Methodological Approaches to Assessing of the Regional Stock Market Development

Vestnik NSUEM ◽  
2022 ◽  
pp. 104-120
Author(s):  
A. M. Vyzhitovich ◽  
N. V. Anokhin ◽  
T. A. Popova ◽  
V. S. Dreiling
Keyword(s):  
Stock Market ◽  
Federal District ◽  
Securities Market ◽  
Securities Markets ◽  
Investment Activity ◽  
Stock Market Development ◽  
Tax Incentive ◽  
Regional Product ◽  
Tax Reporting ◽  
Legal Entities

The paper shows the influence of activity of regional corporations at stock market on the development of regional economy in general. Various scientific approaches to the assessment of the influence of financial markets on overall economic situation were considered in the course of the research. The need for detailed study of functioning of regional securities markets, as well as detailed study of their peculiarities and courses of development was revealed. The methods of analysis of regional results of activities of legal entities at securities market were developed on the basis of tax reporting of issuers and assessment of investment attractiveness of regions. The following tasks were solved: study of the normative base regarding dealings of legal entities at stock market, analysis of investment attractiveness of regions, analysis of indicators of statistical tax reporting, development of the methods of assessment of business activity of organizations at stock market, carrying out the assessment of correlation dependence of the indicators of investment attractiveness of regions and statistical tax reporting with gross regional product of the Siberian Federal District entities. Following the assessment results a conclusion of the dependence of economic development of the region with its investment potential and dynamics of corporate investment activity in the respective territory was drawn. Tax incentive of investment activity of regional companies was marked as significant direction of state policy at securities market.

scholarly journals Evolution of Professional Participants in Russian Securities Market

2019 ◽  
Vol 29 (3) ◽  
pp. 416-424
Author(s):  
Irina Alekseeva ◽  
Ksenia Ovchinnikova
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Public Involvement ◽  
Scientific Literature ◽  
Regulatory Framework ◽  
Securities Market ◽  
Sharp Decline ◽  
Investment Activity ◽  
Market Participants ◽  
Domestic Stock

The securities market is one of the most important segments of the financial market of any state. The development of the Russian securities market can be judged on the basis of the development of its participants, their evolution. An analysis of today’s economic scientific literature shows an insufficient coverage of the evolution of professional participants in the domestic stock market. The article considers the changes in the composition of professional participants of the securities market, analyzes the regulatory framework that have given rise to these changes. It brings forth the reasons for the changes and expectations of financial market participants from the changes, presents the dynamics of the number of over the period of 2008–2018. The article reveals a sharp decline in the number of professional participants, determines the causes of this trend. It places an emphasis on the significance of including the investment advisors in the ranks of professional participants of the securities market in order to increase public involvement in the investment activity.

Challenges to Kazakhstan's stock market amid global turbulence

2020 ◽  
Vol 26 (12) ◽  
pp. 2658-2677
Author(s):  
K.K. Nurasheva ◽  
S.A. Filin ◽  
D.A. Kulanova
Keyword(s):  
Stock Market ◽  
Banking Sector ◽  
Current Problem ◽  
Southern Region ◽  
Securities Market ◽  
Municipal Bonds ◽  
Effective Solution ◽  
Investment Activity ◽  
Investment Opportunities ◽  
Economic Analyses

Subject. This article discusses the current problem of the formation and stabilization of the regional stock market in Kazakhstan in the conditions of reduced lending by banks to the real sector of the economy and the reduction of investment opportunities of pension funds. Objectives. Based on an analysis of the state of the securities market, the article aims to make proposals and recommendations on the organization of issuance and circulation of municipal bonds in the southern region of Kazakhstan and an effective solution to the problem of the regional stock market of Kazakhstan. Methods. For the study, we used the methods of systems, statistical, and technical and economic analyses, and grouping. Results. Based on the analysis of the current situation of the banking sector, the article shows statistics of the securities market of Kazakhstan, problems and difficulties. It provides certain recommendations for the development of the stock market in the southern region of Kazakhstan. Conclusions. The article concludes that the economic mechanism of the region's economy has not been developed properly, the investment activity of banks is insufficient, and the regional stock market is in its infancy.

scholarly journals Developing a New Stock Index for Vietnam’s Securities Market

2014 ◽  
Vol 220 ◽  
pp. 60-78
Author(s):  
Huân Nguyễn Hữu
Keyword(s):  
Stock Market ◽  
Predictive Power ◽  
Securities Market ◽  
Stock Index ◽  
Stock Exchanges ◽  
Securities Markets ◽  
Stock Market Index ◽  
Market Index ◽  
Market Indexes ◽  
Research Show

Stock market index plays an important role as a measure of development of securities markets of a country or a region. Results of this empirical research show that in its 13 years of development, Vietnamese securities market indexes only had limited values because of their poor market representation and predictive power, implying the need to merge Hà Nội and HCMC stock exchanges. The research suggests a new set of stock market indexes to deal with shortcomings of existing indexes, thereby providing relevant entities with a new view on development of securities market in Vietnam.

