60 research outputs found
Economic Valuation of Patents as Real Options
In today's high competitive business world is for the successful firms necessary to manage not only their tangible property but also intangible assets. The main goal of this article is to approximate the application of real option methodology for patent valuation that takes into account the value of flexibility in investment decision making. In this paper is shown how to use real options methodology for valuation of patent. The theoretical background of real options is illustrated by the Black-Scholes model in the sample case adapted to Aswath Damodaran (Damodaran, 2001). This paper is completed by estimation of contemporary situation of patents granted by the Industrial property office in the last five years. The last part discuss in which situations make sense to use real options for valuation patent and what is the most common problems of using real options
Oxidative damage to cellular components after oxidative stress induction by specific herbicides
1. Abstrakt Oxidační stres je způsoben nadměrnou produkcí a akumulací ROS (reaktivních forem kyslíku) a je častým důvodem buněčného poškození za nepříznivých environmentálních podmínek, např. za sucha, chladu, zasolení. Ve své práci jsem využila specifického působení herbicidů MV (methyl viologen) a 3-AT (3-aminotriazol) k přímé indukci oxidačního stresu u rostlin tabáku (Nicotiana tabacum cv. Xanthi). Míra oxidačního poškození byla sledována na úrovni DNA pomocí kometového testu, dále na peroxidaci lipidů, hladině karbonylovaných proteinů a modifikaci aktivit antioxidačních enzymů CAT (katalázy) a APX (askorbátperoxidázy). Konfokální fluorescenční mikroskopie zdokumentovala změnu redoxního stavu buněk po aplikaci herbicidů a při vyšších koncentracích byl pozorovaný signál specificky lokalizován do peroxizómů. Použité herbicidy působily v řádově odlišných koncentracích, MV v µM a 3-AT v mM a oba způsobily výrazné poškození jaderné DNA. Jako další průkazný marker oxidačního stresu po aplikaci MV se ukázala být karbonylace proteinů. Inhibice antioxidačních enzymů CAT a APX byla oproti 3-AT méně výrazná. Klesající stabilita membrán se ukázala být univerzálním markerem oxidačního poškození pro oba herbicidy, zatímco peroxidace lipidů byla neprůkazná. MV a 3-AT mají rozdílné módy účinku, a každý působí na...Oxidative stress is caused by overproduction and overaccumulation of ROS (reactive oxygen species). This state is responsible for cellular damage during unfavorable environmental conditions such as drought, low temperatures, salinity. In order to directly study oxidative stress at tobacco plants (Nicotiana tabacum cv. Xanthi) I used specific herbicides, MV (methyl viologen) and 3-AT (3- aminotriazole). There were several markers used for monitoring oxidative damage to cellular components: DNA damage detected by a comet assay, lipid peroxidation, carbonylated proteins and modification of activities of antioxidant enzymes CAT (catalase) and APX (ascorbate peroxidase). Fluorescent microscopy documented changes in a redox state of tobacco cells and a specific signal for peroxisomes was observed after treatment with higher concentrations of MV and 3-AT. Application of both herbicides caused significant DNA damage, while they worked in a different concentrations, MV in µM and 3-AT in mM. Another convincing oxidative stress marker for MV was protein carbonylation. The inhibition of antioxidant enzymes CAT and APX was less significant when compared to the effects of 3-AT. Decreasing membrane stability proved to be an universal oxidative stress marker for both herbicides. On the other hand, lipid...Department of Experimental Plant BiologyKatedra experimentální biologie rostlinPřírodovědecká fakultaFaculty of Scienc
Key input factors for discounted cash flow valuations
Business valuation becomes requisite not only because of the recent trend of mergers and acquisitions but of course regarding to identification of economic value creation sources. This paper examines weighted average cost of capital and terminal growth rate as the key input factors that is needed for discounted cash flow valuation and can alter the valuation results considerably. A practical example of this implication is given using sensitivity analysis. A special emphasize is being put on the overview of methods that are used by appraiser's in nowadays Czech practice to calculate the equity cost. The following part of analysis is focused on investigation of the inherence of the fundamental assumptions that led appraisers to determination of terminal growth rate, the rate that influence the business value considerably
Education of Sports Club Coaches
Import 29/09/2010Cílem mé diplomové práce je zanalyzovat současný stav možností vzdělávání trenérů v oblasti krasobruslení v rámci České republiky. Na základě výsledků z výzkumného šetření pak pro tyto trenéry navrhnout systém kontinuálního vzdělávání. Navržený vzdělávací systém pak bude dále modifikován a doplněn pro potřeby a podmínky Krasobruslařského klubu Orlová.
