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Mark, Daniel L. "Investment technolgy for trading business delineating requirements, processes, and design decisions for order-management systems /." [Denver, Colo.] : Regis University, 2008. http://165.236.235.140/lib/DMark2008.pdf.
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Hardman, Stephen. "Can a tools-based implementation of lean in the manufacturing industry provide attractive investment opportunities for shareholders." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/6169.
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Thesis (MBA (Business Management))--Stellenbosch University, 2008.<br>ENGLISH ABSTRACT: The concept of a business existing to fulfil the wants and needs of the various stakeholders acknowledges that the prime goal of any commercial business is that of profit maximisation and the resultant stock price maximisation (Brigham & Ehrhardt, 2002:10). Any decision by the senior management or the board of an organisation should be primarily in the interest of its shareholders. It follows that any decision that does not add shareholder value subtracts from shareholder value; in other words, decisions must impact the bottom line financially. The manufacturing sector has seen its fair share of methods, interventions and programmes aimed at cost reduction and profit maximisation through a variety of total quality management (TOM), statistical process control (SPC), right/downsizing, efficiency improvements and yield maximisation. One of the most enduring and successful of these has been the advent of the lean manufacturing philosophy, defined as the complete and thorough elimination of waste to reduce the time line from receipt of customer order to delivery. It is a process-focused philosophy and not results focused, the belief being that the elimination of waste from all aspects of the process will ultimately result in financial success. Toyota have developed, and perfected more than most, the concept of lean manufacturing. They have termed their lean initiative the Toyota Production System (TPS). At the core of TPS is the concept of one piece flow controlled by customer pull. Given the success derived from TPS by Toyota it is only natural that other organisations have shown interest and have attempted, in varying degrees of success, to copy the TPS. But the magnitude of attempting to change the philosophy of an organisation in the short term is a daunting task and it is understandable why adopters of a lean way forward have rather turned to the lean tools as drivers of the process and value. The attraction of lean tools is that they can be applied in many areas of an organisation independent of one another. Organisations have a range of needs that need to be satisfied which include growth, increased profits, cash now and talent retention. The need to decide what interventions to apply when and where and what impact to profit and share value is of paramount importance to decision makers of organisations. By analysis of the results of a global industrial packaging company's efforts to implement lean through a tool-based approach, this study attempts to offer guidance to those organisations interested in implementing lean tools. The tools employed comprise four operational and three commercial tools. A financial model examining the impact of the tools on financial metrics is then developed and tested. The results show that the impact of the applied tools impact directly financial metrics used by investors to assess the relative attractiveness of an organisation's shares for the period 2003 to 2007. Further research should be conducted to determine the performance of the organisation for a ten to fifteen-year period to determine future success.<br>AFRIKAANSE OPSOMMING: Die konsep dat 'n sakeondememing bestaan om die verwagtinge en behoeftes van die onderskeie rolspelers te dien erken dat maksimale wins en die gevolglike optimale aandeleprys die primere doelwitte van enige kommersiele onderneming is (Brigham & Ehrhardt, 2002:10). Enige besluit deur die senior bestuur of the direksie van 'n ondememing behoort dus primer in die belang van sodanige ondememing se aandeelhouers te wees. Gevolglik sal enige besluit wat geen waarde tot die aandeelhouer bied nie, sodanige waarde verminder en moontlik lei tot disinvestering; met ander woorde, besluite moet finansieel 'n invloed op winsgewendheid he. Die vervaardigingsektor het al verskeie metodes, ingrypings en programme beleef wat gemik is op kostevermindering en winsverhoging deur middel van 'n verskeidenheid van algehele kwaliteitsbestuur ("total quality management"), statistiese prosesbeheer ("statistical process control"), herstrukturering deur middel van sogenaamde afskaling ("rightdownsizing"), verbetering van effektiwiteit en opbrengs. Een van die standhoudendste en suksesvolste van hierdie is die skep van die "spilvrye" vervaardigingsfilosofie ("lean manufacturing philosophy") wat gedefinieer word as: die totale en volledige eliminering van verspilling om die tydsverloop tussen die ontvangs van die klient se bestelling tot die aflewering te verminder. Die aanname word gemaak dat die eliminering van verspilling vanuit alle aspekte van die proses uiteindelik finansiele sukses tot gevolg sal he. Die filosofie is dus gefokus op die proses en nie op resultate nie. Toyota het die konsep van "spilvrye"-vervaardiging ontwikkel en, meer as ander, vervolmaak en verwys na hul inisiatief as die "Toyota Production System" of TPS. Sentraal tot die TPS is die konsep van enkel-aaneenlopende produksievloei beheer deur klienteopdrag en -behoefte. As gevolg van Toyota se sukses met die toepassing van die TPS is dit te verwagte dat ander organisasies belangstelling sou toon en met wisselende sukses gepoog het om die TPS na te boots. Om die filosofie van 'n organisasie in die kort termyn te verander is so 'n omvangryke taak dat dit begryplik is waarom nuwe bekeerlinge tot die "spilvrye" -filosofie eerder "spilvrye"-instrumente verkies as die dryfvere van die proses en waarde. Die aantrekkingskrag van "spilvrye"-instrumente is dat dit onafhanklik van mekaar in baie areas van 'n organisasie deur individue, werkspanne of konsultante aangewend kan word. Insluitend groei, die verhoging van wins, kontantvloei en die behoud van talent, het organisasies uiteenlopende behoeftes wat aangespreek moet word. Dit is van die uiterste belang vir besluitnemers van organisasies om te besluit op toepaslike ingryping, wanneer en waar, asook die uitwerking op wins en aandeelwaarde. As 'n poging om belangstellende organisasies te help, bied hierdie studie 'n analise van die resultate voortspruitend uit 'n globale industriele verpakkingsmaatskappy se pogings om die "spilvrye" konsep deur middel van 'n instrument-gebaseerde benadering te implementeer. Die resultate toon dat die impak van die toegepaste instrumente 'n direkte invloed het op die finansiele meetinstrumente, wat deur beleggers aangewend word om die relatiewe aantrekkingskrag van 'n organisasie se aandele vir die tydperk 2003 tot 2007 te bepaal. Om toekomstige sukses te bepaal behoort verdere navorsing egter gedoen te word ten opsigte van die organisasie se prestasie oor 'n tien- tot vyftien-jaar tydperk.
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Sohn, SugJe. "Modeling and Analysis of Production and Capacity Planning Considering Profits, Throughputs, Cycle Times, and Investment." Diss., Georgia Institute of Technology, 2004. http://hdl.handle.net/1853/5083.
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This research focuses on large-scale manufacturing systems having a number of stations with multiple tools and product types with different and deterministic processing steps. The objective is to determine the production quantities of multiple products and the tool requirements of each station that maximizes net profit while satisfying strategic constraints such as cycle times, required throughputs, and investment. The formulation of the problem, named OptiProfit, is a mixed-integer nonlinear programming (MINLP) with the stochastic issues addressed by mean-value analysis (MVA) and queuing network models. Observing that OptiProfit is an NP-complete, nonconvex, and nonmonotonic problem, the research develops a heuristic method, Differential Coefficient Based Search (DCBS). It also performs an upper-bound analysis and a performance comparison with six variations of Greedy Ascent Procedure (GAP) heuristics and Modified Simulated Annealing (MSA) in a number of randomized cases. An example problem based on a semiconductor manufacturing minifab is modeled as an OptiProfit problem and numerically analyzed. The proposed methodology provides a very good quality solution for the high-level design and operation of manufacturing facilities.
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Gantz, Frederick Albrecht. "An overview of asset allocation processes and their importance in portfolio management." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52118.
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Assignment (MComm)--University of Stellenbosch, 2001.<br>ENGLISH ABSTRACT: Rapid development of asset pricing models, asset return prediction models,
information technologies, and the integration and globalisation of world
economic markets, require the investor to have a fundamental understanding
of the role of asset allocation (diversification) and the various strategies
available in achieving investor's risk and return objectives.
Assets are allocated across different asset classes in an attempt to optimise the
combination of investment returns and investment risk. In this way your
investment will not be subject to the volatility of anyone asset class alone. It
is important to note that the movements of one class of assets (stocks, bonds or
cash) may be somewhat offset by the non-correlated movement of a different
class of assets. The intent of asset allocation is not necessarily to increase
return as much as it is to fmd the accepted rate of return, while simultaneously
reducing risk or maintaining it at a predefined level.
This study explores the underlying theories concerning the relative importance
of asset allocation in determining portfolio performance, and the three primary
asset allocation strategies available. It also discusses relevant theory of how
the predictability of asset returns and the investment horizon of a portfolio can
have an impact on which asset allocation strategy to utilize in achieving the
necessary risk and return objectives of the investor.<br>AFRIKAANSE OPSOMMING: Die toenemende ontwikkeling van bate prys modelle, modelle wat die
opbrengs van bates vooruitskat, informasie tegnologie, asook die integrasie en
globalisering van internasionale ekonomiese markte, vereis dat die
investeerder 'n omvangryke kennis moet beskik oor die rol van bate allokasie
(diversifisering) en die verskillende strategië beskikbaar tot die bereiking van
investeerder risiko en opbrengs doelwitte.
Bates word geallokeer tussen verskillende bate kategorieë (aandele, effekte of
kontant) in die poging om die kombinasie tussen belegging opbrengste en
belegging risiko te optimaliseer. Sodoende word die belegging nie blootgestel
aan die onbestendigheid van slegs een bate kategorie nie. Daar moet gelet
word dat die beweging van een kategorie van bates (aandele, effekte of
kontant) teengewerk kan word deur die nie-korrelerende beweging van 'n
ander kategorie van bates. Die voorneming van bate allokasie is nie
noodwendig die toename van opbrengste nie. Daar word gestreef na die
bereiking van 'n aanvaarbare opbrengskoers, terwyl risiko verminder word of
volhou word op 'n voorafbepaalde vlak.
Hierdie studie ondersoek die onderliggende teorieë rakende die relatiewe
belangrikheid van bate allokasie om portefuelje opbrengste te kan bepaal,
asook die drie primêre bate allokasie strategieë beskikbaar. Relevante teorie
word bespreek, betreffende die vooruitskatting van bate opbrengste en die
horison van 'n portefuelje, asook die impak wat beide het op die keuse van 'n
geskikte bate allokasie strategie, om sodoende aan die nodige risiko en
opbrengs doelwitte van die investeerder te kan voldoen.
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Argerich, Jaume. "Screening Criteria for Business Angels Investments." Doctoral thesis, Universitat de Barcelona, 2014. http://hdl.handle.net/10803/145905.
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Business angels invest directly in unquoted companies managed by someone else who is not a relative and represent an important source of funds for new start-ups (~1.0% of GDP according to the GEM). This doctoral thesis addresses and contributes in two issues in business angels’ research, the disparity of definitions and contradictory evidence on business angels screening criteria in previous literature.
The research identifies and discusses 10 definitional issues, investigates how definitional choices are driven by sampling methodologies and to what extent they impact study results. The review of 24 previous studies proves that there are multiple definitions, often chosen due to the sampling methodology employed and that the use of inconsistent definitions leads to study different population of investors with different results. The study advocates for a consensus definition, preferably wide, and proposes a framework to advance towards that.
Based on statistical analysis of a database of 215 projects and using three different sources to avoid bias (investor, entrepreneur and project documentation), the research concludes that the screening phase is critical within the investment process (45% rejection rate) and that success is driven by presentational skills, rather than the business opportunity or the entrepreneurial team. Sector, development stage and macroeconomic environment do not influence investment criteria. At the initial screening, business angels take their decisions based on intuitive and intangible aspects, rather than on rational considerations and tangible elements, such as the business opportunity or the entrepreneurs’ credentials. The comparison of results with previous research based on investors recollections, rather than actual behaviour, suggests that investors are not fully aware of the criteria they effectively use. In the informal venture capital market, investment process inefficiencies are as important as market inefficiencies (lack of information or investment projects) previously researched.
