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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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Duty of Loyalty of a Shareholder of a Capital Company
Krausová, Aneta ; Tomášek, Petr (advisor) ; Patěk, Daniel (referee)
Duty of Loyalty of a Shareholder of a Capital Company Abstract This thesis deals with the issue of the duty of loyalty of a shareholder of a capital company. It focuses mainly on the analysis of the duty of loyalty of a shareholder towards the company, and marginally presents the duty of loyalty of the company towards the shareholder and the duty of loyalty between the shareholders. The main objective of this thesis is to define the duty of loyalty and to analyse this duty in some of the relationships within a company. Central to this analysis is the interpretation of the provisions of Section 212 of the Civil Code, which I address in this thesis in turn. Due to the generality of the concept of loyalty, a key part of this thesis is the analysis of the existing decision-making practice of the courts, including the applicability of decisions based on the regulation before the recodification of private law. The thesis is divided into an introduction, four parts and a conclusion. The first part deals with the principle of good faith as the fundamental basis of the duty of loyalty, its nature as a general clause and its derived functions. The second part introduces the reader to the duty of loyalty in shareholder relations of a capital company on three levels. The main focus is on the shareholder's duty of...
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General meeting of limited liability company
Prokop, Lukáš ; Hurychová, Klára (advisor) ; Flídr, Jan (referee)
General meeting of limited liability company Abstract The thesis deals with the general meeting in a limited liability company. The aim of the thesis is first to analyse the nature of the general meeting as a body of a limited liability company and then to analyse the legal regulation concerning the scope, convening, conduct, decision-making and invalidity of resolutions of the general meeting. The thesis also contains several de lege ferenda considerations. The first part of the thesis focuses on the nature of the general meeting. The general meeting is classified among other bodies of the company, it is discussed what kind of body it is, who it consists of, etc. An analysis and comparison of the literature is made. Furthermore, the thesis deals with the situation when the company has a sole shareholder. The second part of the thesis is devoted to the competence of the general meeting. The competence is divided into individual components. Furthermore, selected areas of the competence of the general meeting are presented and analysed, with an emphasis on the amendment to the Companies Act of 2020. The author compares the opinions of various experts and takes his own views on the issue. Case law conclusions are also presented. The third part deals with the convening of the general meeting. It discusses the...
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Suspension of the voting rights in the capital companies
Bečvář, David ; Flídr, Jan (advisor) ; Hurychová, Klára (referee)
Suspension of the Voting Rights in the Capital Companies Abstract This thesis deals with the substantive regulation of preventive suspension of the voting rights concerning the capital companies. Its aim is to provide a comprehensive interpretation of the conditions of selected general cases of preventive suspension of the voting rights set out in the Business Corporation Act, to deal with some interpretative ambiguities and where appropriate, to offer possible solutions. The thesis is divided into five main chapters. The first chapter defines the concept of suspension and describes its impact on the position of shareholders, and consequently on the General Meeting. At the same time, the various general cases of preventive suspension of the voting rights are divided into two basic categories. The second chapter focuses on the case of suspension consisting of default in the fulfilment of deposit and surcharge obligations, which is the only case that falls into the first category of cases by law. The third chapter discusses the case of a conflict of interest arising when a decision is taken to remove a shareholder who is also a member of an elected body of a capital company from his position as a member of the elected body for breach of his duties in the performance of that position. Among other things, it...
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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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Termination of membership in limited liability company
Zanášková, Lucie ; Štenglová, Ivanka (advisor) ; Eichlerová, Kateřina (referee)
Termination of membership in limited liability company Abstract The thesis deals with meanings of termination of membership in limited liability company, namely by (i) transfer of business interest, (ii), stepping out of the company, (iii) agreement on termination of shareholder's participation in a company, (iv) exclusion of a shareholder, (v) cancellation of shareholder's participation by court, (vi) termination of shareholder's participation due to insolvency proceedings against the shareholder, and (vii) termination of shareholder's participation due to execution towards the shareholder's interest. The thesis further deals with termination of shareholder's participation due to death of the shareholder who is a natural person or winding-up of the shareholder which is a legal entity. After a short foreword follow chapters concerning general issues about the limited liability company as a type of a legal corporation, the rights and obligations of shareholders and the creation and termination of participation in a limited liability company. Chapters dealing with various meanings of termination of shareholder's participation in a limited liability company and a brief conclusion follow. The aim of this thesis is to analyze and clarify some interpretative and application difficulties arising in connection with...
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Statutory liability of members and other persons for debts of business corporations (including supranational corporations)
Trojan, Ivo ; Čech, Petr (advisor) ; Eichlerová, Kateřina (referee)
86 Abstract Statutory liability of members and other persons for debts of business corporations (including supranational corporations) The thesis aims to introduce the economic rationale behind the legal concept of limited liability, including the risks for creditors attached thereto, and to analyse the legal instruments designed to remedy the impacts of its misuse or abuse. Accordingly, this thesis attempts to point to the shortcomings of the current legal framework and to offer a solution thereto. For this purpose the author uses the traditional methods of legal interpretation and draws upon the laws of the United Kingdom, which inspired the authors of the Czech Corporations Act 2012 in many respects. After the opening chapter, which introduces the current legal framework for limited liability of shareholders and defines legal relations of company's agents towards third persons, the historic development of limited liability in the United Kingdom will be outlined in the second chapter. The introduction of limited liability in 19th Century was accompanied by intense society-wide debate, the findings of which will help to understand the limited liability in its wider context and will form the ground for the following assessment of its benefits and risks for creditors of limited liability companies. Third...
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Statutory Secondary Liability in the Law of the Limited Companies
Vrba, Milan ; Černá, Stanislava (advisor) ; Dvořák, Tomáš (referee) ; Josková, Lucie (referee)
Particular cases of statutory secondary liability in the law of limited companies are relatively frequent. Forasmuch as a publication providing comprehensive analysis of the subject matter is still missing, the aim of the thesis is to offer thorough treatise of the issue in its whole broadness. The first chapter analyses the secondary liability as the institution of the general law of obligations. Fundamental features of the secondary liability are pointed out and respective rights and duties of the relevant parties are outlined. The issue of subrogation, joint secondary liability, termination of the secondary liability and statutory bar of the rights arising therefrom are discussed. The second chapter deals with the statutory secondary liability of the members (shareholders) of the limited companies. The thesis shows that both debts and claims of company may be subject to secondary liability of its shareholders. The third chapter focuses on the statutory secondary liability of the members of company bodies (directors). Besides primary liability for the harm caused, the company law punishes the director's failure to observe his or her duties by means of secondary liability for the company's debts as well. Particular cases are critically analysed. The fourth chapter concentrates on the statutory...
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