ANALYSIS OF YIELD INVESTORS IN CAPITAL MARKET BONDS OF THE REPUBLIC OF SERBIAN

Abstract

The capital market of the Republic of Srpska in the last two years was a sudden drop in prices of financial instruments that are the subject of trading with us for now the only Stock Exchange - Banja Luka Stock Exchange. Capital market is the segment of the econom wich first detect and react to the crisis, much before the crisis is felt in the real sphere of economy. In 2008, the current epicenter of the earthquake in the capital markets in the region, as well as the Banja Luka Stock Exchange, and decrease investor confidence, resulting in connection with the crisis-risk mortgage bond market in the United States, which has caused the global credit crisis and leading the world economy to the recession. However, the issue of bonds in the capital market of the Republic of Srpska in 2008 and 2009 a positive impact on price movements of securities at the Banja Luka Stock Exchange. On 15.04.2010 The Banja Luka Stock Exchange bond portfolio made up 24 bonds, of which 14 are government bonds, 6 Municipal, and the remaining 4 are bonds of companies. Bonds are becoming increasingly important financial instrument in the capital market of the Republic of Srpska. It goes in favor of the conclusion that in recent times sales of bonds on the Banja Luka Stock Exchange in a higher than average shares. Investment policy must be created as a compromise between yield and risk, and must meet requirements regarding liquidity, revenues and taxes. Given that the yield of the main motive of investors investing in the capital market, the paper was given to quantitative analysis of yield investors in bonds.