scholarly journals Утицај рачуноводствених информација на одабир акција на тржишту капитала у Босни и Херцеговини // The impact of accounting information on share selection in the capital market in Bosnia and Herzegovina

2012 ◽  
Vol 10 (16) ◽  
pp. 247
Author(s):  
Миро Џакула
Keyword(s):  
Bosnia And Herzegovina ◽  
Capital Market ◽  
Accounting Information ◽  
Realistic Assessment ◽  
The Impact ◽  
A Share ◽  
The Capital Market

Резиме: Кључно питање које занима све инвеститоре, и велике и мале, јест како реално процијенити вриједности акција неког предузећа, те на темељу којих параметара одлучити треба ли продати или купити одређене акције. Међутим, нема поузданог начина да се тачно одреди потенцијална вриједност неке акције. Но, без обзира на то, уз помоћ неколико метода инвеститори прије улагања новца у било које предузеће математички покушавају израчунати колико је нека акција подцијењена или прецијењена.Summary: The key issue being of interest to all investors, both big and small ones, is how to make a realistic assessment of the value of some company’s shares and which parameters should be taken into account when making a decision whether to sell or buy certain shares. However, there is no reliable way of determining accurately the value of a share. Nevertheless, prior to investing money in any company, the investors can try, by applying some methods, to mathematically calculate whether the share concerned is undervalued or overvalued.

scholarly journals The Innovation of Government Bonds in the Growth of an Emergent Capital Market

2021 ◽  
Vol 7 (1) ◽  
pp. 103
Author(s):  
Cordelia Onyinyechi Omodero ◽  
Philip Olasupo Alege
Keyword(s):  
Capital Market ◽  
Research Work ◽  
Government Bonds ◽  
Market Capitalization ◽  
Market Growth ◽  
Explanatory Variables ◽  
The Government ◽  
The Impact ◽  
Total Market ◽  
The Capital Market

The growth of an emerging capital market is necessary and requires all available resources and inputs from various sources to realize this objective. Several debates on government bonds’ contribution to Nigeria’s capital market developmental growth have ensued but have not triggered comprehensive studies in this area. The present research work seeks to close the breach by probing the impact of government bonds on developing the capital market in Nigeria from 2003–2019. We employ total market capitalization as the response variable to proxy the capital market, while various government bonds serve as the independent variables. The inflation rate moderates the predictor components. The research uses multiple regression technique to assess the explanatory variables’ impact on the total market capitalization. At the same time, diagnostic tests help guarantee the normality of the regression model’s data distribution and appropriateness. The findings reveal that the Federal Government of Nigeria’s (FGN) bond is statistically significant and positive in influencing Nigeria’s capital market growth. The other predictor variables are not found significant in this study. The study suggests that the Government should improve on the government bonds’ coupon, while still upholding the none default norm in paying interest and refunding principal to investors when due.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 35-42
Author(s):  
Nigel Pain
Keyword(s):  
Capital Market ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Domestic Demand ◽  
The World ◽  
Asian Economies ◽  
Trade Growth ◽  
The Impact ◽  
The Capital Market

Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the aftermath of the capital market turmoil last year, although the timing and magnitude of the impact was difficult to predict. Domestic demand in the affected Asian economies has proved much weaker than expected, with the effects magnified by a continued downturn in Japan. GDP fell by 5¾ per cent in Korea in the first quarter of this year and by 1¼ per cent in Japan. The aggregate volume of merchandise imports in Asia is expected to decline by around 5½ per cent this year, with falls of up to 25 per cent in countries such as Korea, Thailand and Indonesia. This largely accounts for our projected decline in world trade growth to under 6 per cent this year from an estimated 9¾ per cent in 1997.

Growth of Capital Market in Nepal: Impact on Capitalization, GDP and NEPSE Index

2020 ◽  
Vol 11 ◽  
pp. 66-83
Author(s):  
Dhan Raj Chalise
Keyword(s):  
Capital Market ◽  
Significant Contribution ◽  
Positive Impact ◽  
Stock Exchange ◽  
Secondary Data ◽  
Secondary Market ◽  
Financial Resources ◽  
Descriptive Research ◽  
The Impact ◽  
The Capital Market

The capital market plays an importance role in an economy and provides the opportunity to the investor for the mobilization and channelization of funds. Nepalese capital market is in growing and improving phase. The objective of this study is to analyze the evaluation of the existing status of the capital market in term of its composition of types of the capital market and to examine the impact of capital mobilization in Gross Domestic Product (GDP) and to examine the contribution of capital market in financial resources and GDP. Besides, the study examines the share transaction in Nepal Stock Exchange (NEPSE) and its impact on NEPSE Index. The study period of 2000/01 to 2018/19 has been used for study purposes. Through the use of descriptive research design, the trends of capital market development track after 2000/01 to present status has been presented. Secondary data are analyzed through the use of regression and other descriptive statists to convert the information into data. The result indicates that the ordinary shares in the primary capital market and market capitalization in the secondary market has significant contribution for the capital market in Nepal. Also, the study reveals that there is a significant and positive impact of capital mobilization on GDP and the number of share transactions on the NEPSE Index in the Nepalese capital market. Hence there is a significant contribution of the capital market for financial resources mobilization and GDP of Nepal. The study reports for modernization and systematization of the capital market need more optimal efforts from concerned stakeholders.

