Browsing Student theses, total by Title
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En komparativ analyse mellem England og Danmark med særligt fokus på reviewFrendrup Petersen, Anne (Frederiksberg, 2008)[More information][Less information]
Abstract: According to the European Union’s fourth directive each member states can exempt the smallest companies from statutory audit. Many of the member states have chosen to do so – among these England. Here the audit exemption thresholds are executed to the European Union’s maximum. One of the Danish government’s goals is to minimize the administrative burdens by 25 % before 2010. Therefore, the government decided in March 2006 to exempt the smallest companies in Denmark for statutory audit. The exemption happened as a result of a report conducted by the Danish Commerce and Companies Agency. The report analysed the consequences of an exemption from statutory audit and was afterwards heavily debated among the affected stakeholders. After the audit exemption became effective the politicians talked about an audit exemption which was executed to the European Union’s maximum and to put review instead of the statutory audit. The focus of this thesis is the question of a further exemption with a review instead of an audit. On the basis of England’s great experience with exemption from statutory audit, this study will evaluate and consider whether a further audit exemption is desirable in Denmark. I therefore compose a comparative analysis of the exemption from statutory audit between England and Denmark. Furthermore I analyse the banks’ and the tax authority’s position on the matter of audit exemption and review instead of statutory audit. It seems inevitable that Denmark will start to implement a further exemption for two reasons. Firstly, the government’s objective is to minimize the burdens of the Danish companies with 25 % before 2010. Secondly, the audit exemption of Denmark has a very low thresholds compared with other countries in the European Union. Based on my studies of stakeholders’ opinion concerning a further exemption, in which review is put instead of statutory audit, the solution does not seem desirable. This is caused by the fact that the stakeholders seem to possess the opinion that a review has no value. In addition to this, England’s experience with a review-solution shows that neither the companies nor the stakeholders have confidence in such a solution. Therefore I conclude that a further exemption from statutory audit in Denmark is desirable. However, a situation with a review instead of an audit is a poor solution. Though it is highly probable that Denmark gets a further exemption, the question of how and when will depend on the final evaluation by the authorities in 2009/10. URI: http://hdl.handle.net/10417/667 Files in this item: 1
anne_frendrup_petersen.pdf (947.6Kb) -
A Strategic Perspective on an Industry in DeclineRønn Jensen, Emilie Sigrid; Alempiew, Maria Løkkegaard (Frederiksberg, 2016)[More information][Less information]
Abstract: Dette speciale undersøger, hvorvidt traditionelle bodegaer fortsat kan eksistere i København, eller om det er et spørgsmål om tid, før de uundgåeligt må dreje nøglen om. Bodegaerne opererer på et marked karakteriseret af høj konkurrence fra restauranter, caféer, vinbarer og deslige. Positiv differentiering er derfor afgørende. Specialet identificerer som udgangspunkt to overordnede, centrale problemstillinger: 1) Bodegaejernes manglende markeds- og strategiforståelse 2) Indendørs rygning, som tillades på mange bodegaer. På baggrund af disse to problemstillinger fremlægger forfatterne strategiske overvejelser og anbefalinger vedrørende en strategisk Bodega Association: et forretningsinitiativ med det formål at hjælpe bodegaejerne tilpasse sig det marked, de opererer i. Der gives altså et bud på en teoretisk funderet forretningsstrategi, der kan sikre de traditionelle bodegaers overlevelse i København. Der præsenteres en analyse af det sociale paradigmeskifte, der præger det danske samfund og bl.a. viser sig i faldende accept af indendørs rygning. Dernæst analyseres og diskuteres ved hjælp af primærdata, hvorvidt 20-30-årige bosiddende i Københavnsområdet kan udgøre et stabilt og profitabelt kundesegment for bodegaerne. Samme data præsenterer samtidigt, at bodegaen er vellidt blandt målgruppen, og at der derved er grundlag for forlængelse af denne industris livscyklus. Herefter præsenteres på baggrund af primærdata en analyse af københavnske bodegaejeres forretningsførelse og værdier for at vurdere på hvilke områder, de bør udvikle sig, og hvordan et strategisk forretningsinitiativ kan understøtte denne udvikling. Afslutningsvist i specialet evalueres de fremlagte strategiske anbefalinger på baggrund af startup-principper udviklet af Eric Ries, John Mullins og Randy Komisar, som alle er eksperter i iværksætteri. Centrale teoretiske begreber i planlægning og udførelse af forretningsstrategi omhandler det ”deliberate” approach over for det ”emergente” approach. Michael Porter som teoretiker for den første tilgang, Henry Mintzberg den anden. Sat på spidsen handler ”deliberate” strategi om fuld kontrol (planlægning), hvor ”emergent” strategi handler om gradvis læring (proces). Dette speciales forfattere tilslutter sig præmissen om, at de bedste strategiprocesser bygger på anvendelse af begge teoretiske tilgange, hvorfor en sådan tilgang præger specialets problemløsning. URI: http://hdl.handle.net/10417/6291 Files in this item: 1
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Ølgod, Birgitte Friis (Frederiksberg, 2015)[More information][Less information]
