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Aleksandra Stankovska, Savica Dimitrieska and Vasko Stamevski
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Aleksandra Stankovska: European University – Republic of Macedonia, Skopje
Savica Dimitrieska: European University – Republic of Macedonia, Skopje
Vasko Stamevski: International Slavic University Gavrilo Romanovic Derzavin, Sv.Nikole-Bitola

Economics and Management, 2018, vol. 14, issue 1, 115-124

Abstract: The subject of this paper is the current capital market problem from the legislation aspect, especially the stock exchanges where long-term financial instruments are traded. A review of the capital market legal framework, the capital market function, the key institutions that act on global and national level, the way of their establishment and the processes of their interactions are given. In the paper, a comparative approach has been made regarding the characteristics and legal regulations of the stock exchanges in highly developed economies with regard to the Macedonian Stock Exchange legislation. The paper`s aim is to give a legal regulations overview regarding the capital market function, especially the stock exchanges operation with securities and the trading manner in the securities issue, as an actual long-term financing source.

Keywords: capital market legislation; stock exchange; securities and securities issue (search for similar items in EconPapers)
JEL-codes: G10 G15 (search for similar items in EconPapers)
Date: 2018
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