Virtual Enterprises' Accounting Difficulties

2011 ◽  
pp. 1185-1190
Author(s):  
Panayiotis Tahinakis ◽  
John Muylonakis ◽  
Nicolaos Protogeros ◽  
Dimitrios Ginoglou
Keyword(s):  
Capital Market ◽  
Virtual Enterprise ◽  
Accounting Information ◽  
Financial Information ◽  
Virtual Enterprises ◽  
Foreign Markets ◽  
Cultural Aspects ◽  
Accounting Recognition ◽  
The Capital Market

The growth and expansion of enterprises into foreign markets presuppose the aggregation of financial information that includes non homogeneous elements. The purpose of this article is to present several accounting difficulties deriving from the establishment of virtual enterprises and consequently, to set some relevant management and cultural aspects. Emphasis is, also, given to the analysis of the accounting recognition and measurement difficulties deriving from recording accounting information in a virtual enterprise. In conclusion, although there are accounting, as well as, auditing problems of defined, measured and disclosed in a such a type of business, its importance will increase as the capital market grows.

scholarly journals Beta Coefficient Analysis on the Capital Market of Bosnia and Herzegovina

2009 ◽  
Vol 22 (4) ◽  
pp. 30-39 ◽  
Author(s):  
Sejfudin Zahirović ◽  
Adnan Rovčanin ◽  
Jasmina Okičić
Keyword(s):  
Bosnia And Herzegovina ◽  
Capital Market ◽  
Beta Coefficient ◽  
The Capital Market

scholarly journals Influencing Efficiency of Tax Relief on the Capital Market: An Empirical Study of China Supply-Side Reform

2019 ◽  
Vol 11 (11) ◽  
pp. 3012
Author(s):  
Changjun Jiang ◽  
Sanggyun Na ◽  
Fengting Jiang
Keyword(s):  
Capital Market ◽  
Positive Impact ◽  
Institutional Innovation ◽  
Supply Side ◽  
Monetary Policies ◽  
Tax Relief ◽  
Policy Measures ◽  
The Impact ◽  
Positive Effect ◽  
The Capital Market

One of the primary tasks of supply-side reform is to promote the reform of fiscal and taxation systems. It is an important part of institutional innovation to coordinate fiscal and other reforms. From the perspective of the supply side, this paper discusses whether the adjustment of fiscal and monetary policies will have a positive impact on China’s capital market and economic growth. In this paper, a windows-EBM model is constructed to test the panel data of major economies between 2008 and 2016, discuss their impact on the efficiency of the capital market, and to make a comparative analysis on the strategies to improve the vitality of China’s capital market. We find that the impact of China’s macro policies on capital market efficiency during 2008-2016 shows a huge potential space for adjusting fiscal and monetary policies, because these input factors are obviously interchangeable in China’s supply-side reform. This is in line with the expected direction of China’s supply-side reform. This paper reveals the positive effect of supply-side reform on capital activity. Tax cuts and monetary policy measures are needed to balance capital markets and to ensure their active and sustainable development.

FOREIGN INVESTMENT AND THE POLITICAL ECONOMY OF INDONESIAN CAPITAL MARKET IN 2015-2016

2019 ◽  
Vol 7 (6) ◽  
pp. 340-348
Author(s):  
Faris Al-Fadhat ◽  
Mohammad Raihan Nadhir
Keyword(s):  
Political Economy ◽  
Interest Rates ◽  
Foreign Investment ◽  
Capital Market ◽  
International Political Economy ◽  
Stock Exchange ◽  
Economic Stability ◽  
Foreign Investors ◽  
The Impact ◽  
The Capital Market

