Peculiarities Of Speculative Operations On The Capital Market In Ukraine

Анотація

The article is devoted to substantiation of the concept of capital market, research of its structure, features and principles of functioning. It is substantiated that in the market system of relations the corporate sector needs access to external sources of financing to ensure its expanded reproduction because its own financial resources are usually insufficient, which is due to the tendency to accelerate the recovery of factors of production due to global trends. high technological ways. The author emphasizes that the economic essence of the capital market is manifested in its specific functions, which it performs (redistribution, accounting, concentration of capital, reproduction process) and general market functions (pricing, market intermediation, transaction cost optimization, information). It is proved that the key criterion for determining the capital market is the relationship of functions related to the redistribution of capital between market participants and the transformation of capital from savings to investment. It is established that the relationship between market participants is determined by the term of circulation of securities or the term of loan capital, as well as the purpose of borrowed financial resources. Because the determining criterion for classifying financial instruments in the money market or capital market will not be the term of circulation of the financial instrument, and the purpose of attracting financial resources. It is proved that the speculative capital market is a set of economic relations, financial mechanisms and instruments by which the supply of capital is formed by transforming it from savings to investment in order to ensure reproductive processes.

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