EFFECTIVENESS OF THE USE OF FINANCIAL LEVERS IN ATTRACTING FOREIGN INVESTMENTS IN JOINT-STOCK COMPANIES
DOI:
https://doi.org/10.5281/zenodo.19371979Keywords:
joint-stock company, foreign investment, financial levers, dividend policy, bonds, corporate finance, investment attractiveness, issuance, portfolio investments, financial market.Abstract
This article analyzes the effectiveness of using financial instruments (dividend policy, issuance, preferred
shares, international bonds) in attracting foreign investment to joint-stock companies (JSCs). The study considers
strategies for creating an attractive financial environment for foreign investors, optimizing financial instruments in the
corporate governance system, and reducing investment risks. It also provides scientific and practical recommendations
for modernizing joint-stock companies and increasing their competitiveness in international financial markets by attracting
foreign capital
References
Brealey R., Myers S., Allen F. Principles of Corporate Finance. – New York: McGraw-Hill, 2020.
Damodaran A. Investment Valuation: Tools and Techniques for Determining the Value of Any Asset. – New York: Wiley,
Modigliani F., Miller M. The Cost of Capital, Corporation Finance and the Theory of Investment // American Economic
Review. - 1958. - Vol. 48. – P. 261–297.
Jensen M., Meckling W. Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure // Journal of
Financial Economics. - 1976. - Vol. 3. – P. 305–360.
La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny R. Investor Protection and Corporate Governance // Journal of
Financial Economics. - 2000. - Vol. 58. – P. 3–27.
Fabozzi F. Bond Markets, Analysis and Strategies. – Boston: Pearson, 2013.
World Bank. World Development Report 2023: Investing in Development. – Washington DC: World Bank, 2023.
UNCTAD. World Investment Report 2024. - Geneva: United Nations, 2024.
OECD. Corporate Governance Factbook 2023. – Paris: OECD Publishing, 2023.
Levine R. Financial Development and Economic Growth: Views and Agenda // Journal of Economic Literature. - 1997.
- Vol. 35. – P. 688–726.
Demirgüç-Kunt A., Maksimovic V. Law, Finance, and Firm Growth // Journal of Finance. - 1998. - Vol. 53. – P. 2107–
International Monetary Fund. Global Financial Stability Report. – Washington DC: IMF, 2023.