Purpose of the study: This article examines the impact of foreign investment—especially through the capital market—towards the economic stability and strategic policy in Indonesia. Despite being a member of G20, a group of states with the world’s highest Gross Domestic Products, Indonesia is still a developing state whose need for investment to support economic growth is high. On the other side, Indonesia has a low capital accumulation rate due to low people’s savings which inhibits the development projects. Therefore, the government prioritizes the incoming flow of foreign investment. Methodology: This study applies the international political economy approach to provide critical analysis of Indonesian contemporary foreign investment, especially in the capital market. The data used is the investment activities through the Indonesia Stock Exchange during 2015-2016. Main Findings: It argues that Indonesia’s considerable dependence on investment has enabled foreign investors to play the capital flow to influence the national economic stability for their interests. Such influence was a result of two strategies: (i) the transaction domination in the capital market through the Indonesia Stock Exchange, and (ii) the alliance with financial actors in accessing inside information—which is not commonly owned by domestic investors. Implications/Applications: This study suggests that the politics of foreign investors has contributed towards the changes of government policies in the financial sectors to facilitate the process and to ensure the flow of foreign investment to Indonesia. Such policies include the government’s control of interest rates, fiscal policy, as well as currency stability through macroprudential regulation. Novelty/Originality: Essentially, the capital market is not politically neutral. It has been used by foreign investors to augment their interests by dominating transactions and building political alliances at the domestic level.

scholarly journals INOVACIJE NA TRŽIŠTU KAPITALA ŠANSA ZA RAZVOJ BOSNE I HERCEGOVINE // INNOVATIONS ON THE CAPITAL MARKET THE CHANCE FOR DEVELOPMENT OF BOSNIA AND HERZEGOVINA

2016 ◽  
Vol 1 (9) ◽  
Author(s):  
Ismet Kumalić
Keyword(s):  
Bosnia And Herzegovina ◽  
Capital Market ◽  
Buy Back ◽  
The Capital Market

Ovaj rad ima za cilj da se istraži međuovisnost i uloga inovacija na tržišta kapitalai moguće implikacije na razvoj Bosne i Hercegovine. Tržište kapitala je mjesto gdjese pojavljuju masovni investitori koji žele da zadovolje svoje različite interese. Oni ćeinvestirati u instrumente koji zadovoljavaju njihove interese i koji im omogućujuizbor. Na drugoj strani emitenti instrumenata na tržištu kapitala žele da maksimizirajusvoje ciljeve. Što je tržište kapitala bogatije sa instrumentima to su prilike za izbor iinvestiranje veće. Inovacije na finansijskom tržištu kreiraju nove prilike i odnose iomogućuju investitorima veći izbor, a emitentima postizanje različitih ciljeva.Inovacije koje nose dodatne opcije omogućuju sprovođenje ciljane ekonomskerazvojne politike. Zemlje koje se nalaze u procesu tranzacije, kreiranjem različitihinstrumenata, imaju mogućnost da kreiranjem novih instrumenta ostvare više ciljeva uisto vrijeme. U radu se na primjeru „buy back“ obveznica razrađuje ideja postizanjavišestrukih ciljeva. „Buy buck“ obveznice, kao novi instrument na tržištu kapitala uBosni i Hercegovini, predstavljaju inovaciju koja može biti efikasan instrument zarazvoj tržišta kapitala, postupno sprovođenje privatizacije u strateškim sektorima,prilagođavanje novim izvorima kapitala i dovoljna sigurnost investitorima uvrijednosne papire. Primjenom i kombinacijom naučnih metoda analize i sinteze,kvantitativne i komparativne metode i metode deskripcije i kompilacije potvrđena jehipoteza: da inovacije na tržištu kapitala dovode do jačanja tržišta kapitala i stvaranjauslova za brži ekonomski razvoj.

scholarly journals Accounting Information and Psychological Factors in Capital Market : Do these Affect the Investors’ Decisions to Invest?

2020 ◽  
Vol 10 (2) ◽  
pp. 335
Author(s):  
Nur Fitry Latief ◽  
Fitria Ayu Lestari Niu
Keyword(s):  
Decision Making ◽  
Capital Market ◽  
Psychological Factors ◽  
Linear Regression Analysis ◽  
Accounting Information ◽  
Multiple Linear Regression Analysis ◽  
Psychological Factor ◽  
Measurement Tool ◽  
Test Results ◽  
The Capital Market

This study aims to determine the effect of accounting information and psychological factors on investor decision to invest in the capital market. The data come from questionnaire with a Likert scale measurement tool. The object was the investors of PT MNC Sekuritas Manado who were respondents as many as 119 investors. Data analysis uses multiple linear regression analysis with SPSS Version 25. The results find that partially and simultaneous the accounting information and psychological factor had a positive and significant effect on investor decision. This shows that the increasing accounting information and psychological factors available will increasingly influence the decision making of investors. But from the partial t-test results, it was found that the accounting information had more influence than the psychological factor, it means that investors tend to be rational in making their investment decisions by using accounting information as consideration for their decision making. This study provides empirical evidence regarding the influence of accounting information and psychological factors on investors' decisions to invest in the capital market and give contributions to academics and researchers by supporting the theory and results of previous research on the same topic.

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