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  • 51.
    Arfvidsson, Erik
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Rosén, Mikael
    Linköping University, Department of Management and Engineering, Economics.
    Valutahantering i små och medelstora svenska företag.– En studie av små och medelstora företags process vid valutahanteringsbeslut2016Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [sv]

    Valutamarknaden anses idag vara världens största marknad. Företag som är exponerade mot utländsk valuta vare sig det rör sig om import eller export bör ha en process för valutahantering. Tidigare studier visar däremot att knappt 50 % av berörda företag hanterar valutaexponeringen med någon form av valutasäkring. Frågetecken väcks då kring den process företag har vid beslutsfattning om valutahantering. Syftet med studien är att utreda små och medelstora svenska icke-finansiella bolags valutahantering. För att på bästa möjliga sätt erhålla exponerade företags syn på valutasäkring är studien av kvalitativ karaktär. Informationen är insamlad från åtta intervjuer. För att stämma in på syftet med att fokusera på små och medelstora bolag har en gräns på 500MKR SEK i årlig omsättning använts. Det insamlade materialet visar att majoriteten av företagen saknar en systematisk process och analys vid hantering av valutaexponering. Det är förekommer ofta att en persons subjektiva åsikt avgör företagets valutahanteringsstrategi. Strategin är även sällan förankrad i ekonomisk teori. Studien belyser även att det finns en kunskapslucka hos företagsledningar kring valutahantering vilket skapar möjligheter för banker och andra finansiella aktörer att utveckla samarbetet med företagen.

  • 52.
    Aronsson, Karl
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Aktulga, Can
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Prisbildning på bostadsrättsmarknaden i Stockholm: En ekonomisk tvärsnittsstudie av underliggande faktorer2012Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Bostadsrättspriser är under ständig diskussion inte minst i Stockholm där priserna kan vara dubbelt så höga jämfört med övriga Sverige. Olika faktorer ses kunna påverka prisbilden på bostadsrätter, vissa mer intuitivt än andra, samtidigt som till synes liknande bostadsrätter i ett område prismässigt sett kan variera. Detta väcker frågor kring vad det är som påverkar bostadsrättspriser och vilka faktorer som har störst inflytande på prisbilden. Frågeställningarna har lett till studiens syfte: att genom en tvärsnittsstudie, analysera vilka bakomliggande faktorer som ligger till grund för prisbildningen på bostadsrättsmarknaden i centrala Stockholm.

    Tvärsnittsstudien baseras på insamlade empiriska observationer av sålda bostadsrätter i centrala Stockholm (Kungsholmen, Södermalm, Östermalm samt Vasastan/Norrmalm) under perioden mars till och med maj år 2012. Utifrån hedonisk pristeori, där priset implicit avslöjar konsumentens preferenser, har anpassade regressioner genomförts. Dessa har lett till att konsumenternas prioriteringar gällande olika bostadsrättsaspekter kunnat kartläggas och analyserats.

    Studiens slutsatser är att bostadsytan är den överlägset mest inflytelserika variabeln vad gäller prispåverkan. Vidare ses även variabler gällande antalet rum, månatlig kostnad, geografiskt läge, balkong, byggnadsperiod, våningsplan, kakelugn och hiss vara signifikanta för att påverka prisbilden. Gällande bostadsrätternas geografiska läge, kopplat till prispåverkan, dras slutsatsen att det är dyrast att bo på Östermalm och i Vasastan/Norrmalm. Detta kan förklaras av ett stort antal bostadsrätter från äldre byggnadsperioder, vilka har visat sig betinga ett högre pris.

    Ytterligare slutsatser kring faktorer som påverkar prisbilden är att konsumenter värderar att bo relativt högt i bostadshusen samt att de är beredda att betala ett markant högre pris för att få tillgång till balkong eller kakelugn.

  • 53.
    Arouri, Mohamed
    et al.
    CRCGM, University of dAuvergne, France.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Chakraborty, Sanjib
    Go for Green HB, Sweden.
    Chaibi, Anissa
    IPAG Business School, France.
    Foulquier, Philippe
    EDHEC Business School, France.
    Business activity and environmental degradation in Mexico2014In: Journal of Applied Business Research, E-ISSN 2157-8834, Vol. 30, no 1, p. 291-300Article in journal (Refereed)
    Abstract [en]

    This paper contributes to the literature by investigating the relationships between business activity, carbon dioxide (CO2) emissions, energy consumption in a developing country by taking into consideration the effects of ongoing industrialization and financial development. To do this, we introduce an innovative empirical approach based on ARDL bounds testing in the presence of structural breaks and apply it to Mexico over the period 1971-2011. We show strong evidence of cointegration between these variables. More interestingly, we find that energy is the long-run forcing variable to explain the Mexican business activity growth. This implies that energy savings policy may result in decreasing the national income or employment.

  • 54.
    Aydogan, Helin
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Gatjetjiladze, Sofia
    Linköping University, Department of Management and Engineering, Economics.
    The Relationship Between House Prices and Stock Prices: An Empirical Analysis of the Swedish Market2019Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    It is of continual topicality to understand the interaction between the stock market and the house market as they are central parts of the economy and important resources and investment alternatives for both households and firms. Hence, these two markets can be crucial for consumers and investors and consequently economic growth. With a focus on Sweden and Sweden's three largest cities, we examine the relationship between house prices and stock prices by including GDP, inflation and the repo rate over the period 1994-2018. We examine this by using time series analysis and investigating both the short and long run relationship by mainly focusing how the causal link looks like based on the theories of wealth effect and credit-price effect. Our results show a negative long run relationship in Sweden indicating that an increase in house prices decreases stock prices, and for the short run there is evidence of the credit-price effect. For Stockholm, we found a positive bidirectional long run relationship and a bidirectional causality was also confirmed for the short run. For Gothenburg, we find a negative long run relationship where an increase in stock prices decreases house prices, however there is no evidence of a causal relationship in the short run. For Malmö we find a positive long run relationship that goes from stock prices to house prices and the reverse causation is found for the short run demonstrating the credit-price effect. Although we find that these markets have a relationship, we still argue that they are relatively separated and that investors can diversify over these assets because of the low values our results show.

    Keywords: house prices, stock prices, Sweden, wealth effect, credit-price effect

  • 55.
    Back, Lovisa
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Johannisson, Emma
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Ransoneringar på policy- och individnivå i hälso- och sjukvården - Ett beteendeekonomiskt experiment: Health Care Rationing at Policy and Bedside Level - A behavioral economic experiment2015Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    Background: Scarce health care resources fail to supply the increasing demand. In order to allocate the economic resources as efficiently as possibly the capacity to ration, to deny patients health care, is essential. Rationing decisions can be considered as moral dilemmas where the decision maker is required to choose between two conflicting ethical principles. However, the conditions under which policymakers and physicians make decisions are different. Many policies are not applicable at the bedside level since they are based on a group perspective and tend to ignore a patient's individual needs.Aim: The aim of this study is to conduct a behavioural economic experiment and examine how the context of the decision-maker influences the outcome of their decision in health care rationing situations.Method: Medical students and students from other graduate programmes receive a questionnaire where they each make decisions in rationing scenarios where utilitarian and deontological principles are in conflict. Each survey is framed as a decision presented in one of two decision-making contexts, policy or bedside level. At policy level, the subjects assume the perspective of a head of department and make decisions regarding a patient based upon a group statistic. At bedside level, the subjects take the perspective of a physician and make decisions regarding an identified patient.Results: Subjects are more utilitarian and ration to a higher degree at policy level than at bedside level. The difference in the rate of utilitarian answers at policy level in comparison to bedside level is largest for medical students and in life saving scenarios. Students from other graduate programmes, however, are more likely to ration at policy level. In life enhancing scenarios, the effect of the decision-making context differs and the rate of utilitarian responses is in some cases lower at policy level than at the individual level.Conclusion: This study shows that decisions at the policy and the bedside level are not necessarily the same, even though the available information of the treatments and costs remains unchanged. This result encourages further studies on the impact of the decision-making context on rationing decisions in health care.

