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Patent Value Determinants
Štefánková, Stanislava ; Korytárová, Jana (referee) ; Němec, Daniel (referee) ; Polednáková, Anna (referee) ; Režňáková, Mária (advisor)
The dissertation extends the line of research in the field of patent valuation by interconnecting two main strands, the evaluation of quality of patent rights based on their characteristics on one hand, and monetary valuation of patents as assets on the other hand. Moreover, the dissertation proposes and verifies the idea that the value of a patent is driven also by the ability of its owner to use the competitive advantage gained. The aim is to identify characteristics of Czech corporate patents and their owners that affect their value and to propose a way to implement this knowledge in monetary patent valuation. The effect of several ex ante and ex post indicators on patent's life was analysed employing survival analysis methods. Factors that significantly affect the lifespan of patents of Czech companies were identified using the Cox proportional hazard model. The company’s ability to benefit from competitive advantage was measured by its return on assets and return on equity, which were described by a linear mixed model. Finally, the combined effect of patent characteristics and the firm’s ability to materialize the competitive advantage on patent renewal was analysed employing the joint model for longitudinal and censored data. The results revealed positive effect on the chance of patent renewal of patent backward citation, and the concordance level between patents' technological-class codes and those of their antecedent, i.e., documents it refers to. Conversely, the size of the patent portfolio and the number of inventors have a negative effect on the chance of patent renewal. Small and medium businesses’ patents are less likely to be renewed. The effect of the patent family size, the age of the company and the patent pendency time is time-dependent, it initially lowers the chance of renewal, but its strength gradually weakens. The economic life of patents was predicted based on the results of the joint model using Monte Carlo simulation, furthermore, the implications for monetary patent and business valuation were discussed regarding its investment value.
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Modeling insurance claims of vehicles with extended warranty
Škorňa, Šimon ; Zouhar, Jan (advisor) ; Frýd, Lukáš (referee)
The aim of this bachelor thesis is to introduce reader to possibilities of empirical analysis of insurance claims. Benefit of this thesis is description of effects that certain variables have on occurrence of insurance claims, while using wide range of suitable modelling techniques. Before the techniques are presented, reader is briefly introduced to issues of car insurance company. Insurance claims are modelled by most common techniques such as models with binary response variable and count models as well as survival analysis, which uses variable capturing number of days until claim occur. Results of above mentioned models are discussed and subsequently compared, which allows to demonstrate robustness of these results.
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