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Substansrabatt i investmentbolag: sambandet med onoterat innehav
Kristianstad University, School of Health and Society.
Kristianstad University, School of Health and Society.
2015 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

Substansrabatt för investmentbolag har sedan länge diskuterats inom företagsvärlden och forskningsvärlden. Substansrabattens bakomliggande faktorer är väldokumenterade och omdiskuterade men forskare är inte eniga om exakt vilka faktorer det är som driver investmentbolagets substansrabatt. En av de faktorer som visat sig ha en effekt på substansrabatten för investmentbolag är onoterat innehav och det är onoterat innehav som ligger till grund för vår uppsatts.

Syftet med studien är att analyser sambandet mellan svenska investmentbolags substansrabatt och dess onoterade innehav genom att studera ekonomiska egenskaper för de onoterade bolagen som ingår i respektive investmentbolags innehav. Studien baserades på kvartalsvisa observationer för svenska investmentbolags nivå av substansrabatt, andel onoterat innehav, diversifiering av onoterat innehav och värdedrivande parametrar i respektive investmentbolags onoterade innehav. För att besvara studiens frågeställning använde vi oss av Pearson`s korrelationstest och linjära regressioner.

Resultatet av studien påvisade att det finns ett positivt samband mellan investmentbolagens substansrabatt och andelen tillväxtbolag i det onoterade innehavet och att det finns ett negativt samband mellan lönsamhet i det onoterade innehavet och investmentbolagets substansrabatt.

Abstract [en]

The discount to NAV has been a debatable topic in the corporate world and the scientific field for a long period of time. Even though the underlying factors associated with the discount to NAV has been well documented and widely discussed, scientist remains divided on the topic. A factor that has been determined to have an effect on the discount to NAV is unquoted holdings which also is the starting point for this thesis.

The purpose of this thesis is to analyze the relationship between Swedish investment companies discount to NAV and the companies’ unquoted holdings by studying key performance indicators regarding the companies ‘unquoted holdings. The thesis was based on quarterly observations of the discount to NAV, the quota of unquoted holdings, level of diversification and financial key figures. To answer the hypothesis of the thesis we used Pearson`s test of correlation and linear regression.

The thesis result indicates that there is a positive relationship between the discount to NAV and the quota of unquoted growth companies. The results also showed a negative relationship between profitability in unquoted holdings and the discount to NAV. 

Place, publisher, year, edition, pages
2015. , 68 p.
Keyword [en]
Discount to Nav, unquoted holdings, diversification, profitability, growth firms, CEF
Keyword [sv]
Substansrabatt, onoterat innehav, diversifiering, tillväxtbolag
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hkr:diva-14987OAI: oai:DiVA.org:hkr-14987DiVA: diva2:866854
Educational program
Degree of Bachelor of Science in Business and Economics
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2015-11-17 Created: 2015-11-04 Last updated: 2015-11-17Bibliographically approved

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Substansrabatt i investmentbolag- sambandet med onoterat innehav(1159 kB)151 downloads
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File name FULLTEXT01.pdfFile size 1159 kBChecksum SHA-512
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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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