2(134)/2017

EXPANSION PATHS THE CORPORATE SECURITIES MARKET (ON THE EXAMPLE OF SOCAR'S BONDS)

Kerimov Atik Ehsan oghlu
Professor, Doctor of economics, Azerbaijan State University of Economics – UNEC
Babayev Azer Alim oglu
Ph.D., Assistant professor, Azerbaijan State University of Economics – UNEC


Abstract


Purpose – show possible options, ways and problems of promoting corporate securities in a society with a weak stock traditions (on the example of the issue and primary offering of SOCAR's bonds).
Design/methodology – dialectics methods, causative and effective analysis.
Findings - in the conditions of a society with a nascent stock market and unsettled market traditions, the expansion of the corporate securities market largely depends on the democratization of the emission conditions in favor of small investors with mandatory state support for the respective efforts of issuers.

Research limitations – the lack of analytical information so that this study is not limited to only the SOCAR's bonds.
Practical implications – the example of the SOCAR's bonds reveals obstacles to the development of the stock market of Azerbaijan.
Originality/value – The significance of the conditions for the issue of securities is justified for their popularization among the population.


Keywords: securities, stock market, SOCAR's bonds, small investors, investment.


JEL Classification Codes: G12, G3, K22


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