Os vírus são patógenos importantes na saúde das aves, podendo levar a surtos que ameaçam de forma significante a população destas. O Bornavírus aviário (ABV), o Circovírus (BFDV) e o Poliomavírus (APV) são os agentes virais mais comuns e que mais ameaçam os psitacídeos de cativeiro. O ABV é responsável pela doença da dilatação proventricular (PDD) em psitacídeos e outras aves, uma doença neurológica letal, que foi descoberta no início da década de oitenta na Europa e América do Norte. A primeira infecção por APV descrita em aves foi em periquitos australianos (Melopsittacus undulatus) jovens, sendo depois associada com elevada mortalidade e morbidade em outros psitacídeos. O BFDV é o agente causador da doença do bico e das penas de psitacídeos, que ocorre quase exclusivamente em psitacídeos, principalmente em criatórios, aves em quarentena e lojas de animais. Foram testadas 120 amostras de psitacídeos de cativeiro no Brasil, para BFDV e APV e 112 amostras para ABV, resultando em 21 (17,5%) aves positivas para APV, 41 (34,17%) para BFDV e 32 (28,57 %) para ABV. Entre os animais positivos, quatorze apresentaram infecção concomitante, sete foram positivos para BFDV e ABV, seis positivos para BFDV e APV e uma positiva para BFDV, APV e ABV. Dentre os animais positivos para BFDV, os sinais clínicos mais comuns encontrados foram apteria e apatia/anorexia, em relação às aves positivas para APV foram a apatia/anorexia, enquanto para ABV os sinais neurológicos foram os mais representados. A detecção de APV, BFDV e ABV demostra a ocorrência destes vírus testados em psitacídeos de cativeiro no Brasil, tanto em espécies exóticas como em espécies nativas. / Viruses are important pathogens in avian health and may lead to outbreaks that threaten significantly the population of birds. The Avian Bornavírus (ABV), Circovirus (BFDV) and Avian Polyomavirus (APV) are the most common viral agents that threaten parrots in captivity. The ABV is responsible for the proventricular dilation (PDD) in parrots and other birds, a lethal neurological disease, which was discovered in the early eighties in Europe and North America the disease. The first APV infection in birds has been described in young Australian budgerigars (Melopsittacus undulatus), after being associated with high mortality and morbidity in other parrots. The BFDV is the causative agent of Beak and Feathers Disease, which occurs almost exclusively in psittacines, especially in aviary, quarantine birds and pet stores. A total of 120 captivity parrots were tested in Brazil for BFDV and APV and 112 samples for ABV, resulting in 21 (17.5%) positives for APV, 41 (34.17%) for BFDV and 32 (28.57%) for ABV. Among the positive animals, fourteen had concomitant infection, six were positive for both APV and BFDV, seven for BFDV and ABV, and one sample was positive for BFDV, APV and ABV. Among BFDV positive animals, most common clinical signs were apteria and apathy/anorexia, for APV positive birds were apathy/anorexia, while for ABV were neurological signs were the most represented. The detection of APV, BFDV and ABV demostrate the occurrence of all tested viruses in captive parrots in Brazil, including exotic and native species.

Os vírus são patógenos importantes na saúde das aves, podendo levar a surtos que ameaçam de forma significante a população destas. O Bornavírus aviário (ABV), o Circovírus (BFDV) e o Poliomavírus (APV) são os agentes virais mais comuns e que mais ameaçam os psitacídeos de cativeiro. O ABV é responsável pela doença da dilatação proventricular (PDD) em psitacídeos e outras aves, uma doença neurológica letal, que foi descoberta no início da década de oitenta na Europa e América do Norte. A primeira infecção por APV descrita em aves foi em periquitos australianos (Melopsittacus undulatus) jovens, sendo depois associada com elevada mortalidade e morbidade em outros psitacídeos. O BFDV é o agente causador da doença do bico e das penas de psitacídeos, que ocorre quase exclusivamente em psitacídeos, principalmente em criatórios, aves em quarentena e lojas de animais. Foram testadas 120 amostras de psitacídeos de cativeiro no Brasil, para BFDV e APV e 112 amostras para ABV, resultando em 21 (17,5%) aves positivas para APV, 41 (34,17%) para BFDV e 32 (28,57 %) para ABV. Entre os animais positivos, quatorze apresentaram infecção concomitante, sete foram positivos para BFDV e ABV, seis positivos para BFDV e APV e uma positiva para BFDV, APV e ABV. Dentre os animais positivos para BFDV, os sinais clínicos mais comuns encontrados foram apteria e apatia/anorexia, em relação às aves positivas para APV foram a apatia/anorexia, enquanto para ABV os sinais neurológicos foram os mais representados. A detecção de APV, BFDV e ABV demostra a ocorrência destes vírus testados em psitacídeos de cativeiro no Brasil, tanto em espécies exóticas como em espécies nativas. / Viruses are important pathogens in avian health and may lead to outbreaks that threaten significantly the population of birds. The Avian Bornavírus (ABV), Circovirus (BFDV) and Avian Polyomavirus (APV) are the most common viral agents that threaten parrots in captivity. The ABV is responsible for the proventricular dilation (PDD) in parrots and other birds, a lethal neurological disease, which was discovered in the early eighties in Europe and North America the disease. The first APV infection in birds has been described in young Australian budgerigars (Melopsittacus undulatus), after being associated with high mortality and morbidity in other parrots. The BFDV is the causative agent of Beak and Feathers Disease, which occurs almost exclusively in psittacines, especially in aviary, quarantine birds and pet stores. A total of 120 captivity parrots were tested in Brazil for BFDV and APV and 112 samples for ABV, resulting in 21 (17.5%) positives for APV, 41 (34.17%) for BFDV and 32 (28.57%) for ABV. Among the positive animals, fourteen had concomitant infection, six were positive for both APV and BFDV, seven for BFDV and ABV, and one sample was positive for BFDV, APV and ABV. Among BFDV positive animals, most common clinical signs were apteria and apathy/anorexia, for APV positive birds were apathy/anorexia, while for ABV were neurological signs were the most represented. The detection of APV, BFDV and ABV demostrate the occurrence of all tested viruses in captive parrots in Brazil, including exotic and native species.