Abstract: Contemporary consumers have been released from the traditional identity anchors such as family, class and other social groups. Instead consumers have turned to the market – to form identities and create communities with others through consumption. To study how consumers use consumption as a new way of forming identity anchors, this study focuses on food consumption in a Danish context. Food consumption is crucial to the consumer from a biological perspective but it is also highly influenced by the social and cultural context A myth of health exists in the Danish food culture, and official dietary guidelines are presented to obtain the desirable identity position of a healthy consumer. In spite of the guidelines, alternative food regimes exist within the Danish food culture, each with their interpretation of the health myth. One of these alternative food regimes is LCHF (Low Carb High Fat), which is the research case of the present study. Through the LCHF food regime this study seeks to explore why consumers choose an alternative food regime, what they obtain from this particular food consumption and how this insight can be interesting to marketers. Through a qualitative interview study with six devoted female LCHF-followers, and a netnographic study of a popular LCHF Facebook group, I find that choosing an alternative food regime is the result of dissatisfaction with the official dietary guidelines and an experience of stigmatisation within the Danish food culture. Following the official guidelines has not provided the consumers with a healthy identity, and they start looking for an alternative. After experiencing the physical wellbeing of consuming LCHF food the consumers start questioning the authorities’ definition of health. The feeling of stigmatisation and the distrust in official authorities make LCHF-followers break with the traditional food regime and build a LCHF community. This community is important to LCHF-followers because of the shared group identity and the cocreated knowledge among the members. The community’s recognition empowers individuals to take back control in their lives. LCHF-followers learn to rely on their body-signals instead of complying with official guidelines. Based on this, LCHF-followers adopt the identity of a healthy individual with a high amount of self-control. The choice of following LCHF cannot only be perceived as an act of resistance but also as part of a continuous status game, where social status is gained through culinary capital. LCHF-followers’ food knowledge provides them a certain social status within the Danish food culture. The findings of this study are interesting to marketers as they provide an understanding of consumers’ consumption choices and how to approach them with attractive market offerings. URI: http://hdl.handle.net/10417/5735 Files in this item: 1
Birgitte_Friis_Ølgod.pdf (30.56Mb) -
The Symbolic Meaning Transfer Process from a Retailer Brand to a Manufacturer Brand based on the Austrian Cosmetic MarketBurghofer, Edith (Frederiksberg, 2014)[More information][Less information]
Abstract: Abstract: A brand is created from both, marketers and consumers. Whereas marketers try to control their brands with marketing activities, consumers are the ones who give meaning to brands by interpreting every situation they get in touch with those brands. Therefore, brand meaning resides in the mind of the consumers. One decision every brand manager must make is how to distribute the brand’s products and therefore retailers must be chosen. Identifying an appropriate retailer can be a winning strategy to penetrate a chosen market. Retailers can further be defined as brands and as a result their meanings are also in the minds of the consumers. The aim of this thesis was to explore if the symbolic meanings identified with the retailer brands are transferred to its manufacturer brands. Moreover, the sources of these meanings were strived to be determined. The theoretical foundation for this thesis was based on three areas of theory: the consumer, the manufacturer brand and the retailer brand. It was a necessity to understand each of these three variables in order to then subsequently research their interdependent relationship. Methods of analysis included qualitative and quantitative research. The studies were based on the Austrian cosmetic market with four manufacturer brands, namely Vichy, La Roche- Posay, Biotherm and Lancôme, and two retailer brands, precisely the pharmacy and perfumery. First qualitative research (i.e. in-depth interviews and focus groups) was conducted in order to collect the most important meanings (and their sources) consumers attribute towards the brands. Second a quantitative study (i.e. online questionnaire) was done to test the results of the qualitative research and to further explore the magnitude of the meaning transfer processes between the brands. Findings implied that meaning is transferred from retailer brands to manufacturer brands. However, the magnitude of this transfer depends on the meanings manufacturer brands additionally symbolize independently from the retailer brand. Whereas similar meanings might reinforce each other, contradicting meanings might lead to consumer confusion. As a result, it is decisive for every brand manager to ensure that all consumer-brand touchpoints, which can be controlled by the company, offer consistent manufacturer brand meanings. URI: http://hdl.handle.net/10417/5216 Files in this item: 1
edith_burghofer.pdf (17.65Mb) -
Critical discourse analysis of the World Bank and Transparency International’s framing of youth in the anti-corruption discourseHjulmann, Stinne; Vejborg Andersen, Stine (Frederiksberg, 2011)[More information][Less information]
