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Investment Environment in the Virtual Real Cash Economy
Lehnert, Filip ; Hlavinka, Roman (referee) ; Budík, Jan (advisor)
The subject of this thesis is to introduce the reader to the issue of possible financial investment in the virtual economy with real funds and design strategies to maximize the initial capital appreciation. The introduction describes the analysis of virtual PED currency, the economy and the system of publicly traded shares. The main part is focused on presenting the results of practical traded investment based on fundamental analysis, speculation about the intrinsic value of the shares and evaluating applied strategies, including the benefits of work.
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Proposal for an amendment juristic forms of business subject
Krýsa, Pavel ; Kružík, Milan (referee) ; Martinovičová, Dana (advisor)
The legal form change of a trading company conversion is a difficult process due to which the structure of the company changes dramatically. This step is a result of the company dramatical growth. Also lately the company goes through increasing demand factor of its market environment. The purpose of the company legal form change in our case is a clearer capital structure assignment and also the possibility of free tallage disposal.
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Selected legal issues of corporate governance in the Czech Republic
Filip, Václav
The thesis is divided into several parts. The first part contains categorization of corporate governance systems and their fundamental characteristics. Author divides them according to criteria of the ownership structure and organizational structure and considers the influence of the corporate governance system to the protection of shareholders and the value of their shares. In the next part identifies three basic types of agency problems and discusses market and legal instruments that might reduce these problems. In conclusion, this chapter deals with the modern trend of regulation of quoted companies that are codices of corporate governance. The third, fourth and fifth part are the key parts with respect to analysis of domestic legal regulation. In the third part is the main focus given to the legal regulation of providing information to investors and shareholders. The field of transparency of joint-stock companies is the mostly regulated part by the European law regulation that was massively changed and lead to the strong modification of local laws regulation of new member states of the European Union including the Czech Republic as well as the developed founding members. In the fourth part is analyzed organizational structure of the quoted company with respect to the distribution of the powers between...
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State ownership and ownership concentration as determinants of dividend policy
Picálek, Jan ; Čornanič, Aleš (advisor) ; Malinská, Barbora (referee)
This bachelor thesis complements the existing research on implications of various ownership structures on dividend policy. It extends the literature focused on state ownership and its impact on dividend amount paid out to shareholders for testing such relationship in the environment of EU listed stock market and EU government agencies, scope so far lacking in the scientific literature. Moreover, it provides new way of testing agency theory of dividends by adopting Herfindahl's index as proxy of ownership concentration. Therefore, interaction between shareholders is accounted for as opposed to the commonly used proxy largest shareholder. As a result, this thesis helps to explain relations between various ownership structure characteristics and dividend policies. Primary econometric methods, panel data estimation methods, of this thesis found significantly positive relationship between state owned enterprises and the amount of profit distributed among shareholders. Compared to existing research on emerging economy of China, less evidence is found. Therefore, I argue that tunnelling tendencies in EU are substantially lower due to level of market development and minority investor protection in EU. The results also back up the agency theory, however, its influence is found to be lower than proposed by...
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SQUEEZE-OUT in accordance with the new Act on Business corporations
Šorf, Jiří ; Horáček, Tomáš (advisor) ; Josková, Lucie (referee)
Squeeze-out has proved to be a modern legal mechanism enabling the main shareholder to contribute towards the streamlining of the joint-stock company management. The core is the legal procedure of obligatory transfer of proprietary rights connected with the remaining shares from the minority shareholders to the main shareholder. With regard to the interference within the right to property, as one of the basic human rights, the law creates a mandatory reglementation comprising a considerable number of substantial law and procedural law terms necessary for a successful completion of squeeze-out procedure. This work attempts to make its reader familiar with the new legal reglementation in accordance with the Act No. 90/2012 Col. on business corporations and points out its complexity in comparison with its predecessor - the Act No. 513/1991 Col. and at the same time, it brings an outlook into the deeply rooted institutes connected with the squeeze-out procedure which are still missing among the Czech provisions. KEY WORDS Squeeze-out, securities, shareholder JEL KLASIFIKACE K12 - Contract Law, JEL: K22 - Business and Securities Law
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Proposal for an amendment juristic forms of business subject
Krýsa, Pavel ; Kružík, Milan (referee) ; Martinovičová, Dana (advisor)
The legal form change of a trading company conversion is a difficult process due to which the structure of the company changes dramatically. This step is a result of the company dramatical growth. Also lately the company goes through increasing demand factor of its market environment. The purpose of the company legal form change in our case is a clearer capital structure assignment and also the possibility of free tallage disposal.
