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Hållbara investeringsstrategier : Huvudregel eller undantag bland svenska fondbolag?Herrlin, Gustav, Wikman, Adam January 2023 (has links)
I dagsläget står vår omvärld inför flertal utmaningar utifrån ett miljö- och socialt perspektiv. En effekt av detta är att efterfrågan av hållbara investeringsalternativ har ökat hos privatpersoner. I takt med att medvetenheten om hur privatpersoners investeringar kan bidra till en förbättrad omvärld har andelen svenska människor som söker investeringar i hållbara fonder ökat. Genom att investera pengar i hållbara fonder kan privatpersoner påverka hur företag arbetar ur ett miljö- och socialt perspektiv. Hållbara fonder söker investeringsalternativ som leder till en positiv klimatpåverkan och social påverkan genom ett långsiktigt värdeskapande. Information om hur hållbara fondbolag går till väga för att identifiera och investera i hållbara alternativ är dock bristande vilket kan leda till att privatpersoner inte vet hur deras pengar hanteras utav fondbolagen vid val av investeringar. Denna studie har som syfte att beskriva och analysera vilka investeringsstrategier svenska fondbolag använder för att identifiera hållbara investeringar. Studien har anpassat en kvalitativ metod och, med hjälp av fyra semistrukturerade intervjuer med svenska fondbolag, samlat in data avseende hur de går till väga innan, under och efter investeringsbeslut. Studiens slutsats är att fondbolagen använder negativ- och positiv screening baserat på ESG-kriterier för att identifiera hållbara investeringsalternativ. Efter det att fondbolagen har investerat i ett företag använder fondbolagen olika former av engagemang för att säkerställa att investeringen fortsatt förblir hållbar. / The global community is currently facing various environmental and social challenges, leading to an increased demand for sustainable investment options among private individuals. In response, the proportion of Swedish individuals seeking sustainable investment options has grown. This study describes and analyzes the investment strategies used by Swedish fund companies to identify sustainable investments. A qualitative method was applied and included four semi-structured interviews with Swedish fund companies. The results indicate that fund companies use negative and positive screening based on ESG criteria to identify sustainable investment opportunities and employ various forms of engagement to ensure the sustainability of the investment. This study contributes to the understanding of how fund companies identify sustainable investments and can inform private individuals on the processes used by such companies.
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Avkastning och hållbarhet på fondmarknaden : En empirisk komparativ studie om hållbara aktiefonders avkastning kontra konventionella aktiefonder / Return and sustainability on the fund market : An empirical comparative study of sustainable equity funds return versus conventional equity fundsBackman, Ricky, Sundborn, Henrik January 2023 (has links)
För att investerare ska placera kapital mot hållbara investeringar krävs insikt om det finns en premie som valet av hållbara aktiefonder innebär eller om dessa motsvarar eller till och med överavkastar mot konventionella fonder. I denna uppsats undersöker vi hur den riskjusterade avkastningen, mätt som Jensens alpha, ser ut för hållbara och konventionella fonder. Studien undersökte 51 aktiefonder med hemvist i Sverige för åren 2017-2021 där datan samlades in från Avanza och hållbarhetsbetyg från Morningstar användes för klassificering av konventionella respektive hållbara fonder. Resultaten pekar på att hållbara aktiefonder har en riskjusterad avkastning som är 0,2 procentenheter högre än konventionella aktiefonder över hela tidsramen. Studien undersökte även förhållandet mellan riskjusterad avkastning och förvaltningsavgiften och fann ett marginellt positivt samband utifrån en regressionsanalys. Studien bidrar till forskningsområdet genom att närmare undersöka ett individuellt land till skillnad från tidigare studier och på senare årtal vilket ger en mer nutida förståelse för hållbara och konventionella aktiefonder på den svenska fondmarknaden. / For investors looking at placing their capital in sustainable equity funds, there is a need for knowledge as to how sustainable funds compare to their conventional peers. Do they demand a premium, have the same returns or even outperform? In this paper we look at the risk adjusted return, Jensen's alpha, on the Swedish fund market between the year 2017-2021 and how sustainable funds compare to conventional ones. The results indicate that sustainable funds outperform conventional funds with 0,2 percentage points over the entire time frame. The study also examined the relationship between fund fees and risk adjusted returns and found a marginal positive relationship from a regression analysis. The study contributes to the scientific field by closer examining a single country for a later time frame, giving a more contemporary understanding of sustainable and conventional funds on the Swedish fund market.
