Evaluation of Holdings of Securities of the Depository Corporations of Ukraine
Journal Title: Бізнес Інформ - Year 2014, Vol 10, Issue 0
Abstract
The article assesses the level, dynamics, structure and composition of the holdings of securities in the context of the corporate management of depository corporations. A clear trend of the polynomial growth of holdings of securities with the highest pace in 2013, that shows the general trend of the stock market of Ukraine, was identified. It was displayed that the fixed nature of the obligations of depository corporations makes a great attraction of investment in debt securities, the share of equity securities varies cyclically, and their sharp decline coincides in time with the deterioration of the investment climate in the country. It is determined that the largest share in the structure of securities other than shares issued by non-residents of Ukraine, are debt securities of Central Government, having the attractiveness of the lesser risk and profitable conditions for formation of reserves. Negative characteristics of the holdings of debt securities of depository corporations are: speculative short-term nature, scarcity and decline in the share of securities of non-financial corporations. It is shown that in the structure of holdings of equity securities for nearly half the shares belong to the private non-financial corporations, which reflects the support of the banks of the economy real sector.
Authors and Affiliations
Nataliya Dyeyeva, Kateryna Mashchenko
Keywords
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