Market Reactions to ESG News : How do negative firm specific ESG news affect the market value of public companies in Europe and the US?

In this master thesis, we examine how negative ESG news specific to individual firms impact the market value of publicly traded companies in the US and Europe over a short term period. We assess news events of 329 listed companies in the period between 2010 and 2020. Initially, we conduct an event study with the full sample to test a general but fundamental hypothesis and analyze whether we can find negative abnormal returns that are significantly different from zero following firm specific negative ESG news. Moreover, to provide further insight, we perform three additional event study analyzes with split samples. To examine whether companies with higher ESG commitment are being penalized by the market, we split the sample using UN Global Compact membership as a proxy. Furthermore, we split the sample based on the reach of the media source that reported the incident, and lastly whether the incident was new or recurring for the individual firms. Our analysis reveals a significant negative abnormal return for ESG incidents that were considered novel for the companies. Additionally, incidents reported by limited reach media sources also show a marginally significant negative impact. Moreover, our findings indicate that companies operating within specific industries tend to face more pronounced negative abnormal returns when the news incidents are related to environmental issues. Furthermore, we find marginally significant results of companies with higher ESG commitment experiencing larger negative abnormal results. However, concerning our general research question, we cannot find evidence suggesting that ESG news has a significant negative effect on a public company’s market value in the short term.nhhma

"In what way has the development of education requirements for real estate agents influenced the industry's professional level and customer satisfaction?"

Fordypningsoppgave bachelor i eiendomsmegling 2017I vår oppgave tar vi for oss hvilke krav det tidligere har vært for eiendomsmeglere i forhold til utdanning, for å så sammenligne disse medgjeldende krav i dag. Videre går vi i dybden på hvordan utviklingen av disse kravene har hatt innvirkning på bransjens fagnivå. I tillegg ser vi på hvordan endringen i bransjens fagnivå har påvirket kundetilfredsheten hos forbrukerne av eiendomsmeglertjenester i Norge. I kapittel 1 blir oppgavens tema introdusert. Vi forklarer i tillegg vi hvorfor vi valgte nettopp dette tema samtidig som at vi belyser hva vår problemstilling er. Til slutt redegjør vi for litt informasjon som er relevant for oppgaven. I kapittel 2 går vi dypere inn i teori som i stor grad er relevant for vår oppgave. Denne delen omfatter teori som gir et bilde på utviklingen av utdanningskravene for eiendomsmeglere. Vi informerer også, via relevant teori, om hvordan kundetilfredsheten har endret seg i løpet av de siste tiår. I tillegg blir det introdusert teori som legger grunnlag for diverse forutsetninger som er med på å forme vår oppgave. I kapittel 3 redegjør vi for hvilken metodisk fremgangsmåte vi har valgt for innsamling relevant empiri. Denne delen inneholder også et segment hvor vi definerer forskjellen på kvalitativ og kvantitativ metode, for å så begrunne hvorfor vi valgte vår metode. I kapittel 4 bearbeider vi vår innsamlede empiri. Her drøfter vi hva vår data betyr og på hvilke måter dette har relevans for vår oppgave. Dette segmentet er hvor vi legger grunnlag for vår konklusjon. I kapittel 5 kommer vi frem til en konklusjon som vi introduserer. I denne delen vurderer vi våre funn opp i mot vår problemstilling og kommer frem til hvordan svar vi har på vår utvalgte proble

Taking aim on empowerment research: On the distinction between individual and psychological conceptions

Empowerment theory need not remain a mystery. Efforts, such as those described in this special section, to outline more clearly the nomological network of empowerment at multiple levels of analysis will advance empowerment theory. Tough-minded rigorous research is needed to advance the concept of empowerment. Empowerment research requires us to shift our attention from a debate between the merits of research at one level of analysis versus another to building bridges between levels of analysis. We must integrate theories and methods from other disciplines and develop research strategies that incorporate qualitative procedures and the voices of the research participants. The papers in this special section take aim on these tasks and add to our understanding of empowerment.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/44024/1/10464_2004_Article_BF00922695.pd

