Bostadsmarknaden har varit väldigt uppmärksammad de senaste åren på grund av de ökade priserna och lägre bolåneräntor som blivit resultatet av en sänkt reporänta. I detta arbete har skuldsättningen av olika hushållstyper exemplifierats och simulerats utifrån att marknadsvariabler förändras såsom marknadsvärden på bostäder och ränteläget. Utöver detta har skuldsanering satts i relation till en ny typ av skuldlättnad som skulle kunna vara ett alternativ till skuldsanering men också samtidigt förhindra reaförluster och ostabila hushåll under verkningar av exempelvis en ökad räntebörda som hushåll inte klarar av. Denna skuldlättnad är en typ av skuldsanering som bankerna blir obligerade att genomföra då de varit för optimistiska i sin utlåning. Detta skulle göra att bostaden i sig blir mer intressant för bankerna i stället för att endast fokusera på hushållets betalningsförmåga. På detta sätt har bankerna ytterligare ett incitament till att vara försiktiga i sin utlåning, samtidigt som i de fall då denna skuldnedskrivning skulle aktualiseras skulle även hushållen kunna bo kvar i sina bostäder och inte behöva sälja till ett pris möjligen lägre än vad som finns kvar på bolånet. Detta leder till en mer stabil marknad i det fall att priserna skulle sjunka och räntan öka, då inga större realisationsförluster skulle behöva äga rum utan i stället räddas hushållens förmåga att kunna betala för sin bostad. / The housing market has been much discussed the last few years as a consequence of the dramatically increasing prices and the lower interest rates on housing mortgages, which in turn was the consequence of the lowered repo rate. In this thesis the debt constellation of different household types have been exemplified and simulated from market variables such as market values and interest rate levels. Beyond this, debt restructuring has been modified into another type of debt relief that could be an alternative to debt restructuring but also being able to prevent capital losses and instability on the housing market as a consequence of too high interest rates which may force households to sell their house under mortgage levels. This type of debt relief could obligate the banks to relieve the households of the excess debt that they cannot meet. By doing this the banks will have a stronger incentive of making a proper valuation of the residence instead of only focusing on the solvency of the household. This will have the effect that once the household can’t pay for their mortgage they will get the chance to be relieved of excess debt so that they still can live in their residence and not having to sell the property at a low market price so that mortgage still remains after the sell, as this could result in more instability on the housing market. The losses for the banks on debt relief are calculated in these cases to be significantly smaller than the potential capital losses on properties. As a result, fluctuations on the market could be contained to a certain degree by obligating banks to make debt relieves for the households that otherwise would have had to sell, and thus, offering more stability on an instable market.

There are a number of clinical options available for speech-language pathologists to choose from to analyze a child's phonological system, select treatment targets, and design intervention. Frequently, each of these areas of clinical options is viewed independently of one another or approached within an eclectic framework. In this article, an integrated and systemic approach is presented which assumes that a dynamic interaction exists among assessment, target selection, and intervention. Systemic Phonological Assessment of Child Speech, the distance metric approach to target selection, and the multiple oppositions treatment approach are described, with examples provided for each component. Finally, a case study is presented that examines the systemic approach of multiple oppositions relative to the approach of minimal pairs.

In the wake of reports of continued gaps between youth with and without disabilities in regard to graduation rates and postschool outcomes, the U.S. Department of Education (USDOE), Office of Special Education Programs (OSEP) began examining their process for monitoring state implementation of the Individuals with Disabilities Education Improvement Act (IDEA). OSEP’s revised accountability system, known as Results-Driven Accountability, better aligns accountability systems to support states in improving results for infants, toddlers, and youth with disabilities and their families. Currently required from states, is a comprehensive multiyear State Systemic Improvement Plan (SSIP) focused on improving results for students with disabilities. The purpose of this article is to describe the phases of the SSIP and provide an example of how this new accountability system is working in the Republic of the Marshall Islands (RMI). As with all other states, territories, and freely associated states, RMI is required to develop and implement an SSIP.

Reorganisation and restructuring in Czech and European Law This thesis deals with the Czech and European legal regulation of corporate bankruptcy rehabilitation. In the first part, the Czech variant of reorganisation in insolvency proceedings is analysed and then compared with the German and Dutch legislation. The phases preceding the decision to reorganise a company, such as the court moratorium, the drafting, approval and effects of the reorganisation plan, credit financing and the valuation of the debtor's assets are discussed. In the second part, this paper examines the Restructuring and Insolvency Directive accepted in 2019 by European Union and the reasons for its adoption. It outlines the possible ways of implementing this directive in the Czech legal system and the pitfalls that will have to be dealt with. It also explains the most important institutes introduced by the Directive, such as early warning systems, financing of the debtor and the elements of restructuring plans. Since the Directive has already been transposed into the laws of Germany, Netherlands and Greece, this paper also looks at the form of their arrangements. Finally, these types of corporate recovery solutions are compared, their advantages and disadvantages are presented, and the implications of the new institute of...