  • 56.
    Backgård, Björn
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Invandringsmotstånd i Sverige - en ekonometrisk studie2015Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [sv]

    Stödet för det invandringskritiska partiet Sverigdemokraterna (SD) har blivit alltstarkare under de senaste tre valen. Denna trend sammanfaller med en ökad invandring,och allt större svårigheter för invandrare att integrera sig på arbetsmarknaden,vilket sammantaget innebär en utmaning för välfärdssystemen. Öppna gränser inomEuropa medför samtidigt arbetskraftsinvandring, vilken ökar konkurrensen om vissajobb. Studiens syfte är att undersöka hur mycket av SD:s stöd vilket tolkassom motstånd mot invandring som kan förklaras ur ett ekonomiskt perspektiv:huruvida motståndet mot invandring är högre i kommuner där invandringen antasha mer negativa ekonomiska konsekvenser för befolkningen. Undersökningen görsutifrån data på kommunivå från valåren 2006, 2010 och 2014. Med tre valår och290 kommuner skapas en datapanel omfattande 870 observationer, och ett tjugotalvariablers inverkan undersöks med skattningsmetoderna xed- och random eects.Resultaten visar att den mesta variationen är oförklarad, men pekar också mot attgrupper som ekonomiskt sett bör förlora mest på invandring faktiskt stöder SD i 

    högre grad. Stödet är högre där invandrare i lägre grad förvärvsarbetar jämfört medsvenskfödda, där er människor saknar gymnasieutbildning och där medianlönernaär låga. Skattningar med interaktionsvariabler tyder dessutom på att hög grad avbidragsberoende bland svenskfödda har eekt främst i närvaro av hög andel invandrare.Dessa resultat talar tillsammans på att stödet för Sverigemokraterna är delviskopplat till oro för de sociala skyddsnätens fortlevnad. Vissa resultat pekar på attockså arbetskraftsinvandring från andra EU-länder haft stor inverkan på stödet förSD, men andra resultat motsäger detta. Visst stöd hittas också för att högre brottslighetbland invandrare stärker SD:s stöd. Den realtivt låga förklaringsgraden tolkassom att invandringsmotståndet till stor del är kulturellt betingat, men den kan ävenbero på att variation i partistöd är större än variationen i invandringsmotstånd.

  • 57.
    Backlund, Eric
    et al.
    Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
    Sörensson, Jonathan
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Valuta och internationellt bistånd: Svenska biståndsorganisationers hantering av valutaköp och valutarisk2015Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    Background: Non-governmental organizations (NGOs) are active in most parts of the world and are consequently exposed to foreign exchange risk. The organizations manage aid funds in both common and uncommon types of currency when they in different ways finance local cooperation partners. The amount of previous research how aid organizations handle the management of currency trade and foreign exchange risk is limited and this study aims to examine the area further.

    Aim: The study aims to analyse the complex of problems regarding exposure to foreign exchange risk for both Swedish NGOs and their cooperation partners, to do so on the basis of foreign exchange risk theory and best practice. The aim is in such a way to discuss general strategies for currency trade and foreign exchange risk management for Swedish NGOs.

    Completion: The qualitative approach consists of nine interviews that have been designed in accordance with theory and previous research. A picture of the organizational processes and needs of Swedish NGOs regarding foreign exchange risk- and currency trade management was given by five interviews with NGOs. Information concerning how foreign exchange risk- and currency trade management is utilized in practice and how experts in the field perceive current management of NGOs was gathered from four interviews with actors within foreign exchange risk- and currency trade management. The empirical data is analysed on the basis of the theoretical framework and previous research.

    Conclusion: The study shows that the complex of problems regarding foreign exchange risk- and currency trade management are not as straightforward as at first glance. It also indicates that foreign exchange risk management differs between for-profit businesses and non-profit organizations. It appears that NGOs currently transfer all foreign exchange risk exposure to its counterpart through contracts. The investigation and implementation of foreign exchange risk management is not possible for NGOs with a large ratio of restricted funds. Finally a number of strategies have been developed for a more cost-effective currency trade. 

  • 58.
    Backman, Anna
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Nordström, Amanda
    Linköping University, Department of Management and Engineering, Economics.
    Too Sustainable to Fail? En ekonomisk analys av Corporate Social Responsibility i svenska storbanker2016Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Denna uppsats utreder syftet med Corporate Social Responsibility (CSR) i de fyra svenska

    storbankerna - Svenska Handelsbanken, Nordea, Skandinaviska Enskilda Banken (SEB) och

    Swedbank. Uppsatsen är en teoretisk ansats till att analysera den kortsiktiga samt långsiktiga

    finansiella lönsamheten av CSR i bankerna, och använder en referensram av nationalekonomisk

    teori och tidigare forskning på området. Den teoretiska plattformen kompletteras med

    studier av storbankernas CSR-arbete där empirin utgörs av existerande dokumentation i form

    av bland annat rapporter och årsredovisningar samt intervjuer med representanter från respektive

    bank. Den sammanställning av tidigare studier som används i denna uppsats inleds med

    en redogörelse för diskussionen om CSR som koncept inom tidigare forskning, och behandlar

    därefter CSR inom marknadsstruktur och institutionell teori, finansiell lönsamhet, konsumentteori

    samt intern organisation.

    Vår utredning visar att syftet med CSR för storbankerna i huvudsak är finansiell lönsamhet

    som härrör från signalering om att bankerna är långsiktiga, stabila och innovativa. CSR fungerar

    även stötdämpande vid kriser. Arbetet med CSR tycks inte i huvudsak pådrivas av efterfrågan

    från individuella konsumenter utan snarare av det svenska samhället som helhet. Detta

    reflekteras i att konsumenter straffar uteblivet eller negativt CSR-arbete marginellt sett mer än

    de belönar positivt CSR-arbete, eftersom mycket tyder på att CSR antas vara en given del i en

    banks verksamhet idag. Ett spelteoretiskt perspektiv kan även förklara bankernas intensifierade

    CSR-arbete, oberoende av graden av lönsamhet. Övriga uppvisade positiva effekter av CSR är

    ökad effektivitet inom bankernas interna organisationer, samt kortsiktiga vinster i form av exempelvis

    avkastning. CSR fungerar även som ett verktyg för differentiering på marknaden.

    Slutligen menar vi att finansiellt, socialt och miljömässigt ansvarstagande leder till långsiktiga

    fördelar för samhället.

