What determines the use of capital budgeting methods? : Evidence from Swedish listed companies

Purpose: This paper aims to extend and contribute to prior research on the association between company characteristics and choice of capital budgeting methods (CBMs). Design/methodology/approach: A multivariate regression analysis on questionnaire data from 2005 and 2008 is used to study which factors determine the choice of CBMs in Swedish listed companies. Findings: Our results supported hypotheses that Swedish listed companies have become more sophisticated over the years (or at least less unsophisticated) which indicates a closing of the theory-practice gap; that companies with greater leverage used payback more often; and that companies with stricter debt targets and less management ownership employed accounting rate of return more frequent. Moreover, larger companies used CBMs more often. Originality/value: The paper contributes to prior research within this field by being the first Swedish study to examine the association between use of CBMs and as many as twelve independent variables, including changes over time, by using multivariate regression analysis. The results are compared to a US and a continental European study.

Öppna arenor och slutna rum : några kommunikationskonsulter i Dalarna ser på opinionsbildning

Syftet med denna uppsats är att ta reda på hur lokala kommunikationskonsulter i Falun/Borlänge-regionen ser på opinionsbildning via professionella konsulter. De centrala begrepp som avhandlas är PR, opinionsbildning och lobbying.Den teoretiska ram som omger undersökningen består av de teoribyggen som skapats av Jürgen Habermas, James E. Grunig och Larsåke Larsson. Habermas ställer sig tveksam till den demokratiska nyttan av professionell opinionsbildning, Grunig är mer positiv och Larsson ser både för- och nackdelar med PR-verksamheten. Larssons undersökning av opinionskonsulter från 2005 refereras också.Undersökningen bygger på intervjuer med ett antal kommunikationskonsulter verksamma i Falun och Borlänge. Den lokala marknaden för opinionsbildande uppdrag diskuteras, men också huruvida politiska uppdrag förser byråerna med politisk färg. Huruvida medarbetarnas engagemang är viktigt och hur hög statusen på opinionsbildande uppdrag är ventileras, samt vilka arbetsmetoder som används. Intervjuerna behandlar också förekomsten av lobbying på lokal nivå. Till slut redogör de intervjuade för sin syn på hur opinionsbildning, PR och lobbying via konsulter påverkar demokratin.Under slutsatser diskuteras resultatet i relation till den teoretiska ramen. Att PR- och reklambranscherna alltmer växer samman och att opinionsbildning är ett vanligt inslag i många projekt är ett faktum som också skymtat fram i den teoretiska ramen. Men reklam- och PR-metoder integreras också i politiken, på gott och ont. Följaktligen växer den gråzon som finns mellan de olika typerna av kommunikation och mellan opinionsbildande och icke-opinionsbildande uppdrag. Det försvårar gränsdragning och tydlighet, men skapar nya kreativa möjligheter.Att den ökade användningen av kommunikationskonsulter kanske kan bidra till en orättvis fördel för resursstarka organisationer diskuteras. Ny teknik, t.ex. Internet, kan dock eventuellt vara den motvikt som gör det möjligt även för resurssvaga grupper att höras i det offentliga samtalet. Kommunikation som maktfaktor tas även upp utifrån termer som lobbying och medias dagordningsfunktion.Några aspekter av den outnyttjade potential som PR har ventileras också. PR som metod är en outnyttjad resurs på det lokala planet, något som kan bero både på okunskap hos de lokala kunderna och ett traditionellt arbetssätt hos byråerna. Utifrån intervjusvaren framkommer att både byråerna, deras kunder och media på landsorten skulle gynnas av ett större samarbete.Resultaten av intervjuerna stöder mycket i den teoretiska ramen, medan somligt förkastas. Som sammanfattning kan sägas att opinionsbildning via konsulter kan användas för både gott och ont. Vilket som blir resultatet handlar som oftast om etik, ansvar, öppenhet och professionalitet.ABSTRACTThe primary target for this report is to find out how communication consultants in the region of Falun and Borlänge views the practice of establishing public opinions by using professional public relations consultants. The concepts in focus are PR, the moulding of public opinion and lobbying.The theoretical framework surrounding this report is the writings by Jürgen Habermas, James E. Grunig and Larsåke Larsson. Habermas has doubts as to the democratic use of professional consultants working with public opinions, Grunig has a somewhat more positive approach and Larsson sees both advantages and disadvantages in a democratic sense with the PR industry. Larssons research concerning consultants working with the moulding of public opinions from 2005 is also reviewed. The research is carried out by interviewing some communication consultants working in the Falun /Borlänge- area. The local market for commissions concerning public opinions is discussed, but also if and how political commissions are forcing a political stamp upon the firms engaging in such commissions. The importance of personal commitment in the consultants and the level of prominence commissions concerning public opinion has in the business is discussed, but also which methods is used and preferred. The interviews also deal with the practice of lobbying in the local arena. Finally the participants state their views on how the moulding of public opinion, PR and lobbying effects the democracy. Conclusively, the result is put in relation to the theories earlier mentioned. The public relations market is merging with the advertising business, that is a fact, and establishing public opinion is a common element in a lot of projects. But methods used for advertising and PR are also integrated in the political sphere, for good and bad. That has made the distinction between different kinds of communication harder, thereby enhancing the difficulties of establishing boundaries and achieving clarity. Yet at the same time it facilitates new creative opportunities.The growing use of communication consultants may contribute to unfair advantages for organisations with large economic resources. New technical development though, such as the Internet for example, may prove to simplify communication for groups with lesser economic power. Communication as an aspect of power is being discussed in terms of lobbying and the agenda setting power of media.Some aspects of the unused potential that lies within PR are also in focus in this report. PR as a method is an unused resource in the local market, which can be due to the local clients lack of knowledge but also to the traditional work carried out by the communication firms. The findings of the interviews show that both communication firms, their clients and the local media would benefit from greater cooperation.The theoretical base in this work is mostly supported by the interviews, though a few of the findings does not agree. The moulding of public opinions by professional consultants can be used for both good and bad. What the result will be is, not surprisingly, a question of ethics, responsibility, openness and professionalism.

Pedagoger i det sociala uppdragets gränstrakter : Att hantera familjerättsliga processer, hot och våld

Pedagogues in the borderland of their social task: dealing with family law proceedings, threats and violence Drawing upon an explorative study of family law proceedings from a school perspective, the aim of this paper is to examine the school staff’s strategies for solving or coping with problematic situations in this context. Gendered conflicts between adults and violence are extreme cases for pedagogues in school and preschool. How do the staff cope with their own and the children’s vulnerability? Based upon interviews with 22 informants, the staff’s strategies are outlined and discussed in relation to organizational and professional circumstances and intersecting social relations of power. An analytical construction of six types of proactive and reactive strategies, ranging from distance keeping to normalization of own exposure, is utilized in the analysis. Findings suggest that the staff’s strategies to handle challenging events in this context vary with the parent’s gender, class position and ethnicity. Further, it is argued that creating a sense of safety and promoting learning among the children may be obstructed by lack of support from the school’s organization, demands on staff to perform customer oriented attitudes towards parents and lack of clarity concerning the limits of the social task. Conflicts between the organization and profession on the one hand and the educational and the social task on the other hand, are thus illuminated. In conclusion, a further aim of this article is to contribute to broader discussions on men’s violence against women and children – in families as well as in workplaces and in the intersection between these two areas.