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The academic field of followership is, in relation to leadership, considerably unexplored. Numerous academic subfields and theories have emerged within the school, the most influential being a four frame model developed by Robert E. Kelley. The model divides followers on the two dimensions active and critical thinking, into five categories: Sheep, alienated, pragmatist, yes-people and effective fo

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The purpose of this paper is to contribute to the existing research within the subject of the Magic Formula. The investment strategy will be tested on historical data for companies on the Stockholm stock exchange during the period 2007-04-01 to 2017-03-31. The return will be benchmarked against OMXS30 as an indicator of the market return. In addition to comparisons between the return of the Magic