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The Presence of Behavioral Biases Among Cryptocurrency Investors in Sweden with a Gender Perspective

This study investigates the presence of behavioral biases among cryptocurrency investors in Sweden and examines whether differences exist between males and females. Specifically, the behavioral biases of herding effect, conservatism, prospect theory, availability bias, and overconfidence are analyzed. The study employs four regressions in the statistical software Stata, with the presence of each b

Empowering the Unbanked: How Technology Transforms Microfinance

The aim of this study is to examine the implications of technological advancements on micro- loans and to assess whether these changes have influenced the standard of living for individuals living in extreme poverty. To achieve this, a panel dataset comprising 37 individual data points over a 19-year period is utilized. The analysis is conducted using a Fixed Effects regression model for the first

Prediktering av avkastningar med maskininlärning

Prediktion av avkastningar är en utmanande uppgift eftersom finansiell data är komplex med hög volatilitet och mycket brus. I denna studie appliceras Random Forest-modellen på data från den svenska respektive amerikanska aktiemarknaden för att identifiera vilka variabler som bäst predikterar avkastningen, och hur deras relevans samt Random Forest-modellens prestanda skiljer sig mellan aktiemarknad

Large Language Models and Sectoral Employment in Sweden: A Multi-Cutoff Difference-in-Differences Analysis

This thesis investigates whether recent Large Language Models (LLMs)—notably ChatGPT—have influenced sectoral employment in Sweden. Using a multi-cutoff Difference-in-Differences (DiD) design centered on the dates November 2022 (initial ChatGPT release), September 2023, March 2024, we compare employment changes in high vs. low-exposure sectors classified via exposure metrics from Eloundou et al. (

Maximizing ESG and Sharpe Ratio: A Dual Perspective on AP Fund Investments - An Analysis of Sustainability and Portfolio Optimization in Swedish National Pension Funds

This paper evaluates the efficiency of the distribution of pensionable income between the Swedish National Pension Funds – AP1, AP2, AP3, and AP4 – and their Environmental, Social, and Governance (ESG) investment preferences. Through portfolio optimization over 21 years (2003-2023), the results reveal nearly perfect correlations between the Funds, indicating limited benefits from diversification.

Sökandet av hälsoinformation via internet och dess effekt på efterfrågan av sjukvård

This study aims to examine how health information searched on the internet affects the demand for health care. The method used to examine this relationship is two different fixed effect IV regression models with clustered standard errors. Data was collected from OECD data bank and Eurostat. It includes 25 European countries during the time period 2010 - 2022. The search for health information on t

From Mines to Mayhem: The Dynamics Between Commodity Prices and Conflict in Democratic Republic of the Congo

This thesis explores the causal relationship between exogeneous price shocks on commodities and the level and intensification of violence in the Democratic Republic of the Congo during the year 1989 to 2023. To empirically test this relationship, fixed effects regression models has been used to analyze the effects of these shocks across the 26 provinces that makes up the Democratic Republic of the

The E in ESG and Its Relationship to Stock Returns

In this paper, we assess the relationship between the environmental pillar score (the ‘E’ in ESG) and stock returns in the Swedish stock market. Specifically, we analyze the OMXS60 index, which comprises the 60 most traded assets on the Nasdaq OMX Stockholm Exchange, examining how environmental ratings correlates with the development of returns. Additionally, we investigate how this relationship i

The effects of preferential trade agreements on income inequality

The 1980’s and 1990’s was a time for increased global trade liberalisation, when more countries started to join preferential trade agreements with other states. At the same time, income inequality increased in some parts of the world. The role of trade in increasing income inequality has been debated by previous research, and has not been able to come to a conclusive answer. A central question is

Är korruption en viktig determinant för hur FDI påverkar ekonomisk tillväxt?

