Master´s thesis is focused on efficiency analysis of two investment projects of the company JKZ Bučovice, a.s. These investments are aimed at purchase of modern technologies which extended manufacturing capacity of the company and which increased the added value of products for customers. The first part includes theoretical knowledge of investment and investment actiities and also defines the possible methods of evaluation. The second part describes the company, investments projects and there is also analyzed the financial situation. The next part shows calculations associated with the investment project efficiency. The conclusion will provide evaluation of projects and formulation of possible propositions for next investment projects.

Выпускная квалификационная работа (магистерская диссертация) посвящена исследованию бизнес-планированию на российских предприятиях. Предметом исследования выступают экономические (денежные) отношения, возникающие в процессе формирования и реализации инвестиционного проекта на промышленном предприятии. Основной целью магистерской диссертации является разработка комплексной концепции бизнес-планирования на российских предприятиях на основе развития теории и методологии финансового планирования на примере регионального субъекта бизнеса, выявление проблем и разработка путей их решения. / Final qualifying work (master's thesis) is devoted to the study of business planning in Russian enterprises. The subject of the study are the economic (monetary) relations arising in the process of formation and implementation of the investment project in an industrial enterprise. The main purpose of the master's thesis is to develop a comprehensive concept of business planning in Russian enterprises on the basis of the development of the theory and methodology of financial planning on the example of a regional business entity, identifying problems and developing ways to solve them.

Магистерская диссертация состоит из введения, трех глав, заключения, списка литературы и приложения. В первой главе приведена общая характеристика объекта исследования. Во второй главе проведен анализ рынка объекта исследования с определением сегмента рынка, уровнем арендных ставок на аналогичные помещения, определением наиболее эффективного использования объекта. В третьей главе произведена оценка эффективности инвестиций в проект, его экономическое обоснование и расчет эффективности проекта. В заключении сформулированы основные выводы и обобщены результаты исследования. / The master's thesis consists of an introduction, three chapters, a conclusion, a list of references and an Appendix. The first Chapter provides a General description of the object of study. In the second Chapter, the market analysis of the object of study with the definition of the market segment, the level of rental rates for similar premises, the definition of the most effective use of the object. The third Chapter assesses the effectiveness of investments in the project, its economic justification and calculation of project efficiency. In conclusion, the main conclusions are formulated and the results of the study are summarized.

本篇論文的主要目的是檢測會計師是否會影響其客戶投資效率。本研究以2007至2016年間的中國上市公司為樣本，實證結果顯示:（1）事務所層級的產業專家對客戶投資效率有積極影響。（2）會計師個人、事務所皆為產業專家時相對於非產業專家可以提高其客戶的投資效率且其對客戶的投資效率的影響大於單一產業專家。（3）會計師個人、事務所皆為產業專家時，對於國有企業投資效率的影響小於非國有企業。綜上會計師在提高客戶的投資效率方面起著至關重要的作用。 / The objective of this thesis is to examine whether the auditors affect the investment efficiency of its client. Using a sample of Chinese listed firms during 2007~2016, I find that: (1) Audit-firm-level industry expert is positively associated with its clients’ investment efficiency. (2) Industry expert at both firm and partner levels has stronger effect on investment efficiency than industry expert, either at firm-level alone, or at partner level alone. (3) When auditors are industry expert at both firm and partner levels, the effect of industry expertise on investment efficiency is more pronounced for non-state-owned enterprises than state-owned enterprises. In sum, auditors play a critical role in enhancing firm’s investment efficient.

