Denna uppsats syftar till att undersöka och försöka förstå inverkansfaktorer och maktrelationer bakom planeringen av ett större infrastrukturprojekt. Studiens fokus ligger på det stora vägprojektet Förbifart Stockholm, som bland annat syftar till att avlasta befintligt vägnät och bidra till att bättre knyta samman Stockholms norra och södra kärnor. Den reella politiken och planeringen behöver inte alltid vara densamma som den formella, vilket i uppsatsen klargörs genom bland annat uttalanden i media, remissvar och intervjuer med involverade aktörer och politiker. Maktbegreppet kan förstås och synliggöras på flera olika sätt och därför studeras och används flera olika resonemang och teorier kring maktbegreppet. I fallet med Förbifart Stockholm kan till exempel det diskursiva maktbegreppet synliggöras, vilket Foucault har utvecklat och skrivit om, men även Bachrach & Baratzs teori om icke-beslut, Flyvbjergs resonemang om Realpolitik och Realrationalitet samt den konventionella planeringsmodellen kan synliggöras i samband med studien av Förbifart Stockholm.

<p>Problem: An efficient market fully reflects all available information about a company in its share price. Furthermore any new information presented about a company will lead to an instant adaptation in the share price. Henceforth an investor can not reach abnormal returns on an efficient market. The Stockholm stock exchange is afairly large stock exchange with a turnover of SEK 14000 millions per day. Prior studies conducted regarding the efficiency of the Stockholm stock exchange have stated that the stock exchange was efficient on a semistrong level. However these studies were conducted with a time frame of several weeks and therefore the authors distinguished a need for a study aiming at short term efficiency. Furthermore this thesis aims to investigate the effects of the presentation of positive annual and interim reports. A positive report is defined as a report that leads to an increase in share price the day it is presented and consequently includes all events on the day of the presentation, e.g. the press conference. The thesis was written from an investors’ perspective, who is about to buy shares.</p><p>Purpose: The purpose of this thesis was to describe and analyze the Stockholm stock exchange market’s efficiency. This was done during the days surrounding the presentation of annual and interim reports rendering an increase in share price. Furthermore the possibilities of making abnormal returns by buying shares during this period were investigated.</p><p>Method: To investigate the efficiency of the Stockholm stock exchange an event study was carried out. Data regarding the performance of the shares of the fifteen most traded com-panies on the Stockholm stock exchange were collected from the OMX groups’ homepage. The chosen companies together represented more than fifty percent of the turnover of the OMXS 30 index. The index was used as a benchmark for measuring the efficiency. The share price movement was analyzed with a quantitative approach through a statistical T-test with the assistance of the SPSS 13.0.</p><p>Result: The authors claim that the Stockholm stock exchange is not efficient on a semistrong level the day after the presentation of a positive report, as the shares displayed a negative abnormal deviation from the OMXS 30 index. The deviation was statistically verified. However the authors state that no abnormal returns can be reached by buying shares during this period since the deviation was negative. The period as a whole and the other tested days came out as efficient on a semi-strong level.</p>

<p>The main purpose of this thesis is to investigate the differences between family and non-family businesses that are listed on the stock exchange, more specifically which factors that is being used in the valuation process and why family businesses as a rule seem to be undervalued. We also look at if family ownership is a factor in this process.</p><p>By conducting interviews with analysts and journalists working with valuation we hope to be able to not only find out what factors differ but also why family busi-nesses are undervalued.</p><p>Our conclusion is that while the two forms of ownership has several negative factors that differ between them that are more common among family businesses, such as conservative dividend policy, this is not connected to the family business as a form but is rather an individual factor differing from company to company. Family ownership as such was however not in any way a factor in the valuation since the valuations instead looks at the individual company and does not generalize.</p>

