Browsing by Author "Nilsson, Joakim"

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Accuracy of Analysts' Earnings Estimates
(2019-07-05) Nilsson, Joakim; Svensson, Philip; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
This thesis investigates consensus and individual analyst firm accuracy in forecasts of earnings per share (EPS) for U.S. stocks in 2009–2018. Moreover, we investigate if the analysts’ forecasting predictiveness is affected by the size of the company which is observed. Finally, we examine if differently weighted models can beat an equally weighted consensus forecast. We find statistical evidence that analysts’ forecasts of EPS have predictive power. Furthermore, we find that the size of a company impacts the predictive ability of analysts. Analysts of larger companies, included in S&P 500, are more accurate in their forecasts, relative to analysts of smaller companies, included in Russell 2000. Finally, after categorizing the analyst firms by predictiveness, we create models to explore the possibility of beating the average with weighted combinations. Our results show that none of the suggested models are statistically significantly different from the consensus and therefore we cannot conclude that differently weighted models outperform an equally weighted consensus.
EUROSKEPTISKA PARTIERS OMVÄNDA REAKTIONSFÖRMÅGA En studie av euroskeptiska partiers position till EU vid positiv förskjutning av den allmänna opinionen
(2023-06-29) Nilsson, Joakim; Göteborgs universitet/Statsvetenskapliga institutionen; University of Gothenburg/Department of Political Science
This paper investigates the party positioning of Eurosceptical parties in relation to public opinion when it is trending positively. Previous crisis in Europe have led to Eurosceptical parties to adopt a negative stance towards the European Union, seemingly aligning with public opinion, However, it is unclear whether the changing of positioning for these parties occurs in both positive and a negative way, as adopting a less critical stance contradicts the political agendas of Eurosceptical parties. To explore this phenomenon, this study draws on the theoretical tradition of Spatial Theory by Downs (1957). According to this theory, political parties are responsive to the public opinion to gain popularity among voters and win election. Using a quantitative method and a regression analysis of panel data from Manifesto Project, the study demonstrates a shift in the position of Eurosceptical parties towards a less critical stance on the EU during the same period when public opinion has shifted positively (Eurobarometer, 2023). The findings further emphasize the crucial role of public opinion, and this study fills a gap in earlier research by providing insights into the specific position Eurosceptical parties adopt concerning their attitude towards the EU in this recent period. By shedding light on party dynamics and their relationship with public opinion, this study contributes to a deeper understanding of Euroscepticism and its implications for European politics.
Lärares legitimitet inom ämnet idrott och hälsa
(2012) Larsson, Emelie; Nilsson, Joakim; Göteborgs Universitet/Institutionen för sociologi och arbetsvetenskap
Studien syftar till att undersöka idrott och hälsa ämnets legitimitet och även lärare som undervisar i ämnets status. Vi frågar oss om vad lärare har för syn på ämnet och hur ämnets status ser ut idag i jämförelse med när de intervjuade lärarna gick i skolan. Vi har använt oss av kvalitativ undersökningsmetod med semistrukturerade intervjuer. För att undersöka syftet valde vi att intervjua sju lärare, det för att ta reda på vad lärarna tycker och tänker om ämnet idrott och hälsa. Lärarna som deltog i studien intervjuades med bandspelare som hjälpmedel för att underlätta transkriberingen. Intervjumomenten ägde rum på två olika skolor i Göteborgsområdet. I resultatet framgick att lärarna i vår studie upplevde att statusen i ämnet idrott och hälsa har gått ner de senaste åren. De intervjuade lärarna var också eniga om att idrott och hälsa ämnet påverkar de mer teoretiska ämnena i skolan positivt. Koncentrationsförmågan framhäver lärarna i studien påverkas positivt av ämnet idrott och hälsa, det i de mer teoretiska ämnena. Dock kan det inte styrkas i någon teori, medan det finns forskning på att prestationerna i de mer teoretiska ämnena ökar i samband med utökad fysisk aktivitet. Utifrån studiens resultat vill vi belysa för skolor och lärare att ämnet idrott och hälsa har en positiv påverkan inom skolan.
