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Bid--ask spreads in interest rate swap markets reflect a dealer’s compensation for transaction costs, hedging frictions, and residual risk. This thesis develops a utility-based pricing framework for modeling bid--ask spreads of EUR interest rate swap portfolios when hedged using liquid exchange-traded futures. German government bond futures, specifically the short-, medium-, and long-maturity Scha
Volcanic crater lakes are important freshwater systems, but their hydrological functioning is often difficult to understand due to limited monitoring data and uncertainty in groundwater contribution. Río Cuarto Lake, located in the north part of Costa Rica, is a volcanic crater lake where the sources and movement of water are not fully known. This master’s thesis aimed to describe the lake’s morph
Digital communication tools are increasingly the primary medium of internal organizational interaction. Understanding how employees' experiences with these tools are tied with their perceptions of the communication climate has therefore become a central concern in strategic communication research. This study examines the associations between digital communication tool experiences, general tech
Purpose: The purpose of this study is to examine how managers at Cloetta use and adapt performance measurement practices to support decision-making under conditions of prolonged uncertainty, and how this managerial use relates to organizational resilience. Methodology: The study adopts a qualitative single-case study approach. Empirical material was collected through semi-structured interviews wi
This thesis examines whether the institutional monetary policy regime influences corporate risk-taking by comparing publicly listed firms operating under the European Central Bank (ECB) with firms in European countries that retain monetary sovereignty. While previous literature has established that monetary policy affects corporate investment and risk-taking through changes in financing conditions
Purpose: Explore how different ownership logics influence the strategic investment decision-making (SIDM) process in investment companies by comparing institutional investors, private equity firms, and family-owned investment companies. Methodology: Qualitative and comparative research design based on interviews with respondents from eight investment companies. The empirical findings were analyse
Abstract Seminar date: 2026-06-04 Course: BUSN79 – Degree Project in Accounting and Finance Authors: Carl Ardbo and David Gadestam Ferrarro Advisor/Examiner: Reda Moursli & Diem Nguyen Key words: Dual-class shares; bank loan contracts; covenants; collateral; loan spreads Purpose: This thesis examines whether dual-class share structures are associated with differences in bank loan contrac
This thesis examines whether the implementation of the Corporate Sustainability Reporting Directive (CSRD) affects audit fees among listed European firms. Using a firm-year panel dataset from 2017 to 2025 and a difference-in-differences research design, the study compares firms directly subject to CSRD-related reporting requirements with non-mandated firms before and after the directive’s initial
The basic purpose of this study is to observe the association between firm sustainability and board quality, along with examining the moderating effect of the sustainability committee. Agency theory, resource dependence theory, stakeholder theory, legitimacy theory, and upper echelons theory are used as the theoretical bases of this study. Agency theory describes the supervising role of directors,
Purpose: The purpose of this thesis is to examine how local police managers in the Swedish Police Authority navigate the relationship between centrally designed management control and local operational practice. Methodology: The study follows a qualitative, abductive case study design, using the Swedish Police Authority as the empirical setting. Data were collected through semi-structured intervie
Purpose: The purpose of this paper is to investigate whether firms react to covenant pressure pre-breach event by adjusting their operational and financial strategies. Methodology: The econometric approach of choice is a firm fixed effects panel regression on the sample of firm-year observations. The regressions use a treated form of interest coverage slack as the main explanatory variable, while
This study examines whether environmental performance and Republican political alignment explain abnormal returns around the 2024 U.S. election, and whether political alignment moderates this relationship. The results show positive aggregate abnormal returns around the election. Firms with higher environmental performance experienced lower cumulative abnormal returns, suggesting that investors rea
Purpose: To examine whether an acquirer’s risk exposure affects the acquisition premium paid in public-to-public M&A transactions, specifically isolating the effects of leverage and stock return volatility alongside the moderating role of free cash flow. Methodology: The study employs multivariate OLS regressions with year and industry fixed effects and heteroskedasticity-robust standard erro
Purpose: The purpose of this study is to examine how the market-implied value of financial flexibility, measured through the VOFF composite of Rapp et al. (2014), relates to firm-level capital investment decisions, and to investigate whether financial flexibility moderates the negative effect of economic policy uncertainty (EPU) on investment. Methodology: The study applies a deductive quantitativ
Seminar Date: 2026-06-04 Course: BUSN79, Degree Project in Accounting and Finance Authors: Victor Damberg, Jonatan Svanbom Advisor/Examiner: Diem Nguyen & Reda Moursli Five key words: CDS Spreads, Leverage, Asset Tangibility, Financial Distress Risk, Redeployability Purpose: To investigate whether asset tangibility weakens the positive association between leverage and market-implied
Seminar date: 2026-06-04 Course: BUSN79 - Degree Project in Accounting and Finance Authors: Marcus Brodin and Sebastian Dolk Persson Advisor/Examiner: Reda Moursli/Diem Nguyen Key words: Spin-Off, Transition Risk, Carbon Intensity, Credit Default Swap Spread, Probability of Default. Purpose: This paper examines how spin-offs affect the parent firm's credit default swap spread and probability
Purpose: To examine whether generative AI adoption influences analyst forecast error and bias, and whether the relationship differs across firms with different characteristics. Methodology: The study applies a quantitative panel-data approach using pooled OLS and firm fixed effects regressions. Interaction models are used to examine whether firm size, segment complexity, intangible intensity an
