The thesis aims to obtain a holistic perspective of opportunities, drivers and barriers that different grid customers experience when enabling demand side flexibility. Due to the increasing problems of capacity shortage of electricity in large cities in Sweden, solutions on the demand side of the electric power grid have become increasingly interesting. Demand side flexibility is a voluntary change of demanded electricity from the grid due to some kind of incentive, which can help support balancing the electric power grid to avoid capacity shortages. Furthermore, the energy transition towards a decentralised power system with an increasing share of variable renewable energy requires a changed demand profile. In this research, a qualitative research methodology was applied. Eleven semi-structured interviews were conducted with case companies within the industry and property company segment. Interviews were also conducted with three actors on the electric power market providing services to aggregate the potential of smaller flexibility resources, as well as with an expert from the Swedish Energy Market Inspectorate. A State of the Art review was completed in order to collect theory and draft previously identified aspects of demand side flexibility. The result shows that the concept is not unknown amongst electricity customers. However, there is a limited knowledge and interest in enabling demand side flexibility. The knowledge gap includes the awareness of potential flexibility resources as well as business opportunities of providing flexibility services. Conflicting priorities within organisations also presents an important barrier, where other easier and more profitable measures may be prioritised. There is also a fear of disrupting core business by causing loss of quality, comfort or production, which proposes a barrier. To overcome mentioned barriers and increase flexibility the financial benefits have to be distinctive and clear. Further, case companies express an ambition of contribution to the environment and sustainable development. By increasing the awareness of the benefits which increased flexibility induces, electricity consumers can become more motivated in adapting a flexible consumption. In addition, case companies express a desire of being early adopters in order to prevent future forced participation or termination of business. In order to enable demand side flexibility the knowledge and interest of the concept must increase. This should be done by providing clear, comprehensible information about the business opportunities of demand side flexibility as well as showcasing successful examples of implementation. Furthermore, it should include suggestions of easy, economical measures different grid customers could carry out to increase their flexibility. By providing this information the interest in flexibility can increase, thus increase the implementation and participation.

En av de större utmaningarna med ombyggnadsprojekt är de fall när det i byggnaden finns kvarboende eller andra brukare under tiden. En ombyggnad innehåller i regel både bygg- och rivningsarbeten som ofta medför störningar för människor som vistas i eller intill fastigheten. Samtliga störningar är påverkningsbara och kan vid god projektering och produktion minskas. Målet med examensarbetet har varit att ge konkreta förslag på hur ett fastighetsbolag kan arbeta för att öka hyresgästens kvalitetsupplevelse under en ombyggnad som sker i eller intill hyresgästens lokal. Detta har gjorts genom att identifiera vanliga störningar, genom att påvisa hur hyresgästen har påverkats av dessa störningar och genom att undersöka hur tidigare uppkomna störningar har hanterats. I samråd med fastighetsbolaget Vasakronan har tre ombyggnadsprojekt valts. På respektive ombyggnadsprojekt har kontorshyresgäster, intern projektledare och extern projektledare intervjuats.  Även observationer i form av platsbesök och litteraturstudier har genomförts. Studien har resulterat i förbättringsförslag till fastighetsbolaget. Ett av de viktigaste resultaten som studien visar är att ett fastighetsbolag genom tydlig information via olika informationskanaler och genom att säkra att de överenskomna tiderna för störande arbeten efterföljs, kan öka hyresgästens kvalitetsupplevelse vid en ombyggnad. / One of the more difficult challenges with refurbishment projects is when the building is to be kept in use by tenants throughout the time of renovation. A refurbishment project usually contains both construction and demolition activities, of which both often leads to disturbances. In order to minimize these disturbances during the time of refurbishment, and doing so without affecting the production negatively, planning is of key importance. Every disturbance is manageable, and can through good execution of planning and production be minimized. The goal of this study has been to provide the property company with concrete proposals on how to increase tenants quality experience during the time of renovation. This has been achieved by identifying the most common disturbances, how these disturbances have been affecting the tenants and finally how these disturbances have been handled in the past. In consultation with the property company Vasakronan three refurbishment projects of office buildings has been selected for analysis. In addition to interviews that have been carried out with tenants and project managers on each of the three projects, site visits and literature studies have also been performed. The study shows that a property company through the efficient use of communication through various information channels, in conjunction with enforcing that the time periods for production activities classified as sources of disturbances is followed, in fact can increase the level of experienced quality of their tenant during a refurbishment project.