Abstract: It seems a new focus is developing on youth as an actor in anti-corruption (AC), with youth increasingly being referred to as agents of change. This developing focus on youth in AC represents an interesting issue of growing relevance that is visible in the work of Transparency International (TI) and the World Bank (WB). Both institutions have received criticism for promoting an underlying agenda of neo-liberal reform in their work on AC; hence, we question whether the emphasis of youth as an actor in AC is a continuation of this agenda. We view this as an interesting issue in need of illumination. Consequently, in this thesis we take a critical stance towards why youth are increasingly being emphasised as an actor of change on the AC agenda. We seek to uncover why this focus has occurred and what motivations lie behind incorporating youth in AC. We ask the following research question: Why are youth increasingly emphasised as agents of change in the anti-corruption discourse? From the literature review it appears that this focus on youth in AC is quite novel and is an area that has yet to be researched by academics. No literature exists on this link between AC and youth. Hence, we view this topic as important and relevant, as we examine a topic that is yet unexplored. To guide the research we ask the following subquestions: What is the focus of the AC programmes that target youth? How are youth framed in the AC discourse? How are youth framed in other social processes? We employ the case study as our research method and we take our point of departure in two international organisations, TI and the WB, which both have a focus on youth in relation to their AC programmes. By employing the case study we can contribute to, and expand the knowledge of, the subject of youth in AC, and make theoretical generalizations on why there is an increasing focus on youth in the AC industry. We employ a qualitative research strategy and use qualitative data to understand the research area. To analyse the data, we apply Fairclough’s three-dimensional model for critical discourse analysis to examine the language utilised in documents from TI and the WB. We use interview data to contextualise the text analysis. We conclude that the discourse constructs and frames youth within a neo-liberal view of citizenship and government. Civic education, under the umbrella of AC, educates youth in demanding accountability and transparency of their governments, and the programmes educate youth themselves to resist corruption, and instil in them a certain view of citizenship. We argue that this notion of citizenship lies within the neo-liberal paradigm, which emphasises the ’responsibilization’ of youth - and hence the role of the individual in self-governance. In this light, AC programmes with the component of civic education can essentially be viewed as a means to shape youth and instil in youth particular values that promote democratic, neo-liberal thinking. This appears to be a wider agenda of the WB, and also TI, who both emphasise good governance embedded in neo-liberalism in their discourse. Beyond the generic reasoning for emphasising youth in AC, such as their sheer numbers, their role as the future world leaders, and their idealism, we conclude that the emphasis on youth as agents of change reveals an underlying agenda: the WB and TI essentially use youth to push forward a contested neo-liberal agenda. Hence, this thesis contributes with a deeper understanding of the increasing focus on youth as a new actor in AC. URI: http://hdl.handle.net/10417/2011 Files in this item: 1
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The role of education and social networks in opportunity developmentBay, Katrine; Rasmussen, Pia (Frederiksberg, 2010)[More information][Less information]
Abstract: Recent debates in the development community and countries in Sub‐Saharan Africa have centred on how to create employment for the growing youth population. Entrepreneurship has become very popular in private sector development as a way of creating selfemployment and hereby decreasing poverty. The purpose of this thesis was to examine how educational background and social networks affect opportunity development for young entrepreneurs in Accra. In particular, how entrepreneurial education might influence opportunity identification since there is an increased focus on this education in Ghana. We therefore identified three groups of young entrepreneurs whom we interviewed during a field trip to Accra. The entrepreneurs in two of the groups had received specific entrepreneurship education whereas those in the last group had not. The thesis employed the philosophy of critical realism in order to answer the research question, and employed a qualitative methodology consisting of semi‐structured interviews and participant observations. A framework of opportunity development was proposed with variables indentified from the literature. The data obtained from the 20 interviews indicated that educational background influenced opportunity identification and that entrepreneurs used social networks in the execution of opportunities. Moreover, our research indicated that religious networks and the use of online social networks played an important role in business for young entrepreneurs. These findings make a small contribution to an understanding of opportunity development in the under researched area of youth and entrepreneurship. Further, our findings may be of interest to companies, organisations or donors that want to offer entrepreneurial training programs, or who are already doing so. URI: http://hdl.handle.net/10417/1678 Files in this item: 1