The findings should lead to assess the measures of support for business angels implemented to date, based on data on big investors, to target smaller investors on issues of diversification, continuity of investment history and avoiding investment process inefficiencies.<br>Els inversors privats o business angels inverteixen directament en empreses cotitzades gestionades per un tercer no familiar i representen una de les fonts principals de fons per noves empreses (~1.0% del PIB segons el GEM). La tesi aporta en dos punts de la recerca en inversors privats; la disparitat de definicions i l’evidència contradictòria sobre els seus criteris de filtratge de projectes.
La recerca identifica i argumenta 10 problemes de definició, investiga com la tria de definicions està influïda per la metodologia de mostratge emprada i com impacta al seu torn en els resultats. La revisió de 24 estudis anteriors demostra que hi ha múltiples definicions, a vegades escollides en funció de la metodologia de mostreig i que l’ús de definicions inconsistents porta a diferents resultats. L’estudi defensa una definició de consens, preferiblement àmplia, i proposa un marc conceptual per facilitar-ho.
Basant-se en l’anàlisi estadístic d’una base de dades de 215 projectes i utilitzant 3 fonts diferents per evitar biaix (l’inversor, l’emprenedor i la documentació del projecte), la recerca conclou que la fase de filtratge inicial és crucial dins del procés d’inversió (45% taxa de refús) i que l’èxit en la fase de filtratge depèn sobretot de les habilitats presentacionals enlloc de l’oportunitat de negoci o de l’equip emprenedor. El sector d’activitat del projecte, el desenvolupament o l’entorn macroeconòmic no influeixen en els criteris d’inversió. En la fase de filtratge inicial els inversors prenen les seves decisions basant-se en la intuïció i aspectes intangibles, enlloc de consideracions racionals i elements tangibles, com l’oportunitat de negoci o les credencials de l’emprenedor. La comparació amb resultats d’estudis anteriors basats en els inputs dels inversors suggereix que els propis inversors no són totalment conscients dels criteris utilitzats efectivament. En el mercat de capital risc informal, les ineficiències del procés d’inversió són tan importants com les ineficiències de mercat (falta d’informació o falta de projectes) investigades anteriorment.
Les conclusions haurien de portar a revisar les polítiques de suport als business angels implementades fins ara, definides a partir de grans inversors, per abordar inversors més petits amb problemes de diversificació, continuïtat de l’activitat inversora i ineficiències en el procés inversor.
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Rasmussen, Josefine. "The Investment Process for Capital Investments : The case of industrial energy-efficiency investments and non-energy benefits." Licentiate thesis, Linköpings universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-126367.
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Capital investments play a crucial role for the business of every firm. In an industrial context, energy efficiency is an important means to meet future energy needs and in the same time reduce climate impact. In this thesis, the investment process for capital investments is therefore studied by addressing the case of industrial capital investments improving energy efficiency. The thesis specifically aims to illuminate how additional benefits, i.e. non-energy benefits, are and can be acknowledged in the investment process by applying an ex-ante perspective. The thesis holds the decision-making process as unit of analysis and aims to contribute with insights on firm level. Especially in an energy-efficiency context, such a process perspective has only been scarcely applied. The thesis is based on a literature review and two empirical studies. The literature review is the starting point of the thesis and reviews the literature on benefit concepts and investment behaviour of energy-efficiency investments. It is then followed by an explorative study in which thirteen industrial Swedish firms are interviewed on how they consider non-energy benefits. Investment motives and critical aspects for adopting energy-efficiency investments are also addressed. It also includes a questionnaire, distributed and collected during a networking event for energy-intensive firms within Swedish manufacturing industry. The second empirical study is a case study conducted at a Swedish pulp and paper firm. It aims to take a comprehensive perspective on the investment process as well as to analyse how and when non-energy benefits are acknowledged in the investment process. This case study approach enables participants at different levels in the organisation to be engaged in the study and new perspectives to be addressed. The results indicate a general investment process passing through the phases identification, development and selection. Investment motives, information, internal coordination and external actors appear as key aspects of the investment process. Energy-efficiency investments are primarily initiated due to cost-savings motives. However, the subsequent investment process appears as consistent for all investment categories; the investment process described here is thus not specific for energy-efficiency investments only. The results instead indicate an investment process influenced by investment size; it influences the extent to which information is collected and assessed before making the decision, i.e. level of procedural rationality, as well as how the investment project is coordinated within the firm. Last, suppliers are involved in the investment process to a large extent from an early stage. Regarding non-energy benefits, the results indicate that various benefits have been observed but far from all are acknowledged in the investment process. They are to a larger extent acknowledged for larger investments when more resources are devoted to the investment process. Quantifiable non-energy benefits improve the business case for energy-efficiency investments and non-energy benefits should thus be quantified to the extent possible. Yet, nonenergy benefits characterised by a lower level of quantifiability could still be important, such as benefits related to work environment, and should therefore be considered. However, the findings indicate a frequent use and reliance upon an investment manual, implicating a need for simplicity when addressing the additional benefits. This indicates that there should be an emphasis on a limited number of main benefits, rather than seeking to acknowledge all possible benefits.
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Johansson, Josefin, and Ida Aggerstam. "En grönare investeringsbedömning : En fallstudie om Södra Skogsägarnas hållbara investeringsbedömning." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-86079.
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Inledning: Studien har sin utgångspunkt i ett praktisk problem på Södra Skogsägarna angående en upplevd svårighet att bedöma hållbara investeringar. Att göra investeringar med hållbarhetshänsyn har blivit allt vanligare vilket kan bero på den ökade uppmärksamheten kring ämnet. Södras verksamhet präglas av en mängd investeringar vilka är betydelsefulla för företagets framtid och överlevnad. Syfte: Syftet med studien är att definiera och kartlägga vad hållbara investeringar är. Författarna ska även analysera Södras investeringsbedömning och hur de hanterar hållbarhetsaspekter i den. Studien ska bidra till att ge ett förslag på hur företag kan anpassa sin investeringsbedömning för att bättre ta hänsyn till hållbarhetsaspekter. Metod: Denna studien är en empiriskt driven fallstudie av kvalitativ karaktär. Det teoretiska materialet baseras på vetenskapliga artiklar och litteratur från Linnéunivesitets bibliotek. Det empiriska materialet grundar sig på semistrukturerade intervjuer och dokument. För att studien ska anses vara trovärdig har vi beaktat ett antal kvalitetskriterier och forskningsetiska överväganden. Slutsats: Slutligen ges rekommendationer på hur Södra Skogsägarna kan anpassa sin inventeringshandbok och investeringsrutin för att beakta hållbara investeringar. Huvudsakligen handlar det om hur företaget ska hantera klassindelning, kalkylmetoder, kalkylränta och kvalitativ information.<br>Introduction: The study is based on a practical problem at Södra Skogsägarna regarding a perceived difficulty in consider sustainable investments. Making investments with sustainability considerations has become increasingly common, which may be due to the increased attention to the subject. Södra's operations are characterized by a large number of investments which are important for the company's future and survival. Purpose: The purpose of the study is to define and map what sustainable investments are. The authors will also analyze Södra's investment appraisal and how they handle sustainability aspects in it. The study will help to give a suggestion on how companies can adapt their investment assessment to better take into account sustainability aspects. Method: This study is an empirically driven case study of qualitative character. The theoretical material is based on scientific articles and literature from the library at Linnaeus University. The empirical material is based on semi-structured interviews and documents. For the study to be considered credible, we have considered a number of quality criteria and research ethical considerations. Conclusion: Finally recommendations are made on how Södra Skogsägarna can adapt their investment manual and investment routine to consider sustainable investments. It is mainly about how the company should handle class division, calculation methods, interest rate and qualitative information.
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Varšanyiová, Jana. "Analýza investorského prostředí v Evropské unii - specifika problematiky business angels v ČR." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-4177.
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Horgen, Alexandra, and Josef Westling. "En kvalitativ studie om investeringsprocessen i svenska franchiseföretag." Thesis, Södertörns högskola, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-41572.
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Purpose: The purpose of this study is to investigate the investment process within Swedish franchises. Furthermore, the study aims to investigate the franchisees participation in the investment process. Theory: The theoretical framework of reference in this essay consists of hand-picked theories and previous research articles of the investment process and franchise. Method: The thesis is a qualitative case study in which semi-structured interviews have been conducted with four cases. All companies are full members of the Swedish Franchise Association. Empirics: The data collected through semi-structured interviews is presented company á company to make the essay as clear and transparent as possible. Analysis of the empiricism comes in a separate section where the data is set against the theoretical framework of reference. Conclusion: The study results in the absence of a specific model for the investment process of Swedish franchises. The weight the companies put into the different phases of the investment process varies depending on how the franchise concept is structured. The study shows that franchisees participation in the investment process varies for the same reason.<br>Syfte: Syftet med denna undersökning är att undersöka investeringsprocessen i svenska franchiseföretag. Vidare är syftet att undersöka franchisetagarens delaktighet i investeringsprocessen. Teori: Den teoretiska referensramen i denna uppsats består av handplockade teorier och tidigare forskning rörande investeringsprocessen och franchise. Metod: Uppsatsen är en kvalitativ fallstudie där semistrukturerade intervjuer har genomförts med fyra fallföretag. Samtliga företag är fullvärdiga medlemmar i Svenska Franchiseföreningen. Empiri: Den data som samlats in med hjälp av semistrukturerade intervjuer presenteras företag för företag i syfte att göra uppsatsen så tydlig och transparent som möjligt. Analys av empiri presenteras i ett eget avsnitt där datan ställs mot den teoretiska referensramen. Slutsats: Undersökningen påvisar att det inte finns någon specifik modell för investeringsprocessen i svenska franchiseföretag. Tyngden företagen lägger i de olika faserna av investeringsprocessen varierar beroende på hur franchisekonceptet är uppbyggt. Undersökningen visar att franchisetagares delaktighet i investeringsprocessen varierar av samma anledning.
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Malongwe, Pamela. "Business and information strategic alignment of project and procurement management processes in the railway organisation in South Africa." Thesis, Cape Peninsula University of Technology, 2018. http://hdl.handle.net/20.500.11838/2741.
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Thesis (MTech (Business Information Systems))--Cape Peninsula University of Technology, 2018.<br>Railway organisations in South Africa are government parastatals. These organisations have embarked on mega modernisation programmes. Project and procurement process alignment is crucial to the successful implementation of such programmes, as the disconnect between the two processes may result in project cost overruns and escalations. Projects in the parastatal organisations are not completed on or executed according to the planned schedules. The two main research questions are stated as follows:
i) What factors affect the alignment between procurement and project management processes in the South African railway organisation? ii) How can the parastatal organisation align the procurement and project management processes? For the research methodology, a subjectivist ontological and interpretivist epistemological stance was followed. The research approach is inductive, with a case study as strategy. Data collection was done on a non-random, purposively selected unit of analysis and observation. Purposive sampling allows the researcher to rely on his or her own judgement when choosing to participate in the study. Participants were selected based on characteristics of a population and the objectives of the study. The participants belong to three departments, namely IT, SCM, and the Project Management Office (Project Managers). These three departments were selected because of their relevance to the study. Interviews were conducted using semi-structured questionnaires. The instrument used was interview guide. Data was analysed by firstly transcribing the interviews. To confirm the correctness of the interviews, the data was validated. Data was further analysed by means of summarising, categorising, and conducting a thematic analysis. Ethical principles were followed in accordance with the policies and procedure of CPUT. The study revealed that project and procurement process misalignment in the railway sector in South Africa does exists. A detailed discussion of factors contributing to this misalignment are discussed further in chapter five and chapter six is recommendations.
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Boberg, Jesper, Elinor Ekelin, and Carla Hansen. "Investeringar i privat och kommunal verksamhet : En studie om faktorer som påverkar investeringar." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-27310.
