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Ägaridentitetensbetydelse förlönsamheten: En kvantitativ studie av avkastningen i bostadsaktiebolag
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
2018 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesisAlternative title
Ownership identity and its impact on profitability : A quantitative study of the rate of return in housing companies (English)
Abstract [sv]

Introduktion: Sedan ändringen i lag (2010:879) om allmännyttiga kommunala bostadsaktiebolag år 2011 ska de kommunala bostadsbolagen agera enligt affärsmässiga principer. Affärsmässiga principer innebär bland annat att avkastningen ska vara marknadsmässig för att säkerställa en stark och neutral konkurrens på bostadsmarknaden. Genom att jämföra avkastningen i kommunala bostadsbolag med privata bostadsbolag undersöker denna studie om offentligt ägande innebär en skillnad som kan snedvrida konkurrensen.

Syfte: Syftet med denna studie är att jämföra avkastningen i kommunala bostadsbolag med avkastningen i privata bostadsbolag. 

Metod: Studien har en deduktiv ansats med ett eklektiskt teoretiskt angreppssätt för att formulera studiens hypotes. De kvantitativa tvärsnittsdata som studien baseras på har samlats in genom årsredovisningar och undersökts genom regressionsanalyser för att pröva studiens hypotes.

Slutsats: Studiens slutsats är att kommunala bostadsbolaghar lägre avkastning än privata bostadsbolag. Analysen visar att räntabilitet på både totalt och eget kapital är signifikant lägre för kommunala bostadsbolag även när det kontrolleras för faktorerna ägarspridning, agentens agerande, storlek, bostadsmarknadens styrka, utdelningar och extern finansiering.

Abstract [en]

Introduction: Since the change in Law (2010:879) on public municipal housing companies in 2011 the municipal housing companies should now act according to commercial principals. Among other things commercial principals implies that the rate of return should be adjusted to the conditions on the housing market to ensure a strong and neutral competition. By comparing the rate of return in municipal housing companies with the rate of return in private housing companies this study examines if public ownership make a difference that can distort competition.

Purpose: The purpose of this study is to compare the rate of return in municipal housing companies with the rate of return in private housing companies.

Method: The study has a deductive approach with an eclectic theoretical perspective to formulate the hypothesis. The quantitative cross-sectional data have been gathered through annual reports and then examined in regression analyzes to test the hypothesis.

Conclusion: The conclusion of this study is that municipal housing companies do have a lower rate of return than private housing companies. The analyzes show that both return on assets and return on equity is significantly lower for municipal housing companies even when controlled for concentration of ownership, agent behavior, size, the strength in the housing market, dividends and external financing.

Place, publisher, year, edition, pages
2018. , p. 58
Keywords [en]
Ownership identity, Hybrid organization, Housing companies, Rate of return, Eclectic theory
Keywords [sv]
Ägaridentitet, Hybridorganisation, Bostadsbolag, Avkastning, Eklektisk teori
National Category
Business Administration
Identifiers
URN: urn:nbn:se:liu:diva-148430ISRN: LIU-IEI-FIL-A--18/02763--SEOAI: oai:DiVA.org:liu-148430DiVA, id: diva2:1233657
Subject / course
Master Thesis in Business and Economics Programme (Business Administration)
Presentation
2018-06-04, T23, Linköpings universitet, Linköping, 14:45 (Swedish)
Supervisors
Examiners
Available from: 2018-08-30 Created: 2018-07-18 Last updated: 2018-08-30Bibliographically approved

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CiteExportLink to record
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Citation style
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