The study aims to explore the relationship between European financial banks' ESG pillars and their contribution to systemic risk, with a focus on the Eurozone banking industry. Utilizing the €ΔCoVaR metric to capture systemic risk, we analyzed a sample of 35 publicly listed banks across 12 European Union countries for the period of 2019 to 2023. The methodology consists of three steps. The fir

This study aims to investigate the market performance of defence stocks, with a focus on geopolitical risk. The recent developments related to geopolitical risk, the potential changes in the market sentiment towards defence firms in connection to these and the little examination of the relationship between defence stock market performance and geopolitical risk open the possibility for contributing

This paper explores the relationship between geographical diversification and derivative hedging, as well as their impact on corporate value. We employed multivariate regression analysis using a sample of 211 publicly listed U.S. companies on the S&P 500 index from 2019 to 2023 to examine this relationship. Our focus is foreign exchange hedging and the interaction between hedging and firm

The fundamental principle of investing, applicable at both systematic and individual levels, is the art of balancing the portfolio between expected returns and acceptable risk exposure. Risk management involves predicting the direction of the underlying asset’s movement and taking appropriate actions accordingly. Traditionally, statistical models such as GARCH have been used to achieve this object

The primary goal of this thesis is to understand the role of cornerstone investors in the long-run performance and survival of IPO firms issued during 2014-2023 in the Swedish market. While the phenomenon of cornerstone investors is relatively new, the trend has been increasing exponentially globally. We use several dimensions of cornerstone metrics to explain the dynamics of IPO performance and s

Title: Home is wherever your private equity firm takes you - A quantitative analysis comparing cross-border and domestic* transaction multiples in PE acquisitions of Nordic companies Seminar date: 30 May 2024 Course: NEKN02, Master Essay – Finance Programme, 15 ECTS Authors: Clarissa Nowak, Sofia Sjöholm Advisor: Jens Forssbaeck Keywords: Private Equity, Buyouts, Cross-Border, Valuation, Nord

Following the adoption of the "double carbon" policy in China, the concept of Environmental, Social, and Governance (ESG) has gained considerable attention within the Chinese market, significantly impacting investor decision-making. This thesis examines the impacts of ESG principles on the overall financial performance of investment portfolios. Through the classification of Chinese A-lis

Climate transition risk pricing in capital markets has emerged as a critical area of research. Using a comprehensive dataset of syndicated loans spanning the years 2010 to 2020, combined with greenhouse gas emission and financial data for borrowers and lenders from three different sources, we conduct an extensive cross-sectional regression analysis to assess how greenhouse gas emissions are priced

This thesis investigates the relationship between the terms of rights issues and the subsequent stock price development in the short, medium, and long term within the Nordic markets. Focusing on rights issues conducted by companies in Sweden, Norway, Denmark, and Finland from 2014 to 2024, the study employs an event study methodology to analyze market reactions. Key variables examined include

The increasing integration of Bitcoin with traditional stock markets makes understanding its impact on stock market volatility crucial. This paper constructs a GARCH-MIDAS model using data from the Shanghai Composite Index, the S&P 500 Index, and Bitcoin to investigate Bitcoin's influence under different regulatory environments. The results show that Bitcoin has a significant negative rela

This thesis investigates the performance dynamics of serial acquirers in the Swedish market, specifically focusing on their ability to realize cost synergies over time. Through an empirical analysis of Swedish firms engaging in mergers and acquisitions (M&A) between 2010 and 2019, we aimed to determine whether serial acquirers exhibit improved synergy realization in subsequent acquisitions com

This study examines the relationship between the German yield curve and stock market performance in Germany, the Netherlands, and Switzerland by extending the Fama-French Five Factor Model with Carhart's Momentum factor and a yield curve factor. Three hypotheses are tested: the positive relationship between changes in the yield curve and excess stock returns, the lagged effect of yield curve c

For a generalized (or non-central) camera model, the minimal problem for two views of six points has efficient solvers. However, minimal problems of three views with four points and three views of six lines have not yet been explored and solved, despite the efforts from the computer vision community. This paper develops the formulations of these two minimal problems and shows how state-of-the-art

A multi-edge spinal group is a subgroup of the automorphism group of a regular p-adic rooted tree, generated by one rooted automorphism and a finite number of directed automorphisms sharing a common directing path. We prove that torsion multi-edge spinal groups do not have maximal subgroups of infinite index. This generalizes a result of Pervova for GGS-groups.

Background: People with intellectual disabilities (ID) experience barriers to health care, which may have been particularly relevant during the Covid-19 pandemic.Methods: In this register-based study, we identified all people living in Skåne (southernmost region of Sweden) on January 1st, 2014. People with ID (F7) or Down Syndrome (Q90), or service and support for people with ID or autism spectrum

When ultrashort pulses pass through common optical elements such as gratings and thick lenses, they can pick up spatio-temporal couplings (STCs) - nonseparable chromatic aberrations. The main cause of this phenomenon is the inherent feature of ultrashort pulses—their broadband spectrum. STCs increase pulse duration and reduce the intensity at the focus, which will be detrimental for many applicati

The MAX-II storage ring is a third generation synchrotron light source recently commissioned in Lund, Sweden. A description of the ring is presented along with an evaluation of the performance during commissioning. The status and most recent results of the early stages of operation are also presented.

We use Schlage-Puchta's concept of p-deficiency and Lackenby's property of p-largeness to show that a group having a finite presentation with p-deficiency greater than 1 is large, which implies that Schlage-Puchta's infinite finitely generated p-groups are not finitely presented. We also show that for all primes p at least 7, any group having a presentation of p-deficiency greater than 1 is GolodS