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- Alpenberg, Jan, 1964-, et al.
(författare)
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Slutrapport Kronoberg 2000 : - en kartläggning och analys av kompetensbehovet i Kronobergs län.
- 1999
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Föreliggande studie är en del i det utredningsarbete som EU Programkontor Mål 4 gjort kring Kronobergs län och framtidsförutsättningarna för fortsatt utveckling och expansion. Att på ett systematiskt sätt analysera en region och dess förutsättningar skapar en bra grund för beslut som på olika sätt påverkar framtiden. Vi har i detta arbete genomfört en omfattande såväl teoretisk som empirisk studie kring tillväxtförutsättningarna i Kronobergs län. Studien syftar explicit till att ”att identifiera relevanta faktorer som på kort och medellång sikt påverkar företagens konkurrenskraft” så att behov av framtida insatser för utbildning och kompetensutveckling bättre kan preciseras och planeras.
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| 4. |
- Gullberg, Anders, 1947-
(författare)
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Spelet om Nedre Norrmalm
- 1998
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Ingår i: Stockholm blir stor stad. - Stockholm : Byggförlaget. - 9179881394 ; , s. 8-49
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Bokkapitel (övrigt vetenskapligt/konstnärligt)abstract
- Få projekt har skapat sådana konflikter i Stockholms stadsplanehistoria som citysaneringen. De skiljaktiga meningarna skar rakt igenom partier och privata organisationer. Politikerna och näringslivets företrädare förhandlade och gjorde bytesaffärer. Av de 52 hektar som skulle totalsaneras enligt Cityplanen 1967 blev endast 24 förverkligade.
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| 7. |
- Millak, Jurek
(författare)
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Organisatorisk kompetens : organisatorisk kompetens och inlärning vid IT-satsningar i tre sjukvårdsorganisationer
- 1998
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The overall purpose of the study is to analyse and to create an understanding of the phenomenon of organisational competence in conjunction with the introduction of information technology (IT) or other competence raising measures where IT plays an important part. Comparative case studies have been chosen as the method and three different organisations have been investigated. The analysis and conclusions are based on a qualitative method inspired by Strauss and Corbin.The contribution to research from this study is as follows:In addition to technical and social competence the concept of awareness is introduced, which relates both of these concepts to the environment. Without awareness or insight into the competence which is required, or where and when it is required, the organisation is unable to utilise its total competence in a suitable manner. Further dimensions, both visible and invisible, are required in order to make a more penetrating analysis of the phenomenon of organisational competence.Two new concepts, core competence and peripheral competence are introduced. Core competence has a direct bearing on the core activity of the organisation. It is established in the study that organisational competence is developed when the investment relates to this core competence.There are a number of dimensions in an organisation which are extremely important if an investment in organisational competence is to succeed. These include cooperation among different employee groups, management support which legitimises the investment and the attitudes of the individual managers and employees. The size of the organisation is also important; it is primarily the small organisations which are successful. The financial circumstances of the organisation are of course important, but to a lesser extent than expected. Investments in organisational competence, as long as they refer to core competences, take place whether or not external financing is available.The study shows clearly that investment in IT should not be regarded as a goal in itself. In the successful investments, it is apparent that IT is only one of the means available and that it should be regarded as an integral part of a greater whole.For organisational learning to take place and for changes in organisational competence to be attained, it is essential that the organisation regards and classifies IT as part of its core competence.
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- Modén, Karl-Markus, et al.
(författare)
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Why issue equity abroad? Corporate reasons and stock market responses
- 1997
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Ingår i: Management International Review, July 1997. ; 37:3, s. 223-241
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Tidskriftsartikel (refereegranskat)abstract
- In a world with imperfectly integrated national capital markets the cost of funds is, in general, different across markets. If individual countries, by mutual agreement, or forced by factors outside their control, embark on a process of deregulation and financial integration, the spread in the cost of funds across markets will narrow. Some types of impediments, such as explicit capital controls, will be easily removed, while others such as informational problems, may prove harder to overcome. Sweden provides an example where national capital markets were highly regulated between 1939 and the mid-seventies, then a process of gradual liberalization began. This process increased in intensity during the first part of 1980s and culminated in 1989 then the last remnants of the formal exchange controls were removed.