<p> </p><p>Buying a house is for most people the biggest investment they will ever make. A lot of factors are taken in to consideration when looking for the perfect house; location, size, what state it is in and so forth. But since most people’s budgets are limited, the price is probably the most important aspect in the decision making process of buying a house. It is therefore highly interesting to note that since 1981, house prices in Sweden have increased with almost 400 percent.</p><p>This thesis examines the relationship between small house prices and macroeconomic factors in the Stockholm region during the period 1991 to 2007. By using macro economic theories complemented by data for all Stockholm’s municipalities in a OLS regression, the thesis will explain how the variables affects the small house prices in a boom, recession and over time.</p><p>The results and analysis reveals that as house prices rises, people tend to increase their spending on interest costs and vice versa if the prices falls. Furthermore, results show that in a boom, an existence of speculation is contributing to the rise while convergence is an important factor in a recession. The most important conclusion from this thesis is the fact that the influence of macroeconomic variables on house prices differs significantly, depending on if the economy is in a recession or a boom. Finally, the influence on the economy that the house- and real estate market possesses cannot be underestimated with its important effect on the credit market, inflation and asset market.</p><p> </p> / <p> </p><p>Husköp är för de flesta människor deras livs största investering och det är därför många faktorer som först måste vägas in varav den viktigaste förmodligen är priset. Huspriserna i Sverige har sedan 1981 nästan fyrdubblats, en utveckling som är mycket kraftigare än inflationen samma tid.</p><p>Den här kandidatuppsatsen avser att undersöka Stockholmregionens småhuspriser åren 1981-2007 och dess relation till makroekonomiska faktorer. Genom att använda en OLS regression med insamlad data för Stockholms alla kommuner och makroekonomiska teorier, visar vi hur utvalda makroekonomiska variabler påverkar småhuspriserna generellt, i hög- samt lågkonjunktur.</p><p>Resultat och analys visar att om småhuspriserna går upp är tenderar Stockholms befolkning att lägga en större del av deras inkomst på räntekostnader och tvärtom när priserna går ner. En psykologisk aspekt har en viktig del i dessa upp och nedgångar, i en uppgång startar en spekulationsperiod då människor vill vara en del ägandet i den uppåtgående husmarknad medans i en nergång skapas en sorts konvergens och en rad faktorer påverkar varandra i en spiralliknande nedåt trend. Denna trend kan förklaras i DiPasquales och Wheatons assets market model där det positiva förhållandet mellan marknader som hyresmarknaden, kreditmarknaden, byggmarknaden och tillgångsmarknaden står i fokus. Den viktigaste slutsatsen i uppsatsen är att makroekonomiska faktorer påverkar småhuspriserna helt olika beroende på om ekonomin är i en hög eller lågkonjunktur. Slutligen bör nämnas hur viktigt hus- och fastighetsmarknaden är för en ekonomi genom dess påverkan på kreditmarknaden och inflationen.</p><p> </p>

<p>In the first paper the effect of accessibility upon rent is investigated for office properties located in Downtown Stockholm. Starting from the firm’s cost minimization problem, a translog hedonic model is derived. The results suggest the model has good predictive power in explaining the variation in the log of the rent. A negative rent gradient is obtained with a base approximately 90 meters from the postulated focal point. It appears as if Space Syntax adds important information to the understanding of the intraurban office rent pattern.</p><p>The second paper investigates assumed capitalisation rates in 3026 discounted cash flow valuations of office properties in Stockholm, Gothenburg and Malmö during the time period 1998-2004. The study investigates determinants of property-level variation in cap rates and how going in and exit cap rates relate to each other.</p><p>Exit cap rates exhibit substantial variation across properties. Part of this cross-sectional variation can be attributed to the location of the property, part of it is due to other characteristics of the property. Exit cap rates are differentiated between properties of the same type on the same market segment, which shows that valuers apply property level fine-tuning when setting exit cap rates. Properties with low market rent and high long-run vacancy assumption typically have high exit cap rates. Properties in peripheral parts of a city typically have higher exit cap rates than properties in central parts.</p><p>The implicitly assumed going-in cap rate (defined as assumed net operating income year one divided by estimated market value) follows a similar pattern as the exit cap rate but exhibits more temporary, property-specific variation. Going-in cap rates are strongly influenced by temporary deviations of vacancy rates and rents from assumed “normal” levels of vacancy and rent. The difference between going-in and exit cap rates is influenced by assumed short-run growth in net operating income in the way stipulated by theory: high assumed short-run growth is associated with going-in cap rates being lower than exit cap rates.</p>