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國際社會責任投資指數 比較與分析 探討台灣SRI指數之編制操作陳映文 Unknown Date (has links)
此篇論文主要希望能藉由探討國際社會責任投資的發展狀況,研究目前國際間對於社會責任投資的看法,以及分析主要國家的社會責任投資指數,進而評估台灣對於社會責任投資指數的編制操作。由於社會責任投資浪潮已在國際間盛行已久,不但帶起社會責任基金的出現,更伴隨著社會責任投資指數的需求性大增。社會責任投資指數不僅成為基金經理人的選股基礎,也成為社會責任投資人的投資依據,讓企業有個公正客觀的評定準則來遵循社會的責任性。因此本篇論文研究將從社會責任投資指數的各種評選準則與編制方式來進行分析討論,作為將來台灣金融市場編制社會責任投資指數的一個參考依據。
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Risk, rakhi and romance : learning about gender and sexuality in Delhi schools : young people's experiences in three co-educational, English-medium secondary schools in New Delhi, IndiaIyer, Padmini January 2016 (has links)
Based on multi-method research with Class 11 students (aged 15-17) and their teachers at three English-medium, co-educational secondary schools in Delhi over nine months in 2013-14, this thesis explores how young people's understandings and experiences relate to national and international understandings of gender, sexuality and education. The thesis examines the interplay between institutional practices and students' agency within schools (drawing on Connell's 2000 framework), while I use the concept of ‘sexual learning' in order to consider young people's experiences both within and beyond the classroom (Thomson & Scott 1991). Study findings indicate the influence of concerns about adolescent sexuality on school curricula and on disciplinary practices, which sought to maintain gender segregation in co-educational spaces. The thesis also reveals the ways in which narratives of girlhood and masculinities shaped young people's lives; particularly in the wake of the December 2012 gang rape case in Delhi, these gender narratives were both contradicted and reinforced by seemingly ubiquitous stories of sexual violence. Stories of sexual violence also formed a source of gendered, risk-based sexual learning, which reinforced risk-based narratives of sexuality within formal and informal sources of sexual learning accessed by young people. The thesis also reveals heterosocial dynamics within school peer cultures as an important source of sexual learning. Students proved adept at negotiating assumptions about ‘appropriate' interactions such as idealized rakhi (brother-sister) relationships, and formed less restrictive heterosocial friendships and romantic relationships. In particular, stories about peer romances emerged as an alternative source of sexual learning, which undermined dominant risk-based narratives of young people's sexuality and offered more positive understandings of pleasure and intimacy. A key methodological contribution is the use of a narrative analytical framework in which Plummer's (1995) sexual stories are considered in terms of Andrews' (2014) political narratives. Using this framework, the thesis examines the text and context of ‘small stories' told within research encounters, and the interrelations between these micro-narratives and macro-narratives of gender, sexuality and education in post-liberalization India. This framework facilitates the examination of interrelations between local experiences and national and international understandings in the thesis. A key substantive contribution of the study is to address a lack of research on how young people learn about gender and sexuality in Indian schools. As the study largely captures the experiences of urban, middle-class young people, the thesis also contributes to the existing body of literature on middle-class experiences in post-liberalization India (e.g. Gilbertson 2014; Sancho 2012; Donner & De Neve 2011; Lukose 2009), and specifically underlines the importance of education as a site for middle-class young people's negotiation of gendered and sexual politics.