Denna studie syftar till att undersöka om FDI påverkar ekonomisk tillväxt i Subsahariska Afrika och om effekten av FDI påverkas av graden av korruption i landet. Studien genomförs med hjälp av en multipel regressionsanalys baserad på paneldata från Subsaharas 48 länder mellan åren 2004–2023. Studien utreder först om FDI har en direkt effekt ekonomisk tillväxt och sedan om interaktionen mellan FDI

IPO Underpricing in the Swedish Market: A 21st Century Analysis

IPO underpricing is a researched phenomenon, with academics trying to understand its causes. This study investigates the potential explanations for this event, focusing on the Swedish market from 2000 to 2023. Using a dataset comprising 539 IPOs, including 253 technology firms, the analysis investigates how firm characteristics, market conditions, and sector affiliation influence first-day returns

Market Inefficiencies and Momentum Profitability: Evidence from American Chapter 11 Bankruptcy Stocks

This thesis investigates market inefficiencies in Chapter 11 bankruptcy stocks, focusing on whether short-term momentum can yield positive returns. Chapter 11 equities, characterised by minimal fundamental value and retail-driven speculation, offer a unique setting to examine behavioural biases and trading dynamics. A dataset of 40 stocks from 2012-2024 was employed to implement a momentum strateg

Bidrar överkonfidens till nedgången på aktiemarknaden i samband med kriser?

This study explores the overconfidence bias effect on stock market dynamics in Sweden and the US. Using an OLS model with lagged variables during the period 1996-2023, the findings reveal significant delayed effects of overconfidence on the Swedish stock market. Gender- adjusted overconfidence measure provides limited explanatory power, while the volatility index highlights the high correlation be

Effekter av kortvariga tullar: En fallstudieom införandet och avskaffandet av EU:s tilläggstullar på träningsredskap och dess kortsiktiga effekter på importvolymer

That an additional tariff of 25 percent could go unnoticed in global trade might seem unlikely, but the findings of this study suggest exactly that. Against the backdrop of escalating trade tensions between the EU and the US, this study examines both the immediate and short-term effects of the EU's temporary additional tariff of 25 percent on the import of exercise equipment. By focusing on th

From Fama-French to LSTM: Rethinking Risk Factors in the Swedish Stock Market

This paper investigates the application of a Long Short-Term Memory (LSTM) model to construct a forward-looking risk factor for asset pricing. The LSTM model's predictions are utilized to create a novel risk factor, derived from long-short portfolios, offering an innovative approach to decomposing asset returns. For comparative analysis, the Fama-French three-factor (FF3) and Carhart four-fact

The future of international trade relations and trade agreements post-U.S. presidential election

The thesis examines the impact of the Trump and Biden administrations on international trade relations and agreements, specifically comparing their trade policies. It explores how their contrasting approaches—Trump's protectionist stance versus Biden's multilateral cooperation—have influenced global trade dynamics through a mixed-methods approach for analysis. The research incorporates bot

From Crude to Clarity: Rethinking Oil Price Predictions

Oil price forecasting is critical for financial markets, economic and geopolitical stability, and has a direct impact on the energy transition. Therefore, practitioners in the financial industry strive to understand the key drivers of the oil price and determine its best prediction model. This thesis investigates whether the exchange rates of oil-importing countries have predictive power in explai

Aktieåterköps påverkan på avkastning: En empirisk studie av återköp genomförda på Nasdaq Stockholm

The number of listed companies that decide to buy back their own shares has increased significantly in Sweden in recent years. This paper examines whether buybacks of companies listed on Nasdaq Stockholm have resulted in abnormal returns for the companies' shares. The study covers buybacks carried out during the period 2015 to 2024. The return is measured as the cumulative return from the da

Elektrifiering utan stöd: En studie av elbilsmarknaden när subventioner försvinner

Within the upcoming decade many countries have the ambition of banning the sale of new cars that emit carbon dioxide in order to reduce greenhouse gas emissions from the transport sector. Electric cars have been established as a key solution to combat climate change by replacing traditional internal combustion engine (ICE) vehicles which are being banned. To support the transition from ICE vehicle

Universal Basic Income: Work or Leisure?

This thesis explores the potential effects of universal basic income on labor supply and leisure allocation among employed individuals in Sweden. Grounded in the standard neoclassical labor-leisure framework, the study utilized an online survey targeting Swedish workers to investigate whether a monthly universal basic income of 12,208 SEK would reduce working hours and how individuals might reallo