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The decisions for investment are forward-looking and the base of a long-term strategy. The research within investment have focused on diverse formulas which are used in financial assessment, which also should be complemented with qualitative evaluation. Consequently, the focus should not only be on the execution of the formulas. Less time have been spent on research concerning what actually initiates the investment proposals and affects the decision-making. This will be highlighted in this essay. The purpose of this study is through understanding for the agency's process of investment and its possible differences, describe and explain those factors which initiate and drive the proposal of investment further in the process. The essay highlights potential differences between public and private agencies. The essay has been completed through a qualitative research point of view, through case studies on a private as well as on a public agency. The empirical material has been collected through semi-structured interviews with people who have great knowledge regarding the agencies of investment on the chosen object of study. The factors with the greatest influence during the process of investment were economy and rivals. Arenastaden was partially affected by the legislation and Holtab to a certain extent. In the case of Arenastaden, the investments were also affected by known athletics profiles and marketing. The external environment influenced Arenastaden's investments, while the internal environment affected the investments of Holtab.<br>Investeringsbeslut är långsiktiga och ligger till grund för en långsiktig strategi. Investeringsforskningen har fokuserats kring olika kalkyler som används vid finansiell utvärdering, vilka bör kompletteras med kvalitativ utvärdering. Därför ska inte fokus endast ligga på utförandet av kalkylmodeller. Mindre tid har ägnats åt att undersöka vad som initierar investeringsförslag och påverkar beslutsfattandet, vilket kommer belysas i denna uppsats. Syftet med denna studie är att genom förståelse för verksamheternas investeringsprocesser, beskriva och förklara de faktorer som initierar och driver investeringsförslag vidare i processen. Uppsatsen belyser eventuella likheter och skillnader mellan kommunala och privata verksamheter. Uppsatsen har genomförts med en kvalitativ forskningsansats genom fallstudier på en privat respektive en kommunal verksamhet. Det empiriska materialet har inhämtats genom semi-strukturerade intervjuer med personer med stor kunskap om investeringsverksamheterna på de valda studieobjekten. Faktorerna ekonomi och konkurrenter hade störst inflytande under investeringsprocessen för båda verksamheterna. Lagstiftningen påverkade främst Arenastaden men också till viss del Holtab. I Arenastadens fall påverkades investeringarna även av kända profiler och marknadsföring. Den externa miljön inverkade på Arenastadens investeringar medan den interna miljön påverkade Holtab.
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Andersson, Jesper, Linn Persson, and Johan Stillerfelt. "Den immateriella investeringsprocessen : En flerfallsstudie i tjänsteföretag." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-65577.
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Kandidatuppsats (2FE24E), Civilekonomprogrammet - Controller, Ekonomihögskolan vid Linnéuniversitetet i Växjö, VT 2017 Titel: Den immateriella investeringsprocessen – En flerfallsstudie i tjänsteföretag Författare: Jesper Andersson, Linn Persson & Johan Stillerfelt Handledare: Pia Nylinder Examinator: Elin Funck Bakgrund och problem: Antalet tjänsteföretag växer ständigt och mer än hälften av alla företag i Sverige verkar inom denna bransch. Vidare är investeringar avgörande för ett företags framtida överlevnad. Mer än hälften av de investeringar som görs i svenska företag är av immateriell karaktär och den största andelen av dessa sker inom just tjänstesektorn. Trots detta faktum är forskning kring investeringsprocessen främst knuten till materiella investeringar i tillverkande företag. Hur ser då investeringsprocessen för immateriella investeringar ut i tjänsteföretag och hur konstrueras och används beslutsunderlag vid beslutsfattande? Syfte: Syftet med denna uppsats är att analysera och kartlägga processen för immateriella investeringar inom tjänsteföretag. Vidare är syftet att bidra med kunskap om problematiken kring konstruktionen av beslutsunderlag samt beslutslogik gällande dessa investeringar. Meningen är att belysa ett ämnesområde som inte tidigare undersökts och på så sätt göra ett bidrag inom ämnet. Metod: Uppsatsen utgår från en övervägande kvalitativ forskningsstrategi där undersökningsdesignen är en flerfallsstudie. Vidare har utgångspunkten för insamlande av empiriskt material varit semistrukturerade intervjuer. Slutsats: Investeringsprocessen för tjänsteföretag avseende immateriella investeringar kan ses som en guide eller riktmärke och består vanligtvis av faserna initiering, bedömning, beslut, utveckling, implementering och uppföljning. Beslutunderlag konstrueras i regel av mellanchefer medan högre chefer tar det slutgiltiga beslutet om investeringen. Beslutet baseras främst på strategiska analyser som kompletteras med enklare kalkyler, erfarenhet och magkänsla. Nyckelord: Tjänsteföretag, investeringsprocess, immateriell investering, beslutsunderlag, investeringsbeslut<br>Bachelor Thesis (2FE24E), Degree of Master of Science in Business and Economics - Controller, School of Business and Economics at Linnaeus University in Växjö, S 2017 Title: The intangible investment process – A multiple case study in service companies Authors: Jesper Andersson, Linn Persson & Johan Stillerfelt Supervisor: Pia Nylinder Examiner: Elin Funck Background and problem: The number of service companies is continuously growing and more than half of all companies in Sweden operate within this branch. Investments are furthermore crucial to the future survival of a company. More than half of the investments in Swedish companies are of intangible character and the major part of these are made within this service companies. Despite this fact research about the investment process are mainly bound to tangible investments in manufacturing companies. Then how does the investment process for intangible investments look in service companies and how is decision basis constructed and used when making decisions? Purpose: The purpose of this thesis is to analyse and map the process for intangible investments in service companies. The purpose is furthermore to contribute with knowledge about the problems connected to the construction of basis for the decision and the logic behind the decision for these investments. The meaning of this is to lighten a subject that is not previously investigated. Method: The thesis is based on a predominantly qualitative research strategy in which the survey design is a multiple case study. Furthermore, the starting point for collection of empirical material has been semistructured interviews. Conclusion: The investment process for service companies in respect to intangible investments could be regarded as a guideline and usually consist of the phases initiation, evaluation, decision, development, implementation and follow-up. Decision basis is commonly constructed by middle-level bosses and the higher management usually makes the final decision about investment. The decision is primarily based on strategic analysis completed by simpler calculations, experience and gut feeling. Keywords: Service company, investment process, intangible investment, decision basis, investment decision
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Sychrová, Jana. "Analýza výrobního procesu ve vybraném podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2018. http://www.nusl.cz/ntk/nusl-377429.
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Thesis „Production Process Analysis in Selected Enterprise” is focused on specific production processes especially their description, possible changes and subsequent evaluation of impact of changes. It includes theoretical bases for production processes, their improvements and investments to production processes. Moreover there are included methods of investment business evaluation and mathematical modeling. Selected company and specific selected process that theoretical methods are applied upon in Maple is in practical portion.
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Fernandes, Tânia Sofia da Costa. "A tomada de decisão dos Venture Capitalists e dos Business Angels : critérios e factores decisórios." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/6814.
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Mestrado em Ciências Empresariais<br>Este trabalho pretende identificar e analisar quais são os critérios mais importantes
utilizados pelos Business Angels e pelos Venture Capitalists no processo de tomada de decisão de investimento às start-ups, e posteriormente, compará-los, de forma a verificar se existem diferenças significativas entre os dois tipos de investidores. Para tal recorreu-se à aplicação de um questionário enviado por email, no qual foi solicitado aos participantes que classificassem a
importância dos critérios propostos com base numa escala do tipo Likert de cinco pontos, de nada importante a muito importante. No total, foram submetidas 15 respostas, 10 por parte dos Venture Capitalists, e 5 provenientes dos Business Angels. A análise dos dados foi efetuada com recurso à estatística descritiva e as hipóteses foram testadas com base em testes não paramétricos. Os resultados indicam que, para os dois tipos de investidores, os critérios mais importantes dizem respeito aos aspetos relacionados com o produto.<br>This study pretends to identify and analyze the most important criteria used by the Business Angels and the Venture Capitalists in the investment process to start-ups, and then, compare them, in order to verify whether there are significant differences between the two types of investors. To this end was used a questionnaire sent by email with a Likert scale with five points,
(between “not important at all” and “very important”), where the investors were asked to rate the importance of the proposed criteria. In total, 15 responses were submitted, 10 by the Venture Capitalists and 5 from the Business Angels. Data analysis was performed using descriptive statistics and hypotheses were tested using non-parametric tests. The findings show that, for the two types of investors, the most important criteria are related to the aspects of the product.
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Pfeiffer, Carl Gustav, and Linnea Sehlberg. "Venture Capital - Investeringsprocessen i ett startup : En undersökning av investeringsprocessen och de viktigaste urvalskriterierna när ett venture capital bolag investerar i ett startup." Thesis, Linköpings universitet, Institutionen för ekonomisk och industriell utveckling, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-167460.
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Bakgrund: Nya bolag är en viktig del i ett lands ekonomiska kretslopp. Det är där nya arbetsplatser, innovation och tillväxt skapas. Nya och unga företag kallas ofta för startup-bolag och startas av en eller flera grundare. En viktig källa för finansiering av dessa företag är s.k. venture capital. Investeringsprocessen och de urvalskriterierna, samt det stödet som en venture capitalist kan komma att erbjuda är av fundamental betydelse för hur industrin fungerar och utvecklas. Syfte: Studiens syfte är att undersöka och analysera vilka steg som kännetecknar VC-bolagens investeringsprocess och de kriterier som portföljbolagen måste uppfylla för att ha en chans att attrahera riskkapital. Vidare ämnar studien att analysera hur VC-bolagen jobbar för att utveckla sina portföljbolag genom utökat engagemang och involvering i post-investmentfasen, samt deras exit ur ett investeringsobjekt. Genomförande: Studien har baserats på tidigare forskning inom ämnesområdet som sedan analyserats via en deduktiv ansats. Information har inhämtats från kvalitativa undersökningar i form av semi-strukturerade intervjuer med kända aktörer inom venture capital-industrin. Slutsats: Studien fastställer att alla VC:s genomför en sekventiell investeringsprocess för att upptäcka intressanta objekt. Av störst betydelse i investeringsbeslutet är faktorer kopplade till humankapitalet, dock finns det även ytterligare kriterier som produkt, marknad och genomförbarhet som påverkar beslut om investering. VC:s tenderar att aktivt arbeta med sina portföljbolag och avslutar sitt engagemang med en exit. Studien finner inte att investerare arbetar med en fördefinierad exitstrategi.<br>Background: New enterprises are an important cog in the machinery of the economy. Newly founded companies are often referred to as startups and compile of one or more entrepreneurs. An important source of financing for these enterprises is venture capital. The investment process, the criteria’s used by investors and the support that they can come to provide are essential for the venture capital industries operation. Objective: The aim of this study is to investigate and analyze the process that VC-companies use when searching for potential investments. Furthermore, the study intends to give an overview of the criteria’s used by VC:s in their final decision making and what measures are taken to develop the portfolio company in the post-investment phase. The study also touches upon the exit-strategies implemented by the investors. Implementation: The essay uses a qualitive and deductive approach, where earlier concluded research is analyzed and compared to the interviews conducted during the study. Conclusion: The study finds that VC:s implement a process that is comprised of sequential steps to identify interesting companies. During the evaluation investors put emphasis on the quality of the entrepreneur and managerial team. However, they also consider other factors related to product, market and viability of the project. Investors try to add value to their portfolio companies in the post-investment phase. The investment is completed through an exit, or cashing-out from the portfolio company. The study does not conclude that investors follow a predefined exit strategy.
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Ågren, Maria, Åsa Bengtsson, and Hanna Lundquist. "Studies Abroad an Investment for the Future? : A Study of What is Valued in the Recruitment Process." Thesis, Jönköping University, Jönköping International Business School, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-507.
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<p>Abstract</p><p>Introduction</p><p>Boarders are shrinking, the world becomes more internationalized and the globalization of society has resulted in increasing demands on universities to adjust their education to the labor market. A growing interest among Swedish students to study abroad and re-ceive an international experience has increased as well. The changes in the environment have affected organizations’ recruitment processes and how they manage their human resources.</p><p>Problem</p><p>Today an ordinary education is not enough, you need to have something unique, some-thing that makes you stand out in the crowd. As a student you are encouraged to study abroad, and many view this as a possibility to broaden their competence. However, it is not known how future employers value and compensate this experience.</p><p>Purpose</p><p>The purpose of this thesis is to examine how university studies abroad are valued when recruiting white-collar workers. The ambition is to provide prospective and current stu-dents with an understanding of the employers’ view of the subject.</p><p>Method</p><p>The empirical data have been gathered by using a qualitative approach and face-to-face interviews have been conducted with the human resource manager at eleven medium- and large-sized organizations, located in Norrköping, Linköping, and Jönköping.</p><p>Conclusions</p><p>We have come to the conclusion that it is difficult to determine specific competences that are preferable in the selection of white-collar workers, however the candidate’s unique competences are somehow reflected in the personality. Organizations view the study abroad experience as rewarding for the candidates personal development and ma-turity. The university study abroad experience might not be valued higher in the future, but the more knowledge and information available, the larger are the benefits for both the organizations and the candidates.</p>
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Persson, Moa, and Sally Nilsson. "Faktorer som påverkar investeringsprocessen : - En komparativ fallstudie om de främsta faktorerna som påverkar investeringsprocessen i svenska kommunägda bostadsbolag." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-85901.
