Foundations and endowment funds, being a part of the non-profit sector, have their integral place in the civil sector of the Czech Republic. The main mission of foundations and endowment funds is to achieve public benefit which, under the current legislation, foundations achieve primarily by providing grants to third parties. However, they can only fulfil such purpose if they have a sufficient income. This paper aims to summarise the theoretical and practical possibilities of obtaining financial resources by foundation entities and their classification. The paper is largely influenced by the recodification of private law; upon the new Civil Code coming into effect on 1 January 2014, there will be a significant liberalisation of the foundation law and the legislation applicable to foundations and endowment funds will be completely transferred to the new legal regulation under the umbrella term "foundation". The introductory part of the paper summarises the present and future legislation applicable to foundation entities, defines their position in the civil sector, and discusses the historical development that had an impact on the current funding of foundations and endowment funds. The second part of the paper classifies foundation entities by various criteria, since it is primarily the typology of...

ABSTRACT Government departments in the Republic of South Africa do not have access to unlimited funds and therefore have to manage allocated financial resources effectively and efficiently. The South African Police Service (SAPS) KwaZulu-Natal Province, fuel and oil budget has been overspent by 14 million rand, on average for 2007/2008 and 2008/2009 financial book years (SAPS Annual reports for 2007/2008 and 2008/2009). The overarching aim of the current study was to contribute to more effective and efficient fuel and oil management in the SAPS KwaZulu-Natal Province by answering the following research questions and make practical recommendations based on the findings of the study: i)Are SAPS KwaZulu-Natal station commissioners adequately knowledgeable of SAPS policies and procedures in relation to fuel and oil management? ii)How do SAPS KwaZulu-Natal station commissioners perceive police officials manage fuel and oil within the SAPS compared to their privately owned vehicles? Two valid and reliable measuring instruments were developed and administered to a representative sample (66/183) of all station commissioners in the SAPS KwaZulu-Natal Province: a)A 20-item SAPS fuel and oil management knowledge test; and b)A 19-item self-report perception questionnaire that measures SAPS fuel and oil management perceptions of SAPS station commissioners. The study amongst others found that SAPS KwaZulu-Natal station commissioners believe that police officials do not find it important to treat state vehicles the same way as they treat their private vehicles. The study also found that the SAPS station commissioners that participated in the study, in general, did not have a 100% knowledge base (memory) (as required by SAPS Top Management) of SAPS Special Force Order (General) 3A of 1987 that relates to effective and efficient fuel and oil management, West Bank procedures, and other SAPS policies that guide effective and efficient management of fuel and oil in SAPS. The study amongst others recommended that all SAPS KwaZulu-Natal station commissioners and their respective subordinates be outcome-based oriented, assessed, and held accountable in terms of SAPS policies and guidelines on the effective and efficient management of fuel and oil.

The diploma thesis deals with the financial resources of municipal authorities with the intention on so called repayable financial resources. Repayable financial resources represent significant component for financing short-term and long-term projects of municipal authorities and serve as an important financial instrument for the development of municipal territory. The aim of the thesis is to evaluate forms and potentials of using repayabe financial resources by municipal authorities and also to consider the restriction to use repayable financial resources reflecting the state efforts to regulate the indebtedness of municipal authoritis. The evaluation of repayable financial resources is based on a questionnaire inquiries which was realized within municipal authorities of the Czech Republic. The questionnaire answers the questions of using repayable funds, their most frequent forms, and risk aversion of the municipal authorities.