Domestic road transport is currently responsible for a third of Sweden's total greenhouse emissions. At the same time, freight transport is not being used efficiently. Full load carriers enable reduced environmental impact, reduced costs and the release of vehicles on the roads. In order to achieve sustainable supply chains, cooperation between actors is important. In the light of this, this study aims to analyze the restructuring of the logistics flow between three actors and what environmental and economic savings can be achieved. Furthermore the collaboration between the parties has been analyzed. To answer the purpose of the study, the authors conducted semi-structured interviews and collected quantitative data that formed the basis for calculating cost and environmental savings. Conclusions drawn are that the restructuring generates environmental savings of 3 724 kilograms of carbon dioxide emissions and cost savings of SEK 46,000 per month. Finally, it is concluded that restructuring of the logistics flow requires increased accuracy in orders and forecasts as all actors will be drawn closer together and given the opportunity to streamline the joint logistics flow through better communication and geographical proximity. / Inrikes vägtransporter står idag för en tredjedel av Sveriges totala utsläpp av växthusgaser, samtidigt som godstransporter i nuläget inte används effektivt. Fulla lastbärare möjliggör minskad miljöpåverkan, minskade kostnader och minskat antal fordon på vägarna. För att uppnå hållbara logistikflöden är samverkan mellan aktörer en central del. Mot bakgrund till detta syftar denna studie till att analysera en omstrukturering av logistikflödet mellan tre aktörer och vilka miljömässiga och ekonomiska besparingar som kan uppnås. Vidare har även samarbetet mellan aktörerna analyserats. För att besvara studiens syfte har författarna genomfört semistrukturerade intervjuer samt insamlat kvantitativa data, vilket utgjort underlag för beräkning av kostnads- och miljöbesparingar. Slutsatser som dras är att omstruktureringen genererar miljöbesparingar på 3 724 kilogram i koldioxidutsläpp samt kostnadsbesparingar på 46 000 kronor per månad. Slutligen konstateras att en omstrukturering av logistikflödet kräver ökad noggrannhet i beställningar och prognoser då samtliga aktörer kommer att dras närmare varandra. Sålunda skulle aktörerna ges möjlighet att effektivisera det gemensamma logistikflödet genom förbättrad kommunikation och geografisk närhet.

“Show me the incentive and I will show you the outcome”. Charlie Munger The use of adjusted earnings as a presentation alternative to GAAP earnings is intended to help financial statement users understand the underlying performance of a company. The approach is highly prevalent and growing in frequency and adjustment magnitude, as “by 2017, for example the average adjustment per firm was 26 cents per share or about 15% of average GAAP earnings per share” (Rouen, So, and Wang, 2020, p. 3). While some adjustments are standard adjustments for non-recuring items like accounting rule changes, or part of a set of consistently communicated recurring items, there is another group of adjustments that are infrequent, subject to considerable management latitude and often inconsistently categorized. Across the range of academic research on this phenomenon, there are questions regarding management motivation, communication clarity and persistence of these non-GAAP adjustments. There is a broader question regarding business decision rigor, and quality of earnings versus peers for those firms with a large adjusted to reported earnings difference. In Chapter 3, I assess the consequences of the use of Adjusted Earnings, by testing whether the size of the difference between reported and adjusted earnings is associated with a difference in performance against a set of key firm performance measures. The underlying hypothesis is that firms with a large adjusted-earnings differential have weaker underlying operational performance, compared to their peers and that ultimately the decisions and adjustment actions being taken (e.g., more acquisitions, business reorganizations or “one-offs”) that drive up the earnings adjustment subsequently erode performance. The study of a set of large New York Stock Exchange (NYSE) listed companies over a ten-year period (2011 through 2020) showed that firms with large adjusted-earnings differentials had statistically significant performance gaps versus peers that had smaller earnings adjustments on return on assets (ROA) and return on equity (ROE), both contemporaneously and prospectively. There were also performance differences in current year total shareholder return (TSR), although that was mostly a short-term phenomenon and did not hold for future TSR. The study results were particularly significant for the operational measure return on assets (ROA). The tests controlled for firm sector, size and leverage ratio. In Chapter 4, I examine whether CEO incentive compensation (total current year variable pay, variable pay as a percentage/fraction of total compensation, and unvested equity) is a possible cause of the expanded use of Adjusted Earnings practices, and associated with the size of the difference between adjusted and reported earnings. The hypothesis for this follow-on study was that CEO incentives are enhanced by a higher adjusted earnings number, given the typical structure of incentive plans and thus they could influence higher adjusted-earnings differentials. The literature is mixed on this topic as some studies like Black, Black, Christensen and Gee (2021) show no significant relationship between CEO pay and aggressive non-GAAP earnings reporting, while others show that large positive non-GAAP earnings adjustments predict abnormally high CEO Pay (Guest, Kothari and Pozen, 2017). Cohen, Dey and Lys (2008) found that unexercised options were positively associated with income-increasing accrual-based earnings management activities, but that activity is not necessarily impacting reported performance measures (p. i). This second study, found only partial statistical support for the hypothesis that current year variable compensation was associated with the Adjusted Earnings differential, but it was inconclusive. There was statistical significance for the tests of the variable compensation ratio and total unvested equity being related to future adjusted earnings differentials, but those findings were at a relatively low significance level. / Business Administration/International Business Administration

In the wake of reports of continued gaps between youth with and without disabilities in regard to graduation rates and postschool outcomes, the U.S. Department of Education (USDOE), Office of Special Education Programs (OSEP) began examining their process for monitoring state implementation of the Individuals with Disabilities Education Improvement Act (IDEA). OSEP’s revised accountability system, known as Results-Driven Accountability, better aligns accountability systems to support states in improving results for infants, toddlers, and youth with disabilities and their families. Currently required from states, is a comprehensive multiyear State Systemic Improvement Plan (SSIP) focused on improving results for students with disabilities. The purpose of this article is to describe the phases of the SSIP and provide an example of how this new accountability system is working in the Republic of the Marshall Islands (RMI). As with all other states, territories, and freely associated states, RMI is required to develop and implement an SSIP.

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