Dissertations / Theses on the topic 'Insidia'

Financial speculation has increased dramatically over the last 30 years. This means that a practice that used to be viewed as immoral gambling has become legitimate financial trade. This book explores the genealogy of the coexisting insider trading laws. The insider regulation prohibits trade based on privileged information in order to create equal trading conditions, and in this way uphold confidence in the financial markets among the general public. However, this study shows that the existing view of the insider regulation is misleading and that the regulation is best understood as a game rule aiming to stimulate financial speculation. The protection interest is therefore not primarily the general public, but the financial system as such: the professional market actors sustaining the speculative activities and a growing financial sector.

The consequence of stimulating financial speculation is that today’s authorities are attempting to make the financial markets into a lotto-like game, rather than a market for long-term investment. To make the financial markets into liquid and volatile public “games” means that the risks involved in the financial speculation are created by the human hand and the economic system itself rather than being naturally given. This places desire rather than rational needs as the fundamental ground of the economy. The concluding question is; why are we making our economy into a game?

A window is typically a two dimensional object that opens for light and air. Window is a dining room overlooking a garden or a large sill to sit on. Window is not only part of the façade but also breaks through it, bringing small private spaces beyond the building boundaries and defining the interior spaces of the home. Window is also a small skylight facing east, scooping in soft morning light to a bedroom. The materials of a building are what it is made of: its cladding, waterproofing, walls and floors. Material makes an emotive space through touch and reflection. Concrete is heavy, rough and protective, Concrete is boundary. Contrastingly, Wood is soft, flexible and changing, Wood is home.

An alley is a narrow walkway, an undesirable secondary access point. How can an alley become Path? Path is an invitation to walk and be, Path is not the same from beginning to end. Path belongs to the city, the restaurant, and the pedestrian.

Inside + Outside studies what makes these public and private places at the human scale, and how architecture appeals to intuition rather than definition.
Master of Architecture

Föreliggande uppsats undersöker om det har funnits någon indikation av insiderhandel för tio utvalda företag på Stockholmsbörsen under andra halvan av 2004 när dessa företag presenterar vinstvarningar. Uppsatsen beskriver huvuddragen av den Svenska insider-lagstiftning, och framlägger argument för en effektiv lagstiftning både från ett ekonomiskt och också från ett juridiskt perspektiv.

De tio företagen har analyserats under en trettio dagars period. Slutsatsen är att det har förekommit indikationer på insiderhandel i två företag under perioden fram till vinstvarningen.

Denna uppsats presenterades och försvarades våren 2005 vid Internationella Handelshögskolan i Jönköping.

This thesis analyzes if there has been any indication of insider trading for ten selected-companies on the Stockholm Stock Exchange during the second half of 2004 when these companies have reported loss announcements. It outlines the Swedish insider leg-islation, and put forward arguments for an effective insider legislation from an eco-nomic and legal perspective.

The ten companies have been analyzed during a thirty days period. The conclusion is that there is signs of insider trading in two companies during the period prior to the loss announcement date.

This thesis was presented and defended in the spring of 2005 at Jönköping International Business School.

Although there are as many trading strategies as there are people in this world, the traditional opinion is that investments should be based on sound fundamental analysis which in turn is partly based on information that by law should be given to the financial market without delay. The Efficient Market Hypothesis (EMH) states that prices quickly adjust to new information and that current prices are accurately reflected by all the information about the asset in question (Fama, 1970). Thus, no investor should have an advantage in forecasting future stock prices since no one is supposed to have access to information that has not already been made public. But what if the markets do not apprehend important information immediately? What if there are asymmetries that are being taken advantage of? The aim of our Master thesis was to study the phenomena of Insider trading and the potential abnormal returns these may cause. In other words, the question we asked was whether replicating Insiders is a good trading strategy? The findings from our comprehensive study and its results speak of a considerable high abnormal return. The following computations of the statistical significance of our results further reinforce the credibility in them. This implies, in contrast to other similar studies made in Sweden, that it in fact is possible to gain on Insider trading.

