scholarly journals Main trends in the development of the Kazakh securities market

2021 ◽  
Vol 84 (4) ◽  
pp. 35-45
Author(s):  
Z.A. Arynova ◽  
Keyword(s):  
Stock Market ◽  
Main Tool ◽  
The State ◽  
Bank Loans ◽  
Securities Market ◽  
World Community ◽  
Theoretical Approaches ◽  
Current State ◽  
Domestic Capital

The securities market is the most important instrument for financing and developing the economy of any state, including Kazakhstan. The main problem is to attract investments for enterprises in all sectors of the economy, as well as to ensure that enterprises have access to cheaper equity than bank loans. Purpose to identify the main trends in the development of the domestic securities market, to assess the level of its profitability. The article emphasizes the role of the securities market as the most important mechanism for the redistribution of funds between sectors of the economy. The securities market, as an integral part of the financial market, is gaining especially growing importance in the economy of Kazakhstan, as well as in the economy of the entire world community. When writing the article, traditional methods (comparison, description, and measurement), general logical methods and research techniques (analysis, generalization, etc.) were used. The article discusses the main theoretical approaches to determining the essence of the analyzed concept, attempts are made to formulate the main problems in the securities market, presents the results of the analysis of data characterizing the current state of the stock market of Kazakhstan. In essence, the securities market is a macroeconomic regulator of the state, through which opportunities are created to attract foreign and domestic capital. Thus, the securities market as an effective tool for attracting capital contributes to solving socio-economic problems. The author notes that the main theories about the state of the stock market are characterized by a superficial approach, as evidenced by the fact that none of them considers the internal structure of the stock market, which is the main tool for determining the patterns of changes in the value of financial instruments. It should also be noted that the choice of theory depends entirely on the perception and opinion of the relevant analyst. Singling out one theory as the only and most acceptable one would be wrong.

THE ROLE OF COMMERCIAL BANKS IN THE SECURITIES MARKET AND THE CURRENT STATE OF THE STATE SECURITIES MARKET IN KYRGYZSTAN

2020 ◽  
Vol 20 (1) ◽  
pp. 204-211
Author(s):  
Gulasel Shamshieva ◽  
Keyword(s):  
Commercial Banks ◽  
Legal Regulation ◽  
The State ◽  
Securities Market ◽  
Kyrgyz Republic ◽  
Current State ◽  
The Government

This article gives a classification of securities. The investment activities and operations with securities of commercial banks, as well as the legal regulation of the activities of commercial banks in the securities market in Kyrgyzstan are examined. A review of the current state of the securities market in the Kyrgyz Republic is carried out. Volumes of debt securities are also presented. The volume of annual issue of securities for 3 years from 2017 to 2019, the volume of foreign investment in corporate securities is shown. During the review of the state of the securities market, it was concluded that commercial banks play a major role in the development of the securities market, acting as issuers, investors and intermediaries. A program for the development of the government securities market for both the medium and long term is proposed.

STOCK MARKET IN A PANDEMIC, TRENDS IN ITS DEVELOPMENT AND IMPACT ON THE ECONOMIC ENVIRONMENT OF STATES

2021 ◽  
pp. 60-73
Author(s):  
Vladimir M. Gribanich ◽  
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Cash Flows ◽  
The State ◽  
Securities Market ◽  
Source Data ◽  
The Impact ◽  
Graphical Presentation ◽  
Official Information ◽  
Systematic Collection

The article is devoted to the analysis of the development of the stock market, its stages of development and the impact on the economic conjuncture of countries. The relevance of studies on the development of the stock market in modern realities is growing every day, the number of transactions also grows steadily despite the pandemic, and that forms huge cash flows. The purpose of the study carried out in the article is not only to identify the influence of the stock market on the development of countries in modern conditions, but also to conduct a statistical analysis of data reflecting the state of the main stock exchange indices in a pandemic, as well as to assess the state of the securities market in 2019 and 2020 and work out forecasts for its future development. Several methods were used in the work: analysis of official information sources, statistical observation (systematic collection of information), grouping of the source data, their graphical presentation, as well as building diagrams.

scholarly journals CHARACTERISTICS AND CHALENGES OF BANK LANDING OF SMALL AND MEDIUM BUSINESSES IN RUSSIA

2017 ◽  
pp. 107-114
Author(s):  
Elena Nicolaevna Derbeneva
Keyword(s):  
High Growth ◽  
Bank Lending ◽  
Bank Loans ◽  
Market Segment ◽  
Current State ◽  
Business Entities ◽  
Medium Businesses ◽  
The Cost ◽  
Credit Portfolio

The article defines the role of Bank lending in the development of small and medium businesses. These businesses do not require a large amount of upfront investment; they provide a fast turnover of resources and high growth rates. Such kind of business allows innovating and solving important problems related to the unemployment and the restructuring of the economy. Bank loans and financial subsidies from the state have become the most popular sources of financing for these business entities. The article gives the analysis and assessment of the current state of Bank lending of small and medium businesses in Russia. The benefits of lending in this market segment for commercial banks are obvious. It is a highly profitable type of business that gives a possibility of diversifying the credit portfolio. The article reveals the basic problems of Bank lending in small and medium businesses and the reasons of their emergence. The main problems of decreasing demand at the market are the cost of borrowed funds and the need for collateral. The article presents further landing objectives. Banks need to implement approaches providing a combination of techniques appropriate to both corporate and retail customers, for creation a unified system of quick services for small and medium businesses.