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Bakgrund och problem: Investeringar i företag och samhälle bidrar till en ökad BNPtillväxt därför är det av betydande vikt att identifiera investeringsbegreppet. Investeringar är även avgörande för ett företags framtida överlevnad därav är det viktigt att förstå investeringsprocessen och vilka faktorer som påverkar den. Framförallt är det viktigt att definiera detta i kommunägda bostadsbolag eftersom nya investeringar påverkar nyttan för kommuninvånarna. Trots detta faktum är tidigare forskning kring investeringsprocessens kontext genomförd i aktiebolag. Hur ser då investeringsprocessen ut i kommunägda bostadsbolag och vilka är de främsta faktorerna som påverkar investeringsprocessen? Syfte: Uppsatsens syfte är att skapa en fördjupad förståelse för hur olika faktorer påverkar investeringsprocessen i svenska kommunägda bostadsbolag. Vidare är syftet att belysa ett ämnesområde som inte tidigare har undersökts och därför göra ett bidrag inom ämnet. Metod: Studien har följt en kvalitativ forskningsstrategi och genomfört en komparativ fallstudie som forskningsdesign. Vidare var utgångspunkten för insamling av empiriskt material semistrukturerade intervjuer. Slutsats: Investeringsprocessen i kommunägda bostadsbolag är komplexa eftersom flera intressen och mål ska tillgodoses längs hela investeringsprocessen samtidigt som processen ska utformas i enlighet med offentlighetsprincipen. Faktorer som påverkar investeringsprocessen har identifierats som; Företagsspecifika, Marknadsförutsättningar, Ekonomisk påverkan, Allmännytta och samhällsansvar samt Kommunens intresse. Faktorerna påverkar investeringsprocessen gällande vilka investeringsmöjligheter som finns samt beslutsfattande om hur, vart och vilka investeringar som ska genomföras.<br>Background and problem: Investments in companies and the community creates a higher GDP growth, therefore, it is important to identify the investment concept. Investments are crucial to the future survival of a company hence it is important to understand the investment process and which factors that affect it. This is especially important in municipal-housing companies, as new investments affect the local residents. Despite this fact, research about the investment process has been done in private companies. However, regarding municipal-housing companies how is the investment process and which are the main factors that affect the investment process? Purpose: The purpose of this essay is to create an understanding of how different factors affect the investment process in Swedish municipal-housing companies. Furthermore, is the purpose to lighten a subject that is not previously investigated in. Method: The thesis is based on a qualitative research strategy and comparative multiple case study as a survey design. Furthermore, the collection of empirical material has been semi-structured interviews. Conclusion: The investment process in municipal-housing companies is complex because it has to meet several interests and goals along the whole process, as well as it must follow the principle of public access to official records. Factors that influence the investment process are: Company specific, Market conditions, Economic impact, Public good and the Municipality´s interest. The factors are affecting the investment process regarding the investment opportunities and also the decision making of how, where and which investment project that should be implemented.
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Ågren, Maria, Hanna Lundquist, and Åsa Bengtsson. "Studies Abroad - An Investment for the Future? : A Study of What is Valued in the Recruitment Process." Thesis, Jönköping University, JIBS, Business Administration, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-644.
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<p>Introduction</p><p>Boarders are shrinking, the world becomes more internationalized and the globalization of society has resulted in increasing demands on universities to adjust their education to the labor market. A growing interest among Swedish students to study abroad and receive an international experience has increased as well. The changes in the environment have affected organizations’ recruitment processes and how they manage their human resources.</p><p>Problem</p><p>Today an ordinary education is not enough, you need to have something unique, something that makes you stand out in the crowd. As a student you are encouraged to study abroad, and many view this as a possibility to broaden their competence. However, it is not known how future employers value and compensate this experience.</p><p>Purpose</p><p>The purpose of this thesis is to examine how university studies abroad are valued when recruiting white-collar workers. The ambition is to provide prospective and current stu-dents with an understanding of the employers’ view of the subject.</p><p>Method</p><p>The empirical data have been gathered by using a qualitative approach and face-to-face interviews have been conducted with the human resource manager at eleven medium- and large-sized organizations, located in Norrköping, Linköping, and Jönköping.</p><p>Conclusions</p><p>We have come to the conclusion that it is difficult to determine specific competences that are preferable in the selection of white-collar workers, however the candidate’s unique competences are somehow reflected in the personality. Organizations view the study abroad experience as rewarding for the candidates personal development and ma-turity. The university study abroad experience might not be valued higher in the future, but the more knowledge and information available, the larger are the benefits for both the organizations and the candidates.</p>
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Olin, Anna, and Julia Johnsson. "Immateriella investeringsbeslut : En kvalitativ studie om beslutsprocessen vid immateriella investeringar och faktorer vid immateriella investeringsbeslut." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-86228.
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Bakgrund och problem: Immateriella investeringar har ökat inom det svenska näringslivet och utgör en betydande del av landets totala investeringar. Fortsättningsvis är immateriella investeringar väsentliga för samhällets och företagens produktivitet samt konkurrenskraft. Utvecklingen av immateriella investeringar tyder på att betydelsen av immateriella investeringsbeslut ökat. Trots det uppmärksammas ämnesområdet inte av den nuvarande forskningen eller litteraturen i en större omfattning. Syfte: Syftet är att studien ska bidra till en djupare förståelse angående immateriella investeringar genom att generera kunskap inom ett område som inte tidigare uppmärksammats i en större omfattning. Uppsatsen avser att tillföra information i relation till den immateriella beslutsprocessen samt angående faktorer som anses utgöra en väsentlig påverkan på det immateriella investeringsbeslutet. Metod: Studien avser en kvalitativ flerfallsdesign där fyra företag har utgjort det empiriska underlaget. Vidare genomfördes intervjuerna på ett semi-strukturerat tillvägagångssätt för att erhålla information.Slutsats: De immateriella investeringarnas beslutsprocessen initieras genom en identifiering av problem och målsättning, om företaget har upplevt ett initialt dilemma. Därefter framställs olika investeringsalternativ som utvärderas utifrån väsentliga faktorer. Avslutningsvis genomförs det immateriella investeringsbeslutet av högre insatser i organisationen. Väsentliga faktorer vid det immateriella investeringsbeslutet är lönsamhet, ny teknologi, tillväxt och riskbedömning. Nyckelord: Immateriella investeringar, investeringsbeslut, beslutsunderlag, immateriell beslutsprocess<br>Background and problem: Intangible investments have increased in the Swedish business sector and constitute a significant part of the country's total investments. Intangible investments are essential for the society's productivity and companies competitiveness. The development of intangible investments indicates that the importance of intangible investment decisions has increased. Despite this, the subject area is not noticed by the current research or literature to a greater extent. Purpose: The purpose of this study is that it will contribute to a deeper understanding of intangible investments by generating knowledge in an area that has not previously been recognized to a greater extent. The paper intends to provide information in relation to the intangible decision-making process and regarding factors that are considered to have an impact on the intangible investment decision. Method: The thesis is based on a qualitative multi-case design in which four companies have constituted to the empirical basis. Furthermore, the interviews were conducted on a semi-structured approach to obtaining information.Conclusion: The decision-making process of the intangible investments is initiated through an identification of problems and goals, if the company has experienced a first dilemma. Then there are different investment options that are evaluated based on essential factors. Finally, the intangible investment decision is made by higher units in the organization. Key factors in the intangible investment decision are profitability, new technology, growth and risk assessment. Keywords: Intangible investments, investment decisions, decision basis, intangible decision process
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Witt-Strömer, Jacob, and John Öman. "Investeringsprocessen i tjänsteföretag : En kvalitativ studie om små svenska tjänsteföretags investeringsprocess och deras hänsyn till finansiell risk vid investeringsbeslut." Thesis, Södertörns högskola, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-43788.
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Purpose: The aim of this thesis is to investigate whether there is an established investment process for small Swedish service companies, and to what extent they take financial risk into account when making investment decisions. Theory: The theoretical frame of reference derives from previous research and theories of investment classification, investment processes and risk management in connection with investments. Method and implementation: The study is based on a qualitative approach through semi-structured interviews with six knowledge-based service companies where the respondents hold positions within company management. A supplementary quantitative method from the companies’ annual reports has been implemented. All the companies surveyed are small Swedish service companies. Conclusion: The result shows that there is an investment process in all the companies surveyed, though it differs between them. The investments are relevant with the companies’ business strategies. All the companies surveyed take great account of financial risk in investment decisions, mainly by caring for staff in order to retain the human capital in the company.<br>Syfte: Studien syftar till att undersöka om det finns en fastställd investeringsprocess för småsvenska tjänsteföretag, samt hur och till vilken grad de tar hänsyn till finansiell risk vid investeringsbeslut. Teori: Den teoretiska referensramen härrör tidigare forskning och teorier om investeringsklassificering, investeringsprocesser och riskhantering i samband med investeringar. Metod och genomförande: Studien utgår utifrån ett kvalitativt tillvägagångssätt genom semistrukturerade intervjuer med sex kunskapsbaserade tjänsteföretag där respondenterna innehar positioner inom företagsledningen. En kompletterande kvantitativ datainsamlingsmetod från företagens årsredovisningar har genomförts. Samtliga undersökta företag är små svenska tjänsteföretag med huvudsäte i Stockholm. Slutsats: Studien finner att det i samtliga undersökta företag finns en investeringsprocess, men att den skiljer sig åt mellan företagen. Investeringarna går i linje med företagens verksamhetsstrategi. Samtliga undersökta företag tar stor hänsyn till finansiell risk vid investeringsbeslut, främst genom att vårda personal för att behålla humankapitalet i företaget.
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Ola, Abdel Malik. "L’identification des opportunités d’investissement en incertitude : le jugement intuitif des Business Angels dans le financement des firmes entrepreneuriales." Thesis, Angers, 2016. http://www.theses.fr/2016ANGE0032/document.
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Nous analysons l’identification des opportunités d’investissement dans le cas spécifique du financement de l’amorçage des firmes porteuses d’innovation. L’absence d’informations pertinentes et objectives au démarrage remet en cause la capacité postulée des investisseurs à évaluer objectivement la rentabilité des firmes entrepreneuriales. Ainsi, nous étudions la vraie stratégie psycho-cognitive sous-jacente à la création du sens autour du potentiel des projets en se focalisant sur un acteur spécifique, le Business Angel (BA). Nous postulons que cet investissement suit un processus de jugement intuitif. L’analyse qualitative des notes d’observation et des entretiens permet de construire un modèle décrivant la manière dont le BA produit in situ de nouveaux construits utiles dans sa perception. Nous mettons aussi en évidence des comportements réflexifs réduisant l’erreur dans sa décision. Ainsi, l’intuition du BA doit être vue comme une réelle approche de transformation situationnelle d’indicateurs à travers des manipulations langagières. Nous offrons une nouvelle perspective dans la compréhension du comportement des capital-risqueurs qui sont susceptibles d’accompagner financièrement les firmes innovantes dès leur phase de démarrage. Nos résultats sont aussi généralisables à des contexte où l’aptitude intuitive devant une source d’efficience décisionnelle. Nous faisons des propositions théoriques qui orienteront les études futures<br>We analyze the investment opportunities’s identification in the specific case of the innovative firm financing. The absence of relevant and objective informations at the early stage weaken the investor’s postulated ability inestimating objectively the profitability of the entrepreneurial firms. Then, we study the real cognitivestrategy underlying the sensemaking process around the potential of the projects by focusing on a specific actor, the Business angel (BA). We argue that this investment follows a process of intuitive judgment.The research design is a qualitative inductive approach with data collected by observation and interviews. We build a model of how the BA cognitively interpret the innovative firm’s potential in order to invest. We highlight also cognitive practices in reducting biais and errors during the sensemaking process. The BA’s intuition atearly stage must be viewed as a processus of meaning construction through labelling and speech articulation. This thesis contributes to a better understanding ofventure capitalist behaviors at early stage as well as a better comprehension of how meaning can be created intuitively in uncertain context. Theoretical propositions are made for future researchs
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Karlsson, Tom, and Erik Kroon. "Investeringsmötet mellan analytiker och fondförvaltare : En kvalitativ studie om analytikernas medverkan och dess betydelse för investeringsunderlaget." Thesis, Luleå tekniska universitet, Institutionen för ekonomi, teknik och samhälle, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-74618.