This thesis explores how the resources of marketing capabilities, business networks, and financial resources, influence the marketing approach of international new ventures. Building on the resource based view, the market entry of firms and how they compete is analyzed by exploring the resources and capabilities of INVs. By using a qualitative research method, this thesis identifies the three resources of marketing capabilities, business networks, and financial resources to be highly influential for INVs’ marketing approach. Also there has been shown to be a synergetic effect between the resources, and that the cross-industrial and cross-business type sampling did not entail any divergences, but rather similar patterns. Four main findings can be identified as a result of our analysis. First, market knowledge prior to internationalization is shown to be key. Second, the creation of trust through transparency in business networks spark business network opportunities and long-term relationships. Third, utilizing technological tools for marketing endeavors becomes highly efficient. Fourth, tackling financial limitations through the implementation of a low-cost strategy is shown to be essential. The findings of this research has great potential of contributing to managerial practice when working with marketing aspirations, as well as being a starting point for future research in the field of INVs and the resource based view theory. The study has limitations in regards to the scope of the research.

The aim of this dissertation is to describe socioeconomic development of Central - Bohemian region and one of the Operational program, which is the Joint Regional Operational Programme (JROP). It contains the comparison of the chosen demographic and socioeconomic indicators during the period 2000-2009 and the benefits of JROP in the Central - Bohemian region. The dissertation is divided into two main parts. In the first one is presented Central - Bohemia region, and the description of the covered indicators, e.g. the structure of the inhabitants in detail of sex and age, natality, structure of abortions, marriages, divorces, migration, and the measurement of these indicators. Further, the basic socioeconomic parameters as the labor market and the associated unemployment, trend of the GDP, transport infrastructure, and opportunities in tourism are described, followed by description of particular Priorities of the operational program. In the analytical part, the comparison and evaluation of the covered indicators in detail of districts in Central Bohemia Region and successfulness of JROP priority axis covering all the Central Bohemian Region is included. Successful projects, amount of paid financial sources to final beneficiaries in detail of particular regions according to priorities.

This diploma thesis deals with deep cultivators which are used in companies of agricultural production. Theoretical part is focused on the history of soil proccessing, soil treatement and loosening machines which are being used today. That includes disc cultivators, tine cultivators, chisel cultivators, rod cultivators and machines with driven work gears. Practical part of theses includes comparison of chisel cultivator and plough doing tillage. The quality of keeping the depth invariable is being evaluated, as well as time-consuming nature, consumption of fuel and drain on resources.

Made available in DSpace on 2016-07-27T13:52:50Z (GMT). No. of bitstreams: 1 ANA MARIA GONCALVES DE SOUSA.pdf: 2251968 bytes, checksum: 24fd96a975fa7c95aa0712979507790d (MD5) Previous issue date: 2001-08-28 / This paper focuses on FUNDEF as the provider of financial resources for education and intends to identify, verify and analyze the most visible effects of its application in the towns of Cezarina, Inhumas, Senador Canedo and Teresópolis de Goiás in 1998 and 1999. These towns were chosen through a process that considered factors like municipal income, political emancipation time, area, population, location, number of municipal schools, the mayor s political party and others. The research was carried in distinct but connected phases. The first one was an initial exploratory documental and bibliographical analysis. The second phase was the field research done through interviews, o observations and forms aimed at data gathering which, in a third phase, were analyzed considering the theoretical bases and the author s personal experience on the field. The following effects were verified betterment of the teaching profession by the implantation of a legal career plan and increased and punctual payments; improvement of the teachers professional abilities by agreements among the municipalities, the State of Goiás and the educational institutions mainly UEG; school buildings and school transportation systems restructured; teaching decentralization by power sharing although not at the same level in all the researched towns; weak social control over the educational financial resources by the community who did not use the control systems due to a lack of knowledge, alienation or power centralization; disregard of the law by the fiscal and documental officials and strong discrepancies between personally and officially gathered data. / Este trabalho enfoca o FUNDEF como fonte dos recursos financeiros educacionais pretendendo identificar, verificar e analisar os efeitos mais visíveis de sua aplicação em 1998/1999 nos municípios goianos de Cezarina, Inhumas, Senador Canedo e Teresópolis de Goiás. Esses municípios foram escolhidos por um processo que considerou fatores tais como: arrecadação municipal, data de emancipação, área, população, localização geográfica, número de escolas municipais, vinculação partidária do executivo e outros. O percurso metodológico desdobrou-se em fases distintas e interrelacionadas. A primeira constituiu-se de análise exploratória documental e bibliográfica e a segunda de pesquisa de campo realizada mediante entrevistas, observações e uso de formulários para coleta de dados, culminando no terceiro momento de análise dos dados obtidos, norteada pelo referencial teórico e pela experiência de campo. Constataram-se os seguintes impactos: valorização do magistério via implantação do plano de carreira e aumento salarial pago em dia; capacitação dos professores mediante convênios entre municípios, Estado e entidades educacionais, sobretudo, com a UEG; prédios escolares e sistema de transporte reestruturados; descentralização do ensino por meio da municipalização, embora sem a mesma intensidade nos municípios pesquisados; incipiente controle social dos recursos financeiros educacionais pela comunidade que não se valia de mecanismos de controle por desconhecimento, alienação ou centralização do poder; inobservância à legislação pelo controle documental e contábil e discrepâncias marcantes entre os dados estatísticos obtidos in loco e os oferecidos pelas fontes oficiais.

