The main objectives of this diploma thesis are to introduce the building information model as an effective tool, helping at work with the buildings throughout their lifecycle and to consider its use for real estate valuation, from the point of view of individual valuation methods, used in Czech Republic. The real estate valuation methods and the functional principles of building information model, as well as its features, are described in the first part of the thesis. In addition, the first part of the thesis also deals with the model implementation conditions in selected countries of the world. The second part of the document contains consideration for model usage in the valuation practice. A practical demonstration of working with the model is also included in this thesis.

The Action Plan on Building a Capital Markets Union (‘CMU’) in the European Union (‘EU’) was launched by the European Commission in 2015. It aims to pursue a further development and integration of European capital markets by 2019. However, in the wake of the global financial crisis of 2007–09 and the Eurozone crisis, it is proven that appropriate governance is indispensible to underpin such integrated markets. Therefore, in order to establish a solid CMU, this thesis attempts to answer one crucial question: ‘whether investment conduct should be supervised centralisedly at the European level in the CMU’. This thesis, at first, explores the regulatory system of investment conduct in the EU to date, with particular emphasis given to the competence allocation between the EU and Member States (and between Member States). Two findings are important: first, even though the rules of investment conduct are harmonised to a large extent in the EU, supervisory issues still matter to investment intermediaries and their clients in cross-border transactions; and, second, the current supervisory system of investment conduct in the EU might bring significant costs in cross-border transactions, but this does not necessarily mean that the installation of a single supervisor in charge of investment conduct supervision is inevitable in the CMU. This thesis then examines the proposed single supervisor in detail, with an aim to find out the optimum institutional governance of investment conduct in the CMU. Based on the transaction cost approach, this thesis compares the proposed single supervisor and the current system from the perspectives of private law systems and administrative regulation respectively. From the perspective of private law governance, it is undeniable that many issues of private law in governing investment conduct are still unclear and complex in the EU, but the proposed single supervisor provides little help to these issues. By comparison, a non-mandatory pan-EU alternative dispute resolution (‘ADR’) for cross-border disputes of investment conduct might be a better option in reducing transaction costs in the CMU. From the perspective of administrative governance, the proposed single supervisor may also be difficult to pass the EU Treaty principles of subsidiarity and proportionality. This is because the total transaction costs of European capital markets will not decrease (but even increase) after the introduction of the proposed single supervisor. It is further argued that, other than the establishment of the proposed single supervisor, policymakers have to pay more attention on how to ensure the current network-based system functions effectively in the CMU. In the light of this, not only a negative answer of the research question is concluded, but also policy recommendations for designing the optimum governance of investment conduct in the CMU are given in this thesis.

This diploma thesis is focused on the estimation value of the family house in the area of Slezská Ostrava. In the first part of the thesis, theoretical background is defined. Theoretical background describes the terms closely related to the issue of valuation and valuation methods that are applied to the family house. The next part consists of the description of the area, identification of the land, and the essential information about the family house from the construction and layout perspective. Furthermore, the thesis provides the description of the market in the area, as well as the database of comparable objects. The database of comparable objects was created, in order to determine the estimated market value of the property. Moreover, the cost price of the family house is assigned by using an itemized budget and cost method in accordance with the established regulation for valuation. Likewise, the correction proposal was created by estimating the coefficient for an atypical construction of the family house. In the conclusion of the thesis, the price shares of constructions stated in the valuation decree are compared with the price shares obtained from cost valuation methods.

The aim of this diploma thesis is to appraise the construction using the BIM model with cost approach. The work deals with the introduction of BIM, a description of history, implementation and the need for BIM in construction. Furthermore, the work contains a description of valuation methods with a special focus on the cost approach. A 3D model of a family house was created for the purposes of the diploma thesis. The subject property was valued by several cost approach methods - appraisal using technical and economic indicators, item budget, cost approach in BIM. The thesis contains a description of the procedure for valuation using BIM and assessment of prices of all appraise methods.

