This thesis presents a comparison of the amount of the price of shares of construction of buildings for housing in the total price quoted in the Price Regulation and set an itemized budget. At the beginning of the thesis describes the methods of valuation of houses cost method and procedure for determining the price of shares and adjustment of structures and equipment. Based on itemized budgets family home, according to the chosen methodology used price shares structures and equipment that are matched with shares pricing structures and equipment by Decree No. 3/2008 Coll. The aim of this thesis is to determine whether price shares structures that correspond to the pricing rules of acquisition costs provided an itemized budget.

The topic of this diploma thesis is a comparasion of the price shares of individual constructions in the total price stated in the price schedule and determined by the item budget. The diploma thesis says and describes cost methods of valuation of building facilities and family houses at the outset. There is contained a procedure for determinating the price shares of construction and equipment and theirs adjustment in the next text. According to the chosen metodology are determined the price shares of constructions and equipments based on the item budget. This way determined the price shares of constructions and equipments are compared with the price shares of construcions and equipments determined by Decree No. 441/2013 Coll. The aim of diploma thesis is to determine if the price shares of constructions and equipments based on the item budget correspond to the price shares of constructions and equipments in the price schedule.

A diploma thesis is dealing about cost method of valuation for passive family houses, which popularity is growing. Aim of the thesis is determinate amount of share cost structure of real buildings and compares it with valuation decree. First part of this thesis analyses issue of passive houses as well as cost method of valuation issue. There are three family houses valuated by detail itemized budget. Than share cost structure is confronted and evaluated by valuation decree no. 441/2013 Sb. As well thesis shows basic specifics of passive houses valuation. Also thesis brings answers for economical questions. For example how much passive house costs or how much is passive house more expensive than usual house.

The diploma thesis is by its nature focused on evaluation of company performance. Analyzed company SITA CZ, a.s. is one of the market leaders providing services regarding of treatment with non-hazardous and hazardous waste. This company is analyzed in two aspects within diploma thesis. Evaluation focuses on market position and performance within specific economic activities according to NACE rev.2 – 382, at first. Second evaluation is focused on competitive benchmarking that should pin-point particular weaknesses. The main goal of the diploma thesis is to propose solutions to improve company performance and market position.

Orientador: Teodoro Vaske Junior / Resumo: A utilização de tintas anti-incrustantes é mandatória para embarcações e outras estruturas submersas na água do mar. Existem diversas vantagens em utilizar estas tintas como ganho em tempo e em velocidade de operações, e menor gasto de combustível, pois a bioincrustação aumenta a rugosidade da superfície e diminui a hidrodinâmica das embarcações. Em geral, a maioria destas tintas contém biocidas que evitam que os organismos incrustantes consigam se estabelecer sobre a superfície das embarcações. Esses biocidas por sua vez, acabam por serem liberados das pinturas provocando danos aos ecossistemas, como, por exemplo, o imposex, que é a masculinização de fêmeas de moluscos gastrópodes, um problema de disrupção endócrina causada pelo tributilestanho (TBT). Novos biocidas surgiram no mercado global após o banimento do TBT como alternativas menos danosas, porém muitos estudos comprovam efeitos prejudiciais a biodiversidade aquática, principalmente quando combinados. No Brasil, as regulamentações ambientais que dizem respeito às tintas anti-incrustantes são a Norman 23 da Marinha do Brasil, que estabelece as diretrizes para os sistemas anti-incrustantes, e a Resolução Conama 357, que estabelece os padrões de qualidade de águas. Esses dois documentos estão relacionados apenas ao uso do TBT, que foi banido em 2008. Em relação aos novos biocidas não existe nada neste aspecto, embora a Normam 23 tenha opção de incluir outros biocidas, caso necessário. O presente estudo tem por objetivo ... (Resumo completo, clicar acesso eletrônico abaixo) / Abstract: The use of some kind of antifouling protection is mandatory for ships and submerged structures. This use has many advantages, such as time gains in trips and general operations due to higher attainable speeds and reduced fuel consumption, as biofouling increases hull roughness and reduces hydrodynamic performance of the vessel. In a general way, most of these paints include biocides, to avoid the organism fixation in the vessel’s hull surface. However, these biocides cause environmental problems such as imposex, which causes masculinization of female marine gastropods, an endocrine disruption problem caused by tributyltin (TBT). New biocides were introduced in the global market after the TBT banning as less harmfull alternatives, but many studies have shown that these also could cause damage to marine ecosystems, and particularly when combined. In Brazil, environmental regulations on antifouling paints are: Normam 23, from the Brazilian Navy, which regulates application of marine antifouling systems, and Resolution 357 from CONAMA (Brazilian National Environment Council), which establish the water quality parameters. Both documents include only organotins (Normam 23) or specifically TBT (Res. 357), forbidden as antifouling since 2008. The new antifouling biocides are not discussed or regulated in these regulatory instances, while Normam 23 have the possibility of upgrade for including other biocides if required. This study is aimed at an evaluation of the possible risks to ma... (Complete abstract click electronic access below) / Doutor

