FINANCING OF BUSINESS ENTITIES IN REPUBLIC OF MACEDONIA THROUGH ISSUE OF BONDS

Gordana Vitanova, Gordana Trajkoska, Dragica Odzaklieska and Tatjana Spaseska
Additional contact information
Gordana Vitanova: FACULTY OF ECONOMICS-PRILEP, UNIVERSITY ST.KLIMENT OHRIDSKI-BITOLA
Gordana Trajkoska: FACULTY OF ECONOMICS-PRILEP, UNIVERSITY ST.KLIMENT OHRIDSKI-BITOLA
Dragica Odzaklieska: FACULTY OF ECONOMICS-PRILEP, UNIVERSITY ST.KLIMENT OHRIDSKI-BITOLA
Tatjana Spaseska: FACULTY OF ECONOMICS-PRILEP, UNIVERSITY ST.KLIMENT OHRIDSKI-BITOLA

Annals - Economy Series, 2015, vol. 1II, 56-64

Abstract: Financing of the capital market is in a close relation with the offer and demand for financial resources, i.e. the interaction between the entities with surplus and those with deficit of financial resources. In the developed economies, the bond is very important instrument on the capital market, as a possibility for capital mobilization through their issuing by the business entities and as a possibility for investing free financial resources, from the investors’ point of view. The knowledge of the advantages of this kind of security is the basic prerequisite for its increased implementation in the market, as an alternative for realizing profit by the two parties, i.e. the issuer and the investor. The most usual problem for absence of this kind of security, besides the low level of capital market development, is the fact that the business entities are not informed about the possibilities offered by the bond, and about the advantages it has over the other securities. Because of that, it is indispensable each potential issuer to be informed what the bond is, which its basic elements are, the kinds of bonds, how the interest rate is determined, how the value of the bond is determined any time before its maturity etc. The purpose of this research is to obtain clear picture for the advantages of and risks from capital mobilization through issue of bonds, to make analysis of the situation in R. Macedonia and to suggest measures for higher participation of this financing source into the business entities.

Keywords: bonds; issuers; capital market (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.utgjiu.ro/revista/ec/pdf/2015-01.Volumu ... ova,%20Trajkoska.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2015:v:1ii:p:56-64

Access Statistics for this article

More articles in Annals - Economy Series from Constantin Brancusi University, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ecobici Nicolae ( this e-mail address is bad, please contact ).