<p>Background: Today, an increased need to value patents is expressed in several different situations. For example, banks more frequently accept patents as collateral for loans and patents are being exchanged more often between companies. It is argued that a hindrance for the recognition of the value of patents, and other assets lacking physical form, is that the current methods of valuation are not developed for this type of assets. </p><p>Purpose: Our objective is to investigate the practical relevance of four theoretical valuation approaches in the context of patent valuation and to point out crucial factors affecting the choice of valuation approach. </p><p>Procedure: Interviews were conducted with professionals working in the field of corporate finance and with an expert in the field of patents and intellectual property rights. </p><p>Results: The respondents are not of the same opinion whether relevant approaches for patent valuation exist at all. Among the respondents who find it possible to value patents, the income approach is the dominating approach. The theoretical correctness of this approach, derived from the definition of value, is stressed as the primary argument for the use of it. Methods such as Decision Tree Analysis, within the income approach, and Relief from Royalty, a hybrid of the market- and income approach, are used as complements.</p>

Background: Today, an increased need to value patents is expressed in several different situations. For example, banks more frequently accept patents as collateral for loans and patents are being exchanged more often between companies. It is argued that a hindrance for the recognition of the value of patents, and other assets lacking physical form, is that the current methods of valuation are not developed for this type of assets. Purpose: Our objective is to investigate the practical relevance of four theoretical valuation approaches in the context of patent valuation and to point out crucial factors affecting the choice of valuation approach. Procedure: Interviews were conducted with professionals working in the field of corporate finance and with an expert in the field of patents and intellectual property rights. Results: The respondents are not of the same opinion whether relevant approaches for patent valuation exist at all. Among the respondents who find it possible to value patents, the income approach is the dominating approach. The theoretical correctness of this approach, derived from the definition of value, is stressed as the primary argument for the use of it. Methods such as Decision Tree Analysis, within the income approach, and Relief from Royalty, a hybrid of the market- and income approach, are used as complements.

This article shows the relationship between market and firms through the theory of transactional cost and the relationsthat determine the structure and boundaries of the firm. Using the assumptions from the transactional cost approach,this article proposes some variables that determine optimal organizational structures and their boundaries. / Este artículo muestra la vinculación entre mercado y empresas por medio del enfoque de los costos de transacción, y lasrelaciones que influyen en la determinación de la estructura y los límites de la empresa. Mediante el uso de los supuestosde la teoría de los costos transaccionales, el artículo propone algunas variables que determinan estructuras organizacionalesóptimas y sus respectivos límites.

The thesis deals with comparison of selected methods applicable in valuation of hotels. Methods are applied to the valuation of a particular hotel. The hotel is valued by the cost method, comparative methods, income methods and other methods used in the valuation of hotels. The results are compared, any differences are analyzed. Valuation of the hotel is based on financial analysis, strategic analysis, forecast of value drivers and financial plan.

The thesis serves as a comparison of valuation processes, which are being used in the CZ and the US. It brings information about appraisal practice in the CZ and the US. It describes individual valuation approaches and definitions of important variables according to the available literature. Moreover, the thesis focuses deeper on market approach valuation. It shows differences in individual processes and approaches on the application of processes on selected example and then uses obtained differences to determine recommended changes. In shows different structures of appraisal reports in the conclusion too.

This diploma thesis deals with the assessment of the influence of the location in the historic zone on the price of a commercially usable building. The thesis includes the elaboration of the current legal regulations influencing the property valuation, the definition of basic concepts related to the valuation of a selected real estate, and the determination of methods usable in the process of commercial object valuation. Furthermore, the cities of Třebíč, in which the valued property is located, and Žďár nad Sázavou, that is used for comparison, are described in detail. The selected method is a combination of the cost and income approach for valuation according to the price regulation, and in the case of market valuation of seloected real estate, the method of direct comparison is used. Finally, the influences that may have an impact on the object value are assessed.