Problemi Ekonomiki (Mar 2017)
Features of the Institutional Structure of the Polish Stock Market under Conditions of Transformational Changes in the Global Financial Environment
Abstract
Under modern conditions of transformational changes in the global financial environment, the international stock market acquires stable features of activization of investment activity, formation of a large network of professional participants in the stock market and its multi-level institutional structure, expansion of the range of trade in securities, access of economic entities of different countries to financial resources and diversification of mechanisms of concentration, etc. There conducted a study of peculiarities of the institutional structure of the Polish stock market in the context of transformational changes in the global economic system. The factors influencing the volume of capitalization of the Warsaw Stock Exchange are analyzed; the dependence of the capitalization of the Exchange on foreign portfolio investments in shares of Polish issuers is revealed. Based on the results of own calculations of multiple correlation coefficients, the level of dependence between capital stock market indicators and assets of such financial institutions in Poland as investment and open pension funds, insurance companies is determined, and a significant interconnection of assets of investment and open pension funds and insurance companies is revealed. The obtained results can become a basis for institutional investors in the process of making effective decisions on expanding the range of trading in securities.
