The final thesis is focused on type selection housing, financing this investment and suitability of the proposed. The interest rates on products that are used to invest in this activity are monitored. Interest rate developments are related to HDP development Czech republic.

The diploma thesis deals with the procedure for financing the reconstruction of the family house. This is a particular situation where the investor is fictional because of the general data protection regulation. The family house from 1935 will be reconstructed. Due to the age of some constructions, the investor decided to use extensive reconstruction which he will have to finance using foreign sources. It was chosen the financing of reconstruction by the mortgage loan where possible variants of repayment are presented. The thesis focuses on the valuation of the family house before reconstruction, during the reconstruction and on the valuation of the future after reconstruction. At the end is presented whether the reconstruction was for the investor beneficial.

This master's thesis analyzes problems, which are connected with building industrial zones in Telč region. It intents especially in human resources usage and industry developing. It includes some suggestions how to deal with these problems, mainly suggestions on the regional level.

Master thesis solves the management of construction contracts the contractor with a focus on the banking sector. The aim is to describe the specific construction business company and analysis of specific construction contracts.

This master thesis is focused on the draft procedure for the compilation of the purchase price of a building by the investor and the impact of the height of this price on the period of the recovery of investment. The basic content of this thesis is the making out of the optimal purchase price for the investor in accordance with the lowest purchase costs but also with regard to the minimisation of the risks connected to the breach of the obligation of the contractor. Further in this thesis there is made a research of the influence of the purchase price on the recovery with the help of the economic effectiveness indicator – net present value (NPV – Net Present Value). The theoretical part of this thesis is applied to a case study – the property of a sales hall.

In this diplom thesis I will deal with relation between consumer and his aversion to loss. Expression of the potential risks that can describe using behavioral theories and psychological approach. The practical part will focus on the description of risk in consumers behavior as an investor. The relationship of these consumers lose due to amount of their income and practical recommendations on how to take into account the potential risks and minimize loss.

La constante baisse de l’actionnariat individuel en France est qualifiée d’énigme. Les ménages français participent faiblement aux marchés d’actions. Les entreprises éprouvent des difficultés à attirer de nouveaux investisseurs individuels, or l’actionnariat individuel est apprécié pour sa fidélité et son engagement. L’action est un produit financier et d’image qui offre une source de financement stable et durable pour les entreprises, les systèmes de retraite et les investissements à long terme. Les décisions financières et d’investissements sont nourries par la finance moderne et la finance comportementale. Bien que des contradictions existent sur leurs hypothèses fondatrices, ces courants partagent une même conception de la valeur intrinsèque d’un actif financier, une valeur objective déterminée essentiellement par les attributs monétaires du produit, limitant ainsi l’individu dans ses choix et décisions. Notre recherche explore le comportement de l’investisseur individuel en mobilisant le cadre conceptuel de la valeur perçue développé par la littérature en marketing. Nous proposons un modèle de comportement d’achat d’actions de l’investisseur individuel pour examiner les relations entre les attributs des actions et les bénéfices perçus. Ce modèle permet de comprendre le processus de formation de la valeur perçue de l’investisseur individuel qui détermine sa décision d’achat d’actions. Notre démarche exploratoire utilise une méthode mixte pour étudier le contexte de l’actionnaire individuel français détenteur d’actions en direct. Les résultats relèvent l’existence de familles d’attributs du produit action, d’une typologie de bénéfices perçus, et des liens entre attributs et bénéfices faisant ressortir des profils d’investisseurs individuels. Notre recherche éclaire davantage le processus de choix et de décision d’achat d’actions de l’investisseur individuel, et propose aux acteurs du marketing financier une segmentation des investisseurs individuels par les bénéfices perçus afin d’adapter leurs offres de produits et services financiers envers cette cible. / The constant decline of individual shareholders is a French puzzle. French households participate feebly in equity markets. Companies find it difficult to attract new individual investors, even though they are valued for their loyalty and commitment. A share is a financial and image products that provides a sustainable source of finance for businesses, retirement systems, and long-term investments. Financial and investment decisions are framed by modern finance and behavioral finance. Although they are contradictory on their founding assumptions, these streams share the same conception of the intrinsic value of a financial asset, an objective value determined essentially by the monetary attributes, thus limiting the individual in his choices and decisions. Our research explores the behavior of the individual investor through applying the conceptual framework of the perceived value developed by the marketing literature. We propose an individual investor's stock behavior model to examine the relationship between stock attributes and perceived benefits. This model allows understanding the process of the formation of the perceived value of the individual investor, which determines his decision to buy shares. Our exploratory approach uses a mixed method to study the context of the French individual shareholder holding registered shares. The results highlight the existence of families of shares’ attributes, a typology of perceived benefits, and links between attributes and benefits that exhibiting individual investor profiles. Our research sheds new light on the individual investor's decision-making and buying process, and offers financial marketers a segmentation of individual investors based on the perceived benefits, allowing them to tailor their financial products and services offerings towards this target.

