National Repository of Grey Literature 279 records found  1 - 10nextend  jump to record: Search took 0.00 seconds. 
Tax implications of employee stock option plans and their alternatives in the Czech Republic
Bachtík, Tomáš ; Sejkora, Tomáš (advisor) ; Kohajda, Michael (referee)
1 ABSTRACT Tax implications of employee stock option plans and their alternatives in the Czech Republic This thesis deals with possible ways in which Czech startups in the form of a limited liability company can enable their employees to participate in the value of the company. The main goal of the thesis is to give the reader a general overview of what possibilities these dynamic companies have and at the same time to analyze them both from a civil law (especially commercial law) perspective and from a tax law perspective. Another goal was to evaluate whether one optimal type can be selected from this range of diverse programs at all. Finally, the author tried to outline the necessary adjustments to the relevant legislation so that stock option plans can be effectively implemented in companies. To achieve these goals, the work is divided into six parts. The first introductory part explains the focus of the thesis on the issue of option plans (and their alternatives) in startups in the form of a limited liability company, both for employees and contractors supplying startups with their services as business partners. The second part describes the general non-legal aspects concerning enabling the employees to participate in the value of the company, which must be considered before deciding on the introduction...
Financial services provided by FinTech companies
Lupač, Tomáš ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
Financial services provided by FinTech companies Abstract The diploma thesis focusing on Financial Services provided by FinTech companies aims to provide a comprehensive legal overview of modern issues in the financial market. The financial market has undergone a significant shift in the last decade, especially thanks to new innovative solutions, that are made possible by the rapid technological development of the 20th and 21st century. FinTech companies are often startups which, unlike the traditional financial institutions, have not been and today are still not bound by the pitfalls and strict conditions of the regulatory environment, when creating their business model and their products. FinTech companies little by little began to benefit from these regulatory gaps and gradually brought new types of financial services to financial market customers, which in certain situations may pose a very dangerous risk to the financial market and its stability. The diploma thesis is divided into three chapters and tries to give a comprehensive description of how technologies have influenced the world of finance throughout history, what legislation currently affects FinTech and what approach is taken by individual states and the European Union. The first chapter focuses primarily on the complete foundations of...
Current regulation governing acquisition financing
Petrů, Jan ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
Current regulation governing acquisition financing Abstract The thesis deals with financing of share deal acquisition operations. The first chapter points out idiosyncrasies of acquisition operations, providing context for the rest of the thesis. The second chapter deals with loan financing, one of the two financing methods described. The chapter starts off with Czech Civil Code's rules governing loans and goes on to provide an overview of stipulations used in corporate banking practice, including the usual arrangement of rights and obligations of lenders and borrower in case of syndicated loans. A subchapter about credit risk rounds off the second chapter. Not restricted to public law regulation, it describes derivatives used to hedge against credit risk and touches upon the influence of regulation on cost of loan financing. The third chapter is about bond financing. It offers a robust overview of Czech rules governing bonds as nominate debt securities and their issue. The consequent subchapter on placement of bonds handled by an investment firm serves as an equivalent of the banking practice- focused subchapter. Subjects that perform various tasks after placement in order to simplify the administration of a given issue are a topic which completes the third chapter. The conclusion of the thesis sets out...
Czech national bank, legal status and content of activity
Semecký, Petr ; Kohajda, Michael (referee)
disertační práce Petr Semecký Česká národní banka, právní postavení a náplň činnosti 5 Abstract A. Objectives The main goal of the dissertation "The Czech National Bank, legal status and content of activity" is to quantify, qualify and draw as exact as possible conclusions about some aspects of the development, status and activities of the Czech National Bank in the future. To solve this task, the author has used in the introduction of this work three following key questions: 1. What are the implications for the Czech National Bank of the new bodies supervising the financial markets at european level? 2. What are the benefits and negatives of adopting the euro for the Czech Republic and should the Czech Republic actually join the European Monetary Union? 3. What impact will have the amendment of the Capital Adequacy Directive (the "Basel II") on the activities of the Czech National Bank? B. Methods By creating this work was used a wide range of research methods to ensure that there will be drawn conclusions with the best possible informative value. It is possible to mention particularly the method of recherche, abstraction, comparison and synthesis. C. Sources As the most important sources used by creating the work can be mentioned ecpecially, scientific publications, monographs, articles published...