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Investeringsmötet mellan analytiker och fondförvaltare har tidigare fått alldeles för lite ögon på sig. Att analytiker medverkar på investeringsmöten med fondförvaltare kan ses som paradoxalt eftersom det finns mängder av information att erhålla från andra håll. Denna information kan med en första anblick ses som mer lättillgänglig, detaljerad och omfattande. Således syftar denna studie på att skapa förståelse för varför analytiker väljer att medverka i investeringsmöten med fondförvaltare och hur deras medverkan kan påverka investeringsunderlaget. Det empiriska underlaget bestod av kvalitativa intervjuer med sju analytiker från finansiella institutioner samt en deltagande observation av ett investeringsmöte. Utifrån studien kan tre slutsatser dras i form av anledningar till varför en analytiker väljer att medverka och dess betydelse för investeringsunderlaget. Den första slutsatsen är att träffas face-to-face innebär att analytikerna erhåller mer information jämfört med andra informationskällor.Den andra slutsatsen är att analytikerna erhåller mer beslutsavgörande information som de inte kan erhålla till lika stor grad från andra håll. Den sista slutsatsen är att analytikerna kan säkerställa tidigare erhållen information och även sammanväva information från flera olika källor när de skapar sitt investeringsunderlag.<br>The investment meeting between analysts and fund managers has previouslyreceived too little attention. That analysts participate in investment meetings with fund managers can be seen as paradoxical as there are lots of information to be obtained elsewhere. At first this information can be seen as more accessible, detailed and comprehensive. Thus, this study aims to create an understanding of why analysts choose to participate in investment meetings with fund managers and how their participation can affect their investment base. The empirical data consists of qualitative interviews with seven analysts from financial institutions and a participatory observation of an investment meeting. Based on this study, three conclusions can be drawn in the form of reasons why analysts chooseto participate and its consequencefor the investment base. The first conclusion is that meeting face-to-face means that the analystsreceive more information compared to other information sources. The second conclusion is that analysts receive more decision-making information that they cannot obtain to the same extent from other sources. The last conclusion is that analysts can ensure that previously obtained information is correct and also interweave information from several different sources when they create their investment base.
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Hogbäck, Linus, Fanny Johansson, and Austra Kase. "Choosing a Business Partner, Best Friend, and a Spouse : An Exploratory Study of the Evaluation of New Venture Teams by Nordic Venture Capitalists." Thesis, Internationella Handelshögskolan, Jönköping University, IHH, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-48753.
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Background: There has been a great effort in the venture capital research community in trying to identify what criteria are used by venture capital firms (VCFs) when evaluating new ventures as an investment opportunity. Efforts have also been put on trying to rank these criteria’s importance in relation to each other, with the main literature arguing that the new venture team (NVT) has the greatest influence over the VCF’s investment decision. Although there is scientific consensus regarding the superior importance of the NVT relative to other criteria, the practical methods used by VCFs to evaluate the NVT is highly underexplored. Purpose: The purpose of this study is to explore the decision process and evaluation of NVTs by VCFs in the Nordic venture capital industry. Method: A qualitative method with an inductive approach conducted through semi-structured interviews with seven relevant industry professionals within the Nordic venture capital space. Conclusion: The findings suggest that the evaluation of NVTs follows a linear process of five sequential phases. Ten practical evaluation methods are identified as being used in the five phases of the process. The evaluation of specific NVT sub-criteria is found to be influenced by the availability of methods of evaluation in a respective phase of the process. Furthermore, it is found that the first phase of the process can only evaluate hard NVT sub-criteria, and that to evaluate soft sub-criteria, methods underlined by personal interaction between the two involved parties are necessary. The findings are synchronized into a framework depicting the dynamics of the NVT evaluation process and temporality of the NVT sub-criteria.
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Törnquist, David, and Johan Lennefalk. "Tackling the innovation focus continuum; implications for change in venture capitalists' investment models." Thesis, KTH, Affärsutveckling och Entreprenörskap, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-98820.
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Innovation has been considered the critical driver behind economic growth and value creation for a long time. However, in order to achieve an innovative status, the commercializing of an invention is required by injecting capital and strategy. While capital comes in many forms, this thesis focuses on the field of venture capital and how this type of financial backing can be analyzed and managed. Herein, the company characteristics continuum is presented, where business model innovation and technological innovation represent the two extremities. The purpose was then to investigate if there are significant differences in the venture capitalists' investment models as one moves along the aforementioned continuum. Semi-structured interviews were used and interpreted independently by the authors, with respect to coding units, in order to enhance objectivity. The thesis mainly targeted the information technology industry, where analysis was conducted on four of the largest actors on the Nordic venture capital market. The Nordic focus, combined with the rapidly moving industry, resulted in that significant differences, in the venture capitalists' investment models, were identified; giving implications both for theory and practice. These differences were identified as stemming from the initially adopted risk profiles, which then affected all other areas of the investment models.<br>Innovation har länge ansetts vara den kritiska drivkraften bakom ekonomisk tillväxt och värdeskapande. Emellertid, för att uppnå en innovativ status, krävs kommersialisering av en uppfinning genom att tillföra kapital och strategi. Kapital existerar i flera olika former, dock fokuserar denna uppsats på området riskkapital, och hur denna typ av finansiell backning kan analyseras och hanteras. Häri presenteras kontinuumet för företagskaraktäristik, där innovation inom affärsmodeller och teknik representerar de två ändpunkterna. Syftet var att undersöka om det fanns signifikanta skillnader mellan riskkapitalisters investeringsmodeller, när ett företag rör sig längs det ovan nämnda kontinuumet. Semi-strukturerade intervjuer användes och tolkades oberoende av författarna, genom att använda kodord, för att förbättra objektiviteten. Uppsatsen berör främst företag inom industrin för informationsteknologi, där analys har gjorts på fyra av de största aktörerna inom marknaden för riskkapital i Norden. Ett Nordiskt fokus, kombinerat med en hastigt utvecklande industri, resulterade i att signifikanta skillnader, i riskkapitalisters investeringsmodeller, identifierades; vilket gav implikationer för både teori och praktik. Dessa skillnader identifierades att härstamma från de initialt anammade riskprofilerna, som sedan påverkade alla andra områden inom investeringsmodellen.
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Wang, Fan. "FDI and technological upgrading in Chinese cities : externalities of foreign expansion process and industrial structures." Thesis, Queen Mary, University of London, 2017. http://qmro.qmul.ac.uk/xmlui/handle/123456789/30952.
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Technological upgrading, as the key engine of Chinese economic development, does not take place in isolation, but is largely dependent on access to external knowledge sources. FDI has long been regarded as an external knowledge source because of its intra- and intercity technological spillovers. Meanwhile, both foreign expansion time-based characteristics and industrial structures could affect technological upgrading, but there is a heated debate about whether they enhance FDI spillovers in host cities. In this PhD thesis, I integrate these two streams of literature into a theoretical framework, and hope to investigate how foreign expansion time-based characteristics and industrial structures moderate both intra- and intercity relationships between inward FDI and technological upgrading in Chinese cities. Moreover, I link cluster theory to FDI spillovers, and establish a theoretical model in which government and market orientations can affect knowledge transfers and disseminations between domestic and foreign firms. Overall, this research aims to extend the existing literature by bridging literature of FDI spillovers, foreign expansion process, and industrial structures from a contingency perspective. It deepens our understandings about both intra- and intercity dimensions of FDI technological spillovers in explaining host city technological upgrading. Based on specific panel datasets from the Chinese Urban Statistical Yearbooks and the Annual Industrial Survey Database, I adopt Pooled OLS and Spatial Durbin Model to explore intra- and intercity externalities of foreign expansion process and industrial structures in FDI spillovers. My results indicate that FDI spillovers contribute to both intra- and inter-city technological upgrading in China. Irregular foreign expansion process diminishes FDI spillovers within a given city, but facilitates intercity knowledge dissemination. Cities with a high degree of related variety can reap benefits from FDI technological spillovers. However, such empirical results may change between different urban groups, Beijing-Tianjin-Hebei and Shanghai-Yangtze River Delta respectively. Therefore, the findings of this PhD thesis not only provide convincing evidence for the debate regarding the relationship between FDI and host city technological upgrading, but also highlight government and market orientations to assist with policy making in the future.
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Mason, Andrew. "Equity Investment Philosophies, Investment Styles & Investment Processes." Thesis, University of Southampton, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.518496.
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Chowdhury, Rubab, and Louise Holming. "The art of making a sustainable decision : Svenska Venture Capitals ESG strategier vid investering i tech." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-445979.
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Venture Capitals and early stage companies are of fundamental importance for how the market operates and develops. In the last decade more focus has been put on the ESG strategies and governance of organizations. However, ESG is a relatively new and complex research area in which ignorance and measurement problems have led to inconsistency in applications of ESG concepts and strategies. Based on empirical data consisting of qualitative document analysis and interviews with Swedish Venture Capitals this thesis aims, from theoretical perspectives within decision-making and ESG strategies, to investigate which ESG strategies are used among Swedish Venture Capitals investing in tech, and how these are applied in, are weighted and impact the decision-making process. The result shows that the decision making process can be assumed to be based on bounded rationality tinged by fragmented application of ESG concepts and strategies in which diversity and CO2 impact are prioritized focus areas. The common perception was also that investing in tech created a natural aligning to ESG. Active Ownership, Positive- and Negative screening are the central strategies that were applied with the aim to develop and manage the lack of information and the risks that follows with early stage investing.<br>Venture Capitals och early stage bolag är av fundamental betydelse för hur marknaden fungerar och utvecklas och under det senaste årtiondet har större fokus riktats mot organisationers ESG strategier och styrning. ESG är dock ett relativt nytt och komplext forskningsområde där okunskap och mätningsproblematik har lett till att begrepp och strategier tillämpas inkonsekvent. Utifrån empiri baserad på kvalitativ dokumentanalys och intervjuer från svenska Venture Capitals avser denna studie, utifrån teoretiska perspektiv inom beslutsfattande och ESG strategi, att undersöka vilka ESG strategier som används bland svenska Venture Capitals och hur de tillämpas, viktas och påverkar beslutsfattandet vid investeringar i tech. Resultatet visade att beslutsprocessen kan antas baseras på begränsad rationalitet präglad av fragmenterad tillämpning av ESG begrepp och strategier där jämställdhet och CO2 påverkan var prioriterade fokusområden. Den gemensamma bilden var även att investering i tech skapade en naturlig förankring till ESG. Active ownership, Positive- och Negative screening var de centrala strategierna som tillämpades i syfte att utveckla och hantera den informationsbrist och de risker som medföljde early stage investering.
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Silva, Molina Enrique. "Evaluationg IT investments : a business process simulation approach." Licentiate thesis, KTH, Electrical Systems, 2003. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-1579.