Urgent Problems of the Russian Stock Market Development

2003 ◽  
pp. 26-43
Author(s):  
Yu. Sizov
Keyword(s):  
Stock Market ◽  
Market Economy ◽  
State Regulation ◽  
Market Mechanism ◽  
Securities Market ◽  
Market Development ◽  
Stock Market Development ◽  
Phases Of Development ◽  
Basic Functions ◽  
Russian Stock Market

The article reviews the importance of a stock market as one of the key institutions of the advanced market economy. The author argues that the country will not be able to proceed to more mature phases of development until its securities market can perform its basic functions. Convincing arguments are put forward against the established views on the impossibility to overcome disadvantages of the market mechanism in today's Russia. The author substantiates recommendations for promoting investment orientation of the stock market and frames a new concept of its state regulation.

Tax incentives of China’s investments in Zabaykalsky Krai: implementation of behavioral economic models

2020 ◽  
pp. 69-84
Author(s):  
Evgeniya Mikhailovna Popova ◽  
Irina Vitalevna Mezentseva
Keyword(s):  
Behavioral Economics ◽  
Tax Incentives ◽  
Human Mind ◽  
Investment Climate ◽  
Investment Activity ◽  
Investment Projects ◽  
Tax Incentive ◽  
Regional Budget ◽  
Subjective Aspect ◽  
Investment Process

Currently, the Russian regions apply a vast array of tools for regulating the investment process, including tax incentives. Active use of tax preferences is dictated by the fact that in the conditions of regional budget deficit, tax incentives, unlike subsidies, do not require direct budget expenditures for stimulating investment activity. However, the world experience demonstrates that tax incentives do not fall under the group of factors that strongly affect investment decisions. For determining the degree of preference of tax incentives in relation to other measures of regional support, a survey was carried among Chinese investors, who implement investment projects on the territory of Zabaykalsky Krai. The survey was based on a method of hierarchical analysis based on the special matrices by filed in by the investors. The acquired results displayed that out of ten measures of state support, tax incentives hold the eighth place. The calculated coefficient of the significance of tax incentives testifies to the low attractiveness of fiscal stimuli for the Chinese investors. The authora attempted to find the reasons for tax incentive not being in demand. The scientific novelty of this work consists in conducting the analysis of regional legislation that regulates the order of granting investment tax incentives based on the concept of behavioral economics. In the course of application of the provisions of behavioral economics, emphasis was made on the subjective aspect of the mechanism of preferential taxation. The reasonableness of considering such peculiarities of human mind as cognitive inertia and relativity is substantiated with regards to arranging the structure of tax incentives that would allow increasing the importance of tax incentives in formation of investment climate on the territory of Zabaykalsky Krai. The authors make recommendations on increasing the attractiveness of tax incentives among Chinese investors based on the concept of reference point and the effect of loss aversion.

FUNCTIONING OF THE EXCHANGE MARKET UNDER THE INFLUENCE OF THE DIGITALIZATION OF THE ECONOMY

2020 ◽  
Vol 2 (11) ◽  
pp. 96-101
Author(s):  
B. А. DEMILKHANOVA ◽  
Keyword(s):  
Stock Market ◽  
Financial Stability ◽  
Technological Development ◽  
Digital Technologies ◽  
Securities Market ◽  
Exchange Market ◽  
Large Circle ◽  
Secondary Markets ◽  
Leading Role ◽  
International Stock Markets

In the article, from the standpoint of reasons and necessity, the qualitative and quantitative characteristics of the key trends in the development of the stock market in Russia are disclosed. The leading role is assigned to the processes of computerization of the exchange market: the introduction and use of digital technologies that ensure the financial stability of the financial market as a whole, its security and transparency, as well as access of a large circle of investors to banking and financial operations, and the protection of their interests. It has been established that the processes of introducing and using digital technologies, organically built into the mechanism of the functioning of the securities market as a whole, determine the directions of development of such trends as innovations, diversification of stock market instruments, securitization, integration with international stock markets, etc. key trends influenced by the technological development of the stock market, lead to blurring the boundaries between the primary and secondary markets.

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