katrine_bay_og_pia_rasmussen.pdf (3.520Mb) -
Arre, Ann Mette (Frederiksberg, 2012)[More information][Less information]
Abstract: Valgdeltagelse i amerikanske præsidentvalg er et meget omdiskuteret emne. Der findes man-ge forklaringer på hvorfor amerikanerne vælger at gå til stemmeurnerne eller ej. De fleste studier fokuserer på en nedadgående tendens i amerikansk valgdeltagelse, men ved nærmere undersøgelse af vælgernes fremmøde i perioden 1988 til 2008 fremgår det, at der er tale om en svingende kurve frem for en nedadgående kurve. Valgdeltagelsen blandt de amerikanske unge i alderen 18 til 29 viser især store udsving. Efter det amerikanske præsidentvalg i 2008, blev den nuværende Præsident Barack Obama tilskrevet æren for at have genereret det højeste fremmøde af unge vælgere siden 1992. Stra-tegien i hans valgkampagne, hvor han ville nå ud til de unge vælgere via deres egne kommu-nikationsmidler, blev af mange fremlagt som forklaringen på hans succes. Strategien var ba-seret på brug af mobiltelefoner og sociale medier som Facebook og Twitter. På trods af den høje valgdeltagelse i 2008 var selve stigningen i valgdeltagelsen ikke det stør-ste. Valgdeltagelsen blandt unge var steget betydeligt mere under valgene i 1992 og 2004. Dette tyder på, at unge vælgere tidligere er blevet mobiliseret af andre faktorer end ungdoms-orienterede valgkampagner. Denne afhandling vil undersøge hvad der ligger til grund for de til tider store svingninger i unges valgdeltagelse i amerikanske præsidentvalg. Der vil være fokus på institutionsprægede faktorer i form af det amerikanske registrerings- og valgsystem, og ikke-institutionsprægede faktorer i form af økonomi og kulturkrig om sociale emner. Faktorerne vil blive undersøgt ved hjælp af teorierne ”old institutionalism” og ”rational choice”. Den klassiske institutiona-lisme undersøger det politiske system og dets institutioners påvirkning af vælgernes adfærd. Teorien om den rationelle beslutningstager anskuer valgdeltagelse som en beslutningsproces baseret på vælgernes egeninteresse. Indflydelsen af det amerikanske registrerings- og valgsystem er belyst ved hjælp af en kom-parativ analyse af de politiske institutioner og valgdeltagelse på tværs af nationer samt forbundsstaterne. Økonomiens effekt undersøges ved at demonstrere den mulige sammenhæng mellem relevante økonomiske indikatorer og valgdeltagelsen. Problemstillingen angående kulturkrigen illustreres ved at identificere den politiske og ideologiske holdning blandt unge, samt fastslå betydning af emner som homoseksualitet og frivillige aborter i valg med høj valgdeltagelse. Der er fremsat mange forskellige forklaringer for unges svingende valgdeltagelse, såsom at unge skal mobiliseres til at stemme af kandidater eller andre organisationer som følge af be-grænsninger forårsaget af de institutionsprægede faktorer. Afhandlingens konklusion er, at denne forklaring ikke er sand. De institutionsprægede faktorer er konstante institutioner, som ikke har ændret sig i løbet af tidsperioden, og kan derved ikke forklare den svingende valg-deltagelse. Derimod afhænger unges valgdeltagelse af variable faktorer som økonomien og kulturkrig, da disse faktorer påvirker deres egeninteresse. URI: http://hdl.handle.net/10417/3098 Files in this item: 1
ann_mette_arre.pdf (724.3Kb) -
[More information][Less information]
Abstract: Over the past two decades, government and international organizations have had major concerns towards problems related to youth unemployment. Young people out of work are among those mostly affected by economic and financial dynamics, like what we observed in the recent financial crisis of 2008/2010. The purpose of this dissertation is to investigate whether economics and financial factors influence the development of youth unemployment. The main focus was directed towards Denmark and Italy. The choice of analyzing these two specific countries derives from the interest in the two labor markets, which present unique and almost opposite features. The econometric analysis will investigate whether growth in real GDP, inflation and short term interest rates are significant to changes in the youth indicator. Moreover, these results will be compared across the two countries URI: http://hdl.handle.net/10417/2920 Files in this item: 1
nadia_dippolito.pdf (1.594Mb) -
An exploratory study of consumers´ sense making in the context of high street fashionSø Johansen, Nina Lisa (Frederiksberg, 2014)[More information][Less information]
Abstract: The most valuable apparel brand, Zara, has achieved its success despite a lack of advertising. The high street fashion brand instead focuses its effort in three main areas; 1) the selection that is inspired by high end brands, 2) the stores that are located on the most important shopping streets, characterized by an exclusive look and feel, and 3) a tight stock management covering a fast supply chain, timely delivery and few available pieces. Guided by a general curiosity to understand this success from a consumer behavior perspective, the present study seeks to explore the symbolic world of Zara. Specifically, the study focuses on how positioning as an ‘affordable high-end brand’ affects and influences how consumers make sense of the brand. Through a qualitative interview study of five heavy Zara users, the study finds that Zara is perceived as a strong brand with a unique positioning that differentiates it from both high street competitors and high-end luxury brands. Because Zara consistently deliver on the experience i.e. frequently offering affordable