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Improving English language teaching in large classes at university level in PakistanBughio, Faraz Ali January 2013 (has links)
This thesis describes a collaborative Action Research project that works to improve the quality of English language teaching (ELT) and learning in a public sector university in Pakistan. It demonstrates how teachers and students can take responsibility for engaging in active learning and teaching by developing their roles beyond traditional models of teaching and learning. The findings of the study are validated through critical thinking, the active critique of colleagues and students who participated in the study, reflection on critical aspects of data collection and by contextualising findings within existing literature. The thesis comprises eight chapters. Chapter one provides an introduction. It presents the overall organization of the thesis. This includes the aims of the study, rationale of the research, brief overview of methodology and the structure of the thesis. In chapter two, the literature review focuses on the defining factors of large class teaching and learning. Much of the research on large classes is written in the context of the West and has limited application to the problems of developing countries. Existing literature suggests a need for further work on large class teaching and learning in the developing world. In chapter three I present the Context of the Study. I provide an historical overview of language policies in Pakistan which have influenced the educational structure and the development of the country. The status and importance of the English language in Pakistan is highlighted. I outline the classification of various English language teaching institutes in Pakistan. The chapter concludes with an account of teaching and learning and the sociopolitical conditions that affect the educational process at University of Sindh, Jamshoro Pakistan (UoSJP), the site of the project. Chapter four discusses the methodology of the study. It is divided into two sections. In section one I outline the rationale behind the choice of Action Research as a methodological framework for an intervention strategy. In the second section, I discuss the research design, and various data collection tools used for the study. In chapter five, I discuss the first reconnaissance phase of data collection. This has several foci: the teaching methods currently used in large classes at UoSJP; the students and teachers perceptions of ELT and the socio-political conditions that affect teaching and learning. Overall this chapter exposes the complexities involved in teaching at UoSJP and provides the basis for developing an intervention strategy. Chapter six presents the intervention phase of the action research strategy aimed at introducing cooperative practices. It contains the narrative of how a new teaching strategy was planned and collaboratively conducted in two different classes. Chapter seven focuses on the findings of the research and the analysis of data. I also reflect on the key emerging themes of both phases of the project. Evaluation criteria in action research are also discussed along with the monitoring strategy. The final chapter looks at the future implications of the study and offers practical guidelines on the management of large classes. There is a concluding reflection on critical issues that might affect future research. The thesis promotes ‘learner-focused' teaching through critical reflection on professional practice. The study also suggests how students can be empowered to take control of their own learning, by giving them autonomy and, by creating a socially just and democratic atmosphere in class. It also shows how large classes, exceeding a hundred students, can be managed by changing teaching methods and by increasing students' participation through group learning and the deployment of group leaders.
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State-non-state relationship within the context of decentralization : understandings of school-level actors in Gopalpur sub-district, BangladeshZia-Us-Sabur, Mohammed January 2016 (has links)
The focus of this study is to understand how policies to decentralize governance have affected the primary education sector in Bangladesh with specific reference to non-state schools. Decentralizing education has emerged as an important strategic tool to reform and enhance education quality globally. The study analyzes the relationship between the state and non-state primary education providers in the context of education reforms delivered via decentralization. The investigation used a qualitative case study approach with respondents residing and working in Gopalpur, a small township 125 km away from the capital of Bangladesh, Dhaka. Three categories of school-level actors were interviewed - School Management Committee (SMC) members, head teachers and teachers within two types of schools: Registered Non-Government Primary Schools (RNGPS) and Quomi madrassas. A primary focus of the study is to explore what the basic comprehension of the respondents regarding concepts and the implications of decentralization. The findings indicate that most of the school-level actors interviewed in the Gopalpur area were in fact familiar with the concepts of decentralization and related to it as an act of transfer of power and participatory education processes. The study further revealed that most of the RNGPS respondents supported policy guidelines and directives from the state, which is based on deconcentration, while the Quomi madrassas preferred delegated space. The research also explored the operational relationship between state and non-state providers in terms of two specific aspects. The first aspect was the relationship between state and non-state providers in three specific areas: the SMCs, monitoring activities and the training of education personnel with a focus on teachers. The other aspect involves the extent of trust and respect displayed from the center towards the school-level actors. The SMCs apparently do not feel motivated to be proactive in schools‘ affairs due to limited scope as dictated by the state and lack of authority to hold the school administrations accountable for their actions. However, Quomi Madrassa Management Committees (MMC) is very involved and act as effective mediators on behalf of the community as well as madrassas. In regards to monitoring and training inputs, the state‘s centralized system does not produce far-reaching enough results according to the RNGPS respondents. This study also investigated the mindset of officials belonging to the DPE (Directorate of Primary Education) and MOPME (Ministry of Primary & Mass Education) towards the school-level actors, which are characterized by lack of mutual trust and respect. This study reveals that given the diverse nature of non-state providers, each category of non-state providers has its own historical origins and its own understanding and approaches towards the state. The study also shows that SMCs, monitoring and training sub-systems within the governance play an important role in defining operational relationship between the state and non-state providers. The findings and analyses included herein contribute to the current policy discourse on decentralizing education in Bangladesh within the context of non-state providers and their relationship in operational terms with the state. It adds to more informed and participatory policy formulation and planning processes. Along this process, it serves to inform policy makers, school-level actors and researchers about the value of collective ownership of the policy discourse through meaningful dialogue.