The purpose of this thesis is analysis process of increasing financial resources on the foreign exchange market. This thesis is devided into two parts. Firts part gives basic information about foreign exchange market. Operative part contains analysis steps of entering into foreign exchange market and trading system aplied in real market.

A emissão de American Depositary Receipts tem gerado um amplo conjunto de estudos na área de finanças. Por se relacionar com diferentes aspectos deste ramo de pesquisas, e tendo ligações tanto com temas clássicos de finanças corporativas e estrutura de capital, quanto com temas mais recentes, como as finanças comportamentais, a internacionalização das fontes de financiamento tem sido abordada com freqüência por autores que procuram compreender as razões para a emissão destes títulos. O presente trabalho analisa o impacto da emissão de ADRs sobre a estrutura de capitais de empresas brasileiras. A análise envolveu quatro aspectos principais, sendo abordada a relação entre a emissão de ADRs e o grau de alavancagem financeira, uso de dívidas em moeda estrangeira, retornos das ações e volatilidade dos retornos. Usando uma amostra de 81 empresas (63 emissoras e 18 empresas no grupo de controle), não foi possível verificar qualquer efeito significante da emissão sobre a alavancagem financeira das empresas emissoras, mas verificou-se uma significante relação entre a emissão de ADRs e um aumento no uso de dívidas em moeda estrangeira. Quanto ao capital próprio, a emissão de ADRs, quando analisada por um modelo sem variáveis de controle, parece ter influenciado os retornos das ações, que diminuíram após a emissão, sinalizando uma consistente redução no custo de capital próprio. Entretanto com a aplicação de modelos com variáveis de controle não foi possível verificar qualquer relação significante. A volatilidade dos retornos por sua vez, mostrou resultados ambíguos, sendo afetada ou não pela emissão dos ADRs de acordo com o modelo de teste empregado. Os resultados encontrados em parte corroboram resultados anteriores que elegiam como motivação principal, senão única, para a emissão de ADRs modificações no comportamento do capital próprio, entretanto aponta uma outra possível razão no aumento do endividamento em moeda estrangeira, o que pode sinalizar que a internacionalização seria intentada de modo a permitir substituição de dívidas em moeda local por outras formas de endividamento. / The issuance of American Depositary Receipts has generated a broad set of researches in finance. Due to its relationship with different aspects of financial research, including corporate finance, capital structure and behavioral finance, the subject has been frequently analyzed by authors who intend to understand the reasons behind this type of issuance. This Thesis analyzes the issuance of ADRs by Brazilian firms, and its impact on capital structure of the issuers. The analysis involved four main aspects, and addressed the relationship between the issuance of ADRs and the degree of financial leverage, use of debt in foreign currency, stock returns and volatility of returns. Using a sample of 81 firms (63 issuers of ADRs and 18 firms in a control group), it was unable to verify any significant effect of the issue on the financial leverage of the companies, but there was a significant relationship between the issuance of ADRs and an increase in the use of debt in foreign currency. When analyzed with a model without control variables, the issuance of ADRs seems to influence the returns of shares, which fell after the issuance, signaling a consistent reduction in the cost of equity. However with the introduction of control variables could not verify any significant relationship. The volatility of returns showed ambiguous results, being affected by the issue of ADRs in some models of test and not systematically affected in others. The results partly corroborate previous results that showed as the main motivation for the issuance of ADRs the expected fall in the cost of equity capital, however highlighting another possible reason in the increase in the use of debt in foreign currency, which may signal that the internationalization would be brought to allow replacement of debt into local currency by other forms of debt.

