This dissertation focuses on guarantees with a special emphasis on the option method of guarantee valuation. The existing domestic and international literature does not present a comprehensive debate on guarantee valuation with a sufficient discussion of the role of the guarantor. In addition, a minimal number of sources are devoted to the option valuation of guarantees applied to non-traded companies (and their structures) typical for the Czech Republic, which might inter alia have led to the marginal practical experience of the Czech valuation experts with the method. Following the identified blind spots of the current knowledge, the thesis primarily (i) presents coherent theoretical underpinnings of guarantee valuation, (ii) provides a proposed option valuation approach to guarantee valuation and (iii) demonstrates through a case study of the HAME holding an application of the proposed approach, including an evaluation of its strengths and weaknesses. Based on an analysis and synthesis of the domestic and international literature, a poll among the Czech valuation institutes and a numerical application on the historic HAME holding case, the author observes the following main findings: (i) on a theoretical bases, the option guarantee valuation method presents a plausible way of analysis, (ii) the proposed option valuation approach is applicable in the Czech praxis. Despite these positive prima facie findings, the option valuation approach shall be subject to further testing, comparisons with competing methods and improvements resulting from an increased number of its practical applications.

Made available in DSpace on 2017-06-01T18:18:40Z (GMT). No. of bitstreams: 1 paloma_mendes_saldanha.pdf: 16266745 bytes, checksum: 80405938181e167002987eb04b3013ef (MD5) Previous issue date: 2016-12-21 / This research aim is deconstructing the concept of juridical security from the Jacques Derrida deconstruction theory and the ideas of Wittgenstein II about designation of a meaning from a term use in specific situations, considering cyberculture and the technical risks associated with information society. For that, this study was based on literature review to define a juridical security concept to be deconstructed, and an empirical research with qualitative approach and exploratory objective aiming to know others electronic systems that is part of the brazilian judicial system, and to know security failures cases relating with brazilian electronic process standard system (Pje). The technology quality use was considered more important than the technology itself after observing negative behaviors, referring how man interact with technology. This interaction was placed as a social phenomenon that cannot be denied at the deconstruction moment. As a possible result, this work brings a perception about the real need of deconstructing juridical security concept in order to make these negative behaviors arising from "cracker" culture be faced and absorbed by Brazilian legal system and juridical culture, making juridical security to be seen as a synonymous of information security. / O presente trabalho propõe-se a desconstruir o conceito do princípio da segurança jurídica a partir da teoria da desconstrução de Jacques Derrida e das ideias de Wittgenstein II sobre a designação de um significado a partir do uso de um termo em situações específicas, levando em consideração o contexto da cibercultura e os riscos técnicos atinentes à sociedade da informação. Para tanto, o estudo foi realizado a partir de uma revisão de literatura para definir o conceito de segurança jurídica que seria desconstruído, acrescido de uma pesquisa empírica com abordagem qualitativa e objetivo exploratório com pesquisa de campo para conhecimento de outros sistemas eletrônicos que faz parte do Judiciário brasileiro, bem como para conhecimento de casos de falhas de segurança dentro do sistema padrão de processo eletrônico brasileiro - PJe. Assim, a qualidade de uso da tecnologia foi considerada mais importante que a tecnologia propriamente dita quando da observação quanto ao comportamento negativo, referente a interação do homem com a tecnologia, foi colocado como fenômeno de comportamento social que não pode ser negado no momento da desconstrução. Dessa forma, como resultado, a pesquisa traz a percepção quanto à real necessidade de desconstrução do conceito do princípio da segurança jurídica para que esses comportamentos negativos advindos da cultura cracker sejam absorvidos pelo ordenamento jurídico brasileiro, fazendo com que a segurança jurídica seja vista como sinônimo da segurança da informação tendo em vista a realidade de um Judiciário virtualizado.

