Pridobivanje lastnih delnic preko tretjih oseb

magistrska naloga

Helena Brandner (Avtor), Marijan Kocbek (Mentor)

Povzetek

Povzetek V magistrski nalogi avtorica na osnovi zgodovinske, primerjalne in ekonomske analize preverja znana dejstva o pridobivanju lastnih delnic preko tretjih oseb, da bi lahko potrdila tiste resnice, ki iz teh dejstev izhajajo. Skozi zgodovinske razloge pojasni restriktivnost politike kontinentalne Evrope ko gre za nakup lastnih delnic v primerjavi z anglosaksonskimi državami. Na podlagi obsežne primerjalne analize pravnih instrumentov, ki so vključeni v pravni posel pridobivanja lastnih delnic preko tretjih oseb je ugotovljeno, da je operacija podvržena zavzetemu pravnemu urejanju. Čeprav je pravni posel dopusten, je senca izigravanja vedno bolj prisotna. Pridobitev lastnih delnic preko tretjih oseb odpira vprašanja varovanja osnovnih postulatov gospodarske družbe. Skozi primerjavo anglosaksonskega dojemanja vloge kapitala in varovanja upnikov je narejena primerjava na nemški AktG, katerega povzema tudi Evropska Unija in analogno na slovenski ZGD-1. Avtorica ugotavlja, da so osnova za izigravanje ohlapna zakonodaja v odnosih med povezanimi družbami. Predstavljeni so določeni konflikti in prepovedi pridobivanja, ter njihova pravna ureditev. Obdelana je tudi odgovornost v primeru kršitev. S pomočjo ekonomske analize poskuša avtorica pojasniti učinek liberalizacije Druge direktive 77/91/EGS, ki je nastala kot odgovor na globalizacijo svetovnega gospodarstva in integracijo finančnih trgov v slovenskem finančnem prostoru. Skladno z ugotovitvami avtorica v zaključku naloge podaja rezultate analize problema in ugotavlja, da bi večja občutljivost udeležencev finančnih trgov v prihodnje lahko preprečila ciljno zlorabo inštrumenta odkupa lastnih delnic preko tretjih oseb.

Ključne besede

delnice;lastne delnice;upniki;kapital;magistrska dela;

Podatki

Jezik:	Slovenski jezik
Leto izida:	2011
Izvor:	Maribor
Tipologija:	2.09 - Magistrsko delo
Organizacija:	UM PF - Pravna fakulteta
Založnik:	[H. Brandner]
UDK:	336.763(043.2)
COBISS:	4201259
Št. ogledov:	3386
Št. prenosov:	631
Ocena:	0 (0 glasov)
Metapodatki:

Ostali podatki

Sekundarni jezik:	Angleški jezik
Sekundarni naslov:	Acquisition of own shares through third parties
Sekundarni povzetek:	Abstract Acquisition of own shares through third parties In her master thesis, the author evaluates using historical, comparative and economic analysis the known facts of the acquisition of respective shares through third parties, in order to confirm the truths which emerged from those facts. Through historical facts, the author explains the severity of the policy of continental Europe when buying respective shares in comparison with Anglo-Saxon countries. On the basis of an extensive comparative analysis of legal instruments, which are included in the transaction for the acquisition of own shares through third parties it was found that the operation was committed to the legal regulation. Even though the transaction is permissible, the shadow of circumvention is increasingly present. Acquisition of own shares through third parties is opening questions about the protection of the basic postulates of the company. Through the comparison of Anglo-Saxon perceptions, of the role of capital and protection of creditors, the comparison with German AktG is made. The latter also adopts the European Union and the similarity to the Slovenian Companies Act-1. The author concludes that the basis for circumvention is lax laws in relations between associated companies. What are presented are specified conflicts and a ban of production and their regulation. Treated is also the responsibility in case of infringements. With the help of economic analysis the author is trying to explain the impact of liberalization of the Second Directive 77/91/EEC, which emerged as a response to the globalization of world economy and financial market integration in the Slovenian financial environment. In conclusion, the author presents according to the findings, the results of the analysis of the problem and remarks that increased sensitivity to the participants of financial markets in the future could prevent the misuse of a target instrument purchase its own shares through third parties.
Sekundarne ključne besede:	legal capital;protection of creditors and shareholders;Company ACT-1;ZTFI;ZDPO;AktG;Second Directive 77/91/EEC;Directive 2006/68/ES;motives and risks of acquiring own shares;own shares;acquisition of own shares through third parties;related companies;subsidiaries;the company is majority owned;interdependent society.;
URN:	URN:SI:UM:
Vrsta dela (COBISS):	Magistrsko delo
Komentar na gradivo:	Univ. v Mariboru, Pravna Fakulteta
Strani:	154 f.
Ključne besede (UDK):	social sciences;družbene vede;economics;economic science;ekonomija;ekonomske vede;finance;finance;money;monetary system;banking;stock exchanges;denar;monetarni sistem;bančništvo;borzništvo;
ID:	998561