A emissão de American Depositary Receipts tem gerado um amplo conjunto de estudos na área de finanças. Por se relacionar com diferentes aspectos deste ramo de pesquisas, e tendo ligações tanto com temas clássicos de finanças corporativas e estrutura de capital, quanto com temas mais recentes, como as finanças comportamentais, a internacionalização das fontes de financiamento tem sido abordada com freqüência por autores que procuram compreender as razões para a emissão destes títulos. O presente trabalho analisa o impacto da emissão de ADRs sobre a estrutura de capitais de empresas brasileiras. A análise envolveu quatro aspectos principais, sendo abordada a relação entre a emissão de ADRs e o grau de alavancagem financeira, uso de dívidas em moeda estrangeira, retornos das ações e volatilidade dos retornos. Usando uma amostra de 81 empresas (63 emissoras e 18 empresas no grupo de controle), não foi possível verificar qualquer efeito significante da emissão sobre a alavancagem financeira das empresas emissoras, mas verificou-se uma significante relação entre a emissão de ADRs e um aumento no uso de dívidas em moeda estrangeira. Quanto ao capital próprio, a emissão de ADRs, quando analisada por um modelo sem variáveis de controle, parece ter influenciado os retornos das ações, que diminuíram após a emissão, sinalizando uma consistente redução no custo de capital próprio. Entretanto com a aplicação de modelos com variáveis de controle não foi possível verificar qualquer relação significante. A volatilidade dos retornos por sua vez, mostrou resultados ambíguos, sendo afetada ou não pela emissão dos ADRs de acordo com o modelo de teste empregado. Os resultados encontrados em parte corroboram resultados anteriores que elegiam como motivação principal, senão única, para a emissão de ADRs modificações no comportamento do capital próprio, entretanto aponta uma outra possível razão no aumento do endividamento em moeda estrangeira, o que pode sinalizar que a internacionalização seria intentada de modo a permitir substituição de dívidas em moeda local por outras formas de endividamento. / The issuance of American Depositary Receipts has generated a broad set of researches in finance. Due to its relationship with different aspects of financial research, including corporate finance, capital structure and behavioral finance, the subject has been frequently analyzed by authors who intend to understand the reasons behind this type of issuance. This Thesis analyzes the issuance of ADRs by Brazilian firms, and its impact on capital structure of the issuers. The analysis involved four main aspects, and addressed the relationship between the issuance of ADRs and the degree of financial leverage, use of debt in foreign currency, stock returns and volatility of returns. Using a sample of 81 firms (63 issuers of ADRs and 18 firms in a control group), it was unable to verify any significant effect of the issue on the financial leverage of the companies, but there was a significant relationship between the issuance of ADRs and an increase in the use of debt in foreign currency. When analyzed with a model without control variables, the issuance of ADRs seems to influence the returns of shares, which fell after the issuance, signaling a consistent reduction in the cost of equity. However with the introduction of control variables could not verify any significant relationship. The volatility of returns showed ambiguous results, being affected by the issue of ADRs in some models of test and not systematically affected in others. The results partly corroborate previous results that showed as the main motivation for the issuance of ADRs the expected fall in the cost of equity capital, however highlighting another possible reason in the increase in the use of debt in foreign currency, which may signal that the internationalization would be brought to allow replacement of debt into local currency by other forms of debt.