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Investment Environment in the Virtual Real Cash Economy
Lehnert, Filip ; Hlavinka, Roman (referee) ; Budík, Jan (advisor)
The subject of this thesis is to introduce the reader to the issue of possible financial investment in the virtual economy with real funds and design strategies to maximize the initial capital appreciation. The introduction describes the analysis of virtual PED currency, the economy and the system of publicly traded shares. The main part is focused on presenting the results of practical traded investment based on fundamental analysis, speculation about the intrinsic value of the shares and evaluating applied strategies, including the benefits of work.
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The Legal Status of Partners in a Private Limited Liability Company Compared to the Legal Status of Partners (shareholders) in a Joint Stock Company
Andreisová, Lucie ; Kříž, Radim (advisor) ; Müller, Milan (referee)
This diploma thesis poses the question of the legal status of partners in a private limited liability company compared to the legal status of partners (shareholders) in a joint stock company. Although both companies are in a theory of Czech business law classified as capital corporations, which means that they have much in common, the legal enactments which are regulating the area of the partner's legal status in both legal forms contain many significant differences. Some of them may well be considered as slight, unimportant details, whereas the others represent fundamental differences, which, for the partner's legal status, are more than crucial. The partner's participation in the company's activities and in its management could be mentioned as one of the examples. Meanwhile, the partners in a private limited liability company typically participate in the whole life of their corporation, the shareholders in a joint stock company only influence the life of their corporation implicitly, through their influence over the personal structure of the executive body (called board of directors), which is entrusted with the power of the company's management. The members of this executive body are usually represented by people outside of the company; the theory talks about professional, hired management, which is leading to a phenomenon called corporate governance. This diploma thesis not only contains chapters on the legal status of partners in the given types of corporations, it also includes a general interpretation of the terms private limited liability company and joint stock company. Only a correct representation of these terms can lead to an accurate understanding of the partner's legal status. Finally, there are also several comparative thoughts and tables, including some decisions of the business courts added at the end of the paper. Through the means of the above mentioned business court's decisions the author is attempting to demonstrate how the partner's rights and obligations are being performed in practice.
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Share holder's corporate rights
Košařová, Dita ; Kříž, Radim (advisor) ; Labancz, Ladislav (referee)
This bachelor dissertation is dedicated to the issue of share holder's corporate rights. The dissertation is divided into two parts so that it could provide its readers with an adequate amount of information about both theoretical and practical part of the problem. The theoretical part deals with the definition of the share holder's corporate rights and it is supposed to give its readers enough information so that they could subsequently comprehend the lawsuits analyzed in the practical part and envision functioning of Czech courts in the domain of share holder's corporate rights.
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Vlastní kapitál akciové společnosti
Mauerová, Alexandra ; Mejzlík, Ladislav (advisor)
Tato bakalářská práce pojednává o vlastním kapitálu akciové společnosti dle současné právní a účetní úpravy v ČR. Práce definuje obecně vlastní kapitál akciové společnosti, charakterizuje ale i jeho jednotlivé složky a zejména se zaměřuje na vztahy mezi jednotlivými složkami vlastního kapitálu a na možné změny ve výšce a struktuře vlastního kapitálu akciové společnosti. Stručně charakterizuje rovněž základní práva a povinnosti akcionářů akciové společnosti.
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