Aktieåterköp är en snabbt växande företeelse och är på grund av tidigare lagar relativt nytt i Sverige jämfört med andra utvecklade länder. Aktieåterköp kan i vissa fall användas som ett substitut för utdelning, men kan även genomföras för att signalera marknaden och förhindra företagsuppköp. För att få en större förståelse för aktieåterköp har ett fåtal studier undersökt dess samband till ägarförhållanden på olika sätt. Dessa studier visar olika resultat i olika länder, vilket kan tyda på att landspecifika faktorer spelar roll vid undersökning av ägarförhållanden. Den aktuella studien undersöker hur ägarkoncentrationen och det interna ägandet ser ut i bolag som återköper aktier, samt om det finns någon skillnad i ägarkoncentration och internt ägande mellan aktieåterköpande och icke-återköpande bolag som är noterade på Stockholmsbörsen. Studien har en kvantitativ ansats och använder en tvärsnittsdesign för att besvara hypoteserna och jämföra de två grupperna. Hypoteserna är framställda utifrån den teoretiska referensramen som främst grundar sig i agentteori och asymmetrisk information. Resultatet visar hur ägarkoncentrationen och det interna ägandet ser ut för bolag som återköper egna aktier på Stockholmsbörsen 2019. Små skillnader kunde ur studiens resultat observeras mellan de två grupperna av observationer. Skillnaderna uppvisade ingen statistisk signifikans. / Share repurchases are a rapidly growing phenomenon and is relatively new in Sweden compared to other developed countries due to previous swedish laws. Share repurchases are often seen as a substitute for dividends, but can also be implemented to signal the market and prevent corporate acquisitions. Few studies have investigated share repurchases relation to ownership in various ways in order to understand the phenomenon further. These studies show different results in different countries, which may indicate that country-specific factors play a role when investigating ownership. The current study examines the ownership concentration and the internal ownership in companies that repurchase shares, and also if there is a difference in ownership concentration and internal ownership between companies that repurchase stocks and those who don’t. These companies are listed on Nasdaq Stockholm. The study has a quantitative approach and uses a cross-sectional design to answer the hypotheses and compare the two selected groups. The hypotheses are produced on the basis of the theoretical frame of reference, which is mainly based on agency theory and asymmetrical information. The results of the study indicate how the concentration and internal ownership looks for companies that repurchase their own shares on Nasdaq Stockholm. Small differences could be observed from the study’s results between the two groups of observations. The differences showed no statistical significance.

Analysis of the adoption of selected principles of the Roman inheritance law in Central Europe Abstract The diploma thesis deals with the analysis of selected principles of Roman inheritance law and their reception in the legal systems of Central Europe, specifically in the Austrian General Civil Code of 1811 and the Czech Civil Code of 2012. It does so through the study of ancient legal sources, modern Roman law literature, modern laws and relevant commentary literature. To compare the application of Roman law principles in modern law, the principle of compulsory share and the principle of nemo pro parte testatus, pro parte intestatus decedere potest were chosen. Since the reasons of delatio hereditatis and the principles belonging to them represent one of the pillars of the theoretical structure of inheritance law, it is appropriate to stress their Roman law roots. The reason for this examination is also the fact that in many modern codifications of civil law, Roman law is highlighted as an ideal model, and it is therefore necessary to examine whether modern legislation is really influenced by Roman law and whether it is not just a pleasing proclamation by the legislator. The diploma thesis deals with the development of the mentioned principles in the Roman history and also with exceptions from these...