  • 59.
    Badshah, Ihsan
    et al.
    Auckland Univ Technol, New Zealand.
    Bekiros, Stelios
    European Univ Inst, Italy.
    Lucey, Brian M.
    Trinity Coll Dublin, Ireland.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Asymmetric linkages among the fear index and emerging market volatility indices2018In: Emerging Markets Review, ISSN 1566-0141, E-ISSN 1873-6173, Vol. 37, p. 17-31Article in journal (Refereed)
    Abstract [en]

    This study explores the relationships between changes in the fear index (VIX) and changes in emerging market volatilities i.e., Chinese, Brazilian and the overall emerging volatility index, across their conditional distributions by employing a mixed Quantile regression - Copula methodological approach. Moreover, we analyze whether emerging market volatility indices would respond asymmetrically to positive and negative volatility shocks in the fear index i.e., whether the relationships are asymmetric between the VIX and the emerging market volatilities. Our results confirm that there are strong positive relationships between changes in the VIX and emerging market volatilities, and the linkages tend to be stronger for the upper-parts of the conditional distributions, namely above the median-quantiles up to the extreme-quantiles. In all cases, the nature of the relationship appears to be contemporaneous and on average is three times stronger than their lagged relationship. Further test results reveal that the relationship is highly asymmetric i.e., the effect of a positive shock in the VIX is on average about twice more pronounced than the effect of a negative shock at the extreme-tails of their conditional distributions, a stylized fact that cannot be revealed via conventional estimation methods as OLS. If we compare the effects of positive and negative VIX shocks on emerging market volatilities utilizing QRM, Copulas and OLS, our findings reveal that the effect of a positive shock by the QRM at the 95% quantile is about eight times higher than the one revealed by OLS. An exhaustive robustness analysis is also performed with respect to other volatility measures.

  • 60.
    Balli, Faruk
    et al.
    Massey Univ, New Zealand.
    Shahzad, Syed Jawad Hussain
    Montpellier Business Sch, France.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    A tale of two shocks: What do we learn from the impacts of economic policy uncertainties on tourism?2018In: Tourism Management, ISSN 0261-5177, E-ISSN 1879-3193, Vol. 68, p. 470-475Article in journal (Refereed)
    Abstract [en]

    In this paper, we investigate the impact of the economic policy uncertainties on the tourism demand, by using multiple and partial wavelet analysis. We find that global economic policy uncertainties (EPUs) impact on tourism demand in various levels for different countries. The effect is on peak and stay longer in certain periods; such as GFC or 9/11. More importantly, novel to the literature, the domestic EPUs significantly affect the tourist inflows, indicating that policy holders need to take into account EPU fluctuations in forecasting the short-term and medium term tourism demand.

  • 61.
    Balli, Faruk
    et al.
    School of Economics and Finance, Massey University, Albany, New Zealand.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Mudassar, Hasan
    School of Economics and Finance, Massey University, Albany, New Zealand.
    Yoon, Seong-Min
    Department of Economics, Pusan National University, Busan, Republic of Korea.
    Cross-country determinants of economic policy uncertainty spillovers2017In: Economics Letters, ISSN 0165-1765, E-ISSN 1873-7374, Vol. 156, p. 179-183Article in journal (Refereed)
    Abstract [en]

    This study explores the determinants of cross-country economic policy uncertainty (EPU) spillovers. We find that bilateral factors such as trade and common language play a highly significant role in explaining the magnitude of EPU spillovers. Furthermore, the magnitude of EPU spillovers is higher for countries having higher vulnerability in terms of fiscal, trade, or financial liability imbalances. (C) 2017 Elsevier B.V. All rights reserved.

  • 62.
    Balli, Faruk
    et al.
    Massey Univ, New Zealand.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Shahzad, Syed Jawad Hussain
    Montpellier Business Sch, France.
    Geopolitical risk and tourism demand in emerging economies2019In: Tourism Economics, ISSN 1354-8166, E-ISSN 2044-0375, Vol. 25, no 6, p. 997-1005Article in journal (Refereed)
    Abstract [en]

    In this article, we investigate the impact of geopolitical risk (GPR) on international tourism demand in emerging economies. We have found that impact of GPR is not homogeneous for every country in our sample; for example, some countries are affected heavily by GPR and others are mostly immune to GPR shocks. In general, for countries that have attractive tourism destinations, the impact of GPR is minimal, indicating that if international tourists desperately want to go a destination, they do not take GPR seriously. In addition, the tsunami impact of GPR is not the same for all affected countries. For some countries, the GPR shocks have an impact within 2 to 3 months of its first hit, while for other countries, the impact is felt over longer periods.

  • 63.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Acquisition, Plant Survival and Employment Growth2018Conference paper (Other academic)
  • 64.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Acquisition, Plant Survival and Employment Growth2018Conference paper (Other academic)
  • 65.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Global Activities and Plant Survival: The Case of Sweden2014In: Innovation, globalization and firm dynamics : lessons for enterprise policy / [ed] Anna Maria Ferragina, Erol Taymaz, Kamil Yilmaz, Routledge, 2014, p. -35Chapter in book (Refereed)
    Abstract [en]

    This chapter provides an extensive review of the empirical evidence found for Sweden concerning plant survival. The result reveals that foreign MNE plants and exporting non-MNE plants have the lowest exit rates, followed by purely domestic-oriented plants, and that domestic MNE plants have the highest exit rates. Moreover, the exit rates of globally engaged plants seem to be unaffected by increased foreign presence, whereas there appears to be a negative impact on the survival rates of non-exporting non-MNE plants. Finally, the result reveals that the survival ratio of plants of acquired exporters, but not other types of plants, improves post acquisition.

  • 66.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics.
    Global sourcing, firm size and export survival2019In: Economics, ISSN 1864-6042, E-ISSN 1864-6042, Vol. 62Article in journal (Refereed)
    Abstract [en]

    This paper investigates how firm size and global sourcing affect the export surviving probabilities. By using data on export and import transactions disaggregated by destination/origin for the entire Danish manufacturing firms between the periods 1995– 2006, the author is able to classify the firms into different size categories and to observe whether they continue or cease to export. Moreover, he is able to define whether the firms source intermediate inputs from high- or low-wage counties. The results, after controlling for the endogeneity of the international sourcing decision by using IV and matching approach, indicate that firm size is positively correlated with the likelihood of continuing to export. Moreover, for small and medium size firms, global sourcing seems also to increase the probability of staying in the export market but only if they source from high- wage countries. However, sourcing inputs from abroad, no matter if it is from high- or low-wage countries, do not seem to significantly affect the export surviving probabilities for larger firms.

  • 67.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics.
    Global sourcing, productivity and export intensity2019In: The World Economy, ISSN 0378-5920, E-ISSN 1467-9701, Vol. 00, p. 1-29Article in journal (Refereed)
    Abstract [en]

    This paper investigates the effect of global sourcing on firm performances by using data on Danish manufacturing firms during the period 1995–2006. The results show that firms with better ex‐ante characteristics are more inclined to source intermediate inputs from abroad. The results also show that firms that source from different locations possess different ex‐ante characteristics; the most productive source inputs from high‐wage countries while capital stock and being an exporter are more important factors when sourcing from low‐wage countries. Moreover, controlling for the endogeneity of both the sourcing decision and location by using instrument variable and DiD matching approach, the results seem also to suggest that firms that source inputs from high‐wage countries benefited from doing so in terms of higher growth of productivity and export intensity. Firms that source inputs from low‐wage countries, on the other hand, seem not to have experienced any significant impact on neither productivity nor export, not even three years after they started to source inputs from these countries.