The healthcare literature sometimes cites Medicare as a negative determinant of hospital profitability. However, a review of Florida acute care short-term general hospital data revealed a subset of profitable hospitals with high percentages of their revenue structure comprised of Medicare reimbursements. Some investigators might contend that these hospitals are just better managed; that hospital profitability is not related to patient mix or payer source. Although good management enhances financial health, there are perhaps other reasons why certain hospitals can become profitable with Medicare as their primary revenue source. Research findings indicate there is wide geographic variability shown for per-capita volumes of discretionary procedures reimbursed by Medicare, and broad variations in Medicare spending per enrollee for general acute care short-term hospitalizations. It was also found that many of the hospitals performing higher rates of discretionary procedures and showing the ability to make a profit with Medicare are investor owned. The focus of this study, covering years 2000-2005, was to examine two strategies using discretionary procedures under Medicare that Florida investor owned hospitals may employ to increase profitability and maintain long-term financial health. Part 1 of the study examined the association between long-term financial viability, measured by the total assets divided by total liabilities (TATL) ratio (the reciprocal of the debt ratio) and percentages per hospital of two discretionary cardiac and orthopedic procedure variables, reimbursed by conventional Medicare. A positive association was found between the TATL ratio and these variables, as well as significant marginal effects in the association between the TATL ratio and interaction terms for hospital ownership (where investor owned = 1 and not-for-profit = 0) and the discretionary cardiac procedure variable and ownership and the discretionary orthopedic procedure variable. Part 2 used total charges as the dependent variable for patient discharges reimbursed by Medicare HMO. It was found that investor owned hospitals generally assess significantly higher charges than not-for-profits for discretionary CABG and valve replacement procedures for patients with equivalent levels of medical services and hospitalization. It was also found that charges significantly increase for both investor-owned and not-for-profit hospitals located in the southern region of Florida.

The increasing popularity of passive investment strategies causes the long-term feasibility of active investing to be questioned more often. Therefore, this research aimed to uncover whether active investors' influence on fund performance is positive and significant enough to offset the cost involved, thereby providing reasoning for active rather than passive investing. A comparative analysis of 211 actively managed funds and 191 market and industry-specific indices is performed. Security selection skills and market timing ability are captured through a model comprising of the Fama French three-factor and the Treynor and Mazuy market timing model. The sample is tested between 2005 and 2020, with 5-year sub-periods. Over the full period, active and passive returns are found to be nearly indistinguishable. However, active funds seem to excel during bearish periods, where passive funds excel in bullish periods. The standard deviation is higher overall for passive investing. This difference, however, disappears during bearish periods. The security selection skill is barely distinguishable from zero for either strategy. On the other hand, market timing ability is existent for active investors, indicating a positive effect in bearish markets and a negative effect in bullish markets. Additionally, for both investing strategies, more than 90% of the returns are explained by the movements of the general market. The most suitable investment strategy is truly determined by an investor's level of risk aversion. Nevertheless, this research found that, in general, the passive investing strategy is dominant under normal market conditions. Active investors can act on the macroeconomic developments that fuel crises. This advantage enables them to achieve returns superior to indices while preserving a lower standard deviation during bearish market conditions.

The objective of this research is to assess whether the financial markets impute motives to bidding firm managers in setting the new equilibrium share price at the time a tender offer is announced.