AFRIKAANS: Die doel van hierdie verhandeling is om die proses van kapitaalverkryging deur die maatskappy te ondersoek en om veral op die begrip “aanbod van aandele aan die publiek” en verbandhoudende aangeleenthede klem te lê. Om hierdie doel te bereik was dit nodig gewees om op die verskillende kapitaalvorme te let soos wat dit ten opsigte van aandelekapitaal en leningskapitaal voorkom. Daar is in hierdie verband ook op enkele faktore gewys wat die maatskappy in ag moet neem in die keuse tussen die kapitaalvorme. Die regsreëls wat die aanbod van aandele aan die publiek reguleer is geskiedkundig nagespoor om sodoende die doel daarvan vas te stel en ook om te bepaal of daar nog aan hierdie doel voldoen word. Daar is ook ‘n regsvergelykende studie gedoen om sodoende perspektief ten opsigte van die effektiwiteit en wenslikheid van hierdie reëls te verkry. Die drie elemente wat die openbaarmakingsvereistes van die Maatskappywet 61 van 1973 in werking stel is in besonderhede ontleed om sodoende te bepaal of daar enige moontlike leemtes bestaan. Oplossings vir hierdie leemtes is dan ook in gepaste gevalle aan die hand gedoen, met die uitgangspunt steeds in gedagte dat die verkryging van aandelekapitaal deur middel van die aanbod van aandele aan die publiek sover moontlik vereenvoudig moet word om sekerheid ten opsigte van die maatskappy daar te stel. Die teenkant hiervan is egter ook in gedagte gehou, naamlik dat die belegger in aandele die mees effektiewe beskerming moet geniet. Dit het veral duidelik geblyk dat die onderskeid tussen die begrippe “inskrywing op” en “koop van” aandele vir sover dit die Suid-Afrikaanse situasie betref, uitgedien is en dat daar slegs voorsiening gemaak moet word vir die koop van aandele op die primêre sowel as op die sekondêre mark. As gevolg van die eng omskrywing van “aandeel” in die Maatskappywet blyk dit dat daar ‘n aantal prosedures van kapitaalverkrying is wat nie deur openbaarmaking gereguleer word nie en die benadeling van die betrokke beleggers tot gevolg het. Die laaste element wat die openbaarmakingsvereistes van die Maatskappywet in werking stel, naamlik die begrip “publiek”, is in wese ondefinieerbaar as gevolg van die vaagheid daarvan en gevolglik die element van sekerhied by kapitaalverkryging benadeel. Die verband tussen die prospektus en die voornoteringsverklaring is onduidelik en verwarrend veral ten opsigte van die dualistiese benadering wat ten opsigte van aanspreeklikheid vir onware verklarings in hierdie dokumente gevolg word en behoort opgeklaar te word ten behoewe van die belegger. ENGLISH: The purpose of this thesis is to investigate the process of the acquisition of capital by a company and in particular emphasis will be placed on the concept “an offer of shares to the public” and matters incidental thereto. In order to achieve this purpose it was necessary to distinguish the different forms of capital as manifested in share and loan capital. The different factors which the company should take into account in the exercise of the choice regarding the various forms of capital are also analyzed. The legal rules regulating the offer of shares to the public are historically investigated in order to establish their purpose and also to determine whether they still achieve this purpose. A comparative study was also done in order to place the desirability and efficacy of these rules in perspective. The three elements which make the disclosure requirements of the Companies Act 61 of 1973 operative are analyzed in detail in order to ascertain whether any shortcomings exist. Solutions for these shortcomings are suggested in appropriate cases but against the background of the concept that the acquisition of share capital by the offer of shares to the public must be simplified as far as possible in order to promote certainty from the viewpoint of the company. Against this however, the principle that the investor in shares should enjoy the most effective protection was also highlighted. It especially became apparent that the distinction between the concepts “subscription for” and “sale of” shares have become redundant in so far as they are applied in the South African experience and that provision should be made for the sale of shares on the primary as well as the secondary market. As a result of the narrow definition of “share” in the Companies Act it is apparent that there are a number of procedures for the acquisition of capital which are not regulated by disclosure and consequently have the effect of prejudicing the investors. The last element which makes the disclosure requirements in the Companies Act operative, namely the concept “public”, is in essence indefineable because of its uncertainty, with the effect that the element of certainty in the acquisition of capital is detracted from. The relationship between the prospectus and the prelisting statement is uncertain and confusing especially in respect of the dualistic approach with regards to untrue statements in these documents and should be clarified on behalf of the investor. / Thesis (LLD)--University of Pretoria, 1987. / Mercantile Law / unrestricted