scholarly journals The Securities Market in Ukraine: Theoretical Aspects of Historic Development

2019 ◽  
pp. 120-130
Author(s):  
S. S. ZALIUBOVSKA ◽  
Yu. B. KOLUPAYEV ◽  
К. R. TOKАREVA
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Computer Software ◽  
Securities Market ◽  
Information Support ◽  
Market Development ◽  
Second Phase ◽  
Investment Funds ◽  
Theoretical Approaches ◽  
Business Entities

The article sums up a review of theoretical approaches to the interpretation of economic categories “securities market” and “stock market” and a chronological analysis of the stock market development in independent Ukraine. It is shown that two general approaches to the interpretation of the above categories exist, legislative and scientific. The latter one can, in turn, be subdivided into narrower approaches: segment approach, with securities market treated as a part of the capital market or financial market; functional approach, with securities market seen as a floor for sales and purchase of securities; normative approach, with securities market addressed as a sophisticated mechanism used to set legal and economic relations between business entities; logical approach, with securities market considered as a set of transaction mechanisms. The authors’ definition of the securities market is proposed: a segment of the financial market, on which interactions between various market actors take place, related with issuance, purchase and sales of securities that have value, circulate freely and certify the relations of co-ownership or lending, with the purpose of effective distribution and rational allocation of financial resources in the socio-economic area of a country with due account for the society’s interests and needs. The authors’ chronology of the securities market development in Ukraine is proposed, in which six phases are distinguished. The first phase is “reappearance” (1990). The second phase is “formation” (1991–1994), falling upon radical market-driven transformation in the Ukrainian economy. The third phase is “development” (1995–1999): search of the effective owners on the boosting market, setting up a system for control over sales and purchase of securities, creation of investment funds, financial and industrial companies and private pension funds. The fourth phase is “improvement” (2000–2002): creating a system for information support for circulation of securities issued in non-documentary form, and computer software for operating the State registers. The fifth phase is “recovery” (2003–2006): gradual decline of crisis tendencies in the economy along with the recover at the securities market.  The sixth phase is “financial globalization” (from 2007 and on). This approach enables to investigate the securities market dynamics over 1991–2018 and give detailed descriptions of each phase with emphasis on core historic event in each. 

scholarly journals DIPLOMACY OF THE KURDISTAN REGION OF IRAQ IN THE AGE OF TERRORISM

2019 ◽  
Vol 21 (1) ◽  
pp. 43-55
Author(s):  
Jalal Hussein Dalsooz
Keyword(s):  
Research Paper ◽  
The State ◽  
Kurdistan Region ◽  
World Community ◽  
Suggestive Evidence ◽  
The World ◽  
State Actor ◽  
State Actors

In this paper, we empirically study the effects of terrorism on the para-diplomacy of Kurdistan Region of Iraq during the last two decades. The research paper analyses the form of diplomacy, in the current age, has covered new style, in particular, when the new actors (non-state actors) are playing significant roles. In this regard, the Kurdistan region government as non-state actor has successfully used terrorism as a great instrument to attract the attention of the world community and created broad its paradiplomatic relations with actors around the world. In turn, we find suggestive evidence that the Kurdistan Region Government should further enhance the ability of its foundations to sustain its relations with world community. Our findings are consistent with the idea that the threat of terrorism is never going to be end, thereby it is not easy for the state-actors to keep their eyes away from the role of any world actors (including non-state actors).

scholarly journals The Role of State in the Sphere of Innovative Development of the Agricultural Complex of Ukraine1

2014 ◽  
Vol 7 (27) ◽  
pp. 334-347 ◽  
Author(s):  
Lujza Jurkovičová ◽  
Natalya Kubiniy ◽  
Viktoria V. Hotra
Keyword(s):  
Agricultural Development ◽  
The State ◽  
Innovative Activity ◽  
Innovative Development ◽  
Agricultural Enterprises ◽  
Current State ◽  
Role Of The State

Abstract The article examines the current state of innovative agricultural development in Ukraine and determines the role of the state in the sphere of innovative development of the agricultural complex. It considers the most problematic characteristics and factors of the slowdown of innovative development of domestic agricultural enterprises. It also suggests measures that would promote the increase of innovative activity of agricultural enterprises.

scholarly journals EXCHANGE INDICES AS ACTIVITY INDICATORS STEEL MARKET

2018 ◽  
Vol Vol 17 (Vol 17, No 1 (2018)) ◽  
pp. 100-115
Author(s):  
Tatyana Sitash
Keyword(s):  
Stock Market ◽  
Investment Strategy ◽  
The State ◽  
Securities Market ◽  
Stock Index ◽  
Foreign Markets ◽  
Market Participants ◽  
Steel Market ◽  
Market Infrastructure ◽  
Fully Functioning

