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The thesis deals with the comparison of the accuracy of methods used for valuation of the construction of the kindergarten. The theoretical part defines basic terms used in thesis and those related to the topic. Individual methods used for appraisal under construction are presented and described. In practical part, selected methods are applied to a concrete example of partially costructed Kamechy kindergarten in two phases of building process. In order to determine whether price differences among different valuation methods change over time, an appraisal is performed for two different price levels - for years 2014 and 2018. Based on comparison, analysis and evaluation of partial and overall results of the evaluation, accuracy of all appraisal methods used for valuation of partially constructed kindergarten are calculated and determined.

Thesis (MScAgric) -- Stellenbosch University, 1944. / INLEIDING: Gedurende die afgelope twee dekades, terwyl die wereld die ekonomiese terugslag van die Eerste Wereld-Oorlog in sy volle felheid beleef het, het prysbeheer in verskeie lande meer en meer op die voorgrond getree. Die feit dat na prysbeheer so gretiglik gegryp word, selfs wanneer demokratiese lande in 'n ekonomiese wurggreep worstel, wys op die feit dat prysbeheer beskou ,is as 'n noodhulpmaatreel. Hoe ernstiger die ekonomiese nood, hoe meer algemeen is prysbeheer.

Agricultural commodity derivatives were first introduced in South Africa in 1996 after the deregulation of the former marketing system. In the context of its proposed functions, namely price discovery and risk management, the question arose as to whether the futures market developed over time to performed its role efficiently. According to the Efficient Markets Hypothesis (EMH) an efficient market is one that accurately incorporates all information available at any point in time. The purpose of the research was to address the issue of price discovery efficiency, firstly, focusing on the weak-form methodology. Secondly, considering the behaviour of futures prices over time, the study addressed the concern of anomalies in daily returns – phenomena contradictory to the EMH by implication. Thirdly, as a means of defining the sources of inefficiency, the role of scheduled public information and its impact on futures prices was examined. Therefore, the primary objective of the research was to investigate and identify the main components of agricultural futures market inefficiency within the unique price formation structure of South African grain markets. The assessment of this problem is important in terms of evaluating the growth and development of the futures market for different grain commodities to date. The Exchange needs to review rules and regulations on a frequent basis in order to ensure proper functioning at all times especially in the case of a relatively new and fast growing market. The study contributed to the knowledge of understanding the price adjustment process and its implications for market efficiency in the context of the three grain markets considered. The weak-form efficiency was tested using a co-integration based model. Analysing daily spot and futures prices of white maize, yellow maize, and wheat, results indicated that all three markets were efficient and unbiased. Non-parametric tests revealed the significant presence of day-of-the-week and turn-of-the-month effects in the futures returns of the three commodities. Further non-parametric analyses suggested a high degree of uncertainty in futures returns around scheduled agricultural and macroeconomic information release dates also contributing significantly to the identified anomalies. It was concluded that (1) the markets’ ability to anticipate the contents of future information to be released, (2) the current skewed size distribution of broking members, (3) the significant role of the R/$ exchange rate in the price formation process of South African grains and, therefore, (4) the relationship to and influence of the broader economy enhanced the return effects (anomalies) creating opportunity for profitable arbitrage. This conclusion was mainly attributed to South Africa’s status as a price-taker in the world grain complex as well as the relatively short existence of the local agricultural futures markets.

Orientador: Edgard Antonio Pereira / Tese (doutorado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-10T06:22:15Z (GMT). No. of bitstreams: 1 Laplane_Marcelo_D.pdf: 1088131 bytes, checksum: 6b8eb4bbde7af969af761b57d5b2debc (MD5) Previous issue date: 2006 / Resumo: Na presente dissertação o setor elétrico é utilizado como mote para discutir e caracterizar o conceito de ¿custo regulatório¿. Ademais, realiza-se aqui uma tentativa de medi-lo através da avaliação da comparação entre a rentabilidade das distribuidoras de energia elétrica e o custo de oportunidade de seus investimentos. Para contextualizar o problema é feita uma descrição das características da indústria elétrica, dos mecanismos de regulação de monopólios e de seus limites. Os resultados encontrados mostram que o conceito convencional de ¿custo regulatório¿ deve ser relativizado e que um mercado bem regulado pode funcionar melhor do que um desregulado / Abstract: Not informed. / Doutorado / Mestre em Ciências Econômicas

