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Stock Market Manipulation
Průša, Ivo ; Dědič, Jan (advisor) ; Musílek, Petr (referee) ; Kotásek, Josef (referee)
The disertation thesis deals with the market abuse through the market manipulation. Its focuses, in particular, to the merits of the regulation itself and specific regimentation. Manipulation is one of two pillars which creates the subject of the area of law dealing with market abuse. The thesis is divided into five basic parts, which are further divided into seventeen chapters. We proceed from the general definition of basic concepts, categories, and economic context to clarify a particular concept of manipulation and its operation in practice to particular subject matters of manipulation. The conclusion is then added to the list of negative description and liability arising from manipulation. The first five chapters, which are contained in Part A deals with general introductory remarks (Chapter 1), including notes dealing with the concept and methodology of the thesis, its objectives and determination of verified hypotheses (Chapters 3, 4 and 5). Chapter 2 of this part is partially devoted to the issue of terminology used in the thesis. We note here the fact the existing regulation limiting ratio of the concepts and conclude that this thesis will use principally general terms, i.e the market (instead of the concept of capital or regulated market) and instrument (instead of the term financial...
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Cooperativity of cytochrome P450 monooxygenase system in view of the modulation of drug and carcinogen metabolism
Dědič, Jan ; Hodek, Petr (advisor) ; Ječmen, Tomáš (referee)
System of mixed function oxidases and oxygenases is very much involved in metabolism of xenobiotics and endogenous compounds. System consists of several components: cytochrome P450, NADPH: cytochrome P450 oxidoreductase (CPR), cytochrome b5 and NADH: cytochrome b5 oxidoreductase. It was found, that all these components interact with each other, thus ensuring operation of the entire system. Cooperativity of the system is then dependent on many factors, notably the nature of the interactions between the components. Apparently the most frequently discussed are the interactions between CPR, cytochrome b5 and cytochrome P450. The main redox partner of cytochrome P450 is CPR that during the electron transport undergoes a significant conformational change. Cytochrome b5 may have both inhibitory and stimulatory effects on the enzymatic reaction and its mechanism of action has not been fully elucidated. Cytochrome P450 can interact among themselves to create complexes which presence may have significant influence on enzymatic reaction. However cooperativity of the system in terms of character of enzymatic reaction does not depend only on quantitative effects, such as inhibition and stimulation. It turns out, that also depends on qualitative effects, because it has been shown, that certain changes in the...
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European (public limited-liability) company
Čech, Petr ; Černá, Stanislava (advisor) ; Dědič, Jan (referee) ; Štenglová, Ivanka (referee)
Thirty years of disputes concerning the SE-Regulation and the final compromise regarding the structure of the European company have engaged much expert attention and potential. The European public, both academic and business, have had great hopes for the European company. The reality after seven years from the entry into force of the SE-Regulation remains far behind these expectations. The legal praxis has confirmed that the numbers of existing European companies established in the various Member States largely correspond to the amount of publicity, which the European company has been given, and thus the level of general awareness of the European company amongst the business circles in the respective countries. It is not a mere coincidence that the majority of the existing European companies have been established in the Czech Republic and in Germany. The academic environment in both Member States has from the outset intensely followed, analysed and presented the European company to its potential economic users and beneficiaries. The Czech Republic may be flattered by the fact that it is home to the by far largest number of all European companies EU- wide. This is, undoubtedly, also the result of various commercial offers for the establishment of a European company, present on the market. The...
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Regulation of the Investor Compensation Scheme in the Legal System of the Czech Republic
Němec, Libor ; Štenglová, Ivanka (advisor) ; Dědič, Jan (referee) ; Patěk, Daniel (referee)
Law Faculty Charles University in Prague DEPARTMENT OF COMMERCIAL LAW Regulation of the Investor Compensation Scheme in the Legal System of the Czech Republic Abstract of the dissertation Dissertation Supervisor: doc. JUDr. Ivana Štenglová Author: JUDr. Libor Němec April 2012 This dissertation deals with the Czech legal regulation of the investor compensation schemes. The investor compensation schemes are special compensation mechanisms financed by investment firms (securities broker dealers) whose main purpose is a protection of retail investors, customers of securities brokers dealers, against a default of securities broker dealers (investment firms) resulting in their inability to meet their obligations against their clients and to return to the clients their assets which were entrusted to these firms in connection with investment business. In the case of such failure the compensation schemes will compensate the loss to the clients (in a specified amount and under given conditions). The investor compensation schemes therefore substantially strengthen the confidence of investors in the capital market which is absolutely necessary not only for their smooth operation but also for the smooth operation of the whole economy. Regarding the importance of investor compensation schemes for preservation of the...
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The issues of guasi-personality in business law
Pelikán, Robert ; Štenglová, Ivanka (advisor) ; Černá, Stanislava (referee) ; Dědič, Jan (referee)
Imperfect Personality in Commercial Law Robert Pelikán Abstract In the theory of law, legal personality (the terms "legal person" and "legal personality" are used in this text in their continental sense, i.e. describing both non-human and human entities and their legal capacity) is usually seen as a simple quality having only values, true or false. The existing theories of legal personality were, therefore, trying to find such characteristics of legal personality, which will fully describe all legal persons existing in practice. Such an effort had to fail or, more precisely, the process of search for such a common denominator had to result in the disappearance of all the key characteristics necessary for understanding of the phenomenon of legal personality. The exploration of legal personality must hence begin with the finding that legal personality is not a quality having only values - true or false - but rather a full scale of values from nil to a (rarely seen) full legal personality, moreover appearing in many dimensions. In order to duly explain the phenomenon, the theory must not search for a common denominator of existing persons, but describe the concept of full legal personality and explain the consequences of imperfection of existing legal persons in any of such qualities. Those requirements cannot...
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Mandatory Takeover Bid
Javorská, Iva ; Dědič, Jan (advisor) ; Čech, Petr (referee)
The main focus of this paper is an analysis of the Czech legal regulation of the mandatory takeover bid under the Act No. 104/2008 Coll., on Takeover Bids. This paper examines the individual aspects of this regulation and identifies problematic provisions as sources of difficulaties in interpretion, legal uncertainty and the non- compliance (due to the insufficient implementation of) with the Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids (the "Thirteenth Directive"). The main issues identified and discussed in this paper include, in particular: (i) the absence of a fixed threshold of the share in the voting rights of a target company giving rise to an obligation to make a mandatory takeover bid; (ii) rules for the calculation of the mandatory takeover bid price that enable an interpretation under which (a) the price for the acquisition of the controlling stake of shares that triggers the obligation to make the mandatory takeover bid; or (b) the transactions with shares of the target company executed between the date on which the mandatory takeover bid obligation has arisen and the date of the publication of the takeover bid; must not be reflected in the offer price; (iii) the absence of an accurate specification of the moment as of which the obligation...
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