Engagement and Action for Health: The Contribution of Leaders’ Collaborative Skills to Partnership Success

A multi-site evaluation (survey) of five Kellogg-funded Community Partnerships (CPs) in South Africa was undertaken to explore the relationship between leadership skills and a range of 30 operational, functional and organisational factors deemed critical to successful CPs. The CPs were collaborative academic-health service-community efforts aimed at health professions education reforms. The level of agreement to eleven dichotomous (‘Yes/No’) leadership skills items was used to compute two measures of members’ appreciation of their CPs’ leadership. The associations between these measures and 30 CPs factors were explored, and the partnership factors that leadership skills explained were assessed after controlling. Respondents who perceived the leadership of their CPs favourably had more positive ratings across 30 other partnership factors than those who rated leadership skills less favourably, and were more likely to report a positive cost/ benefit ratio. In addition, respondents who viewed their CPs’ leadership positively also rated the operational understanding, the communication mechanisms, as well as the rules and procedures of the CPs more favourably. Leadership skills explained between 20% and 7% of the variance of 10 partnership factors. The influence of leaders’ skills in effective health-focussed partnerships is much broader than previously conceptualised

Changes in older Dutch adults' role networks after moving

Using the convoy model (R. L. Kahn & T. C. Antonucci, 1980), this study examined the differential impact of relocation, depending on the distance moved, on the size of 3 types of role networks. A total of 890 Dutch nonmovers and 445 movers (aged 55-86 years) were selected from the Longitudinal Aging Study Amsterdam. Results of analyses of variance showed that the neighbor networks changed most after relocation. Long-distance movers discontinued the largest number of relationships with fellow club members. As expected, moving did not affect coworker networks. The findings show that, consistent with the convoy model, role networks proved to be unstable. Older adults, however, restored their partial networks at the second observation by starting new relationships. © 2008 IARR

Reduced air volumes in spinning rooms combined with cooled ceiling

In Norway 40 % of the energy used is related to buildings. The fitness industry has experienced a solid growth. From 30 fitness centres in 1960 to close to 1200 in 2018. The last ten years the numbers of fitness centres have doubled and over a million Norwegians are members of a fitness centre. Fitness centres and sport halls are buildings with high metabolic activity and demands large air volumes and cooling capacity for ensuring good air quality and comfortable temperatures. The need for large air volumes and cooling capacities is again leading to a high energy consumption in these buildings. As the governing recommendation is 250m3\h for rooms with high activity in fitness centres, like spinning rooms, this thesis will look at the opportunity to lower the recommended air volumes and yet keep the air quality at an acceptable level. This thesis will also apply radiant cooled ceiling as an alternative to fan coils as cooling

The effects of an omega-3 fatty acid and vitamins E and C on neuropsychological functions in schizophrenia and related psychoses.

There is ample evidence of disturbed membrane phospholipid metabolism and oxidative stress in schizophrenia. Trials with fatty acid and antioxidant supplementation have shown conflicting results as regards symptoms. This study is part of a larger multicenter, double-blind, placebo-controlled trial of Ethyl-Eicosapentaenoic Acid (EPA) and antioxidants (vitamins E and C) as add-on to antipsychotic drugs in younger patients with schizophrenia and related disorders. In the present study, we tested the effect of trial drugs on cognitive functioning in a geographically defined subgroup of these patients. Both patients (n=53) and controls (n=20) completed a broad battery of neuropsychological tests and were tested at baseline and at week 16. PUFA levels were measured in red blood cell (RBC) membranes. The longitudinal effects were analysed by Linear Mixed Model (SPSS 12.0). We expected the following hierarchy of effects, from greater to lower: 1) combined EPA and antioxidant treatment, 2) EPA or active antioxidants alone and 3) double placebo. In contrast to our expectations, performance on CPT and Stroop was impaired in the groups receiving single supplements. Antioxidants prolonged the Stroop- conflict time and EPA impaired sustained attention, as measured by CPT dprime. These effects were restricted to the low-PUFA group, according to the bimodal distribution of PUFA levels found in the larger study. Combining EPA and antioxidants had a non-significant beneficial effect on sustained attention in the low-PUFA group only, compared to placebo. There were no other significant effects of trial drugs on neuropsychological measures