Diploma thesis "Business valuation of ZON spol. s r. o." is formed as an expert opinion and its goal is to find a market value for hypothetic sale on the date 31. 12. 2014. Thesis is divided into five parts. The first part is devoted to the description of company. In next parts financial and strategic analyses follow. In the next part value drivers are analysed and planned, which result in completing financial plan of business for years from 2015 to 2020. In the last part ZON spol. s r. o. is valued by DCF APV method using parametric formula for the second phase.

The thesis is concerning valuation of Hügli Food, s. r. o., which is company operating in food processing industry. Thesis content four parts - strategic and financial analysis, generators of value and valuation itself. The aim of finacial analysis is to qualify acting of business in areas of profitability, stability, liquidity and viability. Strategic analysis leads to identification and examination of strengths and weaknesses. Final part of thesis is dedicated to valuation itself. Valuation methods were combination of DCF APV and exit multiple and market comparison.

The master thesis aims to compare the DCF Entity method and the DCF APV method. In the practical part of the thesis, both of these methods are applied to evaluate the company KOVOVÝROBA HOFFMANN, s.r.o. When applied correctly and using the same input data, DCF Entity as well as DCF APV results are supposed to equal. However, both methods dispose of its pros and cons. Despite its imperfections, the DCF Entity method is commonly used in practise, whereas the DCF APV method lacks of interest. This thesis, however, points out that the DCF APV could be not merely an equal alternative to the DCF Entity method, but could also avoid some of its imperfections or give extra information compared to the DCF Entity method. As a consequence, we can expect increasing importance of the DCF APV method.

The object of the diploma paper "The comparison of business valuation methods DCF and EVA" is to realize a theoretical confrontation of income approach methods of Discounted Cash Flow (including its all versions: entity, equity and APV) and Economic Value Added, and also to apply all of the methods to valuate a company and their consequent reconciliation. The study is focusing on cases when the methods should be equivalent and when they may differ.

The master thesis evaluates the company ZVVZ GROUP. The main focus is to link the aspects connected with the yield valuation method DCF APV (Discounted Cash Flow Adjusted Present Value), since this method has many advantages, although rarely used in practice. The DCF Entity method is chosen for comparison. This method is used much more often, despite methodological imprecisions, which are usually omitted. To demonstrate the advantages of the DCF APV method, I have decided to evaluate a complicated company ZVVZ, a. s. which has been transformed into holding ZVVZ Group, a. s.

Today's mortgage industry is constantly changing, with adjustable rate mortgages (ARM), loans originated to the so-called "subprime" market, and volatile interest rates. Amid the changes and controversy, lenders continue to originate loans because the interest paid over the loan lifetime is profitable. Measuring the profitability of those loans, along with return on investment to the lender is assessed using Actuarial Present Value (APV), which incorporates the uncertainty that exists in the mortgage industry today, with many loans defaulting and prepaying. The hazard function, or instantaneous failure rate, is used as a measure of probability of failure to make a payment. Using a logit model, the default and prepayment risks are estimated as a function of interest rate. The "optimal" interest rate can be found where the profitability is maximized to the lender.

Chronic intermittent ethanol exposure (CIE) is associated with degeneration of hippocampal neurons. The present study used hippocampal cultures to examine the loss of NeuN immunoreactivity, a relaible marker or neuronal density, after 1, 2, or 3 cycles of 5 days EtOH exposure (50 mM), followed by a 24-hour period of EWD or continuous EtOH exposure. NeuN immunoreactivity was decreased by 13%, 19%, and 16% in the CA1, CA3, and dentate gyrus after 3 cycles of CIE respectively; thionine staining confirmed significant cellular losses within each hippocampal subregion. Two cycles of CIE in aged tissue cultures resulted in significant decreases in NeuN immunoreactivity in all hippocampal subregions; however continuous ethanol exposure or exposure to one cycle of CIE did not. Further, exposure to the N-Methyl-D-aspartate receptor (NMDAR) antagonist 2-amino-7-phosphonvaleric acid (APV) (30 uM) during periods of EWD attenuated the loss of NeuN in all hippocampal subregions, while exposure to APV (40 uM) prevented the loss of NeuN in the CA1 and dentate gyrus. These results suggest that the loss of mature neurons after CIE is associated with the overactivation on the NMDAR.

The aim of this thesis is to estimate market value of company PODA a.s. as at 31. 12. 2014. In the process of valuation I apply common valuation methods consisting of financial and strategic analysis, prognosis of value drivers and financial plan. Taking into account the good prospects of the company I choose the DCF APV method to determine its value. The comparable transactions method is used as a supplemental valuation method.