| 1. |
- Roos, Magnus, et al.
(författare)
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A three-level analysis of values related to socially responsible retirement investments
- 2022
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Ingår i: Journal of Sustainable Finance & Investment. - : Informa UK Limited. - 2043-0795 .- 2043-0809.
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Tidskriftsartikel (refereegranskat)abstract
- The aim is to investigate the value basis of Socially Responsible Retirement Investments (SRRI) in a study of Swedish pension investors in the age range 18 to 65 years (N=1005). Logistic regression analyses were performed with self-reported SRRI choice as dependent variable and different levels of values as independent variables. On a higher level of analyses, self-transcendent values, especially universalism (e.g., equality, protecting the environment, and social justice), have the most important influences on SRRI choice. In contrast, on a lower-level analysis, SRRI choice is influenced by self-enhancement values with high priority for authoritarian power and low priority for wealth. The three-level analysis of values (self-transcendence vs self-enhancement value orientation, motivational domain, and value) questions the contradiction between dimension poles of values and the structuring of values in interrelated motivational domains. The results thereby clarify some previous findings and increase the understanding of the value basis of SRRI.
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| 2. |
- Hacker, R Scott, et al.
(författare)
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Capital Mobility in Sweden : A Time Varying Parameter Approach
- 2007
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Ingår i: Applied Economics Letters. - : Informa UK Limited. - 1350-4851 .- 1466-4291. ; 14:15, s. 1115-1118
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Tidskriftsartikel (refereegranskat)abstract
- This article investigates the degree of capital mobility in Sweden during 1993 to 2004 using quarterly data. A time varying parameter model is estimated by the Kalman filter, and it shows that the relationship between investment as share in gross domestic product (GDP) and saving as share in GDP is much less than one (within the interval of 0.25–0.35), indicating substantial capital mobility. However, since the coefficient in each period is statistically different from zero, capital is still not perfectly mobile. Nevertheless, capital mobility seems to have increased until 1995 when Sweden became a member of EU and after membership there seems to be no significant increase in capital mobility.
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| 3. |
- Jansson, Magnus, et al.
(författare)
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Banks' risk taking in credit decisions : influences of loan officers' personality traits and financial risk preference versus bank-contextual factors
- 2023
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Ingår i: Managerial Finance. - : Emerald Group Publishing Limited. - 0307-4358 .- 1758-7743. ; 49:8, s. 1297-1313
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This paper aims to investigate whether loan officers' risk taking in credit decisions are associated with their personal financial risk preference and personality traits or solely with bank-contextual and loan-relevant factors. Design/methodology/approach: An online survey administered in six large Swedish banks to 163 loan officers responsible for assessing credit risk and approval of loan applications. The loan officers rated their likelihood of approving fictitious loan applications from business companies. Findings: The loan officers' credit risk taking is associated with bank-contextual factors, directly with perceived organizational credit risk norms and indirectly with self-confidence in assessing credit risks through attitude to credit risk taking. A direct association is also found with personal financial risk preference but not with personality traits. Research limitations/implications: Increased awareness of that loan officers' personal financial risk preference is associated with their credit risk taking in loan decisions but that the banks' risk policy has a stronger association. Banks' managements and boards should therefore assure that their credit risk policy is implemented, followed and being aligned with their performance incentives. Practical implications: Increased awareness of that loan officers' credit risk taking is associated with personal financial risk preference but more strongly with the banks' risk policy that motivate banks' managements and boards to assure that their credit risk policy is implemented, followed and being aligned with their performance incentives. Originality/value: The first study which directly compare the associations of loan officers' risk taking in credit approvals with personal risk preference and personality traits versus bank-contextual factors and loan-relevant information.
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| 4. |
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| 5. |
- Laitila, Thomas, 1960-, et al.
(författare)
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Commuting and the Economic Milieu : An Investigation of the Choice to Commute Related to Labor Demand, Worker Competition and Wage
- 2015
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Ingår i: Regional Development in an International Context. - Trollhättan : University West. - 9789187531170 ; , s. 369-380
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Konferensbidrag (refereegranskat)abstract
- We calculate aggregate economic-milieu variables and use them as explanatory variables to study the Swedish commuting pattern. The variables are of accessibility type (i.e. spatially discounted) and are logarithmic ratios. We start from the assumption of utility maximizing individuals. The probability to commute using a link increases with expected utility. We apply two models: the quantity model and the wage model. The explanatory power is high and the results are as expected. Labor demand is positively related to utility. Worker competition is negatively related to utility. Wage is positively related to utility. A municipality, which isnot a regional center, can strive to increase the number of jobs within the municipality. The second best, for such a municipality, is that jobs are available in the municipality that is the regional center. Otherwise, the municipality and region will economically decline.
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| 6. |
- Olsson, Michael, 1966-
(författare)
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Att analysera och rapportera ekonomi : Från idé till presentation
- 2016. - 1:1
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Bok (populärvet., debatt m.m.)abstract
- Att analysera och rapportera ekonomi handlar om vanliga arbetsuppgifter för en ekonom: att bygga modeller, genomföra analyser samt skriva och presentera rapporter. Boken består av två delar: Ekonomiska modeller och rapporter samt Laborationer.Del ett handlar om hur du bygger modeller, skriver och presenterar rapporter. Här förklaras alla moment som gör att du kan komma från idé till rapport. Förutom rena färdigheter beskrivs förhållningssättet till att skriva och presentera. Till varje kapitel finns övningar och i slutet av boken ett facit. Del två består av laborationer där du övar på att komma från idé till rapport. Här presenteras även en beskrivning av hur en idé kan uppkomma och det kan hjälpa dig att själv få ett uppslag till en rapport. Bokens andra del fungerar även som underlag för seminariediskussioner om uppsatsskrivande och ekonomisk analys.Boken förklarar tydligt och enkelt praktiska färdigheter som en ekonom behöver i sitt dagliga arbete. Den vänder sig till dig som vill kunna bygga modeller för att analysera problem, skriva rapporter och skapa presentationer med Excel, Word och PowerPoint och kan användas som komplement i introduktionskurser i ekonomi, men även i kurser mer inriktade på modellering eller skrivande t.ex. uppsatskurser på fördjupnings- och avancerad nivå. Boken kan läsas på flera sätt beroende på läsarens färdighetsnivå, såväl som en komplett guide från idé till rapport som en uppslagsbok för den som vill ha snabba tips. Att analysera och rapportera ekonomi ger läsaren de verktyg som behövs för att lyckas med ekonomisk uppsats eller rapport.