The goal of this thesis is to analyse whether the method “Observiaire” is of any use for traffic analysis. The method consists of analysing film material, preferably before and after changes are made to an area, by answering a survey for the users that are observed within the population. The method also opens up for deeper qualitative analyses which are rooted in the quantitative data collected from the survey-study. In this study we analyse the method by applying it to the case study of the changes made at Götgatan in Stockholm, where a green wave was implemented and the bicycle road widened. By analysing how the changes has affected the cyclists we then compare the data with the results one can expect from the more used methods such as flow measurement and research of travel habits. The result of this comparison shows that the more common analysis methods leave a void for which kind of data they can gather, a void that the Observiaire method can help to fill. With the data obtained from this study we then show that the changes made at Götgatan has a positive effecton its bicyclists. By comparing the changes with data collected through interviews and a literature study we argue that a focus on enhancing the experience for cyclists can have a positive effect, both for the cyclists but also socioeconomically.

Bakgrund: När forskare inom den kognitiva psykologin, Amos Tversky och DanielKahneman, på 60-talet sammanliknade deras modeller ombeslutsfattande under risk och osäkerhet med ekonomiska modeller omrationellt beteende föddes en ny gren inom den moderna finansteorin.Anomalier på finansmarknaden har därefter försökts förklaras medteorier inom behavioural finance. En av dessa anomalier är den omöverreaktion och gjordes känd av De Bondt och Thaler 1985. Den sägeratt investerare överreagerar på ny information, vilket leder till attaktiepriser överstiger sina fundamentala värden. En kraftig uppgång avaktiekursen följs således av en nedgång och vice versa. Syfte: Syftet är att utreda om det råder överreaktion på Stockholmsbörsenssamtliga samlade aktier på kort sikt under tidsperioden 2003-2014, samtundersöka de bakomliggande orsakerna till resultatet. Metod: För varje vecka under åren 2003-2014 har de 5 aktierna med högst (lägst)avkastning på Stockholmsbörsen placerats i en vinnar- (förlorar)portfölj.Portföljerna har sedan följts upp under 10 veckor. En signifikant skillnad(ACARvinnare - ACARförlorare &gt; 0) ger stöd åt överreaktionshypotesen. Slutsats: Resultaten visar att vinnar- och förlorarportföljerna uppvisar en överreaktionseffekt den första uppföljningsveckan, men att denna effektförsvinner när portföljerna värdeviktas, vilket tyder på ensmåbolagseffekt och inte en överreaktionseffekt. / Background: In the 1960’s, when psychologists Amos Tversky and Daniel Kahnemancompared their cognitive models of decision-making under risk anduncertainty with economic models of rational behavior a new field withinmodern financial economics was born. Theories within behaviouralfinance have since tried to explain financial anomalies that pointedtowards inefficient markets. One such anomaly is the overreactionhypothesis and was first proposed by De Bondt &amp; Thaler in 1985. Itstates that investors overreact to new information and that security priceswill therefore “overshoot” their fundamental values. An extreme rise ordrop in price is followed by a reversal in the opposite direction. Purpose: The purpose of this study is to investigate whether an overreaction effectcan be observed on the entirety of the Stockholm stock exchange andwhat causes it. Completion: For each week in the years 2003-2014 the 5 stocks with the highest(lowest) return on the Stockholm stock exchange have been placed inwinner (loser) portfolios to be evaluated the succeeding 10 weeks. A significant difference between abnormal returns (ACARlosers - ACARwinners&gt;0) is seen as support for the overreaction hypothesis. Conclusion: The results show that the winner and loser portfolios show proof of anoverreaction effect the first week in the evaluation period. This effect,however, disappears completely when the portfolios are value-weighted,indicating signs of a small-firms effect rather than an overreaction effect.