versions of high-end products made readily available in the exclusive stores, the brand has created a self-reminding and self-enforcing cycle, that makes consumers continue to visit, shop and share their purchases. It is found that in order for them to make sense of fashion consumption, different brands have to be mixed together. Specifically, the study showed that if high end-brands are mixed with high street brands, then it is characterized as superior to the use of any brand individually. The participants characterized the ritual as being more stylish and individualized. Additionally, the study tabbed into how Zara consumption was used as a means of identity creation by matching the image of the brand with the self-image. It was found that there existed a duality between using Zara to show who they really are (the actual self), and also to enhance the self-capabilities (the extended self), or gain new (the ideal self). Depending on the context, consumption was used to express characteristics such as approachability, control, and independence. Furthermore, the study found that other’s recognition is an important as part of consumers’ sense making of the brand. Surprisingly, the consumption of Zara was not solely used as a means to create valuable links, but rather to establish a social positioning within the group. As such, it was a way to express belonging to, distance from, and positioning within ‘tribes’. The study showed some indications of the extended and ideal self being more related to distancing or intra-group positioning rather than linking, but further research is needed into the specific relationship between the self-concepts and recognition. URI: http://hdl.handle.net/10417/4579 Files in this item: 1
nina_lisa_soe_johansen.pdf (29.65Mb) -
Valuation and analysis of the value creationBormeth Vilhelmsen, Jan; Anker Larsen, Martin (Frederiksberg, 2015)[More information][Less information]
Abstract: The master thesis at hand is a study of the Danish retail store chain Tiger and EQT’s decision to acquire a 70% stake in the company. The aim in this thesis is twofold. Firstly, a valuation of Zebra per June 30, 2015, will be conducted. Secondly, an analysis of the value creation during EQT’s ownership period is performed. The main objective in this thesis is to estimate the fair Enterprise Value per June 30, 2015, through a DCF-analysis. Based on Zebra’s strategic position and its historical financial performance, the expected future earnings and cash flow generations were forecasted and resulted in an Enterprise Value of DKK 8,864 million from which the Group accounted for DKK 8,350 million and the Japanese Joint Venture for DKK 515 million. Based on these figures, Zebra’s fair value of equity comprises DKK 7,789 million. Of this figure, EQT’s share of the equity amounts to DKK 5,219 million and DKK 2,874 million when correcting for the 50/50 owned subsidiaries. At EQT’s entry in the beginning of 2013, the purchase price for its stake was DKK 1,600 million, according to different sources, resulting in an IRR for EQT on 26.48% per year. This IRR is satisfying since it is above the expected return for Private Equity investments which historically has a threshold for an IRR on over 20% per year, and in more recent time a threshold between 12-17% per year. The objective in the second part of this thesis is to analyze how EQT has created or destroyed value during its ownership period based on an IRR for Zebra, excluding the Japanese Joint Venture. The value created is almost solely driven by EBITDA-growth which represents 122% of the value creation. However, the EBITDA-growth is only driven by sales growth. As opposed to LBO-cases in general, EQT has not been able to improve the operational performance in Zebra as expressed in a lower EBITDA margin during its ownership period. Zebra as a LBO-case also differs considerably from other cases when it comes to the degree of leverage as it only accounted for 8% of the overall value creation. URI: http://hdl.handle.net/10417/5581 Files in this item: 1
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Balanced scorecard i Zoologisk Have i KøbenhavnChristensen, Charlotte (Frederiksberg, 2009)[More information][Less information]
Abstract: På grund af stigende krav til omkostningseffektivisering og professionalisering fra Zoos bestyrelse, ønsker direktionen i Zoo at udarbejde strategier, som kan medføre opfyldelse af bestyrelsens stigende krav. Direktionen har udarbejdet en mission og en vision for Zoo, og er i den forbindelse opmærksomme på, at opnåelse af disse, kræver en indsats fra hele organisationen, og ikke kun fra direktionen. Direktionen ønsker derfor at finde en model til implementering af strategierne på en måde, så alle medarbejdere får kendskab og forståelse for strategierne, og på denne måde kan arbejde målrettet mod, at nå målene i visionen. Gennem deltagelse i forskellige erfa-grupper indenfor ledelse og økonomi, har direktionen hørt om mange og gode erfaringer med strategiimplementering gennem Balanced Scorecard. Direktionen ønsker derfor, at undersøge om bestyrelsen stigende krav kan realiseres gennem strategi-implementeringsværktøjet Balanced Scorecard. Med udgangspunkt i dette ønske, vil følgende spørgsmål blive forsøgt besvaret: • For hvilke områder i Zoo, er der behov for udarbejdelse af strategier, og hvordan kan strategierne formuleres? • Kan Balanced Scorecard være en hjælp til implementering af Zoos strategier, så alle medarbejdere i organisationen opnår forståelse heraf og handling på denne baggrund? • Hvordan kan en Balanced Scorecard model for Zoo se ud? • Kan modellen bidrage til opnåelse af Zoos mission og vision? • Kan modellen bidrage til opfyldelse af bestyrelsens stigende krav? URI: http://hdl.handle.net/10417/502 Files in this item: 1