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<p>Information technology (IT) is becoming the primary factordetermining the survival of most organizations. The differenttypes of systems and the wide range of objectives suggest thatdiverse evaluation methods are needed. There is a critical needfor a new approach to managing IT investments, and solving theinformation paradox should be a business imperative for allmanagers today.</p><p>Evaluating IT investments introduces different types ofproblems that investment in traditional assets does notconsider. The focal point shifts from measuring hard andquantifiable benefits that appear on a firms incomestatement to measuring soft, diffuse, and qualitativeimpact.</p><p>The decision to acquire new information technology poses anumber of serious evaluation problems for managers because theavailable methods for IT investment evaluation are mostlystatic and they do not consider dynamism in decision-makingprocesses.</p><p>Common problems with the methods for evaluating ITinvestments are related to their inability to take account ofthe full range of potential benefits. There is a gap betweentheory and practice in relation to the use of any method formaking decisions and for continuous evaluation of ITinvestments.</p><p>This thesis presents a new approach to evaluating benefitsof IT investments in a dynamic way, an approach consisting of acombination of dynamic information workflow models and businessprocess simulation techniques. The proposed approach givesmanagers and organizations the possibility of implementingother models for measuring different metrics and aspects of ITinvestments.</p><p>A dynamic information workflow model of an electric utilityandsimulation essays are presented in order to show how theproposed approach is applied. The performance measure selectedfor running experiments was efficiency, which was characterizedby the following selected performance indicators: cycle time,resource utilization, and activity costs. Empirical data wascollected from case studies of different utilities in CentralAmerican countries.</p><p><b>Key words:</b>Business Process Modeling and Simulation,Evaluating IT Investments, Dynamic Information Workflow Model,Electric Utilities.</p>
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Larosei, Nora. "Integrating Organizational Culture in the VC Evaluation Process." Thesis, KTH, Industriell ekonomi och organisation (Inst.), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-246046.
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Assessing the team is an essential part of the evaluation process conducted by venture capitalists before an investment opportunity. In turn, the team is completely influenced by its organizational culture. Therefore in this study, I investigate how organizational culture can become an integral part of the VC evaluation process to improve this pro-cedure. This is done by exploring how the culture assessment is performed and what culture factors that are considered important. For this purpose, semi-structured in-terviews have been conducted with seven investment managers from five different VC firms. My findings indicate that the investors lack a structured methodology to assess culture. The assessment is mainly focused on the founders and management team, and performed through interactions with their network, personality tests and discussions. Except from the founders and management team, the investors also highlights the im-portance of assessing the degree of teamwork and consensus, diversity and inclusion, receptivity and adaptability, talent attraction ability, employee turnover, defined and shared responsibility and focus within the venture. Ultimately, this thesis suggests an assessment framework regarding organizational culture for venture capitalists.<br>Att utvärdera teamet är en väsentlig del inom utvärderingsprocessen, som utförs av riskkapitalister, inför en investeringsmöjlighet. Vidare är teamet fullständigt influerat av dess organisationskultur. Av den anledningen undersöker jag, i denna studie, hur organisationskultur kan bli en integrerad del av riskkapitalisternas utvärderingsprocess, för att förbättra denna procedur. Detta görs genom att undersöka hur utvärderingen av kultur utförs, och vilka kulturella faktorer som anses väsentliga. För detta ändamål, har semi-strukturerade intervjuer utförts med sju investerare från fem olika riskkapitalbolag. Mina resultat visar att investerarna saknar en strukturerad metod för att utvärdera kultur. Utvärderingen fokuserar främst på grundarna och management teamet, och utförs genom interaktioner med deras nätverk, personlighetstester och diskussioner. Förutom grundarna och management teamet, sätter investerarna stort värde på att utvärdera nivån av teamwork och konsensus, diversitet och inklusion, lyhördhet och anpassningsförmåga, förmåga att attrahera talanger, personalomsättning, definierat och delat ansvar samt fokus inom startup bolaget. Slutligen, erbjuder uppsatsen ett förslag på ett analysramverk som gör det möjligt för riskkapitalister att identifiera viktiga kulturella faktorer.
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Andersson, Susanne, and Jenny Svensson. "Avsaknaden av relevanta motiv : en studie av fastighetsförvärv gjorda av privata fastighetsägare från kommunala bostadsföretag." Thesis, University of Gävle, Department of Business Administration and Economics, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-671.
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<p>Syfte: Gällande förvärv av kommunala hyresrätter har de flesta diskussioner som uppmärksammats, enligt vår uppfattning, rört ombild¬ningen från hyresrätt till bostadsrätt. Det är även det som teoretiskt finns beskrivet. Därför anser vi att vår studie kan bidra till att belysa fenomenet och öka vetskapen, om att hyres¬rätterna kan byta ägare och de facto byter ägare utan att upplåtelseformen ändras. Vårt syfte är därför att studera hur fastighetsköp gjorda av privata fastighets¬ägare från kommunala fastighetsföretag går till.</p><p>Metod: Vi har i vår uppsats delat hermeneutikernas synsätt då vi är medvetna om att vår inställning och tolkning av studien kommer att påverka vårt resultat. Vidare har vi tillämpat ett kvalitativt tillvägagångssätt där vår studie grundar sig på intervjuer. Intervjupersonerna är verksamma inom olika privata fastighetsföretag på olika orter utsprida över landet.</p><p>Resultat & slutsats: Vi har genom vår studie kommit fram till att de privata fastighetsägarnas motiv vid investering i kommunalt fastighetsbestånd är varierande, dessutom har även kommunernas avsikter till försäljningen varit olika. Studien visar att de privata fastighets¬ägarna i de övervägande delarna av fallen ej använt sig av några ekonomiska modeller vid beräkning av fastighetsbeståndets lönsamhet. Vidare visar studien att det i samtliga fall inte finns någon uttalad avsikt att i framtiden ombilda det förärvda fastighetsbeståndet till bostadsrätter.</p><br><p>Aim: Refer to acquisitions of municipal housing estate we are of the opinion that most discussions brought to attention are those that concern conversion from tenancy right to co-operative. That is also the case when it comes to theoretical descriptions. Therefore we believe that our research can contribute to illuminating the phenomenon and increase the knowledge about how tenancy rights can trade owner without changing the right of disposition and that this actually occurs. The aim of this essay is therefore to study how a purchase made by private landlords to municipal housing estate is arranged.</p><p>Method: In this essay we have used the approach of the hermeneutists since we are aware of the fact that our attitude and interpretations of the study will affect our result. However we believe that we can help each other to be critical towards the sources. Further on we have applied a qualitative course of action by basing our research on interviews. The interviewees are active within different private real estates at various locations dispersed all over the country.</p><p>Result & conclusions: Through our research we have come to the conclusion that the private landlords’ motive when investing in municipal housing estate is varying. In addition the municipalities’ sales argument has varied. Our research shows that the private landlords in most cases have not used any economic models to calculate the profitability of real estate. Furthermore our research shows that in all cases there are no intentions to reconstruct this real estate into co-operative in the future.</p>
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Taylor, Paul. "Autonomic business processes." Thesis, University of York, 2015. http://etheses.whiterose.ac.uk/11712/.
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Business processes in large organisations are typically poorly understood and complex in structure. Adapting such a business process to changing internal and external conditions requires costly and time consuming investigative work and change management. In contrast autonomic systems are able to adapt to changing environments and continue to function without external intervention. Enabling business processes to adapt to changing conditions in the same way would be extremely valuable. This work investigates the potential to self-heal individual business process executions in generic business processes. Classical and Immune-inspired classification algorithms are tested for their predictive utility with Decision Trees augmented with MetaCost and Immunos 99 exhibiting the best performance respectively. An approach to deriving recovery strategies from historical process data in the absence of a process model is presented and tested for suitability. Also presented is an approach to selecting the best of the determined recovery strategies for application to a business process execution, which is then tested to determine the impact of its parameters on the quality of selected recoveries.
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Kumar, Naresh. "The modelling of precision investment casting processes." Thesis, Imperial College London, 1989. http://hdl.handle.net/10044/1/47521.
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Bergman, Elias, and Johan Nyemad. "Hållbar stiftelseförvaltning : Jakten efter en lösning på målkonflikten mellan avkastning, risk och hållbara investeringar." Thesis, Linköpings universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-138794.
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Bakgrund: Hållbara och ansvarsfulla investeringar har blivit allt viktigare för investerare, utöver avkastning och risk. Universiteten har som fanbärare av god moral ett stort ansvar i att leva upp till en hög nivå av hållbarhet. Donatorer, förmånstagare, studenter, intresseorganisationer och opinionsbildare har alla olika mål och krav på kapitalförvaltningen i universitetsstiftelser. Detta driver en målkonflikt som inte har en uppenbar lösning. Syfte: Huvudsyftet med studien är att ur ett investeringsperspektiv kartlägga och analysera svenska universitetsstiftelsers syn på och hantering av målkonflikter mellan avkastning, riskhantering och interna samt externa krav om hållbara och ansvarsfulla investeringar. Ett delsyfte med studien är att ge perspektiv och förslag till riktlinjer för hur en hållbar stiftelseförvaltning kan utformas i relation till mål om avkastning och risk givet restriktioner kring vad som ur ett hållbarhetsperspektiv är tillåtna investeringar. Genomförande: Vi har genomfört tio kvalitativa intervjuer med stiftelseförvaltare och kapitalförvaltare. Som ramverk för analysen har referensramen byggts upp utifrån evidensbaserad kapitalförvaltning sammanfattad av William F. Sharpe. Det har kompletterats med beprövad erfarenhet och stiftelselagstiftning. Slutsats: Stiftelseförvaltarna uppfattar inte målkonflikten som ett stort problem och anser sig ha löst den. Samtliga tycker att hållbarhet går att förena med god avkastning. Vi har dock upptäckt brister, framförallt i synen på risk. Genom att ha ett mer kontinuerligt angreppssätt och tydligare prioritera målen samt definiera hållbarhet anser vi att en bättre lösning uppnås.<br>Background: SRI has grown in importance for investors, apart from risk and return. Universities do as moral leaders of society have a responsibility to reach an elevated level of sustainability. Donors, beneficiaries, students, organizations of interest and opinion formers differ in their demands and objectives for asset management in university foundations. This fuel a conflict of objectives that has no immediate solution. Purpose: The purpose of this thesis is to, from an investing perspective, map and analyse Swedish university foundations’ view upon and management of conflicts of objectives between return, risk management and internal as well as external demands for sustainable and responsible investments. A partial purpose is to give perspective and develop suggestions for guidelines for how a sustainable foundation management can be accomplished in relation to objectives for risk and return given restrictions for what is allowed investments from a sustainable perspective. Completion: We have conducted ten qualitative interviews with foundationand asset managers. The framework used to analyse our data have been built up from evidence based asset management summarized by William F. Sharpe. This has been extended with proven knowledge and legislation. Conclusion: The foundation managers do not fully interpret the conflict of objectives as a large problem and claim they have solved it. They believe sustainability and satisfying returns can be combined. We have although found a lack of risk awareness. We conclude that by having a continuous approach, prioritize the objectives and define sustainability a better solution can be reached.
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Arifi, Norë, and Lukas Richter. "Impact Investment: The Midway between Investment and Philanthropy." Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-160860.
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Impact investment is an innovation in the finance field, thus contributing to further development of social finance. This kind of investment is essential due to its ability to help reach the SDGs. The biggest challenges our generation has to address are represented through the SDGs. Impact investing offers a viable potential to tackle these goals. Through this type of investment, the investor aims to generate positive environmental and societal change, alongside financial returns. Research about the role of impact investors is rather scarce. The definitionof the field, its market players, and the investment process are unclear. Therefore, we have derived a question that aims to explore the field of impact investment by grouping the main players in two categories. Further, the research question seeks to explore the impact investment process by these two groups of investors and identify the difference. Thus, this purpose resulted in the research question as below:What are the differences between the approaches used by VPOs and SIIs in the investment processstages, in the DACH region?The field of impact investment is in its infancy. Therefore, there is no fully developed theoretical research performed. Thus, initially, an overview of entrepreneurial finance is provided. Further, we identified two main players, VPOs and SIIs, and their main characteristics as impact investors. In order to set the theoretical foundation of our research, we identified stages of the investment performed by two groups of investors which are: deal sourcing, deal screening, due diligence, investment decision, post-investment, and exit. Further, we compared the approaches used between two groups of investors. This comparison led to the preliminary framework, which is used as a guide for the exploratory study.When conducting the impact investment market research, we identified that DACH region as a hub of many types of impact investors: impact investing funds, microfinance funds, investment advisors, wealth managers, foundations, charities, and social investors —using an inductive approach, for the selected comparative exploratory study we conducted semi-structured interviews. A general question about the investment process was initially asked, followed by additional questions for better clarity and understanding of the process.The study arises with two groups of investors who, even though performing similar investment process, use different approaches in the investment process stages. Results from the study show that there are differences in each stage of the investment, where the deal screening and due diligence are the stages with the majority of the differences. The analysis has shown that the reason behind these differences is due to the type of the investors, targeted themes, targeted markets, targeted financial return, targeted impact return, and targeted stage of development of the companies. We believe that we additionally provided a better understanding of the two types of investors.
