ODREDNICE PRIVATE EQUITY ULAGANJA U ODABRANIM EUROPSKIM DRŽAVAMA : Diplomski rad

Private equity je oblik vlasničkog ulaganja u poduzeće koja ne kotira na tržištu kapitala, tj. burzi, a rizični kapital je podvrsta i jedna od strategija private equity-a prisutna kod financiranja startup-ova i poduzeća u ranoj fazi svog životnog ciklusa. Među ostalim najčešće korištenim strategijama private equity-a su preuzimanje s polugom, mezanin financiranje, rastući kapital i strategija ulaganja u poduzeća u poteškoćama. Empirijskom analizom razmatra se utjecaj odrednica na private equity ulaganja u Poljskoj, Češkoj i Hrvatskoj u razdoblju od 2009. do 2019. godine. Ekonomske odrednice čine: gospodarska aktivnost, inflacija, kamatne stope, nezaposlenost i tržišna kapitalizacije, dok neekonomske čine: korupcija i ekonomske slobode. Na temelju provedene višestruke linearne regresijske analize može se zaključiti da kamatna stopa, nezaposlenost i indeks korupcije utječu na private equity ulaganja u Poljskoj, dok rast BDP-a, inflacija, korupcija i ekonomske slobode utječu na private equity ulaganja Češkoj, a samo rast BDP-a utječe na private equity ulaganja u Hrvatskoj.Private equity is a form of equity investment in a company that is not listed on the capital market, i.e. the stock exchange. Venture capital is one of the private equity strategies used financing startups and early stage companies. Other commonly used private equity strategies include leveraged buyout, mezzanine financing, growth capital and turnaround. The thesis analyses the impact of determinants on private equity investments in Poland, Czech Republic and Croatia in the period from 2009 to 2019. Economic determinants include: economic activity, inflation, interest rates, unemployment and market capitalization, while non-economic determinants include: corruption and economic freedom. Multiple linear regression analysis showed that the interest rate, unemployment and corruption index affect private equity investments in Poland, while GDP growth, inflation, corruption and economic freedoms affect private equity investments in the Czech Republic, and only GDP growth affects private equity investments in Croatia