Browsing by Author "Boman, Stella-Maria"

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    Reasons behind negative short-term fluctuations in stock price A quantitative analysis of the health care industry
    (2006) Frödell, Mikael; Boman, Stella-Maria; Göteborg University/Department of Business Administration
    During the last years media has put a lot of focus on what is happening within companies. Stories of company boards lifting severance payments and pension agreements without the shareholders admittance and boards using company resources for their own interest have become more common. Meanwhile shareholders complain for companies’ underperformance and in some cases change the members of the boards and the CEO in order to generate more revenues in the future. On the other hand some companies have been in the focus of the media because of the financial downfalls and business setbacks which have resulted in downsizing and movement of facilities to countries with low wages. But in what extent is this affecting shareholders? This study investigates the underlying reasons for why share prices fall for short periods of time and hereby what activities within or outside the companies that shareholders react to. As the analysis object for the study the companies within the Health Care index at Stockholm Stock Exchange have been chosen since the industry’s growth rate surpass all other industries in Sweden. To analyze the occasions or “dips” when a certain company’s stock fall influences of an investment analysis technique called Bollinger Bands has been used. The changes in stock price have also been related to the changes in the index for the industry, SX35 Health Care, in order to consider effect on the market as a whole. This since shareholders probably will get as unsatisfied when their stock fall as when the rest of the index raises except the stock in which they are long. Investors behavior can in some cases be traced to the published news about a company’s business and financial results. In other cases a reaction from the investors by causing the share price to fall can be caused by dark prognoses for a company or by investors’ own gut feeling. Not all of the actions of the investors on the market can be explained in a rational manner, which makes insecurity on the market to increase. Depending on the media flow during a specific period of time it can be said that reasons behind market reactions can be related to investors’ rational and irrational behavior.
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    Strategic Analysis in 3D A tentative approach to frame a lifelike picture of strategic analysis
    (2006) Frödell, Mikael; Boman, Stella-Maria; Göteborg University/Department of Business Administration
    During years of studies at different universities a vast number of models on strategic development have been taught. Depending on which university, department and teacher one has there will be different models taught and different kinds of criticism passed upon the models. This results in confusion for students in the end not knowing which model is appropriate for which given situation. The same issue is anticipated to be experienced by people working in different companies challenged with the difficult work of analyzing the company and its market to create the perfect strategy that the whole company will be imbued with and lead it towards success. Though surprisingly little has been written in the field of strategic analysis model classification and thus the ultimate way to combine the different models that exist for the best possible result, this study is an attempt to change that. An analysis model to classify the different strategic analysis models will hopefully bring the analyst a step closer into being able to choose the models for the analysis with a better precision and with a better argument to why. To test the models accuracy there is an example of a medium-sized construction company active in the Gothenburg region analyzed with four differently classified models. They should be seen for what they are and that is an attempt to shed some light in the complex world of finding the right tools for analyzing a company and its environment in the best possible way to obtain the most accurate and an all-embracing picture. The main conclusion of this thesis is that a perfect combination of strategic analysis models not only can be identified by covering the three dimensions, but a palette of models with different characteristics needs to be found. In this study there are three different strategic analysis model classification categories (dimensions) in focus and four strategic analysis models chosen to be classified by the dimensions and tested within the company mentioned above. The three classification categories used in this study are; Internal versus External, Activities-based versus Resources-based and Dynamic versus Static. The strategic analysis models chosen for the purpose of this study are; Porter’s five forces, shareholder value oriented strategy, the value shop and resource based view.