Evaluating the Role of Financial Markets in the Financing of Enterprises of the Agricultural Sector of Economy of Ukraine
Journal Title: Бізнес Інформ - Year 2015, Vol 1, Issue 0
Abstract
The article is aimed to study the role and structure of placing of securities by Ukrainian agricultural enterprises in the foreign financial markets and estimate the influence of foreign stock market on development of the agrarian sector of Ukrainian economy. The volumes of external funds, raised by enterprises of the agricultural sector of Ukrainian economy at foreign stock markets during 2006-2013, has been analyzed in terms of the world stock exchanges, such as Warsaw Stock Exchange, London Stock Exchange, Frankfurt Stock Exchange, stock exchange Euronext, and the forms of placement (PP, IPO, PPO, SPO) and Eurobonds. The role of foreign stock market in the financial support of enterprises of the agricultural sector of Ukraine was evaluated on the basis of comparison with the long-term concessional credits and building a linear regression model, which showed a statistical dependency of the annual volume of gross agricultural production volume to the volume of raised funds by placing shares and Eurobonds in this market for the preceding year (i.e. with a 1-year lag).
Authors and Affiliations
Olena Oliynyk, Victor Adamenko
Keywords
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