Leveraged buyout transaction is the most familiar PE investment technique in financial market. It is controversial for high debt financing since some companies go to bankruptcy for it, and some companies achieve another boom. Debt financing is cheaper than equity financing, and tax shield would also be attractive for choice of high debt capital structure. Potential LBO companies should be mature,

Financial services sector is fundamental to economic growth and development in all advanced economies. Financial services such as banking, savings and investment, insurance, and debt and equity financing constitute a nation’s economic engine by fulfilling three core functions in the economy. Firstly, these services provide financial intermediation functions between savers/investors that are lookin

Japan is ageing and the proportion of people aged 65 or older is expected to reach 29.9%. Given that the system is not changed, forecast of health spending in 2025 is done taken demographic change into consideration. 8.38% of GDP will be needed for health care (acute care) and 2.62% for long-term care. Considering the fact that Japan has spent 5% less than OECD average for health and that the curr

Syfte: Att med hjälp av optimal arbetslöshetsförsäkringsteori samt empirisk analys – genom en jämförelse mellan länder – undersöka om, och hur, utformandet av de olika fragmenten i en arbetslöshetsförsäkring förklarar arbetslöshetsgraden. Metod: Problemet kommer att angripas med såväl optimal ekonomisk teori som med ekonometri. En multipel regressionsanalys med tvärsnittsdata är den modell som kom

The purpose of this essay is to investigate the question of which factors affect Swedish real estate prices of small-house dwellings. Previous studies have commonly used a limited number of variables. In contrast, we extend the number of variables in this study. Previous studies indicate that interest, disposable income and demographical factors have most influence on real estate prices. However,

The period of 1880-1910 was a time of fast modernization and industrialization in Transylvania. Fertility decline only started in the South, while in the North there was a marked fertility increase. This paper attempts to explain these differences, using a cross-sectional analysis of fertility for 4112 Transylvanian settlements. The factors affecting fertility are modeled using the Eastrelin-Crimm

Abstrakt Den här uppsatsen undersöker vilka konsekvenser utifrån humankapitalteorin, som en senarelagd högskolestart och en förlängd tid i studierna som kan uppstå utifrån ett individekonomiskt och ett samhällsekonomiskt aspekt. För att teorin ska förankras i verkligheten har jag valt att utgå i från en empirisk studie som undersöker studieuppehållens inverkan på löner och inkomster. Uppsatsen und

This paper explores the concept of Value-at-Risk (VaR) through a comparative study of nonparametric and parametric models in order to find the best risk model for banks’ trading portfolios. The non-parametric methods consist of three different approaches: Simple Historical Simulation, Age Weighted Historical Simulation and Volatility Weighted Historical Simulation by means of the EWMA and GARCH mo

Uppsatsen behandlar användningen av Urkund, samt den upplevda användbarheten hos detta system bland undervisande personal vid Lunds universitet. Vår huvudfråga lyder: ”Hur användbart är plagiatkontrollsystemet Urkund?”. Denna besvaras med hjälp av underfrågorna: ”Hur ser användningen av Urkund ut bland universitetslärare på Lunds universitet?” och ”Hur upplever universitetslärarna Urkund?”. Detta

The paper looks into volunteering in Sweden, with the aim to explain why people volunteer and who volunteers. Theories of why individuals volunteer are explored from two perspectives; volunteering as a good demanded by the individual and volunteering as the supply, by individuals, of unpaid labour. The question of who volunteers in Sweden is addressed by analysing the determinants of volunteer lab

In 2007 the largest landlord in Malmö, MKB fastighets AB, performed a survey amongst all their tenants. In this thesis we have analysed MKB’s approach in the survey, we have looked at their results and we have suggested ways to lower the costs without getting a poorer result. We started by comparing MKB’s package of measures with the results we got from our analysis in SPSS Statistics and finished

The relations between demographic indicators and economic business cycles have been proven many times for historical and modern populations. The results from these studies indicated clear connections for demography and economy. Absence of this study for Turkey motivated me to investigate this phenomenon from marital fertility aspect. The aim of the study is to analyze the clear marital fertility r

Web 2.0 is a debatable term and draws much argument. In spite of one’s opinion towards the term, Web 2.0 tools such as blogs, wikis, podcasts and RSS feeds are enormously used in learning environments. In this sense, the overall purpose of this research was to investigate potential of using different Web 2.0 tools in collaborative learning as well as their advantage. Four interviews have been cond

This thesis deals with the topic of effectiveness of automatic stabilization in Sweden from 1970 and onwards. A simple model of how the business cycle affects taxes (through the automatic stabilizers) is used to construct new series for disposable incomes, aggregate demand components and finally aggregate demand. The effectiveness of the automatic stabilizers is measured using the ratio of the roo

Studiens syfte var att undersöka hur svenska elitlöpare i Sverige arbetar effektivt med målsättning och om det kan finnas ett samband mellan en effektiv målsättning och elitlöparens personlighet. Målsättning ses som en av de mest vanliga strategierna för att förbättra prestation, men alla vet inte hur de ska använda den för att maximera effekten i förhållande till individuella skillnader. 26 deltaThe aim of this study was to investigate how elite distance runners in Sweden work effectively with goal setting and whether effective goal setting is related to the athlete’s personality. Goal setting is one of the most commonly used strategies to enhance performance, but it is not widely known how to use it effectively with respect to individual differences. 26 participants were interviewed rega

This thesis investigates the main obstacles preventing PLWHA in Jamaica from accessing treatment. Currently the number of PLWHA accessing treatment in Jamaica is lower than would be expected. This research utilises qualitative data collection methods in order to canvass the views of a broad range of individuals involved in the fight against HIV in Jamaica. These include PLWHA, NGO workers, Civil

Background: In a perfect world, a company would not have to keep any cash at all but because of market imperfections created by information asymmetries and agency problems it has to. Previous research has suggested that a firm’s cash holding level is related to its size, growth opportunities and leverage. The Swedish market is particularily interesting to study from a corporate governance perspect

Mergers and acquisitions on the Swedish market 1997-2009 have created value of approximately 3.5 percent on average measured as abnormal returns. The results are statistically significant. No significance was found for the explanatory regressions and thus we can not find any guidance for managers of when it is preferable to engage in M&A transactions.

The energy industry in Europe has been exposed to major changes since the early 1990s. What effects this changing market scene has had on the companies active in the energy industry is an interesting research area. We aimed in this thesis to investigate what were the determinants behind firms engaging in M&A transactions, between the years 1995 and 2005, based on theories and hypotheses that a

Examensarbetets titel: FÖR ÄNDRINGENS SKULL – en studie av hur ledarskap kan användas som verktyg för att styra en förändring. Seminariedatum: 2009-06-03. Ämne/kurs: FEKP01, Examensarbete magisternivå, Företagsekonomi, Strategi, 15 HP. Författare: Simon Madeling, Henrik Möller & Stefan Olsson. Handledare: Anna Jonsson & Magnus Nilsson. Fem nyckelord: Ledarskap, kommunikation, change manage