{"id":6016,"date":"2023-08-18T14:40:16","date_gmt":"2023-08-18T12:40:16","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?p=6016"},"modified":"2023-08-18T14:40:16","modified_gmt":"2023-08-18T12:40:16","slug":"proc-chteji-spolecnosti-jit-na-burzu-a-vydavat-akcie","status":"publish","type":"post","link":"https:\/\/www.forexsrovnavac.cz\/mag\/proc-chteji-spolecnosti-jit-na-burzu-a-vydavat-akcie\/","title":{"rendered":"Pro\u010d cht\u011bj\u00ed spole\u010dnosti j\u00edt na burzu a vyd\u00e1vat akcie?"},"content":{"rendered":"

Obecn\u011b plat\u00ed, \u017ee hlavn\u00edm d\u016fvodem, pro\u010d firmy vyd\u00e1vaj\u00ed akcie, je z\u00edsk\u00e1n\u00ed dal\u0161\u00edho finan\u010dn\u00edho kapit\u00e1lu<\/strong>. Tradi\u010dn\u011b nejd\u016fle\u017eit\u011bj\u0161\u00edm zp\u016fsobem, jak si zv\u00fd\u0161\u00ed sv\u00e9 finan\u010dn\u00ed prost\u0159edky, je prost\u0159ednictv\u00edm trhu s cenn\u00fdmi pap\u00edry. Vyd\u00e1n\u00edm akci\u00ed m\u00e1 firma tak\u00e9 mo\u017enost roz\u0161\u00ed\u0159it sv\u016fj vlastnick\u00fd pod\u00edl<\/strong>. T\u00edmto zp\u016fsobem je mo\u017en\u00e9 sn\u00ed\u017eit riziko spojen\u00e9 s koncentrac\u00ed veden\u00ed firmy v rukou pouze n\u011bkolika jednotlivc\u016f.<\/p>\n

Tato informace n\u00e1m m\u016f\u017ee pomoci l\u00e9pe porozum\u011bt mnoha koncept\u016fm, o kter\u00fdch budeme diskutovat. Prvn\u00edm z t\u011bchto koncept\u016f je pojem „z\u00e1kladn\u00ed kapit\u00e1l“ a jeho vztah k emitov\u00e1n\u00ed akci\u00ed.<\/p>\n

Z\u00e1kladn\u00ed kapit\u00e1l<\/h2>\n

P\u0159edstavme si p\u0159\u00edklad situace, kdy m\u00e1te v \u00famyslu zalo\u017eit mal\u00fd podnik, nap\u0159\u00edklad restauraci. Je z\u0159ejm\u00e9, \u017ee na po\u010d\u00e1tku budou pot\u0159eba ur\u010dit\u00e9 v\u00fddaje, jako je n\u00e1kup vybaven\u00ed kuchyn\u011b, \u017eidl\u00ed a z\u00e1sob potravin. Ve\u0161ker\u00e9 pen\u00edze, kter\u00e9 budou pou\u017eity na tyto n\u00e1kupy, se ozna\u010duj\u00ed jako „kapit\u00e1l“.<\/p>\n

    \n
  • V podstat\u011b ve\u0161ker\u00e1 likvidn\u00ed aktiva podniku, v\u010detn\u011b pen\u011bz pou\u017eit\u00fdch na koupi z\u00e1sob, tvo\u0159\u00ed kapit\u00e1l. Co m\u016f\u017eete ud\u011blat, pokud nem\u00e1te dostatek financ\u00ed?<\/li>\n<\/ul>\n

    Dluh a vlastn\u00ed kapit\u00e1l<\/h2>\n

    Pro vy\u0159e\u0161en\u00ed tohoto probl\u00e9mu m\u00e1 podnik n\u011bkolik mo\u017enost\u00ed. Bu\u010f m\u016f\u017ee prodat akcie reprezentuj\u00edc\u00ed pod\u00edl vlastn\u00edho kapit\u00e1lu spole\u010dnosti, nebo m\u016f\u017ee z\u00edskat finan\u010dn\u00ed prost\u0159edky skrze dluhov\u00e9 financov\u00e1n\u00ed. Kdy\u017e nakoup\u00edte ve\u0161ker\u00e9 vybaven\u00ed pro restauraci, st\u00e1v\u00e1te se vlastn\u00edkem podniku. Vlastn\u00ed kapit\u00e1l jednodu\u0161e ozna\u010duje „pod\u00edl v podniku“.<\/p>\n

    Vlastn\u00ed kapit\u00e1l je obvykle vyj\u00e1d\u0159en pomoc\u00ed akci\u00ed. Proto m\u016f\u017ee b\u00fdt pro financov\u00e1n\u00ed dal\u0161\u00edho vybaven\u00ed restaurace provedeno:<\/p>\n

      \n
    • Vyd\u00e1n\u00ed akci\u00ed, kter\u00e9 zastupuj\u00ed \u010d\u00e1st vlastnick\u00e9ho pod\u00edlu spole\u010dnosti, n\u011bkomu z p\u0159\u00e1tel nebo rodiny, kte\u0159\u00ed by cht\u011bli sd\u00edlet zisky podniku,<\/li>\n
    • Z\u00edsk\u00e1n\u00ed p\u016fj\u010dky od banky nebo v\u011b\u0159itele, za kterou by se pak (v\u011bt\u0161inou) platil \u00farok.<\/li>\n<\/ul>\n