Abstract

Aim: The purpose of this thesis is to research how women think about fashion in relation to their self and to others. Can clothes be an expression of who we are who we want to be and how we look at others? What are the main characteristics in this type of communication and what kind of information can be distributed using this tool?

Method/Material: Interviews

Main results: Clothes can work as a tool to show who we are and what we are, mainly on short term. We use clothes for different purposes, sometimes we what to be seen and really show who we are and what we stand for and sometimes we just what to go with the flow and not be seen at all. We will always have a physical need for clothes but it is also a natural and important part of our individual expression and our identity.

Keywords: Fashion, Clothes, Identity, Lifestyle

Butiksdesignen är av stor vikt för en butik när det gäller att få kunder att stanna länge i butiken och därigenom även köpa mer. Studien behandlar hur butiker genom butiksdesignen kan förbättra sin försäljning. Syftet med studien är att beskriva inomhusdesignen i två butikskedjor och därefter jämföra likheter och skillnader mellan dessa. Detta för att få en förståelse för vad som fungerar och varför, respektive vad som inte fungerar och varför inte. Målsättningen är att presentera rekommendationer för åtgärder som företag genom butiksdesignen kan använda sig av för att förbättra försäljningen.

Studien har en kvalitativ ansats och är en fallstudie på två företag; Kicks och Yves Rocher. Utifrån dessa två butikskedjor har totalt 20 butiker observerats enligt metoden ”mystery shopper”, där två observatörer vid olika tillfällen har besökt butiken och agerat som kunder. Därigenom har en förståelse för hur kunder uppfattar butikerna erhållits.

Resultatet av studien visar att butikerna genomgående har en tillfredställande övergripande design men att detaljdesignen överlag är bristande. Vidare är kommunikationen av företagens differentierade budskap i de båda butikskedjorna bristfällig i alla undersökta butiker. Dessutom framkom det att personalen, trots vänligt bemötande, saknade faktakunskaper om produkter samt hade svårigheter att göra avslut och faktiskt få till en försäljning.

Utifrån resultaten har fem rekommendationer framkommit, vilka är att ha en tydlig kommunikation av företagens differentierade budskap i butikerna, fokusera på detaljdesignen, ha en smart exponering kring eftertraktade produkter, att hela tiden ha kunderna i fokus samt att ha kompetent och säljande personal. Dessa fem rekommendationer är av stor betydelse när butiker genom butiksdesign vill förbättra försäljningen.

Background:

Studying insider trading is difficult due to its sensitive and delicate nature. Therefore it is hard to gauge the extent of such activities. This problem has resulted in a fierce debate whether it should be prohibited or not. Using a method where the effect on monopolistic information usage can be isolated insider trading can be monitored. Such an event is a profit warning.

Purpose:

This paper examines whether insider trading exist for companies

making a profit warning between year 2003 and 2007 on the Stockholm

Stock Exchange. Furthermore the aim with the study is to contribute

to the debate on the insider trading legislation.

Method:

The study’s purpose is achieved through an event study studying the

cumulative abnormal return as well as average daily returns during

the thirty days preceding the warning for a sample of thirty companies.

Since profit warnings should be completely random and as such

almost impossible for the market to know in advance, a significant

abnormal return can only be explained with insider trading. The abnormal returns were calculated using the Capital Asset Pricing Model

since it is the most widely used model.

Conclusion:

For the chosen time frame, when testing on a 95% significance level,

the study found a significant abnormal return during the last 10 days

of the event window but not for the entire period of thirty days. The

daily average return for the thirty companies were significant for six

of the thirty days within the event window. Two of them were included

in the last ten day period with a confirmed significant abnormal

return which might suggest that on average insider trading tend

to occur during these days. The other four was discarded due to

sample issues. Since the study was limited to a period of four years

extending the results to a period other than tested should be made

with great care since conditions may differ over time. Concerning the

current debate on the insider legislation, the findings can be used by

both sides. Either to argue for a strengthening of the law or to question its existence.