“På hvilken måte har utviklingen av utdanningskrav for eiendomsmeglere hatt innflytelse på bransjens fagnivå og kundetilfredshet?”

I vår oppgave tar vi for oss hvilke krav det tidligere har vært for eiendomsmeglere i forhold til utdanning, for å så sammenligne disse medgjeldende krav i dag. Videre går vi i dybden på hvordan utviklingen av disse kravene har hatt innvirkning på bransjens fagnivå. I tillegg ser vi på hvordan endringen i bransjens fagnivå har påvirket kundetilfredsheten hos forbrukerne av eiendomsmeglertjenester i Norge. I kapittel 1 blir oppgavens tema introdusert. Vi forklarer i tillegg vi hvorfor vi valgte nettopp dette tema samtidig som at vi belyser hva vår problemstilling er. Til slutt redegjør vi for litt informasjon som er relevant for oppgaven. I kapittel 2 går vi dypere inn i teori som i stor grad er relevant for vår oppgave. Denne delen omfatter teori som gir et bilde på utviklingen av utdanningskravene for eiendomsmeglere. Vi informerer også, via relevant teori, om hvordan kundetilfredsheten har endret seg i løpet av de siste tiår. I tillegg blir det introdusert teori som legger grunnlag for diverse forutsetninger som er med på å forme vår oppgave. I kapittel 3 redegjør vi for hvilken metodisk fremgangsmåte vi har valgt for innsamling relevant empiri. Denne delen inneholder også et segment hvor vi definerer forskjellen på kvalitativ og kvantitativ metode, for å så begrunne hvorfor vi valgte vår metode. I kapittel 4 bearbeider vi vår innsamlede empiri. Her drøfter vi hva vår data betyr og på hvilke måter dette har relevans for vår oppgave. Dette segmentet er hvor vi legger grunnlag for vår konklusjon. I kapittel 5 kommer vi frem til en konklusjon som vi introduserer. I denne delen vurderer vi våre funn opp i mot vår problemstilling og kommer frem til hvordan svar vi har på vår utvalgte proble

Digitalt fortrinn: Effektivisering av prosjekteringsoppgaver innen VVS ved bruk av visuell programmering

I denne oppgaven ble det sett på Dynamo, og muligheten dette verktøyet har for å effektivisere VVS prosjektering. Skript har blitt utviklet for dette formålet og det har også blitt sett på hvordan utvikling av egne skript kan bidra til å frigjøre seg fra programutviklere. Gjenbrukhetsgraden av hvert skript til andre prosjekteringsoppgaver er vurdert og det vil bli lagt vekt på synliggjøring av god samhandlingen for å kunne bruke verktøyet effektivt. Resultatene viser at verktøy som støtter dynamisk modellering har et stort potensial til å effektivisere oppgaver innen VVS prosjektering og at slike verktøy kan redusere avhengighet av systemutviklere. Resultatene peker på at fokus på god datastruktur er essensielt for effektiv utnyttelse av verktøyet. Det er også verdt å nevne at programmer som blir utviklet ikke sirkulerer i det frie markedet og dermed ikke blir tilgjengeliggjort for konkurrenter. Dette skaper et konkurransefortrinn til de bedrifter som har effektive egendefinerte programmer. Teknologien er moden for bruk og bygger på det samme fokuset på bedre samhandling ved innføring av BIM