The purpose of this paper was to analyse “Identity- about trademarks, signs and symbols”. The project was a co-operation between the National museum of Art and Stockholm School of Economics in the spring of 2002, which consisted of an exhibition, a book and a series of seminars. The goal was to illustrate how the trademark had developed through history, which role it has in the modern society and how the trademark serves as a creator of identities. The project, mostly the exhibition, was exposed to criticism, which was directed towards the sponsorship deals between The National Museum of Art and five companies.

Mobbning är ett relativt utbrett problem bland våra skolungdomar och dess konsekvenser för den utsatte elevens välbefinnande är många gånger allvarliga. Det är därför av stor vikt att framförallt arbeta aktivt för att stoppa mobbning, men även att söka mildra de negativa konsekvenserna av den. Syftet med denna uppsats är att studera den psykosomatiska hälsan bland mobbade niondeklassare i Stockholmsregionen, samt att undersöka om socialt stöd i skolan och hemmet kan mildra eventuella negativa hälsokonsekvenser till följd av mobbning. Syftet är även att uppmärksamma eventuella könsskillnader kring dessa frågeställningar.   Socialt stöd har visat sig vara betydelsefullt för hälsan både i förebyggande syfte och vid direkt utsatthet av stress och negativa händelser i livet. Denna uppsats utgångspunkt är att socialt stöd verkar enligt buffertteorin vid mobbning. Teorin säger att socialt stöd fungerar som en buffert på så sätt att det mildrar ohälsa vid utsatthet av stress. I kontrast till denna teori finns direkt-effekt teorin som säger att sociala resurser är positivt för välmående och hälsa oavsett om en person är utsatt för stress eller inte. Analyserna baseras på svaren från de cirka 9000 elever i nionde klass som deltog i Stockholms stads drogvaneundersökning 2004. Det huvudsakliga analysarbetet genomförs med hjälp av OLS regression.   Resultatet från studien visar att mobbade elever uppger en sämre psykosomatisk hälsa jämfört med elever som inte utsatts för mobbning. Studien visar också att graden av psykosomatisk ohälsa ökar med graden av mobbning bland såväl flickor som pojkar. Vidare har närvaron av socialt stöd en positiv koppling till den psykosomatiska hälsonivån. Goda föräldrarelationer tycks vara av större betydelse för hälsan jämfört med skolstöd. Sett till detta uppvisade aspekten fritidsaktiviteter med föräldrar det starkaste sambandet med psykosomatisk hälsa för både pojkar och flickor. Att kunna prata med pappa om bekymmer har en mer positiv effekt på hälsonivån än att kunna prata med mamma för pojkar medan det omvända råder för flickor. Analyserna ger inget stöd för att socialt stöd fungerar enligt bufferteorin. Däremot erhålls stöd för direkt-effekt teorin. Detta eftersom socialt stöd visade sig ha en direkt positiv effekt på den psykosomatiska hälsan, d.v.s. oavsett om eleven är utsatt av mobbning eller inte.

Due to the growing population in Stockholm, some of the urban green areas are beingsubjected to exploitation. Hammarbyskogen is an urban forest in the south of Stockholm andis an example of a green area that is planned to be transformed into an urban environment.This paper investigates key qualities and values of an urban forest of Hammarbyskogenvalued by local inhabitants of the neighbourhoods of Hammarbyhöjden and Björkhagen in thesouth of Stockholm. In addition to that, the study seeks to investigate people’s perception ofthe planned development of the forest as well as investigate how these perceptions andqualities are being incorporated into the process of neighbourhood development.Using text analysis, interviews and discussion forums, findings have been made showing thatthe local inhabitants value the urban forest mostly for its ecological and recreational qualities.Regarding perception of the change, people are either positive or negative to the developmentwhich can be explained by people’s experienced sense of place and place attachment of thearea and the forest itself. The study has also shown that the urban planners rely on localinhabitants’ view, as well as on expert knowledge during the process of planning.The results of the study contributes to a better understanding of why and for what purposesurban forests are important for the city dwellers.