Ok I know this message was posted 12 years ag, but I'm answering here because it features very high in a google search for this issue.
Hot start issues are common on Volvo 940, happily they are easy to diagnose and fix.
If the car starts perfectly when cold, but refuses to start when hot (often after a short stop) the it's almost certainly one of three components. 1/ The Fuel Pump relay, located behind the ashtray, cheap to replace.
2/ The RSR Relay, often next to coolant tank. This provides power to the fuel system when starting.
3/ The crank position sensor. All three components can fail on older volvo 940s and cause hot start issues, it's good preventative maintenance to just change all three and be done with it.
If the car starts after a long time cranking and then runs rough for a while then it's most likely the fuel pressure regulator. Again this is cheap and easy to replace.
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