Private Equity and Venture Capital: Investment Fund Structures in Europe

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dc.contributor.authorZinecker, Marekcs
dc.contributor.authorSvirák, Pavelcs
dc.contributor.authorHodinková, Monikacs
dc.coverage.issue2cs
dc.coverage.volume2012cs
dc.date.issued2012-12-31cs
dc.description.abstractSuitable legal fund structures for private equity and venture capital (PE/VC) investments and their tax treatment have been considered as a key factor for stimulating the business environment. The Czech Venture Capital Association stresses that legal barriers are an important reason behind the limited scope of resources available to domestic PE/VC funds. Legal barriers prevent the establishment of a standard PE/VC fund in the territory of the Czech Republic, which fact in turn has a negative impact on the level of development of the domestic PE/VC market. In order to encourage the development of the market, this paper addresses filling the existing research gap concerning the following issues of the Czech PE/VC market: How the current Czech legislation regulates the legal fund structures for PE/VC investments? What is the tax treatment of PE/VC funds and individual investors in the Czech Republic? What are the legal and tax regulations on the main European markets for PE/VC? What are the key requirements for improvements of the current situation on the Czech PE/VC market? The nature of this study is explorative and it relies on primary and secondary data. Results of the study stress that the non-existence of the Limited Partnership legal form in particular is a weak spot of the current Czech legislation. The only Czech legal structure for PE/VC investments – the Qualified Investor Fund – does not sufficiently accommodate the requirements of market participants. Inadequate manner of market regulations can also be pointed out in addition to inflexible corporate law, tax obstructions and non-transparency of the current structures. In conclusion this study formulates proposals how to change the existing corporate law and the regulation of the PE/VC financial market segment in the Czech Republic. The proposals are based on models provided by selected European countries and create suitable conditions for a successful development of the Czech PE/VC market.en
dc.description.abstractS cílem podpořit rozvoj trhu rizikového a rozvojového kapitálu v ČR studie zkoumá následující otázky: Jaká je současná úprava právních a organizačních forem investování rizikového a rozvojového kapitálu v ČR? Jakému daňovému režimu podléhají institucionální a soukromí investoři? Jaká je úprava právních a organizačních forem pro investování rizikového a rozvojového kapitálu na hlavních evropských trzích? Jaké jsou klíčové požadavky v oblasti regulace tuzemského trhu? Studie se opírá o primární a sekundární data.cs
dc.formattextcs
dc.format.extent25-38cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationJournal of Eastern Europe Research in Business & Economics. 2012, vol. 2012, issue 2, p. 25-38.en
dc.identifier.doi10.5171/2012.471840cs
dc.identifier.issn2169-0367cs
dc.identifier.orcid0000-0003-1764-0904cs
dc.identifier.orcid0000-0003-4182-1916cs
dc.identifier.other97527cs
dc.identifier.researcheridAAL-5760-2021cs
dc.identifier.scopus36976830900cs
dc.identifier.urihttp://hdl.handle.net/11012/70194
dc.language.isoencs
dc.publisherIBIMAcs
dc.relation.ispartofJournal of Eastern Europe Research in Business & Economicscs
dc.relation.urihttp://ibimapublishing.com/articles/JEERBE/2012/471840/cs
dc.rightsCreative Commons Attribution 3.0 Unportedcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/2169-0367/cs
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/cs
dc.subjectPrivate Equityen
dc.subjectVenture Capitalen
dc.subjectTax and Legal Environmenten
dc.subjectFund Structuresen
dc.subjectTax Treatment.en
dc.subjectRizikový a rozvojový kapitál
dc.subjectprávní a organizační formy
dc.subjectzdaňování
dc.titlePrivate Equity and Venture Capital: Investment Fund Structures in Europeen
dc.title.alternativeRizikový a rozvojový kapitál: právní a organizační formy investování ve vybraných evropských zemíchcs
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-97527en
sync.item.dbtypeVAVen
sync.item.insts2025.02.03 15:43:25en
sync.item.modts2025.01.17 19:36:26en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav financícs
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