L’objectif de notre travail est de vérifier s’il existe une relation entre les mécanismes de gouvernance exercée par les capital-Investisseurs et la performance financière des entreprises camerounaises. Selon les théories juridico – financières et cognitives, des mécanismes peuvent influencer la performance financière. A partir d’un échantillon de 70 entreprises, observées sur la période de cinq ans, nos résultats indiquent que, conformément aux prédictions de la théorie de l’agence et celles qui ont trait aux théories cognitives de la gouvernance, la performance financière croît en présence des mécanismes traditionnels et liés au capital-Investissement. D’autre part, les capital-Investisseurs développent un mécanisme de gouvernance disciplinaire et cognitif spécifiques à un environnement africain particulier. / The objective of our work is to test a relationship between governance mechanisms using by venture capitalist and financial performance of Cameroonians companies. According to the legal theories - Financial and cognitive, mechanisms can influence financial performance. From a sample of 70 firms over the period of five years, our results indicate that, as predicted by the theory of agency and one that features the cognitive aspects of governance, financial performance grew in the presence of traditional mechanisms and specific venture capital.

Private equity is a specific way of financing business, which increases the equity of firms and does not affect cash-flow of the business. This thesis provides basic information on the operation of private equity and an overview of the private equity market in the Czech Republic. One of the fundamental problems in the Czech market is currently the lack of promotion of private equity and venture capital. Communication activities of CVCA (The Czech Venture Capital and Private Equity Association), which covers the promotion and providing of information about this topic on the Czech market, shows significant shortcomings. The basic goal of this thesis is therefore to address this problem and design a communication strategy for CVCA. Identified are key target groups, tools and methods of communication, which should lead to more intensive promotion and education about venture capital and private equity on the Czech market.

This thesis aims to identify key performance indicators of private equity. At the beginning of the paper are defined both parts of private equity, criterias of each part and relationships among market participants. It is then outlined the history of the two main parts. In the next step is introduced global development with emphasis on the last 30 years. A larger space is then devoted to Europe, which will subsequently be a pivotal part of the work. Following this section is indicated methodology. In the next section is defined 7 countries, which are subsequently subjected to research. The fourth chapter is an empirical survey of individual States, Czech Republic, Great Britain, Poland, Sweden, Romania, Singapore and France, where are mentioned results of evaluated factors and also the defending of values. The last, fifth, is itself part of the evaluation and comments on results achieved.

This study sought to examine whether the use of tax incentives to boost investment into the SME sector is an effective policy for economic development. More specifically, the study focused on the Section 12J tax incentive of the Income Tax Act of South Africa, which underpins the current venture capital companies' (VCC) regime for this country. This VCC regime is aimed at addressing the challenge of lack of access to finance by SMEs, and it does so by incentivising venture capital investors to provide equity capital to qualifying SMEs. These SMEs are, in turn, expected to grow and help reduce the economic challenges of poverty and unemployment in South Africa. A mixed methods research approach was adopted for this study. It was also inductive in nature, based on primary data collected from a survey of various stakeholders of the VCC regime using a convenience sampling method. The data variables of the study were based on factors relating to the impact that the VCC regime has had on SMEs in terms of financial performance and creation of decent employment. The study concludes that the VCC regime has had a positive impact on the South African SME sector in terms of financial performance and creation of decent employment. As a result, the VCC regime has shown to be an effective tool for addressing various economic challenges, such as: lack of access to finance faced by SMEs, high failure rate of SME businesses, and poverty alleviation through provision of decent employment by SMEs. Thus, the resultant recommendation submitted in the study is that the VCC regime should as such be extended beyond its current sunset date in order to ensure the South African economy continues to enjoy the benefits that the regime has to offer.

The diploma thesis deals with financing problems of young tennis players development to reach the top ranking in professional tennis. On the basis of intimate analysis of tennis enviroment and crucial factors affecting this theme searches for solutions in form of private equity financing and attracting new investors.

