This paper presents the innovative activity of enterprises as a process that is risky but necessary for the survival of a company in a competitive market, and as a way to maximize the long-term value for the owners. Risks and benefits were analysed, and the possible sources of added value in innovative projects were identified in the context of the capital market equilibrium and the budgeting of investments. Innovative projects become a source of added value for investors if the financial effects such as changes in the residual cash flow and higher growth rate outweigh the combined impact on the risk generated by two factors: increase of systematic risk and emerging specific risks.

Detailed studies have suggested that the critical heat flux in the form of dryout in minichannels occurs when the combined effects of entrainment, deposition, and evaporation of the film make the film flow rate go gradually and smoothly to zero. Most approaches so far used the mass balance equation for the liquid film with appropriate formulations for the rate of deposition and entrainment respectively. It must be acknowledged that any discrepancy in determination of deposition and entrainment rates, together with cross-correlations between them, leads to the loss of accuracy of model predictions. Conservation equations relating the primary parameters are established for the liquid film and vapor core. The model consists of three mass balance equations, for liquid in the film as well as two-phase core and the gas phase itself. These equations are supplemented by the corresponding momentum equations for liquid in the film and the two-phase core. Applicability of the model has been tested on some experimental data.

One of the oldest ways of showing the practical realization of a call to holiness is the imitation of Christ. In the past this idea, with additional role models included, was also used in the moral theological refection on human development and sanctifcation. However, those attempts found it diffcult to defne the subject of imitation as well as imitation itself. Also today, with some reservations, the idea of imitation can be used for a methodical presentation of the Christian vocation to holiness and of concrete ways how this vocation can be realized. When taken together with the biblical category of the vocation and of the gift, this idea allows to present Christian moral life in a synthetic way and can be the reference point for specifc moral obligations. However, when using the category of imitation in the correct presentation of a call to holiness, correct terms are needed as well as an understanding of the vocation as found in Revelation and in particular and modern behavioural sciences. Such a presentation would emphasize important features of Christian morality, especially its religious, personalistic and social character, and would manifest misconceptions of both extreme autonomy and extreme heteronomy.