The basic requirement for a good quality expert opinion are high quality sources of information, i.e. adequately detailed and valid groundwork. This dissertation analyzes groundwork for expert activities in the area of building operation appraisals, handling of information and its transmission within the life cycle of a construction. For this purpose, it is possible to divide the construction according to its functional parts. The thesis puts emphasis on drawing up a budget according to its functional parts, which is clearer for the investors, contractors and real estate administrators as well as the expert. A significant part of the dissertation is dedicated to recommendations on how to determine the usual price of building operations. In this section I define some options of how to determine the usual price of building operations, including their comparison. Likewise, I investigated and compared real agreed prices of building contracts for public commissions. The basic recommendation resulting from this chapter is the recommendation for the Czech statistics department to automate the data collection based on registers of building operations created with one of the budgeting programs (preferably according to functional parts). For the experts, I prepared a set of recommendations based on the analyzed differences between the budgeted prices and those applied in real contracts. There is no generally accepted method to evaluate the losses created due to delays in construction. For the purposes of this dissertation, I investigated the common prices of rent of the individual equipment and then established two approaches to put value on the cost of equipping the site, percentage rate and individual calculation. I examine in more detail the issues related to quantification of costs for wintertime arrangements. At the end of the chapter I define recommendations for experts. With regard to recommendations for establishing discounts from the construction price due to occurrence of defects and unfinished tasks, I analyzed real examples of distribution of defects and unfinished tasks at the moment of delivering the building operation to the investor and discovered that approximately 50% of defects are part of the surface working. Additionally, I analyzed the Czech technical regulations regarding surface working in order to find basis for assessment of the presence or absence of a defect. While investigating the approach to non-removable defects, I discovered incorrectly considered shelf life of waterproofing within the appraisal. Based on this, I investigated the market and determined the shelf life of common waterproofing systems. At the end of this dissertation I carry out a comparison of selected items of the two pricing systems most commonly used in the Czech Republic, URS and RTS. The differences are a result of contemplating using different technologies, varied mechanisms and diverse approaches to determine the costs of material.

Den kvalitativa studien har syftat till att undersöka handläggningen och verkställigheten av parboendegarantin i det svenska välfärdssystemet ur biståndshandläggare och enhetschefers perspektiv inom äldreomsorgen. Studien har givit en inblick i hur de yrkesverksamma med erfarenhet av parboendegarantin beskrivit samspelet mellan organisation, professionsetik och professionellt handlingsutrymme i etiska utmaningar som kan uppstå under handläggningen och verkställigheten. För att erhålla en fördjupad och nyanserad kunskap kring parboendegarantins process har åtta professionella från fem olika kommuner deltagit i intervjuer där resultatet visade att alla informanter uppfattade parboendegarantin som en mänsklig rättighet för äldre. I övrigt framkom likheter i hur etiska utmaningar hanterades gällande exempelvis besittningsrätt. Studien visade även på framträdande skillnader i verkställandet av parboendegarantin vilket gav slutsatsen att riktlinjer behövs. / The qualitative study aimed to explore the administration and execution of the cohabitation guarantee (parboendegaranti) in the Swedish welfare system through the perspective of the caseworkers and the branch heads within elderly care. The study provided the professionals perception of the interaction between organization, professional ethics and professional capacity for action regarding the ethical challenges that can occur processing the cohabitation guarantee. Acquiring the insight of the professional perspective the study was based on eight qualitative interviews with professionals from five Swedish municipalities that have experience with the cohabitation guarantee. The results showed that the professionals perceived the cohabitation guarantee as a human right for the elderly and similarities were found in methods to cope with ethical dilemmas such as the right to tenency after the death of a spouse. Significant differences in how the cohabitation guarantee was executed were found which led to the conclusion that guidelines are needed.

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Many scholars have researched on the effects of individual mediation strategy following the categorization by Touval and Zartman (1985), and Bercovitch (1991). Despite the growing recognition of the potential synergetic effects among different strategies, not many systematic studies have been done on that aspect. This thesis contributes to this understudied aspect of mediation approach by asking What is the impact of mediation strategy on quality peace after civil war? The study adopts the method of structured, focused comparison along with the detailed process tracing on four cases of peace agreements and their mediation process from Northern Ireland, Mindanao, Bosnia and Herzegovina, and Niger. The study aims to test a theoretical argument linking combined-application of mediation strategies with high quality peace. The empirical findings provide a modest support to hypothesis and a weak support to the causal mechanism, as not all cases, having applied all three strategies, have achieved high quality peace and have promoted third-party guarantee and inclusivity. While the empirical findings point to other contextual factors that may affect the peace agreement implementation, the findings also indicate a potential promising mediation approach that combines directive strategy either with communicative-facilitative or procedural strategy putting more weight on the latter strategy.

