Vertybinių popierių, jų indeksų charakteristika bei įvertinimas

Abstract

This theme is relevant due to several reasons. Privatization of government property, stocks publication of large and medium companies, creation of new stock company transformed Lithuanian economy. The stock companies appeared, securities market started to establish. The stock were invented and their owneres were called shareholderes. It is ordinary to sell and to buy stocks, to wait the dividends, to publish issue of stock, to care for activity of stock companies. So the main role fell on securities under modern market economic conditions. The objective of this work is to clear up what is it the securities, how they are divided and to evaluete the market of Lithuanian stock. The main tasks of this work are to explore what are the markets and how they are divided, how the securities are classified, to clear up the basic sign, which divide off stocks from bonds, futures from options, to clear up what are the basic features which are typical to bill of exchange, hypothec sheets, hybrid securities, to clear up the main sign which make treasury stocks different from securities which are distributed in abroad. Methods of the work are review of literature, filing of statistic data and graphic portrait. I used material of the NSEL, “Finasta” Ltd., “Verslo žinios“ Ltd., and data about securities given by other traders. There are different mechanism and their types of trading base in every market. So there is a need to demerge physical and financial capital markets. The forms of financial asset are divided into nummary and capital markets. All financial markets usually divided into primary and secondary. The securities can be described in different aspects, however security for company means financial responsibility in finance ruling aspect and for owner it means financial asset. The securities are used to perform an financial operations in private and national sectors. The securities are the means of finansing issued by series, which certify participation in stock capital or (and) rights, which arise from credits intercourse, and empower to obtain dividends, interest and other incomes. The main securities are stock, debt securities (bond, bill of exchange), derivative (futures, options), hypothec sheets, hybrid securities (preferred stock, convertible bond, transfer deposit certificate), treasury stocks and securities which are distributed in abroad, cheques (deposits of cheque account, cheque credit, travelling cheque), national debt securities and municipal securities. All securities have specific features and qualities, which are typical for them. The securities associate with risk. In summary I can add that securities market is complicated, elaborated and specific mechanism. I suppose that securities market will help to balance Lithuania economy and protect the body politic from financial tragedy.