Publikationer från Stockholms universitet
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Uptier Transactions and the Principle of Equal Treatment in Swedish Bond Markets
No full textIn recent years, and especially in the wake of the uncertain global interest rate climate since late 2022, liability management techniques have gained prominence as companies seek to improve their capital structures without the restricting im-pacts of entering formal insolvency proceedings. One such method, the uptier transaction, typically involves a majority of bondholders consenting to amend existing bond terms to allow for the issuance of new debt that ranks senior to the original bonds. While beneficial to the company due to the injection of new capital, and creditors participating because of their newfound priority, such trans-actions pose significant disadvantages to the minority bondholders who do not participate. The documentation for Swedish corporate bond transactions often relies on the standard terms of the Swedish Securities Markets Association (SSMA), which include majority decision-making frameworks and general pari passu clauses. However, the documents offer limited guidance on how far majority bondhold- ers may go in altering terms to their own benefit, creating legal uncertainty, par-ticularly considering the principle of equal treatment. This thesis examines uptier transactions in light of Swedish law, and particu-larly with regard to the principle of equal treatment as set out in Chapter 18, Section 3 of the Swedish Securities Market Act (2007:528), which implements Article 18.1 of the EU Transparency Directive. The study investigates the extent to which Swedish law permits bondholder discrimination and further evaluates the enforceability and normative status of a contract based on SSMA’s standard terms, while exploring the impact of relevant market practice and certain foreign precedents, in order to assess how these transactions may ultimately be treated in Swedish insolvency proceedings. In this context, the analysis also addresses the procedural and substantive implications of consent solicitation mechanisms and other early bird incentives. The study concludes that while Chapter 18, Section 3 of the Swedish Securities Market Act (2007:528) contains a requirement for materially equal treatment and imposes meaningful regulatory and contractual limits on bond market actors, Swedish law does not expressly prohibit uptier transactions. These restrictions are especially pertinent when majority bondholders modify bond terms to prior-itize their own claims - an approach that potentially undermines the integrity and predictability of the bond market. With formal insolvency proceedings as a nat- ural endpoint, the study further argues for greater legal clarity, with possible leg- islative intervention one alternative, to ensure that the Swedish bond market re-mains both efficient and fair in addressing financial distress.
Applying curriculum mapping and constructive alignment to a translator study programme : A case study of translation theory classes at undergraduate level in Sweden
No full textIn translator education, the longstanding divide between theory and practice continues to shape pedagogical discourse. Translation study programmes are generally highly practice-oriented, with theoretical components occupying marginal positions, despite translation scholars advocating for the benefits of learning translation theory. Empirical studies have shown that theoretical modules often become less appreciated after attending such programmes, suggesting that universities have yet to find effective ways of teaching them. Teachers’ perception of student disengagement within the context of translation theory courses at Stockholm University prompted the present investiga-tion. This study examines undergraduate translation theory modules at the Institute for Interpret-ing and Translation Studies, employing curriculum mapping to analyse the programme at a macro level and constructive alignment to assess the internal coherence of individual modules. The aim is to identify potential misalignments and areas in need of pedagogical revision. Despite the ap-parently aligned structure on the macro level, the micro level analysis shows that there is a lack of alignment in how the intended learning outcomes, teaching and learning activities, and assessment tasks are formulated. Based on the findings, the paper offers suggestions for improvement and pro-poses avenues for further research
An Emotional Rollercoaster: The Untold Stories of Mothers Working in Male-Dominated Industries Returning Back to Work After Maternity Leave
No full textThe re-entry to work after maternity leave is one of the most challenging phases in women´s lives. Women working in male-dominated industries additionally face various difficulties when combining their career with childcare which are brought to the forefront during their re-entry. In this thesis we address mothers' re-entry experiences working in the financial services sector in Nordic countries, also shedding light on their individual emotions. By conducting episodic narrative interviews with ten mothers in high-performing roles centering on the phenomenon of their re-entry, we find that mothers experience clashing emotions such as love and freedom, but also stress, guilt and the feeling of not being good enough. While the flexibility at work and bonding with colleagues facilitates mothers' re-entry, the inequalities they face and the pressure to fulfill societal expectations result in challenges for them. Mothers also experience re-entry as a time in which support is crucial but not always ensured and a period in which they need to cope with identity changes. We draw on insights from organization and gender studies which have mainly looked at workplace arrangements assisting mothers in their re-entry transition (Constantini et al., 2022; Kanji, 2010) and women's situation in general working in male-dominated industries (Acker, 1990; Cha, 2013; Trethewey, 1999). With our findings we extend current research by focusing specifically on the time of re-entry to work after maternity leave and thus capturing nuanced experiences and emotions of mothers working in high-performing roles in a gendered setting. Our implications for future research are twofold: first, research could continue centering on the distinct and complex episode of the re-entry, and second, explore the topic of motherhood and emotions within the rather rational and competitive work environment of male-dominated fields
Governance and participation in coastal management and climate adaptation in Western Sweden.