  • 68.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Offshoring and product development2017Conference paper (Other academic)
    Abstract [en]

    This paper investigates the link between offshoring and product development by utilizing novel and detailed firm- and product level dataset for the Danish manufacturing sector during the period 1996-2006. By using information on all import transactions disaggregated by origin and on all manufactured products and sales measured at the eight-digit Combined Nomenclature (CN8) level, I am able to define, i) whether the firms are engaged in offshoring activities or not, ii) the amount of CN2, CN4 and CN6 product mix they sell in the domestic and export market, and iii) whether they have (on a yearly basis) developed a new product. The results seem to indicate that offshoring firms have better ex-ante characteristics than non-offshoring firms. However, controlling for this endogeneity by using Coarsened Exact Matching (CEM), the results seem also to indicate that offshoring to high-wage countries increases the probability to develop a new CN4 and CN6 products by about 11 and 12 percent, whereas offshoring to low-wage countries have no effect on product development. Moreover, locating the offshoring to high-wage countries have no significant effect on the amount of CN2 product mix, only on CN4 and CN6 product mix. However, if the offshoring is located in low-wage countries the CN4 and CN6 product mix are not affected but the CN2 product mix is on average reduced by 5 percent as compared to the matched non-offshoring firms.

  • 69.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Offshoring and product development2017Conference paper (Other academic)
  • 70.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Offshoring, Firm Size and Export Survival2016Conference paper (Other academic)
  • 71.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Offshoring, Firm Size and Export Survival2019Conference paper (Other academic)
  • 72.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Offshoring, Firm Size and Export Survival2016Conference paper (Other academic)
  • 73.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences. Aarhus University, Denmark.
    Offshoring, Plant Survival and Employment Growth2016In: The World Economy, ISSN 0378-5920, E-ISSN 1467-9701, Vol. 39, no 5, p. 597-620Article in journal (Refereed)
    Abstract [en]

    n/a

  • 74.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    The Effect of Offshoring on Productivity and Export Growth2018Conference paper (Other academic)
    Abstract [en]

    This paper investigates the effect of offshoring on firm performances by using data on Danish manufacturing firms during the period 1995-2006. The results show that firms with better ex-ante characteristics are more inclined in offshoring activities. The results also show that firms that source from different locations possesses different ex-ante characteristics; the most productive source inputs from high-wage countries while, capital stock and being an exporter are more important factors when sourcing from low-wage countries. Moreover, controlling for the endogeneity of both the offshoring decision and location by using instrument variable and DiD matching approach, the results seem also to suggest that firms that allocated some of their production process to high-wage countries benefited from doing so in terms of higher growth of productivity and export intensity. Firms that allocated their offshoring activities to low-wage countries, on the other hand, seems to not have experienced any significant impact on neither productivity nor export, not even three years after they started to offshore.

  • 75.
    Bandick, Roger
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    The Effect of Offshoring on Productivity and Export Growth2015Conference paper (Other academic)
  • 76.
    Bardosson, Jennie
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Ingebrand, Linnea
    Linköping University, Department of Management and Engineering, Economics.
    Växelkursens betydelse för utrikeshandel: En jämförelse mellan ett EMU-land och Sverige2011Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Uppsatsens syfte är att analysera den nominella växelkursens påverkan på utrikeshandel och göra en jämförande studie mellan ett EU-land (Sverige) och ett EMU-land (Tyskland). Fokus för denna undersökning kommer att ligga på vad som skedde med utrikeshandeln under de två ekonomiska kriserna på 2000-talet, men även ge en generell bild för utrikeshandeln under hela perioden 2000-2010. Uppsatsen avser att besvara om det finns några skillnader i hur ländernas handel påverkades under kriserna med avseende på växelkursen, samt om handelssammansättningen av handelspartners förändrats. Detta kommer undersökas för att se hur Sveriges utrikeshandel påverkats av att stå utanför EMU.

    Resultaten visar på att den nominella växelkursen inte haft stor betydelse för utrikeshandeln under den undersökta tidsperioden. Både export och import har ökat under perioden, men det går inte att finna någon direkt koppling till växelkursförändringar. Under de båda kriserna har både import och export tenderat att förändras mer än växelkursen. Vidare har Sveriges handelspartners inte ändrats nämnvärt. Därför kan vi anta att Sveriges utrikeshandel inte påverkats av att stå utanför EMU med avseende på den nominella växelkursen.

     

  • 77.
    Barikore, Martine
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Svensson, Olof
    Linköping University, Department of Management and Engineering, Economics.
    Solvens II, en lag att tämja dem–En transaktionskostnadsanalys av effekten på konkurrensförutsättningarna på Sveriges försäkringsmarknad2016Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    Background: In January 2016 the Solvency II-directive came into force and thereby changedthe institutional prerequisites to conduct business in the Swedish insurance market. TheSolvency II-directive imposes higher capital requirements, more rigorous intern riskmanagement, increased supervision and higher demands on information from insurancecompanies. The impact is ambiguous and the Swedish government and financial supervisoryauthority has highlighted a lack of certainty considering the effect on the competitiveconditions in the market. It is possible that the ability to adapt to the new regulations variesamong different legal forms and business sizes.Aim: to use the perspective of institutional economics to analyse how the Solvency IIdirective’snew requirements considering capital, governance, reporting and supervision willaffect the competitive conditions for insurance companies in the Swedish insurance market inregard to their legal form and business size.Completion: Initially the framework of the study is presented comprising the contractingproblems in the insurance business and a brief presentation of the Solvency II-directive,focusing on the impact assessments of the Swedish FSA and Ministry of Finance. Further, thepaper conducted a qualitative interview research, as the Solvency II-directive is relatively newand hence its specific quantifiable effects may not yet be identified. To analyse the effect ofthe Solvency II-directive on transactions costs the empirical data is analysed usingtransactions cost economics.Conclusion: The competitive abilities are dependent on the insurance companies legal formsas well as business sizes. The effect has positive economics of scale and hence thecompetitive conditions for smaller companies are weakened. Legal form matters throughdiffering abilities to raise capital and through the relationship between owners andpolicyholders.

  • 78.
    Bekiros, Stelios
    et al.
    European University of Institute, Italy; IPAG Business Sch, France.
    Boubaker, Sabri
    Champagne School Management, France.
    Nguyen, Duc Khuong
    IPAG Business Sch, 184 Blvd St Germain, Paris, France; Vietnam Natl Univ, Int Sch, Hanoi, Vietnam.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Black swan events and safe havens: The role of gold in globally integrated emerging markets2017In: Journal of International Money and Finance, ISSN 0261-5606, E-ISSN 1873-0639, Vol. 73, p. 317-334Article in journal (Refereed)
    Abstract [en]

    There is evidence to suggest that gold acts as both a hedge and a safe haven for equity markets over recent years, and particularly during crises periods. Our work extends the recent literature on hedging and diversification roles of gold by analyzing its interaction with the stock markets of the leading emerging economies, the BRICS. While they generally exhibit a high growth rate, these economies still experience a pronounced vulnerability to external shocks, particularly to commodity price fluctuations. Using a multi-scale wavelet approach and a GARCH-based copula methodology, we mainly show evidence of: (i) the time-scale co-evolvement patterns between BRICS stock markets and gold market, with some profound regions of concentrated extreme variations; and (ii) a strong time-varying asymmetric dependence structure between those markets. These findings are essential for risk diversification and portfolio hedging strategies among the investigated markets. (C) 2017 Elsevier Ltd. All rights reserved.