Diplomová práce je rozčleněná do čtyř kapitol. První kapitola je věnována teoretickým poznatkům dané problematiky. V rámci druhé části práce je stručně představen Krasobruslařský klub Orlová. Praktická část práce pak pokračuje analýzou současného stavu vzdělávání trenérů a výzkumným šetřením. Poslední kapitola zahrnuje návrhy a doporučení.Goal of my thesis is analysis of the actual state and possibilities in education coaches in figure skating within Czech republic. I had to suggest system of continual education on the base of results from experimental investigation. Designed education system will be modified and supplemented for needs and conditions of Figure skating club Orlová.
Thesis is divided into four chapters. First chater is dedicated to theoretical pieces of knowledge in this issue. In the second part of work is in short introduced Figure skating club Orlová. The practical part continues by the analysis of the current coaches education and experimental survey. Last charter includes suggestions and recommendations.Prezenční115 - Katedra managementuvelmi dobř
Towards financial sustainability of companies: Issues related to reporting errors
The aim of the paper is to analyse the opinion of enterprise representatives upon the risk of errors occurrence in selected areas of accounting. Research presented in this paper explains the view of enterprise accountants upon the risk of errors occurrence, both unintentional and intentional, aimed towards the creation of so called "creative accounting". The research itself, done on a sample of 232 Czech enterprises, was based on questionnaire investigation which focused on perception of problematic areas influencing the quality of accounting information. The obtained set of data was evaluated using descriptive method and mathematical/inference statistics. Special testing was done at hypotheses on concordance of two mean values and at the Friedman test. Evaluation of problematic rates of individual areas of accounting revealed that practically each observed area of accounting is connected with specific difficulties. The major causes of problems are tax impacts, namely in the area of the cost, time differentiation and of revenues and also difficulty in pricing, especially in the area of inventories and fixed and financial assets. High respondents' concordance on rating individual accounting areas as to the risk of an error occurrence was detected. It stemmed from the research that the risk of formation of unintentional errors is subjectively rated as the highest in the areas of conjectural and adjusting items and the lowest at asset and depreciation classification. Rating the space for intentional distortion of accounting statements indicates a very reserved attitude of the respondents. The results have proved that in the respondents' opinion practically all areas of accounting give space for occurrence of errors. The results of the research provided a somewhat different perspective on the issue of accounting errors in comparison with results published by other authors who used objective assessment of error rate as a departure point
Relationship between legislation and accounting errors from the point of view of business representatives in the Czech Republic
Research background: Previous studies have demonstrated that providing relevant information to users is positively affected by higher quality of accounting standards and adhering to ethical rules and accounting principles by accounting professionals. On the other hand, there are a lot of cases when the law was broken. The most common reason for committing financial statement's fraud include increasing stock prices, getting loans from bank or avoiding payment of taxes. Purpose of the article: The aim of this paper is to evaluate both the relationship between using of legislation and accounting errors rate in the financial statements as well as the possible using of creative accounting from the point of view of enterprises and non-profit organizations in the Czech Republic. Methods: Among the quantitative research methods the questionnaire was used. The questionnaires were sent out to randomly 201 selected enterprises and non-profit organization. The survey was conducted from September 2017 to the end of January 2018. The data were analyzed by means of the tools of descriptive statistics and the chi-square goodness of fit test. The research questions sought to investigate whether Czech Accounting Standards helped in all areas of accounting and reporting and avoiding of errors in financial statements, and whether the respondents encountered fraudulent procedures in compiling financial statements. Findings & Value added: The results indicated that using Czech Accounting Standards was perceived as a useful tool in solving all situations in areas of accounting and avoiding accounting errors. Moreover, it was proved that the volume and frequency of errors were not significant in financial statements.Internal Grant Agency of University [IGA/FaME/2018/014
Problematic areas of accounting: some evidence from the Czech Republic
