Private equity fund structures in Czech Republic within the framework of the new institutional economics
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F17%3APU124396" target="_blank" >RIV/00216305:26510/17:PU124396 - isvavai.cz</a>
Výsledek na webu
<a href="http://econpapers.repec.org/paper/peswpaper/2017_3ano114.htm" target="_blank" >http://econpapers.repec.org/paper/peswpaper/2017_3ano114.htm</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.24136/eep.proc.2017.2" target="_blank" >10.24136/eep.proc.2017.2</a>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Private equity fund structures in Czech Republic within the framework of the new institutional economics
Popis výsledku v původním jazyce
Research background: Institutional aspects of a well-functioning private equity and venture capital market are emphasized in the recent academic literature. In particular, a favourable tax and legal environment is essential, since formal institutions enable the industry to attract a larger volume of investors and thus to contribute more efficiently to the growth of GDP. In the Czech Republic, however, legal barriers represent an essential obstacle affecting a rather poor scope of resources available to domestic private equity and venture capital funds. Purpose of the article: This paper examines the current tax and legal environment for private equity and venture capital investments in the Czech/ Republic. Proposals for prospective improvements of legal and tax framework are made in the empirical part of the study. Methodology/methods: As the phenomenon under study is complex and explanatory in nature, qualitative data with content analysis proved to be the best way how to assess institutional framework for PE/VC in the Czech Republic. Data collection methods cover a comparative analysis of scientific literature documents and reports, as well as primary data from interviews with experts in the industry. The results of both secondary and primary data analysis were categorized and core lacks in the institutional framework were identified and discussed. Finally, proposals for prospective improvements of the institutional framework are made. Findings & Value added: The conducted analysis implies that the issue of the legal and organisational structure suitable for PE/VC funds may be deemed resolved in the Czech Republic. A Czech equivalent to a Limited Partnership (SICAR), i.e. a limited partnership with investment certificates, has already with provided with sufficient support in the legislation in terms of the legal form. The legal form is a necessary, yet not sufficient condition. A tax handicap was identified implying that it is necessary to amend the tax law so tha
Název v anglickém jazyce
Private equity fund structures in Czech Republic within the framework of the new institutional economics
Popis výsledku anglicky
Research background: Institutional aspects of a well-functioning private equity and venture capital market are emphasized in the recent academic literature. In particular, a favourable tax and legal environment is essential, since formal institutions enable the industry to attract a larger volume of investors and thus to contribute more efficiently to the growth of GDP. In the Czech Republic, however, legal barriers represent an essential obstacle affecting a rather poor scope of resources available to domestic private equity and venture capital funds. Purpose of the article: This paper examines the current tax and legal environment for private equity and venture capital investments in the Czech/ Republic. Proposals for prospective improvements of legal and tax framework are made in the empirical part of the study. Methodology/methods: As the phenomenon under study is complex and explanatory in nature, qualitative data with content analysis proved to be the best way how to assess institutional framework for PE/VC in the Czech Republic. Data collection methods cover a comparative analysis of scientific literature documents and reports, as well as primary data from interviews with experts in the industry. The results of both secondary and primary data analysis were categorized and core lacks in the institutional framework were identified and discussed. Finally, proposals for prospective improvements of the institutional framework are made. Findings & Value added: The conducted analysis implies that the issue of the legal and organisational structure suitable for PE/VC funds may be deemed resolved in the Czech Republic. A Czech equivalent to a Limited Partnership (SICAR), i.e. a limited partnership with investment certificates, has already with provided with sufficient support in the legislation in terms of the legal form. The legal form is a necessary, yet not sufficient condition. A tax handicap was identified implying that it is necessary to amend the tax law so tha
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
—
OECD FORD obor
50201 - Economic Theory
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2017
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
Proceedings of the 9th International Conference on Applied Economics Contemporary Issues in Economy
ISBN
978-83-65605-05-4
ISSN
—
e-ISSN
—
Počet stran výsledku
9
Strana od-do
165-173
Název nakladatele
Institute of Economic Research
Místo vydání
Toruń, Poland
Místo konání akce
Toruń, Poland
Datum konání akce
22. 6. 2017
Typ akce podle státní příslušnosti
WRD - Celosvětová akce
Kód UT WoS článku
—