No full textThis thesis analyses the governance and participation dynamics that shape coastal climate adaptation in western Sweden with a focus on Västra Götaland, Skåne and Halland. Using a critical and multi-scalar analytical framework, the study interprets adaptation as a political and social process shaped by the interaction between European Union directives, national strategies, regional collaborations and the strong tradition of municipal autonomy in Sweden. The research examines how national agencies, regional networks, municipalities and citizens negotiate responsibilities and resources. A particular attention is paid to participatory processes and the opportunities available for historically marginalised groups to contribute to adaptation decisions and outcomes. The analysis identifies substantial variation in ambition, capacity and distributional justice across regions. The ongoing risks include institutional fragmentation and exclusion from decision-making. Adaptation progresses when inclusive participation and coordination across governance levels are in place, while heavy reliance on voluntary networks or limited funding tends to make improvements less stable. The study concludes that legitimacy and social justice must be central priorities for future Swedish coastal adaptation. A sustainable adaptation requires reforms that integrate participatory practice, foster equitable resource sharing and support the inclusion of diverse local perspectives. The Swedish case provides valuable lessons on the potential and the limits of democratic and decentralised governance when addressing fast-evolving climate risks
Constructing Climate Migration as a Security Issue : A Postcolonial and Securitization Discourse Analysis of Climate Migration in the European Union and Pacific Islands Forum Policy Frameworks
No full textClimate migration is becoming one of the most urgent global crises as droughts, hurricanes, and increased sea levels are forcing people to displace both internally and cross-border for stability and safety. Consequently, global governance is becoming increasingly prominent in the construction and narrative employed towards climate migration, as it is norm-setting and enables global policies. Against this background, the research aims to explore how the European Union (EU) and the Pacific Islands Forum (PIF) construct the discourse of climate migration in policy documents. The purpose is to gain a deeper understanding of how international organizations construct climate migration through a postcolonial and securitization lens. A discourse analysis is conducted on two policy documents from each international organization to analyze what language and security narrative the IOs employ in terms of climate migration. The research found that there are polarizing constructions of climate migrations between the two organizations: The Pacific Island Forum obtains a coherent human security perspective. At the same time, the European Union portrays climate migration as both a security risk to Europe and a human security concern for vulnerable populations. However, both organizations highlights adaptation and resilience as the primary management strategies, which suggests a de-securitization of the discourse. The thesis concludes that there are still asymmetrical power dynamics and unjust positions accounting for the polarizing attitudes, as the European Union externalizes vulnerability by contrasting itself from the vulnerable by “othering”, but also by presenting itself as a protector over the vulnerable people in the Global South.
Health Data Governance in the Era of Digital Health : Legal Approaches of the EU and China
No full textThis dissertation explores how legal frameworks in the EU and China respond to the growing tension between the use of health data and the protection of privacy in the digital health era. As technologies such as AI, wearable devices, and health-monitoring sensors increasingly reshape the delivery of care, legal systems face mounting pressure to support data-driven innovation while upholding individual rights. Through a comparative legal analysis of key instruments such as the EU’s GDPR, European Health Data Space (EHDS) Regulation, and China’s Personal Information Protection Law, the study examines how each jurisdiction regulates health data, defines the legal bases for its use, and integrates privacy-enhancing technologies like anonymisation. In doing so, it aims to generate insights into how law can address the shared global challenge posed by the dual demands of innovation and privacy in a society striving for better health
Peer opinion and the legitimacy of international organizations
No full textWhat effect, if any, does information about other people’s attitudes (peer opinion) have on legitimacy beliefs toward international organizations (IOs)? While previous research has identified multiple sources of IO legitimacy beliefs, it has so far overlooked the potential role of peer opinion. This article provides the first systematic analysis of peer opinion effects on people’s legitimacy beliefs toward IOs. To this end, it develops theoretical expectations about the effects of peer opinion and the conditions under which these effects are likely to be particularly strong. It tests these hypotheses through three survey experiments administered to nationally representative samples in Brazil, Germany, and the United States, each experiment evaluating one potential source of peer opinion: other survey participants, national polls, and social media threads. The article finds that peer opinion shapes legitimacy beliefs toward IOs across experiments and that this effect tends to be particularly strong when peer opinion is negative and reflects a high level of consensus. We also find peer opinion effects to be surprisingly stable under conditions of higher political awareness and elite cues working in the opposite direction. These findings suggest that people form legitimacy beliefs toward IOs through a process that is more social and horizontal than previously understood