Vi undersöker tillgångsrecognition vid återköpsavtal med garanterade restvärden, och hur köpare kan redovisa transaktionen för en materiell anläggningstillgång när avtalet innehåller en återköpsoption. Studien behandlar frågan om kontroll över tillgångar, konsekvenser av koherens respektive inkoherens för finansiella rapporters användbarhet, samt huruvida redovisningen reflekterar återköpsavtals ekonomiska substans. Vi genomför en innehållsanalys för att systematiskt kartlägga köparens olika redovisningsalternativ. Vidare används typfall för att möjliggöra analys av identifierade standarder och riktlinjers tillämpning. Vi finner att IFRS saknar transaktionsspecifika riktlinjer som riktar sig mot köparen. De standarder och riktlinjer som i det principbaserade redovisningssystemet finns tillgängliga för tolkning är vaga, i den bemärkelse att de lämnar utrymme för olikheter i bedömningar, vilket i sin tur har en negativ effekt på finansiella rapporter jämförbarhet och användbarhet. Vidare identifierar studien bristen på tydliga riktlinjer som en risk för medveten manipulation och förekomst av earnings management. / We examine asset recognition for repurchase agreements with guaranteed residual values, and how buyers can account for the transaction for a tangible fixed asset when the contract contains a repurchase option. The study deals with the issue of control over the asset, the consequences of symmetry and asymmetry for the usefulness of financial reports and whether the accounting reflects the financial substance of repurchase agreements. We conduct a content analysis to systematically map out the buyer's different accounting options. Furthermore, typical cases are used to enable analysis of identified standards and guidelines. We find that IFRS lacks transaction-specific guidelines that target the buyer. The standards and guidelines that are available for interpretation in the principle-based accounting system are vague in that they leave room for differences in assessments, which in turn have a negative effect on comparability and usefulness in financial reports. Furthermore, the study identifies the lack of clear guidelines as a risk of deliberate manipulation and the occurrence of earnings management.This paper is written in Swedish.

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Bygg- och fastighetssektorn står för cirka 20 procent av Sveriges totala växthusgaser. I taktmed att regeringen ställer allt högre krav för att minska utsläppen så har byggbranschen enlång väg kvar att gå. Sektorn behöver ställa om och minska sitt utsläpp för att klimatneutralitetår 2045 skall komma att bli verklighet.Ett sätt i rätt riktning är att material återbrukas i nya projekt istället för att slängas i containraroch därmed aldrig komma till användning. I denna rapport kommer projektörer ochbyggchefer som gjort ett aktivt val att inte köra iväg återbrukbart material lyftas. Derashistorier kommer att genomsyra denna rapport för att skapa ett incitament förmaterialåterbrukets förmåga att inte bara skapa nya historier på nya platser men också för atthjälpa sektorn och kommande generationer för en klimatsmartare planet.Syftet med arbetet är att ta reda på vilka byggnadsmaterial och inventarier som Skanska kan fåmest nytta av att återanvända samt betrakta den lönsamhet dessa byggnadsmaterial skulle geom de selektivt kunde återanvändas.Vidare i studien presenteras rådande utmaningar som föreligger för att material ska kunnaåterbrukas. Några exempel som denna rapport vidrör är garantier och kvalitéer för diversematerial och processförändringar som Skanska står inför. Fortsättningsvis krävs att innovativalösningar och att det finns engagemang från start för att återbruk ska fungera i samtligaprojekt. / The construction sector accounts for approximately 20 percent of Sweden's total greenhousegasses. As the government sets ever higher requirements to reduce emissions, the constructionindustry has a long way to go. The sector needs to adjust and reduce its emissions in order forclimate neutrality to become a reality in 2045.One way in the right direction is for materials to be reused in new projects instead of beingthrown into containers and thus never being used. In this report, designers and constructionmanagers who have made an active choice not to drive away reusable material will behighlighted. Their stories will permeate this report to create an incentive for materialsrecycling's ability to not only create new stories in new places but also to help the sector andfuture generations for a climate friendly planet.The purpose of the work is to find which building materials and fixtures that Skanska canbenefit from reusing as well as consider the profitability these building materials wouldprovide if they could be selectively reused.Furthermore, the study presents current challenges that exist in order for materials to bereused. Some examples that this report touches on are guarantees and qualities for variousmaterials.Reuse can become a reality in the future if the projects come up with more innovativesolutions and involvement from the start of the project for reuse to be efficient.

The thesis deals with the topic of bank guarantees in the construction industry focusing on the contractor of the construction commission. The aim of this paper is the definition of bank guarantees in legal and economic terms, and on the basis of available literature, and also a proposal for the application of a bank guarantee in construction contracts. This thesis includes an overview of the products offered by national bank institutions in the field of bank guarantees and their comparison. The thesis contains an overview and description of bank guarantees used in the construction industry. The thesis focuses on a bank guarantee for the proper execution of the work (for the correct execution of the contract for work). There is described the progress of the guarantee from the contract for work until the warranty exercise and any dispute over the amount paid under the guarantee. Further, the paper deals with the use of bank guarantees in practice from the point of view of construction companies, focusing on the guarantee for the proper execution of the work. The thesis also describes solutions in the field of bank guarantees of construction companies, ways of surety, credit limits and bank charges for bank guarantees. In conclusion, there are described terms of the bank guarantee in the contract for work for the specific construction contracts and a method of preparation of the bid price for the contract with regard to where the cost appears applying the bank guarantee at the contractor's bid price. The contribution of this thesis is a comprehensive overview of bank guarantees in the construction industry and their application intended for a contractor of the construction commission.