  • 79.
    Bekiros, Stelios
    et al.
    European University of Institute, Italy; IPAG Business Sch, France.
    Jlassi, Mouna
    Tilburg University, Netherlands.
    Lucey, Brian
    Trinity Coll Dublin, Ireland; Trinity Coll Dublin, Ireland.
    Naoui, Name
    University of Manouba, Tunisia; University of Manouba, Tunisia.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Herding behavior, market sentiment and volatility: Will the bubble resume?2017In: The North American journal of economics and finance, ISSN 1062-9408, E-ISSN 1879-0860, Vol. 42, p. 107-131Article in journal (Refereed)
    Abstract [en]

    This paper aims to investigate herding behavior and its impact on volatility under uncertainty. We apply a cross-sectional absolute deviation approach as well as Quantile Regression methods to capture the herding behavior in daily and monthly frequencies in US markets over several time-periods including the global financial crisis. In a novel attempt we modify the empirical CSAD herding modeling by introducing implied volatility as a measure of agent risk expectations. Our findings indicate that herding tends to be intense under extreme market conditions, as depicted in the upper high quantile range of the conditional distribution of returns. During crisis periods herding is observed at the beginning of the crisis and becomes insignificant towards the end. The US market herding behavior exhibits time-varying dynamic trading pattern that can be attributed e.g., to overconfidence or excessive "flight to quality" features, mostly observed in the aftermath of the global financial crisis. Moreover, implied volatility reveals asymmetric patterns and plays a key role in enforcing irrational behavior. (C) 2017 Published by Elsevier Inc.

  • 80.
    Bekiros, Stelios
    et al.
    AUEB, Greece.
    Jlassi, Mouna
    Tilburg Univ, Netherlands.
    Naoui, Kamel
    Univ Manouba, Tunisia.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Risk perception in financial markets: On the flip side2018In: International Review of Financial Analysis, ISSN 1057-5219, E-ISSN 1873-8079, Vol. 57, p. 184-206Article in journal (Refereed)
    Abstract [en]

    We propose an alternative approach to capture the asymmetric risk-return relationship in financial markets using affective cognitive analysis. Implied volatility is employed as a robust gauge of risk perception. Markets exhibit a dramatic increase in fear sentiment when extreme upper-quantile losses hit investors while conditional positive returns fuel exuberance. However, an inverse response is observed in Asian markets due to normative societal phenomena, such as herding. A cognitive paradigm provides with a better interpretation of contagion than classical leverage-feedback theories as risk perception evolves dynamically over time. Overall, the fear of losses is not the flip side of gains exuberance.

  • 81.
    Bekiros, Stelios
    et al.
    European University of Institute, Italy; IPAG Business Sch, France.
    Jlassi, Mouna
    Tilburg University, Netherlands.
    Naoui, Kamel
    University of Manouba, Tunisia; University of Manouba, Tunisia.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    The asymmetric relationship between returns and implied volatility: Evidence from global stock markets2017In: Journal of Financial Stability, ISSN 1572-3089, E-ISSN 1878-0962, Vol. 30, p. 156-174Article in journal (Refereed)
    Abstract [en]

    We investigate the asymmetric relationship between returns and implied volatility for 20 developed and emerging international markets. In particular we examine how the sign and size of return innovations affect the expectations of daily changes in volatility. Our empirical findings indicate that the conditional contemporaneous return-volatility relationship varies not only based on the sign of the expected returns but also upon their magnitude, according to recent results from the behavioral finance literature. We find evidence of an asymmetric and reverse return-volatility relationship in many advanced, Asian, LatinAmerican, European and South African markets. We show that the US market displays the highest reaction to price falls, Asian markets present the lowest sensitivity to volatility expectations, while the Euro area is characterized by a homogeneous response both in terms of direction and impact. These results may be safely attributed to cultural and societal characteristics. An extensive quantile regression analysis demonstrates that the detected asymmetric pattern varies particularly across the extreme distribution tails i.e., in the highest/lowest quantile ranges. Indeed, the classical feedback and leverage hypotheses appear not plausible, whilst behavioral theories emerge as the new paradigm in real-world applications. (C) 2017 Elsevier B.V. All rights reserved.

  • 82.
    Bekiros, Stelios
    et al.
    European University of Institute, Italy; IPAG Business Sch, France.
    Muzaffar, Ahmed T.
    University of Western Sydney, Australia.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Vidal-Garcia, Javier
    University of Complutense Madrid, Spain; University of Valladolid, Spain.
    Money supply and infllation dynamics in the Asia-Pacific economies: a time-frequency approach2017In: Studies in Nonlinear Dynamics and Econometrics, ISSN 1081-1826, E-ISSN 1558-3708, Vol. 21, no 3, article id 20160051Article in journal (Refereed)
    Abstract [en]

    We examine the relationship between money supply growth and inflation in 3 Asian Economies which are India, Malaysia and Japan using a time-frequency approach. The application of a unified multi-scale analysis allows us to provide a continuous assessment of the link between money supply growth and inflation, unlike most of the existing literature studying this relationship. We also employ a bivariate frequency-domain causality test to determine the nature and direction of interdependence between money supply growth and inflation dynamics. Our findings provide a better understanding of their lead-lag linkages and causal relationship in the selected countries of the Asia-Pacific region.

  • 83.
    Bekiros, Stelios
    et al.
    Department of Economics, European University Institute, Florence, Italy; Department of Acc. & Finance, Athens University of Economics and Business, Athens, Greece.
    Nguyen, Duc Khuong
    IPAG Lab, IPAG Business School, Paris, France; School of Public and Environmental Affairs, Indiana University, Bloomington, United States, USA.
    Sandoval Junior, Leonidas
    Insper Instituto de Ensino e Pesquisa, Sao Paulo, Brazil.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Information diffusion, cluster formation and entropy-based network dynamics in equity and commodity markets2017In: European Journal of Operational Research, ISSN 0377-2217, E-ISSN 1872-6860, Vol. 256, no 3, p. 945-961Article in journal (Refereed)
    Abstract [en]

    This paper investigates the dynamic causal linkages among U.S. equity and commodity futures markets via the utilization of complex network theory. We make use of rolling estimations of extended matrices and time-varying network topologies to reveal the temporal dimension of correlation and entropy relationships. A simulation analysis using randomized time series is also implemented to assess the impact of de-noising on the data dependence structure. We mainly show evidence of emphasized disparity of correlation and entropy-based centrality measurements for all markets between pre- and post-crisis periods. Our results enable the robust mapping of network influences and contagion effects while incorporating agent expectations.