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Multi-stakeholder partnerships under the Rajasthan education initiative : if not for profit, then for what?Pachauri, Anupam January 2012 (has links)
This thesis explores the development of a multi-stakeholder partnership model using a multiple case study research design. Specifically this study examines the rationale for the launch of the Rajasthan Education initiative, its development and its impact on educational development and reaches conclusions about the scalability and sustainability of multistakeholder partnerships (MSPs) in the context of Rajasthan. The literature review shows that there is insufficient independent research evidence to support the widespread claims that public private partnerships (PPPs), of which MSP is a new ‘avatar', are able to deliver results in terms of developmental gains and added value. This paucity of evidence and profusion of claims is partly explained by the fact, that the research that has been commissioned is not independent and its conclusions have been shaped by vested interests of those promoting the organisations they claim to evaluate. In particular organisations associated with the World Economic Forum (WEF) have been projecting PPPs and programmes of corporate responsibility as a way to engage for-profit organisations and enhance the effectiveness of external support for the delivery of services to basic education. Alongside this not-for-profit PPPs are seldom scrutinised in terms of public accountability, value for money, scalability, or sustainability partly due to the voluntary nature of such inputs to the public system. I believe my research makes a new and unique contribution to the independent evaluation of state enabled, not-for-profit MSPs in action. The research selected eight formal partnerships for case study which were selected using a matrix of organisational characteristics, scale and scope of interventions. The case studies are organised into four thematic groups i.e, School adoption, ICT based interventions, teachers' training and universalisation of elementary education in underserved urban localities. Each case study is examined using a framework which highlights three dimensions. These are i) the design of the partnership, ii) stakeholder involvement and intra agent dynamics and iii) the Governance of the partnership. A cross case analysis of the eight partnerships is used to arrive at conclusions about MSPs in Rajasthan. This uses the concept of double contingency of power (Sayer 2004), and specifically the concept of causal power and causal susceptibilities and Stake's (2006) multiple case analysis, to discuss the commonalities and differences across partnerships and emerging themes while cross analysing the partnerships. I have engaged in interpretivist inquiry and sought to understand the workings of an MSP which involves businesses and CSR groups alongside NGOs and government agencies with an aim to place Rajasthan on a fast development track. Rather than looking for an ideal type MSP, I problematise the MSPs in Rajasthan as I explain the workings of an MSP model in action. Given this methodological perspective, I have used semi structured interviews, observations of the partnership programmes in action, and document analysis as methods to collect and corroborate data for this study. The study concludes that the exiting MSP arrangements in REI are not scalable, unsustainable and have very limited impact. Moreover, the MSPs are unstable and reflect fluid inter-organisational evolution, as well as ambiguous public accountability. There was no purposeful financial management at the REI management level. In addition the exit routes for partners supporting interventions were not planned, resulting in the fading away of even those interventions that showed promise in accruing learning gains for children, and by schools and teachers. Non-scalability and lack of sustainability can be inferred from the fact that the partners do not have a long term view of interventions, lack sustained commitment for resource input and the interventions are implemented with temporary work force. The instability of the partnerships can be explained through the absence of involvement of government teachers and communities. Also economic and political power dominated the fate of the programmes. In this MSP it was clear that corporate social responsibility (CSR) was a driving force for establishing the MSP but was not backed by continued and meaningful engagement. The ‘win-win' situation of greater resources, efficiency and effectiveness, which formed the basic premise for launching the REI was not evident in reality. MSPs are gaining currency globally. This research points to the fact that much more intentional action needs to be taken to ensure that partnerships such as these have a sustained impact on development. The problems and issues of education are historically, politically and socially embedded. Any action that does not take this into account and which is blind to the interests of different stakeholders in MSPs, will surely fall short of achieving what it set out to do. Further independent research examining the ambitions and realities of other MSPs is needed to inform policy development and implementation. This is essential for achieving the goals of education for all before investing further in what appears to be a flawed modality to improve access, equity and outcomes in education.