charlotte_christensen.pdf (5.658Mb) -
Livet med Døden. En dispositivanalyse af sundhedspolitikken på ældreområdetHvas, Anna Emilie; Juul, Tor (Frederiksberg, 2012)[More information][Less information]
Abstract: This thesis has focused on Health Policies for elderly people in Denmark. Through a theoretical framework defined by Foucault - and especially Deleuze’s reading of Foucault – the thesis investigates Health Policies for elderly people as a social phenomenon. Some of the questions answered in the thesis are: how do Health Policies affect elderly people’s lives? Why is there a growing focus on preventive health care in Denmark today? How do Health Policies have an impact on people’s lives? The analysis consists of two parts. The first part investigates the historical development of Health Policies for elderly people in Denmark. The second part investigates a contemporary initiative – Preventive Theme Meetings - within the Copenhagen municipality. The thesis concludes that there have been some major changes in the way the Danish society understands and interacts with the elderly. Historically, Health Policies have focused on the elderly from a distance, with great emphasis on institutional settings, whereas today they intend to meet “the-whole-person”. This change has indebted the elderly to everlasting preventive health care. The thesis also concludes that theories of medicine and economy tend to set the agenda in Health Policies affecting the contemporary elderly Danes. URI: http://hdl.handle.net/10417/3314 Files in this item: 1
anna_emilie_hvas_og_tor_juul.pdf (14.57Mb) -
Højby Hansen, Mik (Frederiksberg, 2010)[More information][Less information]
Abstract: The overall purpose of the master’s thesis is to analyse the volume of the financial risks of having investet capital in an owner-occupied dwelling when the capital at the same time must be used to finance future current spending. The master’s thesis decribes de elders’ situation in the housing market when it comes to type of residence, income-, debt and financial circumstances as well as the considerations elder people make when moving, and the reasons why they move. It was found that most elder people have somewhat alike income and financial circumstances, where the income is not that large, and the majority of their income is placed in an owner-occupied dwelling. Debt among the elderly is on the other hand very different, where 60 per cent of the elderly over 70 years has no debt or at least a limited amout of debt. On the contrary, 30 per cent of the elderly over 70 years has a debt exceeding 182 per cent of their annual income. Elder people’s moving patterns are characterised by the fact that only 50 per cent of those considering to move within a five-year period actually does it. At the same time, many elderly move without having considered it long before, because sudden circumstances changes their wishes and needs of residence. Then follows a review of the pricing in the housing market as well as the difference between the costs of residence and the expenses of residence, because a misinterpretation of those two concepts can have severe consequences for the financial strain and the risk that elder home owners undertake. An empirical conclusion of yield and the standard deviation in the houwing market is made, and the correlation between the economic factors influencing the total risks that elder home owners undertake is anlysed. It was found that there is a positive correlation between the housing market and the short-term and long-tern interest rates, GNP and the stock market. Elder home owers have two possibilities of realising accumulated aquity in the owner-occupied dwelling either by raising a home-equity loan or by selling the owner-occupied dwelling and changing type of residence. It was analysed and concluded that mortgage equity withdrawal is a risky way of realising the accumulated equity in the owner-occupied dwelling, because many preconditions for calculating a possible annual amount withdrawn are heavily volatile. URI: http://hdl.handle.net/10417/1524 Files in this item: 1
mik_hoejby_hansen.pdf (754.1Kb) -
Baad Michelsen, Johanns; Engel Petersen, Jesper (Frederiksberg, 2012)[More information][Less information]
Abstract: This thesis concerns the impact of change of circumstances in a business relationship, with special focus on hardship clauses in long and complex contracts. The thesis is build around the company CMJ A/S, which is a major company within the energy sector. The focus is mainly to determine whether the inclusion of a hardship clause in their contracts will be efficient for CMJ A/S or not. In order to analyze the clause’s efficiency, the thesis attempts to uncover the legal situation in Denmark, if a change of circumstances affects the contract, and no clause is adopted. The thesis concludes that the legal remedy in Denmark, is a doctrine of frustration, rather than a doctrine of adjustment. Also treated in this thesis, is the fairly new Proposal for a Common European Sales Law (or, CESL), with a special focus on Article 89, which is comparable to a general hardship provision. If the proposal gets adopted by the European Union, a viable option for CMJ A/S to use this will exist. Additionally we consider the groundbreaking rule of art. 2 in the CESL, under which a party’s failure to exude good faith and fair dealing, can result in him being liable for damages. We specifically analyze the effect of this rule in connection with the act of renegotiation, which