEAM- och LEED-certifierade fastigheter säljas till 28-30 % respektive 30-31 % högre pris än GreenBuilding-fastigheter. Kostnadsparametern verkar ej ha en signifikant påverkan på prispremien. Med största sannolikhet utgör strävan efter brandingfördelar en stor del av prispremien vilka erhålls om fastighetsägaren innehar miljöcertifierade fastigheter.

I denna studie har fenomenet miljöcertifiering och dess inverkan på transaktionspriser undersökts. Under det senaste decenniet har intresset och efterfrågan på hållbarhet kraftigt ökat. Tillsammans med krav från Europeiska Unionen har investerare, fastighetsägare och hyresgästers efterfrågan på hållbara fastigheter ökat. För att skapa incitament förhållbarhetsinvesteringar i fastighetsbranschen krävs det att arbetet är ekonomiskt gynnsamt och att företag kan räkna hem sina investeringar. Studien undersöker om miljöcertifierade fastigheter historiskt sätt genererat en värdepremie vid transaktionstillfällen. Syftet medstudien är att identifiera om miljöcertifieringsstämpeln medför en ekonomisk värdepremie samt identifiera hur miljöcertifieringens utveckling ser ut i ljuset av EU-taxonomin. Genomregressionsanalyser analyseras olika attributs inverkan på priset med syfte att kunna isoleramiljöcertifieringen och därigenom analysera hur miljöcertifieringen påverkar priset. Därutöver har en kompletterande kvalitativ intervjustudie utförts för att underbygga resultaten iden kvalitativa analysen. Studiens resultat visar att det finns tendenser till att miljöcertifierade fastigheter betingar högre priser än icke-certifierade fastigheter. Däremot kan studien inte med signifikans bevisa att det är just miljöcertifieringsstämpeln som ensamt bidrar till de högre prisnivåerna. Studiens resultat pekar på att EU-taxonomin kommer förändrafastighetsmarknadens dynamik på ett sätt som fortfarande inte är säkerställt samtidigt som tunga investerare lagt stora resurser på att miljöcertifiera sina bestånd. Då experter utrycker sig försiktigt och delvis har olika utgångspunkter är miljöcertifieringens framtid i ljuset av EU-taxonomin oviss. Utvecklingen av branschens affärslandskap kommer att till stor delpåverkas av EU-taxonomin och det är således viktigt att investerare, fastighetsägare och marknadsanalytiker följer utvecklingen noggrant. Dessutom bör branschorganisationer och forskare fortsatt engagerar sig i hållbarhetsfrågor för att främja en mer miljömässig, social men också ekonomiskt hållbar framtid inom fastighetsbranschen. / The purpose of this study is to investigate the economic advantages of eco-labeling in the real estate market. By employing a quantitative methodology, our goal is to identify if there is a financial key performance indicator for environmental certifications within the Swedish market. In the past decade, the demand for and interest in sustainability have increased. Along with stringent regulations from the European Union, the demand of sustainable properties have risen. To create incentives for sustainability efforts, the work must be economically beneficial. Companies need to justify their sustainable investments and therefore this study examines whether environmentally certified propertied have historically generated a higher transaction price compared to properties without eco-labeling. To answer our research questions an eclectic method was applied. A quantitative data analysis was combined with a qualitative interview study to deeply investigate how and if ecolabeling brings an economic value premium and to identify the development of certifications in the light of the EU-taxonomy. Through regression analysis we analyze the impact of various attributes on the price with the aim of isolating the environmental certification and thus analyzing how the eco-labeling is affecting the price. The qualitative study works as a complement to the quantitative analysis to support the results and put it into a context. The study concludes that there are tendencies for environmental certified properties to command higher prices than not certified properties. However, the results cannot significantly prove that it is the environmental labeling alone that contributes to higher price levels. The dynamics of the real estate market will change due the EU-taxonomy in a way that’s still uncertain. As experts express caution and have partly different perspectives, the future of environmental labeling in the light of EU-taxonomy remains uncertain. The development of the business landscape will be influenced by the EU-taxonomy, making it important for investors, property-owners and market analysts to closely follow its development. Moreover, industry organization and research should continue to engage in sustainability issues to promote a more environmentally, socially and economically sustainable future within the real estate industry.