LEGAL CLARITY AND IMPARTIALITY An Experimental Study of Consistency in Decision Making Among Government Officials Worldwid
(2025-07-02) Nilsson, Joakim; Göteborgs universitet/Statsvetenskapliga institutionen; University of Gothenburg/Department of Political Science
The language used in legal texts is often ambiguous, hindering bureaucrats' ability to understand, interpret, and apply the law consistently, thereby threatening impartiality. The Quality of Government (QoG) literature foregrounds the importance of impartiality. However, it largely overlooks how legal language clarity affects this principle in practice. This thesis bridges two unconnected literatures: QoG and legal scholarship. Although legal origin theory links legal traditions to government performance, it overlooks the role of legal clarity. Legal research highlights the importance of clarity for legal comprehension, yet it does not address its implications for bureaucratic decision-making. This thesis addresses this gap by asking: How does the clarity of legal language affect bureaucratic impartiality? It advances a theoretical argument linking legal clarity to impartiality via the mechanism of consistent application. To test the argument empirically, the study conducted an online survey experiment with over 900 former and current government officials worldwide. Participants were randomly assigned to read a case based on a real-life scenario where the law was framed in either ambiguous or clearer legal language. The findings provide empirical support to the proposed theory that legal clarity promotes impartiality: individuals exposed to ambiguous wording applied the law less consistently. The thesis broadens the prevailing perception of QoG by advancing a nuanced understanding of impartiality, which considers the role of legal language clarity.
Legal Clarity and Impartiality: A Global Experimental Study of Consistency in Bureaucratic Decision Making
(2025-08) Nilsson, Joakim; Nistotskaya, Marina; The Quality of Government Institute
The language used in legal texts is often ambiguous, hindering bureaucrats’ ability to understand, interpret, and apply the law consistently, and thereby threatening impartiality. While the Quality of Government (QoG) literature emphasizes the importance of impartiality, it overlooks how the clarity of legal language shapes this principle in practice. This paper bridges two bodies of scholarship: the QoG literature and legal studies that highlight the role of language clarity in law comprehension but haven’t considered its implica tions for bureaucratic decision-making. We advance the argument that language clarity fosters impartiality by enabling more consistent application of the law. To test this claim, we conducted an online survey ex periment with 900 current and former government officials from 33 countries. Participants were randomly assigned to resolve a case – based on a real-life scenario – in which the legal provision was presented in either ambiguous or clearer language. The results show that exposure to ambiguous wording reduced con sistently in the application of the law, whereas clear language fostered greater judgment consistency. These results call for a revision of the prevailing conceptualization of high QoG – from a mere absence of factors not “stipulated in the policy or the law” to also include the clarity with which laws are formulated. The paper underscores the practical significance of legal drafting for public sector performance.
Return of the SPAC
(2021-06-30) Nilsson, Joakim; Svensson, Philip; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
Past empirical research on Special Purpose Acquisition Companies has demonstrated long-term negative returns following the merger due to the flawed structure, mainly attributed to incomplete information. This paper examines the return of SPACs in the short-term surrounding two events: target deal announcement and merger completion. Furthermore, we study the effect of SPAC target industry, trust size, event timing, and institutional ownership extent, on the return at the events. Using a sample of 113 US SPACs during 2015–2020 we find abnormal returns surrounding the two events, discussed as market anomalies and in contrast to research on efficient markets. An opportunistic investor can use these anomalies to buy SPACs prior to the deal announcement and sell or even short the SPAC prior to the merger. Building on the research on the long-term returns of SPACs, this study finds support that also the short-term returns are affected by the structure of SPACs. This paper sheds new light on the upturn in SPAC activity, their performance, and their long-term implications.