stems from the hardship clause in art. 89 of the CESL. A hardship clause will also be particularly relevant in the energy sector, where many contract are closely linked in the form of so called cascade-contracts, and the failure of a single contract could have major implications for other contracts, and thus the company as a whole. A general and broadly written hardship clause such as CESL's Article 89 will probably not be the best solution, where the contracts is of a long duration and complexity. It is therefore recommended that certain clauses be tailored to CMJ A/S's needs, while some lesser important contracts more easily can be placed within the frame of the CESL. A hardship clause is a divergence from the principle of Pacta Sunt Servanda, and follows the doctrine of adjustment. This thesis attempts to analyze whether it is efficient to diverge from this principle or not. The analysis considers both legal and economic implications of doing this. The thesis concludes that the use of a hardship clause should improve the overall stability of CMJ A/S contracts, and thereby its relation to its partners, by sharing an eventual burden, and thus increasing the confidence in each other. This reduces the chance of litigation and costs associated with this, which could mount to a total loss if the contract is terminated. The clause results in an increased focus on not only renegotiation, but also in achieving a solution through renegotiation. Furthermore we conclude, that the rule of liability for failure to adhere to expectations of “good faith and fair dealing”, is somewhat effective in removing certain moral hazard issues within the renegotiation phase. In addition, a hardship clause adds stability to the contract, as both parties know that in extreme cases, reestablishment of the original contract balance will be attempted This can eventually lead to certain contracts and cooperation agreements will be entered signed, where they otherwise would have been signed, because of an undetermined risk. URI: http://hdl.handle.net/10417/3821 Files in this item: 1
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Brodersen, Gitte; Grøn, Peter Sigerseth (, 2008)[More information][Less information]
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Rygning, alkoholforbrug over Sundhedsstyrelsens anbefalinger og kørsel over fartgrænserneStenkilde Olsen, Louise; Anker-Svendsen, Kathrine (Frederiksberg, 2014)[More information][Less information]
Abstract: The purpose of the thesis is to examine which variables motivate individuals to change behavioral intentions concerning smoking, drinking beyond the recommended limits, and speeding. Based on this knowledge we have developed communicative recommendations for The Danish Health and Medicines Authority and The Danish Road Safety Council in order to optimize their informational campaigns. The theoretical perspectives of the thesis include Theory of Planned Behavior and Protection Motivation Theory, which investigate how individuals can change behavioral intentions. Through qualitative and quantitative methods, we have identified motives for performing the behaviors and variables, which motivate and affect individuals to change their behavioral intentions. The identified variables for quitting smoking are previous experience, one’s environment, the extent to which one feels exposed to a disease caused by smoking, awareness of the consequences regarding one’s behavior, and expectations that changing behavior will lead to a positive outcome. All of the above will motivate smokers to change their intention. No variables were identified to motivate individuals to reduce their alcohol consumption, but various results still show that certain variables could be involved in the recommendations for dissemination of information: earlier experiences, awareness of the consequences and positive expectations if one reduces one’s consumption of alcohol. Reduction in speed while driving is affected by criticism of one’s behavior, previous experiences, and expectations regarding how it could have a positive effect. If one finds the conse-quences severe and the behavior dangerous and irresponsible, and contemplates the consequences, this can elicit a change in intention. The analysis also identifies a new factor for each behavior con-cerning the consequences. These are specific for each behavior which can be used for further re-search. We have made recommendations for The Danish Health and medicines Authority and The Danish Road Safety Council based on the identified variables. This will possibly lead to optimized and more effective campaigns that should motivate individuals to change their intentions and subsequently their behavior. URI: http://hdl.handle.net/10417/5118 Files in this item: 1
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Lind, Michael; Pedersen, Søren (Frederiksberg, 2015)[More information][Less information]
