Browsing by Author "Olofsson, Simon"

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Cross-price elasticities of demand on electric vehicles, by prices and taxes of gasoline vehicles
(2021-09-14) Hosamaldin, Aya; Olofsson, Simon; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik
The purpose of the thesis is to estimate the cross-price elasticities of demand on electric vehicles by gasoline vehicle taxes and gasoline prices in six different countries with electric vehicle markets. This is to examine whether a government’s incentives have any effect on the demand for electric vehicles, and if so by how much. The countries chosen are Sweden, Norway, Germany, USA, China and Japan where each country's demand and price changes during the time period 2016 - 2020 is studied. The investigation derives a logarithmic linear function that is applied in order to estimate the relevant elasticities from a panel data regression. The used data is on demand and prices of electric vehicles, prices of gasoline vehicles, prices of gasoline, taxes on gasoline vehicles and finally the GDP per capita in each of the countries. The demand of electric vehicles is the dependent variable which is divided into two datas; new registered electric vehicles per 100 000 capita and the market share of new registered electric vehicles compared to the total number of new registered light vehicles. The result shows that the demand of electric vehicles during the time period is mainly dependent on the gasoline vehicle prices and GDP per capita, whilst the other variables were examined to be non-significant. One explanation for the high insignificance in the study could be due to too few observations in the data set.
Performance Evaluation of Swedish and German Actively Managed Mutual Funds
(2021-02-18) Cederdahl, Robin; Olofsson, Simon; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik
There are many studies examining the performance of actively managed mutual funds in different markets. The results of these studies vary depending on the used model and market. This thesis does as most of the previously mentioned studies use the Capital Asset Pricing Model (CAPM) as a baseline model, moreover this thesis uses the Fama-French Three Factor Model (FF3), which incorporates the value and size of the firm in the model. Inspired by Ferson and Schadt (1996) we modify our models by adding an information variable enabling us to present a result which in some regards are similar to previous studies. The results of our study shows that Swedish actively managed mutual funds have a higher average return, Sharpe ratio, and Treynor ratio than German actively managed funds. The intercepts, which measure the average superior performance, in our models of the Swedish funds are larger than those of the German funds. Our models are further tested by using the correlation, Breusch-Pagan, and Breusch-Godfrey tests.
Successful Managers? a Study on US Corporate Restructuring Returns
(2023-06-29) Fledsberg, Lars Erik; Olofsson, Simon; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
This study examined the long-term performance of corporate restructurings in the United States between 2000 and 2015 in response to the absence of abnormal returns found in prior literature. The significance of this study stems from the intricate nature and expenses associated with transactions that impact stakeholders, thereby increasing their risk exposure. The analysis focused on completed mergers and acquisitions (M&A) deals and spin-offs within the US, assessing their performance over three and five years after the transaction, building upon earlier research. By considering the evolving market conditions, this thesis contributes to the existing knowledge on restructuring by employing an up-to-date sample. The findings of this study revealed no statistically significant abnormal returns during the three- or five-year periods following M&A and spin-off activities, indicating that bidders did not attain substantial abnormal returns from such activities. Consequently, these results suggest that other motives than synergy creation might be responsible for the M&A.