Go Phish - Detecting Phishing Attacks with Prompt Engineered Large Language Models as Classification Tools
No full textThis thesis explores the feasibility of using Large Language Models (LLMs) to detect phishing attempts using large, publicly available data sets of emails, and focusing on quantitative measures of success rates. The study compares the accuracy of LLMs to that of state-of-the-art methods, such as machine learning models. This is done by employing prompt engineering to different degrees using state-ofthe-art, commercial LLMs to evaluate the success rate of correctly classifying phishing emails. Since LLMs are developing rapidly, understanding the performance of LLMs as tools to detect phishing attempts still requires further research, which makes up the problem statement of the thesis. By answering the research question: "How do current prompt-engineered Large Language Models perform compared to traditional Machine Learning models in phishing email detection?", the findings presented that today’s Large Language Models performed similarly to Machine Learning (ML) models. A F1 measure of 0.9793 was achieved by an LLM, compared to a 0.9891 value achieved by the comparative ML model. The value of revising prompts based on how the LLMs initially react was also proven to be effective, finding that a minor revision led to a 32 percentage point increase in performance. The thesis presents valuable information on the viability of using LLMs for cyber security measures, with the potential of being further explored with the use of more resources, financially, technically, and in terms of time
User Feedback Loops in Agile Software Development
No full textIntroduction: This study investigates real-world approaches to implementing user feedback loops in agile development and analyzes how teams address these challenges during this process. User involvement is a central principle within agile software development. However, there are many challenges associated with integrating continuous feedback from users. Understanding these challenges and identifying practical solutions is essential to improving agile processes. Research Questions: The study explores the problem using the following two research questions: (1) What common challenges in implementing user feedback loops have been identified in the literature? (2) How are solutions to improve user feedback loops in agile software development implemented in practice, and how are implementation challenges mitigated? Method: The research adopts a qualitative survey strategy, and the data were collected using semi-structured interviews with nine experienced, agile professionals. To ensure ethical standards, participants were informed of the research goals, confidentiality measures, and their right to withdraw at any time. The material was analyzed using thematic analysis to identify recurring patterns in the interviews. The literature review conducted at the start of the study was used to support and guide the interviews and analysis. Results: The results reveal that effective feedback loops rely on early and fast feedback collection, deep user involvement, careful interpretation and filtering of feedback, clear communication practices, and structured documentation supported by iterative ceremonies. Identified challenges such as delays, low user engagement, high workloads, and communication barriers were mitigated through techniques including targeted user groups, prototyping, dedicated intermediary roles like business analysts, and proactive communication. Discussion & Conclusion: The study provides a comprehensive overview of solutions and mitigation strategies and contributes by offering practical recommendations to agile teams that help improve their feedback mechanisms. Teams should focus on early feedback inclusion with real users and maintain strategic filtering of input. Future research could explore the long-term impact of different feedback loop strategies across various agile team structures or investigate how emerging technologies, such as AIdriven analytics, can further support feedback interpretation and prioritization
Who is responsible for AI’s decisions? A study on students’ view on the responsibility gap when using AI in decision making
No full textAs artificial intelligence (AI) becomes more common in areas like recruitment, healthcare, and self-driving cars, it raises questions about who should be held responsible when things go wrong. This thesis explores how bachelor level tech students think about responsibility in decisions influenced by AI. Through a focus group with six students from Stockholm University’s Department of Computer and Systems Sciences, we examined their views on accountability, transparency, bias, and ethics. The analysis followed a thematic approach and revealed four key themes: Responsibility and Accountability, Transparency, Bias, and Human Oversight in AI Ethics. The students believed that while AI can support decisions, humans, especially the users and companies using the tools, should remain responsible. Developers were also seen as partly responsible for making sure the tools are fair and accurate. Transparency was seen as important for trust, but participants also noted that too much technical detail can be confusing. The group also raised concerns about biased data and stressed the importance of human oversight. Overall, the findings show that responsibility should be shared between developers, users, and companies. The study highlights the need for clearer rules and guidelines to help ensure fair and ethical use of AI in decision-makin