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Göteborgs-Posten och Sydasien – konflikten på Sri LankaHasselgren, Tomas January 2013 (has links)
Syfte: Det generella syftet med denna studie har varit att nå en kvalitativ reflektion angående skillnader i framställning av en konflikt i två mycket skilda publikationer med mycket olika ekonomiska förutsättningar under två tidsperioder. Material från dagstidningen Göteborgs-Posten och tidskriften Sydasien är analyserade för att undersöka dessa skrifters behandling av konflikten på Sri Lanka under 1983 och 1998/1999. Teori: Diskursteori utifrån Norman Fairclough och Teun van Dijk. Sociologisk teori utifrån Pierre Bourdieu, genom begreppen angående produktionen av tro, kapital och fält som han arbetat fram. Metod: Kvalitativ kritisk diskursanalys (CDA) utifrån Faircloughs tredimensionella modell: text-diskursiv praktik-social praktik. Resultat: Genom den kritiska diskursanalysen nåddes en djupare bild av olika dimensioner i den problematik som framställning av ett komplicerat skeende som konflikten på Sri Lanka tillhör. Det korta svaret är att - ja – tidskriften Sydasien ger totalt sett en djupare, mer mångfacetterad och bredare bild av konflikten än Göteborgs-Posten. Detta kan man se under båda tidsperioderna som analyserats. Men – detta resultat kan man problematisera: för att få denna mångdimensionella bild så krävs det att man läser alla texter som Sydasien publicerar angående konflikten, om endast en artikel här och en där väljs ut, så riskerar man att få en begränsad bild likt den i Göteborgs-Posten. Stora krav ställs med andra ord på publiken.
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Post-Conflict Reconstruction in Sri Lanka and Cyprus: Avoiding a StalemateShankar, Jyotsna 01 January 2011 (has links)
By comparing the post-conflict reconstruction patterns of Cyprus and Sri Lanka, it is possible to evaluate what was or was not effective in the Cyprus case and how these lessons may be applied to Sri Lanka. Considering the underlying similarities of the two islands’ respective conflicts, the focus determining the best course of action for Sri Lanka, so that it does not face the same stalemate situation as Cyprus. The recommended policy contrasts with the consociationalist models proposed for Cyprus, and is instead based on the unique Basque model of autonomy.
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The Politics of Ceasefires : On Ceasefire Agreements and Peace Processes in Aceh and Sri LankaÅkebo, Malin January 2013 (has links)
In recent decades we have seen an increase in peace processes aimed at solving armed conflicts through peaceful means. The often fragile characteristics of such processes and the settlements that they produce underline the essential importance of improving our understanding of the dynamics at play in transitions from war to peace. This thesis aims to contribute to this overarching objective by analysing ceasefire agreements in relation to peace processes in two protracted intrastate armed conflicts: Aceh, Indonesia, and Sri Lanka. In the scholarly literature, ceasefire agreements are often assumed to create momentum due to their ability to pave the way to a peaceful solution. At the same time, it has also been suggested that ceasefires can influence conflict dynamics in negative ways. Although there are many unanswered questions about ceasefire agreements in contemporary peace processes, few studies have been devoted to systematic and in-depth analysis of how ceasefire agreements can be characterized and analysed in relation to peace processes in protracted intrastate conflicts. This thesis, which is based on written documents and on interviews conducted during four research trips to the region, contributes to filling this research gap by presenting comparative case studies of Aceh and Sri Lanka. The point of departure in the study is a process-oriented, conflict dynamics approach and a view that war-to-peace transitions require changes in the conflicting parties’ attitudes, behaviours and relationships. I analyse and compare ceasefire agreements by looking at their initiation, form and content, and by examining their implementation and the unfolding of the processes. I identify six key factors in the literature that can influence the conflicting parties’ attitudes, behaviours and relationships. I then use these factors to analyse ceasefire agreements in relation to the dynamics of the broader peace processes. In this thesis I show how these key factors – including issues of recognition, trust, whether the parties’ claims are met, international involvement, contextual changes and intra-party dynamics – have mattered. I also show that context is important for understanding how and why they have mattered. The results suggest that ceasefire agreements can facilitate war-topeace transitions; however, it also illuminates challenges and the risk that such agreements can be counter-productive in the context of intrastate conflicts. The study also shows that ceasefire agreements have a historical legacy, as illustrated by their impact on subsequent interactions and agreements, and it underlines the symbolic politics of ceasefires in asymmetrical intrastate conflicts. The thesis ends with a number of propositions, among others that ceasefire agreements tend to become more comprehensive over time and that power struggles and developments within the conflicting parties are important for understanding ceasefire agreements in relation to contemporary peace processes.
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