本文探討分析師追蹤行為及分析師特性對其客戶投資效率的影響，並進一步研究分析師對國有與非國有企業的不同影響。本文以2007-2016年中國滬深證交所上市公司為樣本。實證結果發現，分析師追蹤及有較多的分析師追蹤，明星分析師追蹤及有較多的明星分析師追蹤，分析師預測公司數量較多都能提高其追蹤的上市公司的投資效率。本文進一步研究發現，分析師預測公司家數越多，其追蹤的國有企業的投資效率要高於非國有企業；並且，在分析師追蹤下，地方企業的投資效率要高於中央企業。然而，並沒有顯著證據能夠證明在分析師的追蹤下，非國有企業的投資效率高於國有企業。總結上述，分析師在資訊傳遞方面扮演著重要的角色，有助於降低企業資訊不對稱，從而對企業投資效率產生正面的影響。 / The objective of this thesis is to examine the association between forecasts behaviors and the covered firms’ investment efficiency. Using a sample of Chinese listed firms from 2007 to 2016, the empirical results can be summarized as follows. The presence of analyst following improves the investment efficiency of listed companies; the effect increases with the number of analysts following. Second, my results are stronger for firms with star analysts following than those without such analysts; more star following leads to greater improvement in investment efficiency. Thirdly, the effect of the number of analysts is more pronounced for stated-owned enterprise (SOE) than non-stated-owned enterprise (non-SOE). Further analyses indicate that for SOE, the presence of analysts following on investment efficiency is stronger for local SOE than for central SOE.

The aim of my diploma thesis is the valuation of investments to reduce operating costs at the National Theatre. For the valuation I used the discounted cash flow approach in the alternative with FCFF and FCFE. I also evaluated the effectiveness of the investment based on static and dynamic methods. In the theoretical part, I focused on the description of valuation approaches and methods used for the valuation of investment efficiency.

Thesis „Production Process Analysis in Selected Enterprise” is focused on specific production processes especially their description, possible changes and subsequent evaluation of impact of changes. It includes theoretical bases for production processes, their improvements and investments to production processes. Moreover there are included methods of investment business evaluation and mathematical modeling. Selected company and specific selected process that theoretical methods are applied upon in Maple is in practical portion.

This master’s thesis analyze and assesses the investment project of SAKO Brno and its own effectiveness. The first part includes theoretical knowledge of investment practices, procedures and possible methods of evaluation. The second part is devoted to familiarization with the company and the investment project "Waste Management Brno". In addition, financial analysis and calculations associated with the investment project. The conclusion will assess whether the project is profitable, when will it return and formulation of possible measures for other investment projects.

The aim of this diploma thesis is to evaluate the economic efficiency of investment based on particular investment project of solar power plant through various economics methods. The basic economics methods of investment efficiency, among these methods can be found static methods as well as dynamic ones that respect the time factor. Among the most important indicator evaluating investment efficiency belongs net present value, internal rate of return and pay-off period. Last but not least, the possible risks connected with the implementation of the investment and their impacts on total efficiency are identified and preventive precautions are recommended.

Цель исследования – опираясь на теоретические и практические основы управления стартапами, разработать модельный подход для повышения эффективности управления стартапами за счет разработки и внедрения информационных систем распределения внутренних инвестиционных потоков в компаниях. Объектом исследования является архитектура малого инновационного предприятия на ранних стадиях жизненного цикла (стартап). Предметом исследования дипломной работы являются методы, инструменты и информационные системы стратегического управления развитием малых инновационных предприятий (стартапов). Научная новизна исследования состоит в разработке метода оптимального управления развитием стартапа для эффективного вливания средств к его развитию. Практическая значимость исследования заключается в применении авторских предложений по совершенствованию процесса управления развитием стартапа в условиях трансформации экономики. Эффективность рекомендаций – предложенный автором подход по эффективному управлению развитием стартапа позволит отражать состояние проектов на каждом этапе развития, находящихся в акселераторе, в тех сочетаниях, которые способны привести к возникновению синергетического эффекта между реализуемыми проектами и привести жизненные циклы акселерации и реализуемых им проектов к состоянию резонанса. / The purpose of the study is, based on the theoretical and practical foundations of start-up management, to develop a model approach to improve the efficiency of start-up management through the development and implementation of information systems for the distribution of internal investment flows in companies. The object of the study is the architecture of a small innovative enterprise in the early stages of its life cycle (startup). The subject of the thesis research is methods, tools and information systems for strategic management of the development of small innovative enterprises (startups). The scientific novelty of the research lies in the development of a method for optimal management of the development of a startup for the effective injection of funds for its development. The practical significance of the study lies in the application of the author’s proposals for improving the process of managing the development of a startup in the context of economic transformation. The effectiveness of recommendations - the approach proposed by the author for effectively managing the development of a startup will allow reflecting the state of projects at each stage of development in the accelerator, in those combinations that can lead to a synergistic effect between the projects being implemented and bringing the life cycles of acceleration and the projects it implements to a state of resonance.