  • 84.
    Bekiros, Stelios
    et al.
    IPAG Business School, Paris, France.
    Nguyen, Duc Khuong
    IPAG Business School, France .
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Sjö, Bo
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    BUSINESS CYCLE (DE)SYNCHRONIZATION IN THE AFTERMATH OF THE GLOBAL FINANCIAL CRISIS: IMPLICATIONS FOR THE EURO AREA2015In: Studies in Nonlinear Dynamics and Econometrics, ISSN 1081-1826, E-ISSN 1558-3708, Vol. 19, no 5, p. 609-624Article in journal (Refereed)
    Abstract [en]

    The introduction of Euro currency was a game-changing event intended to induce convergence of Eurozone business cycles on the basis of greater monetary and fiscal integration. The benefit of participating into a common currency area exceeds the cost of losing autonomy in national monetary policy only in case of cycle co-movement. However, synchronization was put back mainly due to country-specific differences and asymmetries in terms of trade and fiscal policies that became profound at the outset of the global financial crisis. As opposed to previous studies that are mostly based on linear correlation or causality modeling, we utilize the cross-wavelet coherence measure to detect and identify the scale-dependent time-varying (de)synchronization effects amongst Eurozone and the broad Euro area business cycles before and after the financial crisis. Our results suggest that the  inforcement of an active monetary policy by the ECB during crisis periods could provide an effective stabilization instrument for the entire Euro area. However, as dynamic patterns in the lead-lag relationships of the European economies are revealed, (de)synchronization varies across different frequency bands and time horizons.

  • 85.
    Bekiros, Stelios
    et al.
    European University Institute, Florence Italy,Paris France, Rimini Italy.
    Nguyen, Duc Khuong
    IPAG Business School, Paris, France.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Sjö, Bo
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    On the time scale behavior of equity-commodity links: Implications for portfolio management2016In: Journal of international financial markets, institutions, and money, ISSN 1042-4431, E-ISSN 1873-0612, Vol. 41, p. 30-46Article in journal (Refereed)
    Abstract [en]

    We investigate the time-scale relationships between US equity and commodity markets. The empirical evidence from the risk-return profitability analysis based on the wavelet coherence measure shows that equity and commodity markets exhibit time-varying comovement patterns and behave differently across investment horizons. Moreover, we find evidence of time-frequency causality between the two investigated markets. Our results can have important implications for optimal asset allocation and portfolio diversification.

  • 86.
    Bekiros, Stelios
    et al.
    Athens Univ Econ and Business, Greece; European Univ Inst, Italy.
    Nilavongse, Rachatar
    Natl Inst Econ Res, Sweden.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Bank capital shocks and countercyclical requirements: Implications for banking stability and welfare2018In: Journal of Economic Dynamics and Control, ISSN 0165-1889, E-ISSN 1879-1743, Vol. 93, p. 315-331Article in journal (Refereed)
    Abstract [en]

    This paper incorporates anticipated and unanticipated shocks to bank capital into a DSGE model with a banking sector. We apply this model to study Basel III countercyclical capital requirements and their implications for banking stability and household welfare. We introduce three different countercyclical capital rules. The first countercyclical capital rule responds to credit to output ratio. The second countercyclical rule reacts to deviations of credit to its steady state, and the third rule reacts to credit growth. The second rule proves to be the most effective tool in dampening credit supply, housing demand and household debt as well as in enhancing the banking stability by ensuring that banks have higher bank capital and capital to asset ratio. After conducting a welfare analysis we find that the second rule outranks the other ones followed by the first rule, the baseline and the third rule respectively in terms of welfare accumulation. (C) 2018 Elsevier B.V. All rights reserved.

  • 87.
    Bekiros, Stelios
    et al.
    Athens University of Economics and Business, Greece; European University Institute, Italy.
    Sjö, Bo
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Sweeney, Richard J.
    McDonough School of Business, Georgetown University, USA.
    Pitfalls in Cross-Section Studies with integrated Regressors:  Survey and New Developments2018In: Journal of economic surveys (Print), ISSN 0950-0804, E-ISSN 1467-6419, Vol. 32, no 4, p. 1045-1073Article in journal (Refereed)
    Abstract [en]

    In cross-section studies, if the dependent variable is I(0) but the regressor is I(1), the true slope must be zero in the resulting "unbalanced regression." A spuriously significant relationship may be found in large cross sections, however, if the integrated regressor is related to a stationary variable that enters the DGP but is omitted from the regression. The solution is to search for the related stationary variable, in some cases the first difference of the integrated regressor, in other cases a categorical variable that can take on limited number of values which depend on the integrated variable. We present an extensive survey, new developments and applications in finance.

    The full text will be freely available from 2020-03-08 00:33
  • 88.
    Bekiros, Stelios
    et al.
    Department Econ, Italy; IPAG Business Sch, France.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Extreme Dependence under Uncertainty: an application to Stock, Currency and Oil Markets2017In: International Review of Finance, ISSN 1369-412X, E-ISSN 1468-2443, Vol. 17, no 1, p. 155-162Article in journal (Refereed)
    Abstract [en]

    We explore the impact of uncertainty on financial markets in the aftermath of the global financial crisis. In particular, we investigate the temporal dynamics of the dependence structure of stock, currency and oil markets in the United States using a nonparametric copula approach. Policy uncertainty is modeled via the EPU index of Baker et al. (2013). We find evidence of a pronounced extreme tail asymmetric interrelationship between the crude oil market and economic uncertainty.

  • 89.
    Bengtsson, Sofia
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Båvall, Tobias
    Linköping University, Department of Management and Engineering, Economics.
    Is Harsher Punishment the Solution?: A Cost-benefit Analysis of a Swedish Crime Policy2019Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    In this thesis we analyse the economic effects of a policy proposal in Sweden, which implies a removal of the sentence reduction for 18- to 20-year-old offenders. We use a cost-benefit analysis (CBA) to systematically assess its effects. Our results indicate that the policy proposal is most likely beneficial to society, a conclusion which is strengthened by our sensitivity analysis. Our CBA builds upon Becker’s (1968) economic model of crime, and the extensive literature it has inspired which explores the effects of harsher punishment on crime. In order to assess how a harsher sentencing regime affects society, we use crime-punishment elasticities and costs of crime based on previous studies and own estimations. Our main contribution to the existing literature is twofold. First, we provide an economic dimension to a current political issue. Second, we employ a CBA to a research area in Sweden in which the method has been used sparingly. Knowing how an increase in punishment affects crime rates is of great importance for policy making. Hence, we encourage further analysis in this area, especially in Sweden.

  • 90.
    Berger, Alexandra
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Svehn, Magdalena
    Linköping University, Department of Management and Engineering, Economics.
    Lyx eller nödvändigt?: Konsumtionsbeteenden och faktorer bakom ett köp2016Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Denna uppsats syftar till att studera och analysera faktorer som ligger till grund vid konsumtion av varor som kan vara svåra att kategorisera som antingen nödvändighetsvaror eller lyxvaror. Uppsatsen har en teoretisk utgångspunkt som kompletteras av primärdata från en enkätundersökning. Enkätundersökningen berör främst konsumtion utifrån två specifika varor, en surfplatta och en armbandsklocka. Fokus ligger på att utreda vilka faktorer som är viktiga vid ett köpbeslut för dessa varor, hur de svarande kategoriserar varorna samt om det finns någon skillnad i hur individer i olika åldrar kategoriserar dem.

