| Abstract [eng] |
Lithuania has an established active market economy, however, economy environment in Lithuania still has some particular drawbacks, therefore, more beneficial circumstances to develop business and innovations and to stimulate entrepreneurship should be created. General business climate, which would allow initiation of business and further expansion of enterprises, should be improved. Companies, established in Lithuania, seldom receive attention from the risk capital funds; therefore, they confront with financing problems. In comparison with other Europe countries, Lithuania has turned its attention to this problem quite recently. Possibility for the state, collectively with private capital, to invest in private capital subjects would help to attract supplementary private capital to initiated and developed business, where private investors alone are not liable to invest in. The object of research– risk capital. The aim of this work – to analyze and assess risk capital influence on the structure of company capital and financial indicators. To achieve the aim, in order to determine its connection with capital profitability, financial risk and company value, capital structure is analyzed. In order to identify its importance in economy, conception of risk capital funds and peculiarities of activity are analyzed. Opportunities to finance from risk capital funds in Lithuania are analyzed as well. In order to assess influence on capital structure, financial indicators of the company and compare risk capital to other sources of financing, private limited company “Mobiringas” financing from risk capital funds is analyzed. Observing the results of research, it is possible to state that the risk capital is one of the most expensive sources of financing; however, it allows reaching high personal capital profitability. Differently from the loaned, risk capital does not have tax-free interest advantage, what, on its own behalf, does not allow to use larger financial leverage effect. In case of not having a possibility to obtain cheaper loaned capital, risk capital funds is a great opportunity to develop business. Despite high risk capital price, it is one of the best financing alternatives, which remains even if the company does not have high profitability indicators; it is sufficient to have high potential. Risk capital funds is a great possibility to implement new, sometimes even extremely risky, ideas. The following MBA consists of 73 pages and contains 13 tables and 20 pictures, 52 sources of literature are used. |