Asymmetric information in the management-investor relationship implies that the management’s actions will give signals to investors. According to the signalling hypothesis, an announcement of a share repurchase program is interpreted by investors that the management is putting its money where its mouth is, i.e. signalling that the stock is currently undervalued. Using the event study methodology to analyze share repurchases of listed Swedish real estate companies, we find significant short-term abnormal returns of 1,96% on the announcement day and cumulative abnormal returns of 2,32% (although not significant on conventional levels) for the ten first days subsequent to the announcement. At the most fundamental level of corporate finance theory, the Efficient Market Hypothesis stipulates that the whole value of the announcement should be discounted in the stock price immediately. On the other hand, it might be rational for investors to await certainty that the share repurchase program will be executed, before discounting its full value. We find indications of underreaction as the analysis suggests long-term positive stock price reactions to the announcement. The Jensen’s alpha approach utilized in the long-term analysis suggests an average abnormal return of 10,30%, although insignificant on conventional levels, the year following a share repurchase announcement. From a stock investor point of view, the results from this study suggest that buying real estate stocks that announce share repurchase programs can yield positive abnormal returns for investment horizons of 10 days as well as 12 months.

Bike share system (BSS) has received increasing attention in research for its potential economic and environmental benefits. However, some research has pointed out the negative sustainability impacts of BSS from rebalancing activity, due to its greenhouse gas (GHG) emissions and additional vehicle travels. Additionally, bike and station manufacturing also bring considerable emissions to the system. Therefore, it is important to analyze the current rebalancing efficiency and sustainability of BSSs, and to assist the BSS operators in optimizing the BSS design. Existing studies lack tools to estimate the real-world rebalancing activities and vehicle usage for system sustainability evaluation and improvements. To address this gap, this research first proposed a framework to estimate rebalancing activities and applied a clustering-based method to estimate the rebalancing vehicle use. Applying the framework to the BSSs in Chicago, Boston, and Los Angeles, this study estimated the rebalancing operation and compared the rebalancing efficiencies among the three systems. The analysis results show that 1) only a small proportion of stations and bikes were involved in the daily rebalancing activities; 2) most rebalancing activities were operated during the daytime, while the overnight rebalancing was limited; 3) the system scale, trip demand, and station types are critical for the rebalancing efficiency; and 4) reducing the rebalancing activities at self-rebalance stations could help to improve the rebalancing efficiency and benefits system sustainability. Additionally, the sustainability performance (e.g., carbon emissions) of BSS is not only decided by the rebalance, but also the manufacturing of bikes and stations. It is important to consider all these factors when optimizing a BSS. The existing literature on system improvement for the BSSs lacks an integrated view, and a well-designed integrated model for current BSS improvement is needed. The second part of this thesis built a simulation-based optimization model and generated 2400 scenarios for evaluation. This model aims to minimize the expansion investment, rebalancing mileage, and maximize the system demand and service rate. A Weight Sum Model is applied to solve the multi-criteria decision analysis. The model results show that the best system improvement is to build a new station with a small capacity and initial bikes. The investment and location impacts are discussed to find the tradeoff among expansion strategies. A sensitivity analysis is conducted to evaluate how different weight combinations (refer to different preferences in decision making) impact the preferred station configuration (docks and bikes) and new station locations.