Listed property companies trading at a discount or premium to their Net Asset Value (NAV) is a widely recognized phenomenon. Previous research within this field has primarily applied OLS-regressions and is mainly focused on U.K. and U.S. markets. This study is the first to empirically assess discounts and premiums in Swedish-listed property companies. By applying a fixed effect model controlling for panel data, this study also expands previous work and contributes to more knowledge about company-specific effects. The study covers 14 Swedish-listed property companies between the years of 2008 to 2015. Two OLS regression models and one fixed effect model were applied on cross-sectional data. Overall, the results show that the size, reputation, portfolio concentration and debt to asset ratio of a firm are negatively correlated with discount to NAV. The overall market sentiment and stock volatility are positively correlated with discount to NAV. Moreover, the overall market sentiment in tandem with firm-specific factors is believed to significantly impact discounts and premiums. Board size, insider ownership, administration costs and cross-border investments were found to not have a significant impact on discounts and premiums. Last it was also found that discounts and premiums are not determined by within variations in the subject companies, rather it is determined by across variations in the firm-specific variables. / Noterade fastighetsbolag som handlas till rabatt eller premium av sitt substansvärde är ett känt fenomen. Tidigare studier har huvudsakligen fokuserat på data från Storbritannien och USA. De studier som gjorts har primärt varit regressionsmodeller av typen OLS. Den här studien är den första som kvantitativt undersöker substansrabatt och substanspremier i svenska fastighetsbolag. Vi applicerar också en regressionsmodell av typen fixed effect, där vi kontrollerar för paneldata. Därför kan denna studie ses som en utökning gentemot tidigare studier. Denna studie omfattas av 14 noterade fastighetsbolag. Datan som används sträcker sig mellan perioden 2008 till 2015. Generellt kan sägas att storlek, rykte, portföljfokus och skulder i förhållande till totala tillgångar hos ett företag är negativt korrelerade med substansrabatt. Vidare så visar resultaten tydligt på att aktuellt marknadsförhållande tillsammans med bolagsspecifika faktorer, spelar en stor roll för skillnaden mellan aktiekurs och substansvärde. Volatilititen i en aktie och det aktuella marknadsförhållandet är båda positivt korrelerade med substansrabatt. Styrelsens storlek, insiderägande, kostnad för administration och internationella investeringar har däremot inte någon statistiskt signifikant påverkan på rabatter och premier i svenska noterade fastighetsbolag. Slutligen kan sägas att nästan inga företagsspecifika effekter hittades. De faktorer vi konstaterar ha en påverkan på substansrabatter och substanspremier varierar över hela datasetet.

Syftet med studien har varit att synliggöra AB Bollnäs Bostäders hållbarhetsarbete utifrån 18 framtagna hållbarhetskategorier fördelade på de ekologiska, sociala och ekonomiska hållbarhetsaspekterna. De ekologiska och sociala hållbarhetskategorierna är tagna från ISO26000, en standard som beskriver företags samhällsansvar, och de ekonomiska hållbarhetskategorierna är framtagna med utgångspunkt i tidigare forskning och dokument gällande hållbarhetsaspekter i fastighetsbranschen. Vidare har studien som syfte att synliggöra kommunikationen kring hållbarhetsarbetet genom att analysera vad som kommuniceras och vad resultatet blir av den kommunikationen. Det har gjorts genom att göra en didaktisk analys utifrån de didaktiska frågorna för vem, varför, vad och hur. Slutligen har studien som syfte att visa på vad det finns för visioner internt och externt kring AB Bollnäs Bostäders framtida hållbarhetsarbete, med grund i de 18 hållbarhetskategorierna. För att samla in relevant empiri har personliga intervjuer, enkäter och dokumentstudier genomförts. Resultatet visar på att AB Bollnäs Bostäder arbetar aktivt mot en hållbar utveckling utifrån alla tre hållbarhetsaspekter - ekologisk, social och ekonomisk. Utav 18 hållbarhetskategorier bedömdes arbetet med 14 av dem vara tillfredsställande. Med välinvesterade resurser skulle bolaget kunna utveckla sitt hållbarhetsarbete och uppfylla alla 18 hållbarhetskategorier. Kommunikationen kring hållbarhetsarbetet uppvisar övervägande ekonomiskt innehåll både internt och externt, men med olika syften för de olika målgrupperna boservice, ekonomi och administration, kundcenter, parkenheten, tekink, VD, boende, entreprenörer, kommunfullmäktige samt styrelsen. Utfallet däremot visar på att det är de ekonomiska, sociala och ekologiska hållbarhetskategorierna, i nämnd ordning, som uppfattas av de olika målgrupperna. Slutligen framgick det av resultatet att alla tre hållbarhetsaspekter ansågs vara viktiga för AB Bollnäs Bostäder i framtiden, men de ekonomiska hållbarhetskategorierna bedömdes ha högre prioritet. Nyckelord: / The objective has been to visualize sustainability work of AB Bollnäs Bostäder, based on 18 sustainability categories developed in the study, divided on the sustainable aspects ecological, social and economical. The ecological and social aspect of the sustainability categories is part of the ISO26000, a standard describing company’s social responsibility, and the economic aspect is developed based on research and document discussing sustainable development in the property business. Furthermore, the aim has also been to study the communication of the sustainability work at the company, and see the result of it. It was accomplished by a didactic analysis, based on the didactical questions for who, why, what and how. The last object of the study has been to learn the visions of the future sustainability work of AB Bollnäs Bostäder, from different groups perspectives, based on the 18 sustainability categories. To collect relevant empirical data, personal interviews, questionnaires and document studies has been carried out. The results show that active work towards a sustainable development is performed in AB Bollnäs Bostäder, from all three aspects of sustainable development – ecology, social and economy. Out of the 18 sustainability categories, the work of 14 of them was assessed to be satisfying. Well invested resources would help the company to develop their work, and fulfil all the sustainability categories. The communication of the sustainability categories showed a consideration towards an economical content, both internally and externally, but with different aims for the targeted groups property service, economic and administrations, customer centre, park division, technical, CEO, inhabitants, entrepreneurs, municipal council and the board. The outcome of the communication on the other hand, showed that the economical, social and ecological sustainability categories, in the stated order, is interpreted different by the targeted groups. Finally, the results showed that all three sustainability aspects were important for AB Bollnäs Bostäder in the future, but the economical sustainability categories were considered to have a higher priority.