    Undersökningen visade att de svarande ansåg att pris, funktionalitet, användbarhet och tillgänglighet var de fyra viktigaste faktorerna vid hypotetiska köp av både surfplattan och armbandsklockan. Av gruppen svarande kategoriserade de flesta surfplattan som en nödvändig vara. För armbandsklockan var resultatet annorlunda där nära hälften kategoriserade den som nödvändig och andra hälften som lyxig. Det fanns vidare ingen direkt skillnad när en jämförelse mellan kategoriseringen av varorna och de olika åldersgrupperna gjordes. Arbetet med denna uppsats har även i sin helhet gett en inblick i hur komplext det kan vara att försöka förutse individers konsumtionsbeteenden och konsumtionsmönster, detta eftersom de inte alltid agerar som planerat och ibland fattar ogenomtänkta köpbeslut.

  • 91.
    Berger, Theo
    et al.
    Department of Business Administration, University of Bremen, Germany.
    Uddin, Gazi Salah
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    On the dynamic dependence between equity markets, commodity futures and economic uncertainty indexes2016In: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 56, p. 374-383Article in journal (Refereed)
    Abstract [en]

    This paper provides a thorough analysis on multiscale dependence schemes between equity markets, commodity futures and uncertainty indexes. Based on decomposed return series, we provide an exhaustive survey on time varying dependence, before and after the outbreak of financial crisis. Although daily returns of equity markets and commodity futures are described by weak dependence, our results indicate a stronger dependence between the long-run trends of both asset classes.

  • 92.
    Berggren, Christian
    et al.
    Linköping University, The Institute of Technology. Linköping University, Department of Management and Engineering, Project management, Innovations and Entrepreneurship .
    Falkemark, G
    Finnveden, G
    Jansson, Jan Owen
    Linköping University, Faculty of Arts and Sciences. Linköping University, Department of Management and Engineering, Economics .
    Murray, R
    Hellre nytt avstamp för järnväg2008In: Svenska dagbladet, ISSN 1101-2412, Vol. 2008-05-31Article in journal (Other (popular science, discussion, etc.))
  • 93.
    Berggren, Christian
    et al.
    Linköping University, The Institute of Technology. Linköping University, Department of Management and Engineering, Project management, Innovations and Entrepreneurship .
    Jansson, Jan Owen
    Linköping University, Faculty of Arts and Sciences. Linköping University, Department of Management and Engineering, Economics .
    Laestadius, Staffan
    Fördubbla trängselskatten och slopa kringfartsled2008In: Dagens nyheter, ISSN 1101-2447, Vol. 2008-01-19Article in journal (Other (popular science, discussion, etc.))
  • 94.
    Berglund, Gabriella
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Porthén, Petra
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Access to adequate housing - a way out of poverty?: A minor field study of the construction of emergency houses in Peru.2012Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    Background: The lack of access to adequate housing is a major problem in many developing countries. One of the countries where the housing deficit is a big problem is Peru. The housing deficit in the country can be estimated to more than one million; a number that represents almost 15% of the country’s households. Un Techo Para Mi País (UTPMP) strives to improve this difficult housing situation by constructing emergency houses in the human settlements and thereby improving the situation for the people living in extreme poverty in Peru.

    Aim: The purpose of this study is to investigate if the construction of emergency houses could be a means of poverty reduction in Peru. The impact of improved housing conditions on a household’s standard of living and economic situation is evaluated, as well as the results of UTPMP’s activities.  

    Completion: The collection of secondary data took place in Sweden, while the primary data was  collected  during  a  two  months’  minor  field  study  in  Lima,  Peru.  Interviews  with  households benefited with an emergency house through UTPMP were conducted and observations were made by participating in UTPMP’s activities. 

    Conclusion: According to the results of our study, the access to adequate housing has had a positive effect on the household’s standard of living, but has left the economic situation unchanged. The type of action taken by UTPMP to alleviate poverty should be considered as an appropriate approach and the construction of emergency houses as a means of poverty reduction in Lima. 

  • 95.
    Berglund, Malin
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Sjöberg, Rasmus
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    När är trängselskatt samhällsekonomiskt lönsamt?2015Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [sv]

    Det sker en ökad trafik i Sverige, vilket medför konsekvenser som t.ex. ökad trängsel på vägarna samt utsläpp som påverkar miljön. Dessa är exempel på negativa externa effekter, vilka kan motverkas genom en optimal prissättning av gatuutrymme. Sverige har olika miljömål, för att uppnå dessa mål är eventuellt förändringar i motortrafik ett tillvägagångssätt. Utsläpp i städer är ett hälsoproblem, för att kunna förbättra hälsan och förändra trafikmönster behövs det att någon/några åtgärder genomförs. Ett exempel på en sådan åtgärd som har för avsikt att motverka trafik i stadskärnor samt bidra till renare luft är trängselskatt.Uppsatsens syfte är att analysera och undersöka vilka faktorer som krävs för att ett införande av trängselskatt ska vara samhällsekonomiskt lönsamt i en stad. För att kunna undersöka detta har vi valt att genomföra samhällsekonomiska lönsamhetskalkyler för trängselskatt i Malmö, Uppsala och Linköping.Med hjälp av en lönsamhetskalkyl och teorier bakom optimal prissättning genomför vi undersökningar för att besvara huruvida det är samhällsekonomiskt lönsamhet med trängselskatt. Vi använder av Stockholmsförsöket som en utgångspunkt och kompletterar med uppgifter från trafikverket.För att vi ska hålla oss inom ramen för en kandidatuppsats har vissa avgränsningar behövt göras. Vi har valt att avgränsa oss till att studera Sverige. För att genomföra studien har vi använt oss av Stockholm och Göteborg, då de infört trängselskatt. Ännu en avgränsning vi gör är att endast undersöka direkta effekter inom transportsektorn och inte ta hänsyn till t.ex. turismens påverkan vid ett införande av trängselskatt.Vi drar slutsatsen utifrån våra kalkyler att det ej verkar vara samhällsekonomiskt lönsamt att införa trängselskatt i Malmö, Uppsala eller Linköping. Våra studier tyder på att en specifik faktor påverkar det samhällsekonomiska utfallet. Denna faktor verkar vara befolkningsmängden i städerna.

  • 96.
    Berglund, Malin
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Sjöberg, Rasmus
    Linköping University, Department of Management and Engineering, Economics.
    Vem väljer att konsumeraekologiska produkter i Sverige?2016Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
    Abstract [en]

    The consumer can choose between different products at the market of groceries. These choicescan affect the human being and society in different ways, because products do not have thesame nutritional value and they may not have been produced in the same way. Therefore, it isimportant for the consumer to have knowledge about brands like Fairtrade and KRAV. InSweden, the products that are marketed as healthy and environmentally friendly alternatives arecalled ecological products. In the last 5 years, the market of ecological products has increased,because the market shows that the demand of ecological alternatives has increased. For thisreason, we think it is interesting to analyze who the typical consumer of ecological products isand why.The purpose of this study is to analyze which factors that affects the consumer’s choice ofecological products. To analyze the different factors the study is using quantitative methods.The data will be collected from surveys and then analyzed by using econometrical techniques,and the results will be analyzed and examined using economic theories. The survey is beingperformed on the Swedish market, where the municipalities Norrköping and Ockelbo has beenchosen. Norrköping has a substantially larger population than Ockelbo, which we consider is abenefit for the study.The results of the study shows us that education, gender, perceived knowledge about ecologicalbrands, experienced influence from media, a Nordic heritage and municipality are significantvariables to explain ecological consumption. The results also indicate the two most importantarguments for consuming ecological products are those of health and environmentalperspectives.

