FUNDAMENTALS OF CAPITAL MARKET FORMATION AND THEIR FEATURES IN THE CONDITIONS OF TAJIKISTAN

2020 ◽  
Vol 3 (8(77)) ◽  
pp. 40-43
Author(s):  
Dilrabo Ikromalievna Kasimova ◽  
Marhabo Ikromalievna Kоsimova

The article discusses the features of the capital market and the mechanism of its functioning. The institutional features of the formation of the capital market and their features in the context of Tajikistan are presented. The author revealed the main problems of the formation and development of the capital market in the Republic of Tajikistan.

2015 ◽  
Vol 9 (2) ◽  
pp. 181
Author(s):  
Marihot Janpieter Hutajulu

<p><strong>Abstrak</strong><strong></strong></p><p> </p><p>Keberadaan pasar modal di Indonesia dibutuhkan mengingat peranannya yang penting untuk menyokong kondisi perekonomian negara. Namun pasar modal sebagai lembaga yang berasal dari sistem ekonomi liberal-kapitalistik tidak serta merta dapat dengan mudah diadopsi dan diatur tanpa disesuaikan dengan filosofi bangsa Indonesia. Melalui tulisan ini, Penulis hendak menganalisis kesesuaian tujuan pengaturan dan pengembangan pasar modal di Indonesia dengan konsep Negara Kesejahteraan Indonesia pasca Amandemen Undang-Undang Dasar Negara Republik Indonesia Tahun 1945. Analisis tulisan ini menyimpulkan bahwa tujuan pengembangan pasar modal Indonesia adalah mewujudkan masyarakat yang adil dan makmur, namun tujuan pengaturan pasar modal itu sendiri belum sesuai dengan konsep negara kesejahteraan Indonesia serta belum memenuhi harapan konstitusional bangsa ini.</p><p><strong> </strong></p><p><em><strong>Abs</strong><strong>tract</strong></em><strong></strong></p><p>In Indonesia the existence of capital market is needed considering the important role to support the country's economy. But the capital market as an institution derived from the liberal-capitalistic economic system can not necessarily be adopted and arranged without adjustment to the philosophy of the Indonesian nation. Through this article, the author analyzes the suitability of regulation and development of capital markets in Indonesia with the concept of Indonesian welfare state after the amendment to the Constitution of the Republic of Indonesia of 1945. The analysis of this paper draws a conclusion that the purpose of the Indonesian capital market development is to realize a just and prosperous society, but the goal of the capital market regulation itself is not in accordance with the concept of Indonesia as well as the concept of welfare state and thus has not met expectations of the nation's constitutional expectations.</p><p> </p>


2021 ◽  
pp. 123-132
Author(s):  
L. Hovnanyan

Հոդվածում ներկայացվում է ներդրումների հոսքերի շարժընթացի ուսումնասիրությունը և վերլուծությունը Հայաստանի տնտեսության մեջ: Հոդվածում վերլուծվել է նաև կապիտալի շուկայի կառուցվածքը իր մասնակիցներով և գործունեության ցուցանիշներով: / The article presents the study of investment flow trends and analysis in the Armenian economy. The paper also presents the structure of the capital market with its participants and performance indicators.ֈ


2018 ◽  
Vol 56 (1) ◽  
pp. 17-34
Author(s):  
Milica Radović ◽  
Snežana Radukić ◽  
Vladimir Njegomir

Abstract The characteristics of the developing market to which the Serbian market belongs are: illiquidity, low turnover and nontransparency. The aim of this paper is to examine the possibility of application of the Markowitz's model for forming the set of efficient portfolios on the capital market in Serbia. The research is based on previous theoretical and empirical research in the world. Statistical methods of determining return and risk, matrix of variances and covariances for liquid shares have been applied. Portfolio optimization has been conducted by add-in programme Solver included in the Microsoft Excel package, respecting the limitations according to Markowitz's model. The results of the analysis have shown that the set of efficient portfolios, which meets the criterion that they give minimal risk for the given return, can be formed on the capital market in Serbia. The results show that Markowitz's model allows the investors to select the efficient portfolio, but only for liquid shares, depending on the risk they are ready to accept. The findings of this paper indicate that expressive illiquidity on the Serbian market and insufficient number of shares for diversification by sectors make the practical application of the research results difficult.


2017 ◽  
Vol 5 (2) ◽  
pp. 149
Author(s):  
Rosmida Rosmida ◽  
Endang Sri Wahyuni

Abstract: Research entitled The Success of "Yuk Nabung Saham" Program by Indonesia   Stock   Exchange   in   Increasing   the   Sales   of   Capital  Market Instruments In Indonesia is a descriptive study aimed at knowing what exactly is the program Yuk Nabung Saham and how much investment people invest in Indonesia capital market in 2016 with the program Yuk Nabung Saham. Yuk Nabung Saham was launched on 12 November 2016 by the Vice-President of the Republic of Indonesia Mr. Muhammad Jusuf Kalla. Yuk Nabung Saham there is a campaign that invites the people of Indonesia to invest in the capital market through share saving. Currently there are 37 securities companies that have been working with the Indonesia Stock Exchange to join the Yuk Nabung Saham program. Data obtained from Indonesia's Financial Services Authority in 2013 and then compared with data in 2016. From these data recorded the increase in literacy and financial inclusion that initially 3.79% to 4.40% and0.11% to 1.25%. In addition, there is also an increase in the number of activeinvestors of Indonesian society in the Indonesian capital market which was originally 12.88% to 16.29%.


Author(s):  
Zorica Drljača

The regulation of the capital market in the Republika Srpska is based on the objectives and principles of the International Organization of Security Commissions and requirements of European integration. In this regard, an appropriate infrastructures capital markets has been established, there are no administrative barriers for foreign investors, dematerialization of securities is made, electronic way of trade and the centralization of secondary public trade in securities are established.  However, despite all these characteristics, according to the classification FTSE Global Equity Index Series, the capital of the Republika Srpska market still belongs to the frontier markets, representing the developing markets, what actually reflects the state of the entire economic system.


2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.


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