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Stockhammer, Engelbert, and Lucas Grafl. "Financial uncertainty and business investment." Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business, 2008. http://epub.wu.ac.at/564/1/document.pdf.
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The paper seeks to contribute to the empirical analysis of financial uncertainty and investment from a Post Keynesian perspective. The paper uses the volatility of the exchange rate, the volatility of the stock market index, and the real gold price as indicators for financial uncertainty. An increase in the volatility of a variable is a sufficient, but not a necessary condition for an increase in uncertainty (regarding this variable). The effects of changes in uncertainty on investment are investigated econometrically for the USA, the UK, the Netherlands, Germany, and France. Financial uncertainty has significant negative effects in the USA and the Netherlands. (author´s abstract)<br>Series: Department of Economics Working Paper Series
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Meyer, Andreas, Sergey Smirnov, and Mathias Weske. "Data in business processes." Universität Potsdam, 2011. http://opus.kobv.de/ubp/volltexte/2011/5304/.
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Process and data are equally important for business process management. Process data is especially relevant in the context of automated business processes, process controlling, and representation of organizations' core assets. One can discover many process modeling languages, each having a specific set of data modeling capabilities and the level of data awareness. The level of data awareness and data modeling capabilities vary significantly from one language to another.
This paper evaluates several process modeling languages with respect to the role of data. To find a common ground for comparison, we develop a framework, which systematically organizes process- and data-related aspects of the modeling languages elaborating on the data aspects. Once the framework is in place, we compare twelve process modeling languages against it. We generalize the results of the comparison and identify clusters of similar languages with respect to data awareness.<br>Prozesse und Daten sind gleichermaßen wichtig für das Geschäftsprozessmanagement. Prozessdaten sind dabei insbesondere im Kontext der Automatisierung von Geschäftsprozessen, dem Prozesscontrolling und der Repräsentation der Vermögensgegenstände von Organisationen relevant. Es existieren viele Prozessmodellierungssprachen, von denen jede die Darstellung von Daten durch eine fest spezifizierte Menge an Modellierungskonstrukten ermöglicht. Allerdings unterscheiden sich diese Darstellungenund damit der Grad der Datenmodellierung stark untereinander.
Dieser Report evaluiert verschiedene Prozessmodellierungssprachen bezüglich der Unterstützung von Datenmodellierung. Als einheitliche Grundlage entwickeln wir ein Framework, welches prozess- und datenrelevante Aspekte systematisch organisiert. Die Kriterien legen dabei das Hauptaugenmerk auf die datenrelevanten Aspekte. Nach Einführung des Frameworks vergleichen wir zwölf Prozessmodellierungssprachen gegen dieses. Wir generalisieren die Erkenntnisse aus den Vergleichen und identifizieren Cluster bezüglich des Grades der Datenmodellierung, in welche die einzelnen Sprachen eingeordnet werden.
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ROSSETTI, ANDREA. "Model checking business processes." Doctoral thesis, Università Politecnica delle Marche, 2011. http://hdl.handle.net/11566/241895.
Full textAbstract:
I sistemi di Business Process Management sono spesso utilizzati per migliorare ed aumentare la produttività di organizzazioni ed aziende. Per tali sistemi è importante controllare tutte le variabili (compreso il tempo) e lo stato di tutti gli stakeholders che entrano in gioco nei processi. Questi task consentono di aumentare la soddisfazione degli operatori, consentono di migliorare le stime in termini di tempistiche, di controllare le criticità ed in genere consentono di tenere sotto controllo tutti i processi aziendali di un’organizzazione. Nonostante questo molte aziende basano le loro analisi su modelli di processi molto semplici. Questo lavoro presenta un algoritmo denominato “Semantic Timed Model Checking“ applicato ai processi aziendali. Questo algoritmo è stato impiegato in scenari differenti come la selezione, la validazione ed il monitoring dei processi. L’approccio è basato sui seguenti step:
1) rappresentazione dei processi aziendali sotto forma di “semantically annotated timed transition systems” (ATTS), 2) rappresentazione delle specifiche basate su di una rappresentazione annotata semanticamente della logica “timed computation tree logic” (AnTCTL), e 3) un efficiente algoritmo di model checking. Gli ATTS permettono di tenere in considerazione le evoluzioni nel tempo dei processi di business, con i loro vincoli temporali. Questa logica è basata sui sistemi TTS.
L’importanza della semantica è notoriamente riconosciuta, ci consente infatti di fornire significati non ambigui ai processi e alle variabili che in essi entrano in gioco. A tal fine vengono utilizzati formalismi propri della logica descrittiva.
Questo lavoro presenta un’integrazione dei sistemi TTS e della rappresentazione semantica in un modo molto efficiente. La AnTCTL premette infatti di rappresentare i tradizionali indicatori di performance con una semantica propria e ben definita. Inoltre è possibile introdurre una serie di nuovi indicatori che non sarebbero invece definibili con i modelli di processi aziendali tradizionali.
L’algoritmo di model checking è un integrzione dell’algoritmo “timed model checking” con aggiunta di notazioni semantiche.
Questo lavoro può essere considerato il primo passo verso l’utlizzo del semantic timed model checking nei problemi di analisi delle performance dei processi aziendali. Il metodo proposto è stato applicato ad un in caso di studio basato su processi aziendali reali.<br>Business Process Management systems are often used to improve the productivity of organizations and companies. For such systems, it is important to control all the variables (among them the time) and the status of all the stakeholders that are involved into the processes. This task aims at improving the employee satisfaction, the estimation of time and criticalities, and the control of business processes of an organization. In spite of this important task, most of the companies base their analysis on very simple process models.
This work presents a Semantic Timed Model Checking algorithm for Business Processes. It has been used as a basic tool in several scenarios such as process selection, process validation, and process monitoring. The approach relies on:
1) a representation of business processes based on semantically annotated timed transition systems (ATTS), 2) a representation of specifications based on a semantically annotated version of timed computation tree logic (AnTCTL), and 3) an efficient model checking algorithm. The ATTS allows us to take into account the temporal evolution of a business process, with its temporal constraints. This is based on Timed Transition Systems. The importance of semantics is also widely recognized. Indeed, semantics allows us to provide a non-ambiguous meaning to process activities and variables. According to the mainstream, the semantics relies on Description Logic. As a consequence, this work presents an integration of timed transition systems and semantic representation technologies in an efficient way. The AnTCTL allows us to represent the traditional performance indicators with a well-founded semantics. Furthermore, it is possible to define a new set of indicators that it is not possible to define with the traditional business process models. The model checking algorithm is an integration of traditional timed model checking techniques with semantic reasoning. This algorithm has been proved to be sound and complete and PSPACE-Complete.
This work can be considered the first step towards the use of semantic timed model checking in problems of performance analysis for Business Processes. The proposed approach has been applied to real world case studies.
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MONTI, MARCO. "Heuristics and biases in investment decision making processes." Doctoral thesis, Università Bocconi, 2006. http://hdl.handle.net/11565/4050234.
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Schuster, Joel D. "Business aircraft investment and financial performance." Thesis, Capella University, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=3714060.
Full textAbstract:
<p> This research was an attempt to replicate, yet expand previous empirically supported, qualitative gray literature research conducted by NEXA (2010). The primary difference between this study and the NEXA study is adding significance testing in a quantitative study, to substantiate previously reported positive organizational financial performance associated with business aircraft investment. The outcome contradicted the previous study by providing evidence there were no significant differences in financial performance between those companies that own business aircraft and those companies that do not. The sampling populations were collected from publicly available data through a Federal Aviation Administration (FAA) aircraft registry and Securities and Exchange Commission (SEC) / Edgar database for the Standard and Poor’s (S&P) 600 Small Capitalization (SmallCap) Index funds. </p><p> The research utilized the Andersen (2001) Utilization strategies, Benefits, and shareholder Value (UBV) conceptual framework. The dependent variables of Earnings Before Income Tax, Depreciation and Ammoritization (EBITDA), Revenue Growth, Return on Equity (ROE), and Return on Assets (ROA) financial indicators and ratios were applied to test the significant differences between the independent variables of companies that own business aircraft versus companies that do not own business aircraft. The breadth of associated costs when contemplating investment in business aircraft goes well beynd the initial cost of the aircraft itself and was not covered in this study. Depending on the strategic objective and intended use of a business aircraft, ownership involves an additional and significant investment in infrastructure and back office support, segregated by direct and indirect costs. </p><p> In order to help define the future roles of business aircraft, the industry as a whole must create a synchronous and performance based public face that emphasizes the broad collection of the multi-dimensional and positive, technological, economic, and regulatory, political, and social dynamic contributions. Moreover, with financial indicators demonstrating positive value, productivity, and performance separation between business aircraft ownership from non-ownership, coupled with the internal as well as external drivers influencing financial results, the public face of business aviation and its aircraft should be one of the top investment decisions for future sustainability and competitive advantage.</p>
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Frauendorf, Janine. "Customer processes in business to business service transactions /." Wiesbaden : Dt. Univ.-Verl, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2870462&prov=M&dok_var=1&dok_ext=htm.
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Frauendorf, Janine Kleinaltenkamp Michael. "Customer Processes in Business-to-Business Service Transactions /." Wiesbaden : Deutscher Universitäts-Verlag, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2870462&prov=M&dok_var=1&dok_ext=htm.
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Bala, Saimir, Macias Cristina Cabanillas, Andreas Solti, Jan Mendling, and Axel Polleres. "Mining Project- Oriented Business Processes." Springer, Cham, 2015. http://dx.doi.org/10.1007/978-3-319-23063-4_28.
Full textAbstract:
Large engineering processes need to be monitored in detail
regarding when what was done in order to prove compliance with rules
and regulations. A typical problem of these processes is the lack of con-
trol that a central process engine provides, such that it is difficult to
track the actual course of work even if data is stored in version control
systems (VCS). In this paper, we address this problem by defining a
mining technique that helps to generate models that visualize the work
history as GANTT charts. To this end, we formally define the notion of a
project-oriented business process and a corresponding mining algorithm.
Our evaluation based on a prototypical implementation demonstrates
the benefits in comparison to existing process mining approaches for this
specific class of processes.
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Kim, Ick Soo. "Over-investment in China : sources and processes, 1979-1988." Thesis, University of Oxford, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.317730.
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Vega, Paul. "Venture capital in China : investment processes and decision-making /." [S.l. : s.n.], 2004. http://swbplus.bsz-bw.de/bsz114353042inh.htm.
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De, Witt Sarel Jacobus. "Selecting common stocks for investment by utilising the Graham-Buffett contrarian focus value investment approach." Thesis, Stellenbosch : Stellenbosch University, 2007. http://hdl.handle.net/10019.1/85262.
Full textAbstract:
Theses (MBA)--Stellenbosch University, 2007.<br>ENGLISH ABSTRACT: This study project concentrated on the investment approach of one individual
that consistently achieved above average investment returns over a period
of fifty years and became the second richest person in America primarily
through the use of his unique investment skill and philosophy. He managed
to increase a $100 personal investment in 1956 into a personal net worth of
$46 billion in 2006. This person is Warren Buffett, and the primary goal of
the study project was to integrate and summarise the main features of his
investment approach and philosophy as described in the many books,
articles and essays written about him .
The study project further strove to use findings from contemporary scientific
works to support and validate the scientific soundness of his investment
approach and principles. Finally, the investment approach and techniques
described in the study project were used to systematically analyse and select
a common stock for future investment.
In the author's opinion, the study project was successful at identifying and
highlighting the essential principles of Warren Buffett's investment approach .
