Benchmarking Study on the Venture Capital Market in the Czech Republic, Hungary and the Netherlands

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F16%3A43910319" target="_blank" >RIV/62156489:43310/16:43910319 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.21511/imfi.13(3-1).2016.05" target="_blank" >http://dx.doi.org/10.21511/imfi.13(3-1).2016.05</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21511/imfi.13(3-1).2016.05" target="_blank" >10.21511/imfi.13(3-1).2016.05</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Benchmarking Study on the Venture Capital Market in the Czech Republic, Hungary and the Netherlands

Popis výsledku v původním jazyce

The main aim of paper is seen at two levels: the first level to assess the situation on the venture capital market in the Czech Republic based on the results of a comparative study of selected countries of European Union is the area of venture capital financing. The second level is to propose measures, whose implications could increase the effectiveness of venture capital to the business sector in the Czech Republic. The main purpose of the paper is to identify internally homogeneous groups of the EU states regarding the situation on the venture capital market in the European Union Member States. Based on the results of cluster analysis, EU countries were identified, Hungary and the Netherlands, in which legislative conditions with venture capital market were subsequently analysed and the results were compared with the situation in the Czech Republic. The Netherlands as a representative of the countries with developed market risk capital, Hungary as a representative of CEE countries. The problem of undeveloped VC market in the Czech Republic is not in demand for venture capital, but in its supply. Pension funds and insurance companies cannot invest more than 5% in risky assets. In the Czech Republic, there are no tax incentives to attract investors and even government programs that could complement the missing investors and support the creation of venture capital funds. This low level of venture capital usage for the development of enterprises could also be seen in misunderstanding and ignorance of this form of financing, the inability of management to prepare a business plan and to attract a potential investor, fears of administrative burdens arising from an investor and finally questionable return on investment when for example public offering of shares, which achieves a high appreciation, is in the Czech Republic underused.

Název v anglickém jazyce

Benchmarking Study on the Venture Capital Market in the Czech Republic, Hungary and the Netherlands

Popis výsledku anglicky

The main aim of paper is seen at two levels: the first level to assess the situation on the venture capital market in the Czech Republic based on the results of a comparative study of selected countries of European Union is the area of venture capital financing. The second level is to propose measures, whose implications could increase the effectiveness of venture capital to the business sector in the Czech Republic. The main purpose of the paper is to identify internally homogeneous groups of the EU states regarding the situation on the venture capital market in the European Union Member States. Based on the results of cluster analysis, EU countries were identified, Hungary and the Netherlands, in which legislative conditions with venture capital market were subsequently analysed and the results were compared with the situation in the Czech Republic. The Netherlands as a representative of the countries with developed market risk capital, Hungary as a representative of CEE countries. The problem of undeveloped VC market in the Czech Republic is not in demand for venture capital, but in its supply. Pension funds and insurance companies cannot invest more than 5% in risky assets. In the Czech Republic, there are no tax incentives to attract investors and even government programs that could complement the missing investors and support the creation of venture capital funds. This low level of venture capital usage for the development of enterprises could also be seen in misunderstanding and ignorance of this form of financing, the inability of management to prepare a business plan and to attract a potential investor, fears of administrative burdens arising from an investor and finally questionable return on investment when for example public offering of shares, which achieves a high appreciation, is in the Czech Republic underused.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

—

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Investment Management and Financial Innovations

ISSN

1810-4967

e-ISSN

—

Svazek periodika

13

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

UA - Ukrajina

Počet stran výsledku

12

Strana od-do

191-202

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85017306700