Accounting is a tool of evidence for reporting assets, equities, liabilities, expenses, revenues and profits or losses of the accounting unit. This information is collectively presented in financial statements, which are an essential source of information for external subjects. Nevertheless, the resulting financial statements are relevant only to the extent to which the information charged in the accounting is correct and error-free. For this reason, the aim of this article is to examine the individual areas recorded in accounting in terms of their possible bias due to an error. The objective of this article is to determine which of the areas of accounting are riskiest in relation to the occurrence of errors, and this in connection to the existence of an important foreign partner of the accounting unit. The risk of of the error occurrence is examined from the accountants' perspective. For this purpose, a questionnaire survey was used for data collection focusing on areas that are considered to be the most important by the accountants and the areas which are the most problematic. The receivables, expenses and revenues were indicated as the most significant. The areas of long-term assets, financial assets and inventories appear to be problematic due to tax impacts. Expenses, revenues, accruals and deferrals appear to be problematic due to issues with correct valuation. The difference in perception of risk of the error occurrence in relation to the existence of a foreign business partner was proven only for some accounting areas such as liabilities, inventories or expenses
Changes in the lung bacteriome in relation to antipseudomonal therapy in children with cystic fibrosis
A Placebo-controlled double-blinded test of the biodiversity hypothesis of immune-mediated diseases : Environmental microbial diversity elicits changes in cytokines and increase in T regulatory cells in young children
Background: According to the biodiversity hypothesis of immune-mediated diseases, lack of microbiological di-versity in the everyday living environment is a core reason for dysregulation of immune tolerance and - even-tually - the epidemic of immune-mediated diseases in western urban populations. Despite years of intense research, the hypothesis was never tested in a double-blinded and placebo-controlled intervention trial.Objective: We aimed to perform the first placebo-controlled double-blinded test that investigates the effect of biodiversity on immune tolerance. Methods: In the intervention group, children aged 3-5 years were exposed to playground sand enriched with microbially diverse soil, or in the placebo group, visually similar, but microbially poor sand colored with peat (13 participants per treatment group). Children played twice a day for 20 min in the sandbox for 14 days. Sand, skin and gut bacterial, and blood samples were taken at baseline and after 14 days. Bacterial changes were followed for 28 days. Sand, skin and gut metagenome was determined by high throughput sequencing of bacterial 16 S rRNA gene. Cytokines were measured from plasma and the frequency of blood regulatory T cells was defined as a percentage of total CD3 +CD4 + T cells. Results: Bacterial richness (P < 0.001) and diversity (P < 0.05) were higher in the intervention than placebo sand. Skin bacterial community, including Gammaproteobacteria, shifted only in the intervention treatment to resemble the bacterial community in the enriched sand (P < 0.01). Mean change in plasma interleukin-10 (IL-10) concentration and IL-10 to IL-17A ratio supported immunoregulation in the intervention treatment compared to the placebo treatment (P = 0.02). IL-10 levels (P = 0.001) and IL-10 to IL-17A ratio (P = 0.02) were associated with Gammaproteobacterial community on the skin. The change in Treg frequencies was associated with the relative abundance of skin Thermoactinomycetaceae 1 (P = 0.002) and unclassified Alphaproteobacteria (P < 0.001). After 28 days, skin bacterial community still differed in the intervention treatment compared to baseline (P < 0.02). Conclusions: This is the first double-blinded placebo-controlled study to show that daily exposure to microbial biodiversity is associated with immune modulation in humans. The findings support the biodiversity hypothesis of immune-mediated diseases. We conclude that environmental microbiota may contribute to child health, and that adding microbiological diversity to everyday living environment may support immunoregulation.Peer reviewe
Graphic solution for a visual and print campaign for a periodical cultural event
Tato bakalářská práce zpracovává novou vizuální identitu a tiskovou kampaň kulturní akce Letní shakespearovské slavnosti. Vizuální identitu tvoří logotyp a série ilustrací, které jsou dále rozpracované do plakátů, letáků, katalogu, propagačních předmětů a dalších tiskovin.ObhájenoThis bachelor thesis develops a new visual identity and press campaign for the cultural event The Summer Shakespeare Festival. The visual identity consists of a logotype and a series of illustrations, which are further developed into posters, catalogue, promotional items and other printed materials
- …