The investment framework presented in Chapter 3 could serve as a guideline
for an investor to apply Buffett's investment approach in a systematic
manner. The framework was successfully utilized by the author to analyse
and identify a so-called "Buffett company" that was trading at a significant
discount to its underlying value. A hypothetical purchase decision by an
investor in this company's common stock would have yielded a significant
return on investment over the long term. An investor that had knowledge of
this investment framework at the time could have "spotted" this opportunity
and capitalised on it. The above conclusion assumed that this hypothetical investor had been
operating within the same "circle of competence" as the author. What might
seem "simple" or "logical" to one investor, might seem completely complex
or irrational to another. In the author's opinion, Buffett's unique "circle of
competence" is the missing "ingredient" to his success formula.
A person's "circle of competence" evolves as a result of the unique blending
of that person's knowledge, experience, personality, attitude, intelligence
and external influences. It is thus unique to an individual and almost
impossible to duplicate by others. Buffett's "circle of competence" could be
viewed as his durable competitive advantage that gave him the insight to
invest successfully.
To lend credibility to the merits of Buffett's approach, the author presented
scientific literature that supported Buffett's investment principles. Many of
Buffett's principles were related to concepts that were named differently, but
essentially had the same meaning. It appeared that Buffett's investment
success stemmed from integrating and utilizing these concepts in an
effective and coherent way, consistent with his "circle of competence"
principle.<br>AFRIKAANSE OPSOMMING: Hierdie studieprojek fokus op die beleggingsbenadering van 'n individu wat
konstant oor 'n tydperk van vyftig jaar bogemiddelde beleggingsopbrengste
behaal het. Hy het deur sy unieke beleggingsvermoens en filosofie die
tweede rykste man in Amerika geword. Hy het dit reggekry om 'n $100
persoonlike belegging in 1956 te vermeerder na 'n persoonlike nettobatewaarde
van $46 biljoen in 2006. Sy naam is Warren Buffett en die
primere doel van hierdie studie is om die belangrikste kenmerke van sy
beleggingsbenadering en filosofie, soos beskryf in vele boeke, artikels en
verhandelings te integreer en op te som.
Hierdie studie streef ook om van kontemporere wetenskaplike bevindings
gebruik te maak om te bewys en te ondersteun dat sy beleggingsbenadering
wetenskaplik gegrond is. Daarna is hierdie beleggingsbenadering en
tegnieke prakties gebruik in die stelselmatige analise en seleksie van 'n
gewone aandeel vir 'n moontlike toekomstige belegging.
Volgens die skrywer se mening slaag hierdie studie daarin om die
belangrikste beginsels van Buffett se beleggingsbenadering te identifiseer en
uit te lig. Die beleggingsraamwerk in Hoofstuk 3 kan dien as 'n riglyn vir 'n
belegger om Buffett se beleggingsbeginsels stelselmatig toe te pas. Hierdie
beleggingsraamwerk is suksesvol deur die skrywer toegepas om 'n
sogenaamde "Buffett maatskappy", wat verhandel het teen 'n aansienlike
afslag tot sy onderliggende waarde, te analiseer en te identifiseer. 'n
Hipotetiese aankoopbesluit deur 'n belegger van hierdie maatskappy se
gewone aandele sou oor die lang termyn 'n beduidende opbrengs gelewer
het. 'n Belegger wat kennis gedra het van hierdie beleggingsraamwerk kon
die beleggingsmoontlikheid ge"identifiseer het en so daarop gekapitaliseer
het. Die bogenoemde gevolgtrekking veronderstel dat die hipotetiese belegger
binne dieselfde "kring van bevoegdheid" as die skrywer funksioneer. Wat
logies en eenvoudig vir een belegger voorkom, Iyk dalk totaal kompleks en
irrasioneel vir 'n ander. Na die skrywer se mening is Buffett se unieke
insigte en vermoens (kring van bevoegdheid) die ontbrekende bestanddeel
tot sy suksesformule.
'n Persoon se "kring van bevoegdheid" ontwikkel as gevolg van 'n unieke
vermenging van daardie persoon se kennis, ervarings, persoonlikheid/
houding, intelligensievlak en eksterne invloede. Dit is dus uniek tot elke
individu en bykans onmoontlik om deur 'n ander te dupliseer. Buffett se
"kring van bevoegdheid" kan dus gesien word as sy volhoubare
kompeterende voordeel wat aan hom die insig verskaf om suksesvol te belê.
Om geloofwaardigheid aan Buffett se benadering te verleen, het die skrywer
wetenskaplike literatuur verskaf wat sy beleggingsbeginsels ondersteun.
Baie van Buffett se beginsels stem ooreen met reeds bestaande konsepte,
slegs met ander benamings. Dit wil voorkom of Buffett se beleggingssukses
uitvloei vanaf sy integrasie en gebruik van hierdie konsepte in 'n doelmatige
en samehangende manier, wat verenigbaar met sy "kring van bevoegdheid"
beginsel is.
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Prokhorova, Natalia, and Наталія Прохорова. "Impact of investment impact on the business." Thesis, National Aviation University, 2021. https://er.nau.edu.ua/handle/NAU/51248.
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1. Bagg-Levin E. Social Transforming Investments. Like us changing the world and making money / E. Bagg-Levin, D. Emerson. - M.: ROSSPEN, 2017. - 272 p.
2. Salamon L. Financial Leverage of Good: New Horizons charity and social investment / L. Salamon. - M .: Intellectual literature, 2016. –174 p.
3. Baranova N. Types and examples of impact investing [Electronic resource] / N. Baranova // Greenhouse social technologies. - 09/14/2017. - Access mode: https://te-st.ru/2017/09/14/ impact-investment-types-and-examples.
4. Wendy Woods: the commercial benefit of good deeds [Electronic resource]. - Access mode: https://ideanomics.ru/ lectures / 13077.<br>The relevance of the study of impact investment is determined by the existing trend of deterioration and exacerbation of social and environmental problems in the field of environment and nature management, health, education, culture, social protection. Impact investment aims to create a measurable social and environmental effect along with financial returns<br>Актуальність дослідження впливу інвестицій визначається існуючою тенденцією погіршення та загострення соціальних та екологічних проблем у галузі екології та природокористування, охорони здоров'я, освіти, культури, соціального захисту. Вплив інвестицій має на меті створити помітний соціальний та екологічний ефект разом із фінансовою віддачею.
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Marquez, Dayhana, and Malin Larsson. "Investeringsprocessen i småföretag : En studie om investeringsbeslutfattande i restaurangbranschen." Thesis, Södertörns högskola, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-33085.
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Investeringar är grunden i ett företag och därmed är investeringsprocessen ett intressant fenomen att titta närmare på. Efter att ha studerat litteratur och tidigare forskning, som tar upp problematiken i investeringsprocessen, framkom att beslutsfattarens roll är en väsentlig del vid investeringsprocessen. Studien behandlar både beslutfattarens bakgrund och val som påverkar investeringsbeslutfattande i restaurangsbranschen, beslutfattarens bakgrund och val behandlas som påverkande respektive förklarande faktorer. Studien syftar på att ta reda på om och i vilken omfattning belutfattarens bakgrund påverkar sina val i investeringsprocessen. Genom att tillämpa en kvantitativ metod i form av en enkätundersökning lyftes beslutsfattarens bakgrund och investeringsprocess fram. Utifrån enkätundersökningen gjordes en statistisk analys för att hitta eventuella samband mellan de påverkande samt förklarande faktorerna. Resultatet av enkätundersökningen och statistiska analysen visade att det fanns starka samband mellan faktorer såsom kön, ålder, investeringsrutin, kalkylanvändning, utbildningstyp och utbildningsnivå. Detta bekräftar tidigare forskning och teorier om beteendeinriktad investeringsbeslutfattande.
48
Preece, Stephen Bruce. "Foreign direct minority investment in the United States." Connect to resource, 1993. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1262779584.
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V, Sakhno A. "Investment support of reproduction processes in Ukraine: problems and prospects." Master's thesis, Sumy State University, 2020. https://essuir.sumdu.edu.ua/handle/123456789/81812.
Full textAbstract:
У роботі проведені теоретичні дослідження функціонування суспільного відтворення та його місце у забезпеченні економічного зростання. Проведено аналіз впливу структури ВВП як основного показника економічного зростання на можливості фінансування відтворювальних процесів. Проаналізовано основні показники та пропорції інвестиційного процесу на макрорівні. Проведено структурний аналіз джерел фінансування відтворювальних процесів. Досліджено основні показники, що формують інвестиційний клімат держави та впливають на можливість залучення іноземного капіталу. Досліджено сучасний стан ринку банківського кредитування в контексті оцінки можливостей активізації інвестицій у відтворювальні процеси.<br>The relevance of the study is based on the awareness of the crucial importance of investment support for reproduction processes as a basis for economic growth The purpose of the master's work is on the basis of studying the theoretical foundations and issues of the current state of reproduction processes to find out the reserves and provide recommendations for improving their funding. The object of study - economic relations that arise in the process of continuous social reproduction in part of providing its investment support. The subject of research - reproductive processes in the national economy.
Research methods used in the preparation of the work: abstract-logical,
analysis, synthesis, comparative, generalization, classification, deduction, graphical visualization. The structure of the work. Master's thesis consists of an introduction, three chapters, conclusions, list of references. The introduction proves the relevance of the research topic, defines the object, subject and purpose and objectives of the study. The first section provides theoretical research and generalization of the functioning of social reproduction and its place in ensuring economic growth. The analysis of the influence of the structure of GDP, as the main indicator of economic
growth, on the possibilities of financing the reproduction processes is carried out. The second section is devoted to the practical aspects of the investment process at the macro level, analyzes its main indicators and proportions. The structural analysis of sources of financing of reproduction processes is carried out. The third section examines the main indicators that shape the investment climate of the state and affect the possibility of attracting foreign capital. The current state of the bank lending market in the context of assessing the possibilities of intensifying investment in reproduction processes has been studied.
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Smirnov, Sergey, Farahani Armin Zamani, and Mathias Weske. "State propagation in abstracted business processes." Universität Potsdam, 2011. http://opus.kobv.de/ubp/volltexte/2011/5148/.
Full textAbstract:
Business process models are abstractions of concrete operational procedures that occur in the daily business of organizations. To cope with the complexity of these models, business process model abstraction has been introduced recently. Its goal is to derive from a detailed process model several abstract models that provide a high-level understanding of the process. While techniques for constructing abstract models are reported in the literature, little is known about the relationships between process instances and abstract models.
In this paper we show how the state of an abstract activity can be calculated from the states of related, detailed process activities as they happen. The approach uses activity state propagation. With state uniqueness and state transition correctness we introduce formal properties that improve the understanding of state propagation. Algorithms to check these properties are devised. Finally, we use behavioral profiles to identify and classify behavioral inconsistencies in abstract process models that might occur, once activity state propagation is used.<br>Geschäftsprozessmodelle sind Abstraktionen konkreter operationaler Vorgänge, die im täglichen Geschäftsablauf von Organisationen auftreten. Um die Komplexität solcher Modelle zu bewältigen, wurde die Geschäftsprozessmodelabstraktion eingeführt. Ziel ist dabei, von einem detaillierten Prozessmodel mehrere abstrakte Modelle abzuleiten, um so auf einer höheren Abstraktionsstufe ein Verständnis für den Prozess zu bekommen. Während viel in der Literatur über Techniken zur Konstruktion abstrakter Modelle berichtet wurde, ist wenig über die Beziehungen zwischen Prozessinstanzen und abstrakten Modellen bekannt.
In dieser Arbeit zeigen wir, wie der Zustand einer abstrakten Aktivität aus den Zuständen ihrer entsprechenden detaillierten Prozessaktivitäten zur Laufzeit berechnet werden kann. Der Ansatz basiert dabei auf der Übertragung des Aktivitätszustands. Mit der Zustandseindeutigkeit und der Korrektheit der Zustandstransitionen führen wir formale Kriterien ein, die das Verständnis der Zustandsübertragung erleichtern. Zudem sind Algorithmen entwickelt worden, um diese Kriterien zu überprüfen. Außerdem nutzen wir Verhaltensprofile um Inkonsistenzen im Verhalten abstrakter Prozessmodelle zu identifizieren und zu klassifizieren, die auftreten können, wenn die Aktivitätszustände gemäß den Regeln abgebildet werden.