The application of MiFID Directive to the activities of universal bank
Krčová, Kateřina ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
53 Abstract Application of MiFID directive on activities in universal bank MiFID or Markets on financial instruments Directive, is extensive and key European financial market regulation. Introduced into the laws of all the Member States many new applications and employed a large number of companies. The content of this work is to first clarify the concept of a universal bank, the bank and the reason why the Directive applies to them. Furthermore, analysis of specific activities and procedures, which are due to the introduction of the Directive into law occurred mainly by retail investors, the current clients of universal bank. Most attention is devoted to investor protection, mainly test the appropriateness and suitability, performance instructions for the customer. The following chapter is devoted to issues of organizational changes, the new rules required. Part of the text is devoted to the transposition process in individual countries and especially in the Czech Republic. Another chapter is concerned with problems that frequently appear in the application and in the last chapter outlines recent developments, particularly in the new draft directive, revising MiFID after almost five years of operation, which is just being born on the soil of the European Union. The conclusion is the finding that changes in...
Security agent under Czech law
Bujgl, David ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
1 Security agent under Czech law Abstract Despite the importance of secured debt financing in today's society, there is no Czech literature that comprehensively covers one of the most important aspects of securing of debt - the sharing of security among the financing entities by using the security agent. The aim of this thesis is to introduce the concept of the security agent under Czech law, including a description of transactions in which the security agent is used, a description of available security and a comparison with foreign law concepts of the security agent. The thesis compares the two main transaction areas in which the security agent is widely used, which are syndicated loans and bond issues, and describes several key differences that determine what form of external financing the borrower will choose. The thesis then deals with the involvement of financial institutions in these transactions with an emphasis on the role of the security agent who administers the security for the benefit of all creditors. The thesis also points out some problematic aspects arising out of the plurality of secured creditors in situations where the concept of the security agent is not used and emphasizes the importance of security in the event of the debtor's bankruptcy. The thesis also presents options for achieving...
Legal Aspects of Corporate Acquisitions
Korger, Matěj ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
Legal Aspects of Corporate Acquisitions The aim of the diploma thesis is to provide an analysis of significant economic and legal aspects of mergers and acquisitions in the Czech Republic, as well as to point out some specifics of the Czech market and describe loan acquisition financing in terms of financial law. The theoretical findings are then applied to a specific acquisition, which is still ongoing in 2020. The theoretical part of the thesis is divided into two sections. In the first, the thesis focuses on the analysis of growth strategies of companies that can be implemented in the current conditions of the market economy. Strategies are described here and then compared with one another. This part of the thesis also contains a comparison of the concepts of mergers and acquisitions, as they are often confused in practice. Here, the thesis also lists the typologies of both mergers and acquisitions that are commonly used. The second section of the theoretical part of the thesis provides an introduction to loan acquisition financing and the so-called leveraged buyout. The thesis outlines the method of loan acquisition financing together with some findings of financial theory regarding loan as such and loan law. On the contrary, the practical part of the thesis is conceived somewhat differently,...
Application problems of EU prospectus regulation in the Czech Republic
Mourek, Jan ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
Application problems of EU prospectus regulation in the Czech Republic Abstract The subject matter of this thesis is the analysis of certain application problems that are associated with the regulation of the prospectus at EU level, represented mainly by the relatively recently adopted so-called "Prospectus Regulation". The thesis aims to identify the main problems that may arise from the EU regulation of the prospectus in the case of its application in the Czech Republic. Following the identification of these problems, the subject of this thesis is to analyze these problems in terms of their severity, consequences for capital market participants, causes and possible solutions. The thesis is divided into five parts. The first part defines the definition of the term prospectus, its main requirements from a practical point of view, a brief history of securities regulation and the prospectus as a means of regulating the offering of securities to the public and the analysis of the importance of public offering of securities today. The second part focuses on the prospectus approval process in the Czech Republic, including a brief description of this process and an analysis of the application problems associated with this process. The third part of this work analyzes the problems associated with the uncertainty...
Hybrid Mismatches After the ATAD Theoretical Aspects of International Cooperation in Tax Matters
Hrdlička, Lukáš ; Boháč, Radim (advisor) ; Kohajda, Michael (referee) ; Matejová, Martina (referee)
Hybrid Mismatches After the ATAD Theoretical Aspects of International Cooperation in Tax Matters Abstract This dissertation argues that the current approach toward hybrid mismatches, i.e. linking rules, is ineffective and that EU Member States should consider and adopt other solutions to hybrid mismatches, in particular coordination rules, to achieve single taxation of cross-border income if it is their tax policy goal. I make this argument to help tax policymakers deal properly with hybrid mismatches while also achieving greater legal certainty for taxpayers and tax administrators. While pursuing my claim, I touch on the essential elements of current international taxation, describe certain sets of hybrid mismatches, discuss policy implications of hybrid mismatches' outcomes, and show what linking rules are and that they have many shortcomings. Consequently, I discuss various alternative solutions to hybrid mismatches and point out that coordination rules can be a better method to pursue. Using the preparatory discussion, I examine the Czech anti-hybrid mismatches rules and argue that EU Member States can, to some extent, still use coordination rules as a solution to hybrid mismatches under the ATAD. My analysis leads to practical and theoretical conclusions. I show that the academic literature does not...

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