Orientadores: Christiano Lyra Filho, Celso Cavellucci / Tese (doutorado) - Universidade Estadual de Campinas, Faculdade de Engenharia Eletrica e de Computação / Made available in DSpace on 2018-08-15T22:07:38Z (GMT). No. of bitstreams: 1 Queiroz_LeonardoMendoncaOliveirade_D.pdf: 3480667 bytes, checksum: 8aad553487af6ac62325d7f0f0893d60 (MD5) Previous issue date: 2010 / Resumo: Este trabalho estuda a estimação de perdas técnicas na distribuição de energia elétrica e apresenta uma análise para a definição dos níveis adequados dessas perdas. Ambas as abordagens são focadas na regulação. É apresentada uma metodologia de estimação das perdas técnicas de energia baseada no valor médio e na variância dos pontos da curva de carga. Essa metodologia pode ser aplicada alternativamente aos métodos baseados na perda de potência máxima, que inserem imprecisões desnecessárias para a estimativa das perdas de energia. Foram desenvolvidos modelos de regressão para a estimação das perdas técnicas em redes de distribuição de média e baixa tensão, objetivando utilizar o mínimo de informações possíveis para uma precisão adequada. Uma metodologia de geração de redes foi desenvolvida para o estudo desses modelos, de forma a disponibilizar redes com características semelhantes às redes reais. Também são propostos aprimoramentos na estimativa das perdas em transformadores e ramais de ligação. Adicionalmente, é apresentada uma análise dos níveis adequados de perdas técnicas na distribuição, utilizando-se técnicas de engenharia e benchmarking. As propostas deste trabalho sugerem aprimoramentos na regulação das perdas técnicas, tornando o método de estimação das perdas mais preciso e introduzindo a análise de eficiência das distribuidoras. / Abstract: This work studies technical losses estimation in power distribution systems and analyses the adequacy of the losses. Both approaches are carried in a regulatory perspective. It is presented a methodology to estimate energy losses from the mean and the variance of the load curve points. This methodology can be applied in substitution of methods based on maximum power losses, which inserts unnecessary inaccuracy to the procedure. Regression models were developed to estimate technical losses in medium and low voltage distribution networks, aiming to require less information as possible to meet an appropriate accuracy. A methodology of networks generation was developed to make available networks with characteristics similar to the ones presented by real networks. Improvements in transformers and service conductors losses estimation were also proposed. Engineering and benchmarking techniques were applied to analyze technical losses adequacy. The proposals presented in this work may improve technical losses regulation, making the estimation of losses more accurate and introducing efficiency analysis of power distribution companies. / Doutorado / Automação / Doutor em Engenharia Elétrica

This study is aimed at analyzing the effectiveness of state intervention in the form of pharmaceutical external price referencing (EPR) in selected EU countries, as well as the description of drug policy and EPR in the analyzed countries. Among the analyzed countries, the United Kingdom and Sweden have been selected as representatives who don't use EPR regulation. On the other hand, the Czech Republic, Hungary, Austria, Spain and the Netherlands are countries that regulate using EPR. The prices of selected pharmaceutical products in all of those states are converted into producer prices, on which most countries concentrate EPR. Prices are analyzed after the conversion of nominal and real exchange rates. The lowest prices are found in the Netherlands and the UK. This proves that EPR doesn't bring lower prices for medicine in the countries which use it. Further rankings vary based on the exchange rates used. The paper also analyzes the achievement of price ceilings in the Czech Republic, where the maximum prices set by regulators of EPR (including VAT) are compared with the average prices in pharmacies. All analyzed medicinal product prices are below the ceilings, which also proves the ineffectiveness of this intervention.

The thesis is focused on a comparison of selected methods for the valuation property type apartment in the area of Brno - Brno Štýřice and Černovice. The thesis is notionally divided into two parts. The theoretical part describes the basic concepts associated with valuation, describes methods used of valuation, real estate market and valued locations. The practical part of thesis is focused on the valuation of flats under the current price regulation with comparative method, the direct comparison method of valuation, method of yield for an assessment the current price. At the end of the thesis are explained and commented upon the facts (locations, methods, prices, costs and profit of development company).

This diploma thesis deals with desigantion of usual price of ten residential units in Jemnice and Moravské Budějovice. Valuation is done with direct comparison and with comparative methody by valid price regulation. Constituent part of this thesis is analysis effect of location on the usual price of selected locality.

Corn production is scattered geographically over various continents, but most of it is grown in the United States. As such, the world price of corn futures contracts is largely dominated by North American corn prices as traded on the Chicago Board of Trade. In recent years, this market has been characterised by an increase in price volatility and magnitude of price movement as a result of decreasing stock levels. The development and implementation of an effective and successful derivative price risk management strategy based on the Chicago Board of Trade corn futures contract will therefore be of inestimable value to market stakeholders worldwide. The research focused on the efficient market hypothesis and the possibility of contesting this phenomenon through an application of a derivative price risk management methodology. The methodology is based on a combination of an analysis of market trends and technical oscillators with the objective of generating returns superior to that of a market benchmark. The study found that market participants are currently unable to exploit price movement in a manner which results in returns that contest the notion of efficient markets. The methodology proposed, however, does allow the user to consistently achieve returns superior to that of a predetermined market benchmark. The benchmark price for the purposes of this study was the average price offered by the market over the contract lifetime, and such, the efficient market hypothesis was successfully contested. / Business Management / D. Com. (Business Management)