This thesis deals with the external financing of venture capital at selected enterprises in the Czech Republic. In the first chapter, theoretical bases of a venture capital will be issued from several perspectives of different authors and the principles, and corporate financing of venture capital will be subsequently explained. This chapter also describes the significance of venture capital as an alternative source of corporate financing in the Czech Republic in the context of European development and the basis for evaluation of the impact of venture capital on individual companies. In the analytical part, selected companies will be presented, and the results of the financial analysis for each year in the periods before, during the cooperation between the investor and the enterprise, and the venture investor withdrawal. Based on the results of the financial analysis and the analysis of the monitored period, economic development of selected enterprises will be compared, and the evaluation of whether a selected form of financing for the company was chosen appropriately or not, will be done. Eventually, possible ways of dealing with problematic situations will be determined.

This dissertation is looking into evaluation of the economical situation and development of the assigned companies which are financed by the high-risk capital. The economical development of the companies is subjected to selected indicators of the financial analysis. The theoretical solution of this dissertation is describing the particular aspects of the financial analysis and the high-risk capital. The analytical section is focusing on the development of the economical situation in the companies using the selected indicators and is proposing a possible improvement of the economical progress of the companies. Conclusion of this thesis is comparing development of the companies’ indicator and is providing its feasible solution.

Risk and return management is one of the core competencies of venture capital companies (VCCs) as they invest in young, innovative firms with a high return potential, but also high risk potential. Due to the liability of smallness, newness and financial constraints young, innovative firms are constantly under the threat of failure. In the scope of this dissertation are four related studies – three empirical studies and one literature review – analyzing the risk and return management of VCCs. In particular, risk assessment and risk management and value adding activities in the post investment phase were examined. In the first article, authors analyze which risks are relevant over the whole venture capital (VC) investment process and show how VCCs assess and documents risks in their deal documents. The second article studies risk management practices of VCCs. We show that the experience and the skills of the corresponding investment manager have a significantly negative impact on the failure risk of a venture. Article three analyzes value creation measures applied by VCCs. The results suggest that VCCs are highly engaged in supporting ventures in financial and human capital issues as well as in establishing strong governance mechanisms. The fourth article also deals with the foregone topic. This paper provides a literature analysis on value adding activity measures in VC investments, synthesizes the variables measuring the main levers of value adding and identifies directions for improvement in terms of data, variables and methods.:1. Introduction 2. The entire research project 3. Risk and return management of venture capital companies in the post-investment phase 3.1 Risk types and risk assessment in venture capital investments: A content analysis of investors´ original documents 3.2 Risk management in the venture capital industry: Managing risk in portfolio companies 3.3. Value adding activities of venture capital companies: A content analysis of investor´s original documents in Germany 3.4 Value adding activities in venture capital literature: A review on data, variables and methods 4. Further research in the venture capital field

This study is within the field of financial innovation and entrepreneurship. The thesis’s primary purpose is to investigate how and why entrepreneurs in Sweden are positioning themselves in regarding Initial Coin Offerings as a new financial vehicle based on the Swedish regulations and the underlying factors to the entrepreneur’s point of view. The literature contributes a limited knowledge of the Swedish industry concerning ICOs, and therefore this research aims to enhance awareness. Through qualitative research based on eleven interviews, we conclude there is a general lack of knowledge and risk-aversion from the absence of regulations in Sweden. Furthermore, all interviewed entrepreneurs were open-minded about an ICO with certain limitations. Considering that, on average, an enticing secondary market has existed for the tokens issued by ICOs, and a remarkable amount of money has been left on the table by project promoters, investors seeking for potential profit have hoarded the cryptocurrency space, creating a situation similar to the dot-com bubble. Thus, we also discuss the benefits, drawbacks, and the possible fate regarding ICOs, a new financing method that should not be overlooked.

Whenever someone starts a company from scratch there is a great chance he or she (the entrepreneur) looks for funding. People who fund entrepreneurs and start-­‐ups are usually venture capitalists or business angels. Whether it is one or the other these people want to invest wisely. However without last year’s report piling up at the reception of this start-­‐up another approach is necessary. This master thesis focuses on how valuation is possible without haveing financial data. The main focus the thesis is to find whitch personal attributes you should look for in a successful future entrepreneur.