The stock indices are investigated as indicators of stock market activity. It is proved that the stock market is one of the most attractive instruments for investing. It is accepted that an open stock market in a country characterized by a stable, strong economy, encourages the attraction of foreign investors. It is noted that indicators of the Ukrainian stock market such as the capitalization and the PFTS stock index (First Stock Trading System), as a result of the inadequate exchange rate prices for the real state of the issuing companies and the economy of the state, can’t be as representative, especially when compared with foreign markets. It has been outlined that the development of the domestic stock market is restrained by the imperfection of legislative and regulatory regulation of the market participants, the lack of optimality of the market infrastructure, the lack of a fully functioning, fully functioning national depository system. The introduction of a new stock index describing the state of business activity of a separate sector of the market is proposed, which will serve as a benchmark for the formation and optimization of investment strategy of investors, will promote transparency of the Ukrainian securities market.

scholarly journals Spanish libraries in COVID-19 pandemic period

2020 ◽  
pp. 90-93
Author(s):  
E. V. Pshenichnaya
Keyword(s):  
Work Experience ◽  
Main Tool ◽  
International Federation ◽  
The State ◽  
Information Resources ◽  
Service Work ◽  
Fake News ◽  
Ministry Of Health ◽  
The World

This article discusses the effective operations of Spanish libraries in association with the Spanish Federation of Societies of Archivist, Librarians, Documentarists and Museologists (FESABID) and the information resources, provided by the International Federation of Library Associations (IFLA) to support libraries around the world during the pandemic. The author highlights the role of Spanish librarians in their struggle with fake news, which constitute a menace for Spanish citizens’ life and safety. The article evaluates the “eBiblio” online loan service’ work experience, launched by the Ministry of Culture and Sports of Spain in collaboration with Spanish libraries in 2002. The article considers the information specialists’ experience in the development of the State Protocol of the Ministry of Health in Spain regarding the libraries reopening after the pandemic. The article considers the IFLA Library Map of the World as the main tool for getting reliable library statistics in pandemic. The author attempts to comprehend the role of a library as an institution of culture in the post-pandemic era.

scholarly journals Exploring the Role of Merchant Banker as Capital Market Intermediary: With Special Reference to Role Played Under Stock Market

2020 ◽  
Vol 4 (10) ◽  
pp. 161-167
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Security Market ◽  
Issue Management ◽  
Public Issue ◽  
Indian Economy ◽  
Domestic Capital ◽  
Public Offering ◽  
A Company

For smooth and effective governance of corporate organizations and to achieve a sustainable development in the corporate fraternity, organizations require finance both for financing the fixed capital as well as for working capital. Finance is such an important aspect of business that enterprises cannot sustain without its interference and as such right from its incorporation till it’s winding up finance occupies a pivotal position. It is not only for the small and big enterprises which requires finance but also the entire economic structure of the country keeps reliance on it. As corporate sector contributes towards Indian economy about 53 % of Gross Domestic Product, the role of security market under the cloak of Security Exchange Board of India plays an important role in contributing to the Indian Economy. Security market also known as the stock market is a platform where a company can raise its fund or share-capital through the means of various kinds of marketable and financial instruments carrying voting rights, interest and payment of dividend both at domestic and international level. For a sustainable corporate governance, a compliance framework has to be established which will help and support the risk management system during identifying the sources of corporate funding and the pools of fund both from domestic capital market and international markets. Corporates should first create an established framework which will help them to evaluate and assess their financial requirement to the extent of managing funds from various sources. It is true that a company issues securities to the investors through the mechanism of initial public offering and further public offering in primary market and in furtherance such securities are additionally traded in secondary market through the platform of recognized stock exchange which makes it crystal clear that there is no direct congruence or connection between the issuer company and the security holders. In this gap the role played by the intermediaries are pertinent for the operations relating to issuance and trading of securities and as such merchant banker is one of the key intermediary in capital market appointed by the issuer company for public issue management. The paper will focus on the role played by the merchant banker in primary market. It will also attempt to define how the merchant banker functions with due regard to public issue management, credit rating of shares and how it complies with the changing laws and regulations for an effective management of corporate transactions.

Western Asia

2020 ◽  
pp. 513-539
Author(s):  
Carolyn Routledge
Keyword(s):  
Case Studies ◽  
Ancient Egypt ◽  
The State ◽  
Academic Disciplines ◽  
Theoretical Approaches ◽  
Western Asia ◽  
Wide Range ◽  
History Of ◽  
Selection Of

Since Flinders Petrie, the importance of Western Asia to the history and development of culture in ancient Egypt has been recognized by scholars and has also been a significant driver in shaping Egyptological methodology and theoretical approaches. The study of relations between Western Asia and Egypt encompasses a wide range of specialisms given the broad range of evidence, the geographical breadth, and the academic disciplines involved. This chapter reviews the history of the study of relations between Western Asia and Egypt pointing to a selection of challenges scholars face in undertaking their research, and examines two case studies: theories concerning the role of Western Asia in the rise of the state, and the assessment of Egypt’s New Kingdom Empire in Canaan to illustrate the ways in which scholarly challenges are met and the resulting historical conclusions.

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