  • 97.
    Bergström Koustas, Oskar
    et al.
    Linköping University, Department of Management and Engineering, Economics.
    Burns, Lucas
    Linköping University, Department of Management and Engineering, Economics.
    The Euro's Effect on Foreign Direct Investment: An econometric study of the euro’s effect on inward foreign direct investment2019Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [en]

    The aim of this thesis is to analyse if the euro has had any significant effect on the inflow of foreign direct investments. Our purpose is answered by developing an econometric model with inflow of foreign direct investments as the dependent variable. The model is estimated with the ordinary least squares method and panel data from ten different countries, five which have adopted the euro as their currency and five which have not. The data collected concerns the timeframe from 1994 to 2007.

    The theoretical background is retrieved mainly from journal articles that have conducted similar research of how a common currency has affected foreign direct investments. We use these studies as a base for developing our regression model and also as a foundation for our analysis.

    The results from this thesis show that the euro has had a large significant effect on foreign direct investments which we see by analysing the interaction variable in our regression. Furthermore, the results show that trade openness and GDP have the largest significant effect on FDI, meanwhile unit labour cost and exchange rate volatility had no significant effect at all. We conclude that the euro has a positive significant effect on inward foreign direct investment. Although the model suggests that having adopted the euro in 1999 would yield a 58.4 per cent increase in inward FDI compared to countries that kept their own currency, we are uncertain of the effect’s actual magnitude due to concern that we read some effects from the single market in the variable we use to estimate the euro’s effect.

  • 98.
    Besterman, Andreas
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Tobias, Larsson
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Indexerade beräkningsenheter: Robert Shillers indexeringsparadox2015Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [en]

    Background: Several scientists have, over the years, identified problems related to inflation and contributed with suggestions to solutions. The term Money Illusion is a well-known phenomenon that explains difficulties of separating nominal value from real value. The central bank of Sweden has decided that inflation should be low but positive and the inflation target is set to two percent. Robert Shiller presents Indexed Units of Account as a solution to problems related to inflation depending on knowledge and behavior. He defines an Indexed Unit of Account that is meant to operate in parallel to the local currency.

    Aim: The aim is to discuss the prerequisites for an implementation of new indexed units of account, which works in tandem with the currency, in Sweden as well as critically examine the theories of indexed units of account made by Robert Shiller.

    Completion: The thesis is qualitative in nature and is based on semi-structured interviews with people in banking, insurance and a senior lecturer in economics at the University of Linköping. The interviews have assumed the same interview template. Collected interview data, together with theories of inflation, indexing and transaction costs has formed the basis for the analysis.

    Conclusion: The conclusion in the paper is that the low inflation prevailing in Sweden is not seen as a big enough problem to warrant a more widespread use of indexation by individuals. Robert Shiller has also underestimated the costs associated with indexing, in the form of transaction costs, which most likely means that his advocacy of indexation is a paradox. 

  • 99.
    Bilén, David
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Österlund, Jacob
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Samhälleliga tidspreferenser: En stated preference-studie med ansatsen att undersöka individers renatidspreferenser2015Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
    Abstract [en]

    Background: To give guidance for societal policy decisions on how to value future effectscompared to present, economists have used stated preference methodology to measureindividuals’ societal time preferences. The results have produced a great variety in the size ofindividuals’ time preferences, but have in general at least concluded that individuals valuefuture effects less then present. Shane Frederick performed in 1999 what he called a “test ofrobustness” of the methodology used in previous studies. Instead of just offering individualsto choose from an outcome today towards an outcome x years from now, he also offeredrespondents outcomes sequentially spread out across time. The results contradicted those ofprevious studies. For example 80% of the respondents preferred to save 300 lives across 3generations instead of 300 in their own – which implied negative time preferences! Nofurther follow up studies have been performed.Objective: Investigate individuals’ societal time preferences, when they are offeredsequential outcomes over time.Methodology: Two questionnaires where handed out at Linköpings university. Therespondents where offered different sequential outcomes over time for saving lives and whenpublic investments should occur, in as well an intra- as an intergenerational perspective.Conclusion: Our findings do not indicate that a majority of the individuals value savingfuture lives less then present lives, or that they value future public investments less thenfuture investments. Neither do they indicate that individuals’ societal time preferences onlyincorporate the absolute time horizontal aspect. In both an intra- and an intergenerationalperspective the largest fraction of the individuals preferred an equal distribution over time. Inan intragenerational perspective, where we offered individuals different sequentialdistributions, the individuals choice where affected by the relative distribution over time. Allfindings where present both for saving lives and public investments.

  • 100.
    Birkeland, Fredrik
    et al.
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Rosander, Oscar
    Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
    Statistisk eller preferensbaserad diskriminering?: En studie om diskriminering baserad på kön och etnicitet i förhållande till socialt kapital2015Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
    Abstract [sv]

    Diskriminering leder till en samhällsekonomisk ineffektivitet och tar sig uttryck både på individ- och samhällsnivå. Tidigare forskning har kartlagt och påvisat förekomst av etnisk diskriminering och könsdiskriminering på flera marknader i Sverige, men det har inte kunnat klargöras om diskrimineringen är statistisk eller preferensbaserad. Med kunskap om diskrimineringens karaktär kan beslutsfattare skapa effektivare policyinstrument för att motverka den diskriminering som visats förekomma i det svenska samhället. Ett problem på forskningsområdet är att det saknas empiriska metoder för att kunna särskilja diskrimineringen mellan olika förklaringsmodeller.

    Syftet med studien är att genomföra ett vinjettexperiment för att kunna särskilja den statistiska och preferensbaserade diskrimineringsteorin för diskrimineringsgrunderna kön och etnicitet. Studien syftar till att undersöka diskrimineringen i en svensk kontext i sammanhang som involverar tillit och generositet. Med hjälp av ett vinjettexperiment samlas primärdata in från en webbenkät. Vinjettexperimentet syftar till att utsätta respondenten för två hypotetiska scenarier som fokuserar på socialt kapital; ett som mäter generositet och ett som mäter tillit. Scenarierna konstrueras så att respondenten möter en okänd person vars etnicitet och kön varierar på ett randomiserat sätt. Genom att studera skillnader i respondenternas svar kan eventuell diskriminering påvisas och diskrimineringens karaktär kan undersökas.

    Studien visar att det förekommer både etnisk diskriminering och könsdiskriminering när det gäller respondenternas tilltro och generositet mot främmande personer. Våra resultat visar att den etniska diskrimineringen är mer omfattande än könsdiskrimineringen. Resultatet ger ett samtidigt stöd för den statistiska och preferensbaserade diskrimineringsteorin, vilket indikerar att policyinstrument bör konstrueras för att bemöta både den ofullständiga information som den statistiska diskrimineringen grundar sig på samt den animositet som den preferensbaserade diskrimineringen grundar sig på.

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