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| 7. |
- Olsson, Michael
(författare)
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Free versus monitored job search in Sweden
- 2012
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Ingår i: The Regional Economics of Knowledge and Talent. - Cheltenham : Edward Elgar Publishing. - 9781781953549 - 9781848443280 ; , s. 194-209
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Bokkapitel (refereegranskat)abstract
- Both jobseekers and vacancies are spatially distributed. A jobseeker has accessibility to vacancies and a vacancy has accessibility to applicants, and these accessibility measures vary across locations. Left alone, an individual most often prefers to search for a job close to the present home address. The unemployment benefit rules state rather strict mobility requirements. Using these rules changes the accessibility measures at all places. In other words, monitoring job search affects both the search intensity and the level of competition. This directly affects where a jobseeker finds a job. It is shown that an increased mobility follows from a strict usage of the rules. The increased mobility of individuals implies additional transfer of knowledge and ideas.
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| 8. |
- Olsson, Michael, et al.
(författare)
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Living standard, quality of life, globalization and competitiveness in the EU and the neighbour countries : an empirical analysis
- 2012
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Ingår i: Acta Scientiarum Polonorum - Oeconomia. - : Wydawnictwo SGGW. - 1644-0757 .- 2450-047X .- 2450-4602. ; 11:1, s. 5-21
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Tidskriftsartikel (refereegranskat)abstract
- This paper deals with the theoretical and empirical relations between living standard, quality of life, globalization and international competitiveness of countries. While economists are not convinced that competitiveness of countries is a useful concept, because firms and industries compete economically and not countries, the general public, journalists and politicians seem to feel that competitiveness is important. E.g., one of the goals of the European Union is to become the most competitive economy in the world. Furthermore, economists argue, that economic globalization has the potential of increasing economic welfare for all. In this case, the general public is more sceptical. Finally, the general public but even other scientists than economists, seem to believe that living standard and the quality of life are only weakly related to each other. The following results can be mentioned. We found strong positive correlations between our main variables. Our hypotheses are with other words supported.
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| 9. |
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| 10. |
- Zaher, Fadi
(författare)
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Evaluating Asset-Pricing Models in International Financial Markets
- 2006
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of three empirical studies on asset-prices in international financial markets. The purpose is three-fold. First, to evaluate whether good predictions of economic variables may be obtained by pooling information from a broad group of financial variables. Second, to formulate asset-pricing models from seven established stock markets. Third, to evaluate the asset-pricing models in the presence of short-sales.Chapter 2 applies a large data set, consisting of 167 monthly time series for the UK, both economic and financial, to simulate out-of-sample predictions of industrial production, inflation, three-month Treasury-Bills and other variables. Fifteen dynamic factor models that allow forecasting based on large panels of time series are considered. The performances of these factor models are then compared to the following competing models: a simple univariate autoregressive, a vector autoregressive, a leading indicator, and a non-expectational Phillips curve models. The results show that the dynamic factor models outperform the competing models in forecasting at 6-, 12-, and 24-month horizons. Two main findings are highlighted. First, the financial markets have a predictive power in terms of economic activity. Second, for some variables, the dynamic factor model appears to be more reliable than other competing models.In an attempt to analyze the equity premium puzzle and the risk-free rate puzzle, Chapter 3 compares different asset-pricing models within an international framework. To do so, it evaluates the performance of the following models: time separable-constant relative risk aversion, internal habit, external habit with externality, external habits which yield a constant risk-free rate, adaptive learning with constant gain, and state non-separability. The data are from seven industrialized countries, namely the United States, Canada, Japan, the United Kingdom, France, Denmark, and Sweden. Regarding empirical evidence, this thesis uses the Hansen-Jagannathan approaches to impose volatility restrictions on the asset-pricing models. The time-separable, adaptive learning and external habit models fail, and the evidence favors the internal habit persistence model. However, success is limited to some countries and to the equity premium puzzle rather than the risk-free rate puzzle. Finally, the state-non-separable specification consistently resolves the equity premium puzzle for all the countries.Chapter 4 analyzes the effect of market frictions on the equity premium puzzle. Indeed, in the standard asset-pricing model with time-separable preferences, the volatility of the intertemporal marginal rate of substitution is too low for plausible values of risk aversion to be consistent with consumption and asset return data. Following this, the Hansen-Jagannathan method is applied to evaluate the equity premium puzzle for the UK in two directions. First, the time-separable model, the internal and the external habit formation models and the state non-separable model are examined under the assumptions of both frictionless markets and market frictions. Second, a bootstrap experiment is conducted to show that these asset-pricing models violate the Hansen-Jagannathan bound in almost all the samples. Indeed, because of the changes in the sample means in consumption growth and asset returns, all the models appear to be weak under frictionless markets. By contrast, asset-pricing models with market frictions are much more successful in the bootstrap experiment.
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