Abstract: Leasing er steget blandt selskaber som finansieringsform for investeringer. Parallelt med dette øgede brug, er der kommet større fokus på den internationale regnskabsstandard, som vedrører leasing, IAS 17. Denne standard er udskældt blandt regnskabsbrugere, der mener, at standarden er gammeldags, da mange leasingkontrakter ikke indregnes i selskabets balance. Grundet standardens udformning i en tid, hvor leasing som finansieringskilde ikke var så udbredt, har dette ikke tidligere været et nævneværdigt problem. På denne baggrund skal regnskabsbrugere selv forsøge at estimere oplysninger til brug for reformulering af årsregnskabet for at få et mere retvisende billede af selskabets finansielle position. Dette påvirker også nøgletallene, som bliver mindre sammenlignelige på tværs af selskaber. På baggrund af kritikken af IAS 17 er den internationale udsteder af regnskabsstandarder, IASB, og den amerikanske udsteder af regnskabsstandarder, FASB, gået sammen om at lave en ny leasingstandard med det formål, at den regnskabsmæssige behandling bliver mere objektiv og sammenlignelig på tværs af selskaber. Deres seneste ændringsforslag til standarden, ED/2013/6, flytter definitionen af leasingkontrakter fra at leasingtager har alle risici og økonomiske fordele til at have brugsretten og et defineret aktiv. Ønsket med denne definition er, at langt flere leasingkontrakter skal indregnes i selskabernes balance. Den foreslåede ændring vil således påvirke blandt andet transportbranchen, hvor leasingkontrakter er udbredt. Ændringen vil medføre ændringer i hoved‐ og nøgletal, som dog ikke relaterer sig til selskabets drift, da der er tale om en regnskabsteknisk ændring. Dette rammer dermed selskaber, som aktivt har forsøgt at forbedre nøgletallene ved at reducere balancen, som følge af anvendelsen af operationelle leasingkontrakter efter IAS 17, som blot skal oplyses i note til årsregnskabet og ikke indgå i selskabets balance. Ved inddragelse af kommentarer fra og interviews af interessenter om ændringsforslaget samt analysering af DFDS' koncernregnskab for 2014, kan det konkluderes, at ændringsforslaget vil være en forbedring i forhold til den nuværende IAS 17, da formålet om en større grad af indregning af leasingkontrakter i balancen for at øge informationsværdien for regnskabsbrugerne samt øge sammenligneligheden, vil følge den internationale begrebsramme for regnskaber og derved medføre et mere retvisende billede af årsregnskabet. På baggrund af ED vil noteoplysninger om leasingkontrakter øge informationsværdien og forståeligheden for regnskabsbruger. Balancen og relevante nøgletal bliver på tværs af selskaber mere repræsentative og sammenlignelige, hvilket vil medføre mere præcise analyser fra aktieanalytikere. ED er dog ikke elsket af interessenterne og den foreslåede todelte model for indregning har fået betydelig kritik, da denne gør regnskabsområdet komplekst. Dermed er der fortsat forbedringsmuligheder inden den endelige standard implementeres. URI: http://hdl.handle.net/10417/5323 Files in this item: 1
michael_lind_og_soeren_pedersen.pdf (1.022Mb) -
Muff, Mathias; Jensen, René (Frederiksberg, 2012)[More information][Less information]
Abstract: This thesis has been written as part of the HD Graduate Diploma in Financial & Management Accounting programme at Copenhagen Business School. The main purpose of this thesis is to illustrate the effect of the change in the law regarding the company structure for companies who want to implement a tax free succession to family members or close employees. Before 2012 it was possible to transfer the company to family members or close employees and postpone the tax payment, as long as no more than 75 % of the company’s assets consisted of passive investment, such as shares, bonds or rental properties; or no more than 75 % of the income related to the passive investments. Mid September 2011 a new government was elected in Denmark, and as a part of their Finance Law for 2012 they decreased the percentage for passive investment from 75 % to 50 %. Firstly they suggested a limit of 25 %, but due to huge opposition from both other politicians and business men a settlement was obtained. The reasons for tightening the so called “pengetankregel” was to gain more taxes, as more companies would be unable to postpone the tax, and to increase the incentive to put more money into increased production in the hope of creating more jobs, in stead of just investing free capital in ‘passive’ assets. In this thesis we have focus on the following: the history of the “pengetankregel” describing the “pengetankregel” the fairness and the purpose of the “pengetankregel” the debate in connection with the submission of the first legislative proposal what effects the change will have for company owners and the Danish state how affected companies can maintain a position that makes it possible to postpone the taxes We will include a brief overview of how the succession can be conducted in practice, with different opportunities such as restructuring and splitting the company. Finally we will give our own opinion on the change of the “pengetankregel”. URI: http://hdl.handle.net/10417/3486 Files in this item: 1
mathias_muff_og_ rene_jensen.pdf (682.0Kb) -
Hartmann-Petersen, Kaspar (Frederiksberg, 2011)[More information][Less information]
Abstract: Denne opgave vil gennemgå tidligere og nugældende regler. Der vil blive foretaget teoretisk gennemgang af de tidligere gældende regler for beskatning af fortjeneste og tab på aktier og beskatning af udbytter. Videre vil der blive foretaget en teoretisk gennemgang af de regler og ændringer, som lov nr. 525 af 12. juni 2009 har medført i forhold til aktieavancebeskatningsloven. For at illustrere ændringerne og konsekvenserne, vil opgaven eksemplificere med eksempler og sammenligninger. Ud fra ovenstående er følgende hovedproblemformulering opstillet: ”Hvilke ændringer har lov nr. 525 af 12. juni 2009 medført for selskaber i forhold til aktieavancebeskatningsloven og hvilke konsekvenser har disse for selskaber?” URI: http://hdl.handle.net/10417/2773 Files in this item: 1
kaspar_hartmann-petersen.pdf (1.042Mb) -
Med fokus på konsekvenserne for virksomheder og regnskabsbrugere i regnskabsklasse BViknes, Gowridevy; Chughtai, Afshan J. (Frederiksberg, 2016)[More information][Less information]
URI: http://hdl.handle.net/10417/6110 Files in this item: 1