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| 10. |
- Alkebäck, Per, 1965-
(författare)
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Do Dividend Changes Really Signal? : Evidence from Sweden
- 1997
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The purpose of the studies in this thesis is to clarify and hopefully shed some light on one important issue in dividend policy: the market reaction to announcements of cash dividends (changes) on the Swedish market.The first study, Joint Dividend and Earnings Announcements, Firm Size and Tax Law Changes, examines stock price reaction to joint dividend and earnings announcements. We found a statistically significant interaction effect for firms whose earnings and dividends indicate positive unanticipated news. The results also show that the hypothesis that small firms exhibit larger stock returns than large firms, also known as the small firm effect, was on the other hand, rejected. Finally, the tax law change in 1991 was accompanied by significant changes in stock return.The second study, Market Response to Dividend Initiations and Omissions, examines stock price reactions to dividend initiations and omissions and compares them to regular dividend increases and reductions. Signaling theory states that initiations (omissions) will produce larger positive (negative) reactions than regular dividend increases (reductions). However, signaling theory fails to fully predict the relationship for dividend reductions and omissions over the 2-day announcement period. One potential explanation of this inconsistency with theory is that firms that omit their dividend are viewed by investors as firms that accept the existence of problems and attempt to rectify them. We also found a U-shaped relationship between firms increasing and initiating their dividends over the 2-day announcement period return. This dampening effect could reflect that: (1) the market actually expected higher dividends from the large dividend increasing and initiating firms or, (2) simply that the signal issued by management was not believed by the investors.The third study, Annual Dividends and Subsequent Quarterly Earnings, examines the relationship between dividend announcements and subsequent changes in quarterly earnings per share on the StSE. Contrary to previous studies, the results are not consistent with the hypothesis that dividend signals are followed by unanticipated changes in earnings per share in the subsequent quarters in a direction consistent with the signal. Possible explanations of the lack of effects are: (1) not all firms set dividend policy in accordance with their expectations of future performance, (2) managers are unable to predict the future accurately, and (3) dividend policy is backward rather than forward looking.The forth study, Annual Dividend Cuts and Surrounding Annual Earnings Performance, examines annual earnings per share (unadjusted and industry-adjusted) for 112 Swedish firms whose annual dividends declined after three or more consecutive years of growth. The results are in contrast with signaling theory but consistent with recent empirical results, i.e., firms' earnings drop prior to a dividend cut (reduction or omission) and increases afterwards. Further, an examination of dividends and dividend yields reveal that many firms experience additional financial problems following the first dividend reduction as they continue to reduce the dividend.The fifth and final study, Cash Dividends in Sweden: The Management's View, reviews the underlying aspects of dividend policies pursued by Swedish firms. The empirical evidence has been gathered from a survey based on a questionnaire of the firms listed on the Stockholm Stock Exchange in 1996. The results show that dividends are not residually determined. Instead, they support the standing that managing directors of Swedish firms pursue a policy of active management (where the respondents among other things agreed that, on average, dividend payments provided a "signaling device" of future firm prospects). These results are also supported by earlier studies on the Australian and Irish stock market, respectively. Further, the list-, size- and industry a firm belongs to seems to have little or no influence on the dividend policy, with the exception of the decisions of the managing directors of investment firms. They, on the other hand, differ significantly in their opinions on several statements from the managing directors of other industries, probably due to the investment firm rebate and to differences in taxation.In sum, there is not much evidence in this thesis to support the claim that dividend changes in Swedish firms inform us about future earnings changes, despite managing director consensus that, on average, dividend payments provide a "signaling device" of future firm prospects. Instead, dividends seem to be better described as lagging earnings rather than leading earnings. However, on average, we find that dividend changes are associated with abnormal returns at the announcement. This suggests that the market does treat dividend changes as having informational content. This implies that if firms are sending a signal, it is not about future earnings or the market does not receive it as such. Why firms would burn money to send a signal that is not received is, indeed, a puzzle.
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