      V\u00fdhody a nev\u00fdhody vyd\u00e1v\u00e1n\u00ed akci\u00ed<\/h2>\n

      Existuje n\u011bkolik pozitivn\u00edch str\u00e1nek, kter\u00e9 firma z\u00edsk\u00e1 vyd\u00e1n\u00edm akci\u00ed nam\u00edsto z\u00edsk\u00e1v\u00e1n\u00ed p\u016fj\u010dek:<\/p>\n

        \n
      1. Mo\u017enost z\u00edskat v\u011bt\u0161\u00ed finan\u010dn\u00ed prost\u0159edky ne\u017e p\u0159i vyu\u017eit\u00ed \u00fav\u011bru.<\/li>\n
      2. Na rozd\u00edl od p\u016fj\u010dek nen\u00ed nutn\u00e9 pravideln\u011b platit \u00faroky v p\u0159\u00edpad\u011b akci\u00ed.<\/li>\n
      3. Firma nemus\u00ed okam\u017eit\u011b splatit celou \u010d\u00e1stku, jakou by musela u \u00fav\u011bru.<\/li>\n<\/ol>\n

        S t\u011bmito v\u00fdhodami jsou spojeny i ur\u010dit\u00e9 nev\u00fdhody:<\/p>\n

          \n
        1. Vlastn\u00edci firmy mus\u00ed sd\u00edlet sv\u016fj majetek a zisky s akcion\u00e1\u0159i.<\/li>\n
        2. Akcion\u00e1\u0159i maj\u00ed odli\u0161n\u00e1 pr\u00e1va, v\u010detn\u011b pr\u00e1va hlasovat, co\u017e m\u016f\u017ee ovlivnit sm\u011b\u0159ov\u00e1n\u00ed firmy.<\/li>\n<\/ol>\n

          Celkov\u011b vzato m\u00e1 v\u011bt\u0161ina firem, kter\u00e9 se rozhodnou vyd\u00e1vat akcie, v\u00edce v\u00fdhod ne\u017e nev\u00fdhod.<\/p>\n

          A co na to akcion\u00e1\u0159?<\/h2>\n

          Nyn\u00ed se zam\u011b\u0159me na perspektivu akcion\u00e1\u0159\u016f, tedy t\u011bch, kte\u0159\u00ed vlastn\u00ed akcie spole\u010dnosti. Maj\u00ed n\u011bkolik v\u00fdhod, kter\u00e9 zahrnuj\u00ed:<\/p>\n

            \n
          1. Mo\u017enost pod\u00edlet se na budouc\u00edch zisc\u00edch.<\/li>\n
          2. P\u0159\u00edpadn\u011b zv\u00fd\u0161en\u00e9 zisky, pokud spole\u010dnost dosahuje \u00fasp\u011bchu.<\/li>\n
          3. Z\u00edsk\u00e1n\u00ed hlasovac\u00edch pr\u00e1v.<\/li>\n
          4. Mo\u017enost p\u0159\u00edjmu dividend.<\/li>\n<\/ol>\n

            Akcion\u00e1\u0159i t\u011b\u017e\u00ed ze spole\u010dnosti, kter\u00e1 dosahuje \u00fasp\u011bchu, proto\u017ee v takov\u00e9m p\u0159\u00edpad\u011b roste cena akci\u00ed. To znamen\u00e1, \u017ee akcion\u00e1\u0159i vyd\u011bl\u00e1vaj\u00ed na rozd\u00edlu mezi cenou, za kterou nakoupili akcie, a novou cenou. Pr\u00e1v\u011b tento rozd\u00edl je hlavn\u00edm motivem, pro\u010d lid\u00e9 investuj\u00ed do akci\u00ed.<\/p>\n","protected":false},"excerpt":{"rendered":"

            Obecn\u011b plat\u00ed, \u017ee hlavn\u00edm d\u016fvodem, pro\u010d firmy vyd\u00e1vaj\u00ed akcie, je z\u00edsk\u00e1n\u00ed dal\u0161\u00edho finan\u010dn\u00edho kapit\u00e1lu. Tradi\u010dn\u011b nejd\u016fle\u017eit\u011bj\u0161\u00edm zp\u016fsobem, jak si zv\u00fd\u0161\u00ed sv\u00e9 finan\u010dn\u00ed prost\u0159edky, je prost\u0159ednictv\u00edm trhu s cenn\u00fdmi pap\u00edry. Vyd\u00e1n\u00edm akci\u00ed m\u00e1 firma tak\u00e9 mo\u017enost roz\u0161\u00ed\u0159it sv\u016fj vlastnick\u00fd pod\u00edl. T\u00edmto zp\u016fsobem je mo\u017en\u00e9 sn\u00ed\u017eit riziko spojen\u00e9 s koncentrac\u00ed veden\u00ed firmy v rukou pouze n\u011bkolika jednotlivc\u016f. […]<\/p>\n","protected":false},"author":1,"featured_media":6017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[194],"tags":[],"class_list":["post-6016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akcie"],"modified_by":"Krpensk\u00fd Martin","_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/6016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=6016"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/6016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/6017"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=6016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/categories?post=6016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/tags?post=6016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}