CEU Electronic Theses and Dissertations, 2018
| Author | Simic, Nemanja |
|---|---|
| Title | Following the US Approach on Private Equity Structures in Serbia |
| Summary | Private equity is a concept that encompasses many related disciplines, like business, economy, financing, management, etc. This thesis aims to provide a clear overview of one of its layers – the legal one. Out of several branches of law affected by this concept, the research will focus primarily on structuring, i.e. on the choices of corporate vehicles for business operations and legal consequences that such choices brings with them. In addition, special attention will be paid to tax considerations of such options as they by default heavily affect both the choice of business vehicles and operations of private equity industry in general. The primary reason for making such analysis lies in the fact that up to date scholarly works on legal aspects of private equity in Serbia are essentially descriptive. They do not give the answer as to why private equity industry in the country has not made a substantial progress for more than a decade after its regulation. Nor do they establish a comparative model upon which the industry can look upon. In this research, it is suggested that the US system may serve as such model. For these purposes, it explores the characteristics of the US system and the options it offers. The thesis will conclude that having a choice between several business vehicles and tax treatments is beneficial for the development of private equity industry in a country. Notably, the system needs to provide the possibility for private equity funds and firms to operate as flexible entities that are also fiscally transparent. This conclusion outlines the need for the developing countries to constantly reexamine their approach when it comes to the legal treatment of private equity. Overall, the research shows that civil law systems have many lessons to adopt from the American experience with the regulation of private equity industry. Out of it also comes the recommendation for future scholarly works on alternative models for the development of the industry in Serbia. |
| Supervisor | Lawrence, Jessica |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2018/simic_nemanja.pdf |
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