we have divided the search into two
sections, In the first section we have talked about the nature of the
investment certificates in terms of its definition, its types, and its
numerous advantages.
In the second section, we have discussed bonds,
by casting light
on the definition of the bonds, then explaining about its provisions
in terms of its benefits, its conditions of issuance and its different
types; comparing all these concepts in detail with investment
certificates, to come to a conclusion which shows clearly that
investment certificates are superior to bonds.
The study aimed to provide a new evidence of the importance and role of corporate
bonds to raise their effectiveness and ensuring its success and survival in the world of
business, through their ability to increase profits and maximize shareholder
wealth.
The study is a serious attempt to identify the viewpoint of the management of
shareholding corporations listed on the DSE about the impediments to launch their bond
even though of the advantages offered.
The study was applied on a clustered sample of corporations listed on the stock
exchange, according to the company sector, and the questionnaire to managers and heads
of departments, to test the study hypotheses and analyze them by using SPSS package
(Version 20), The study adopted the descriptive analytical approach. The following
conclusions were reached:
There is a relationship between shareholding corporations' awareness and
understanding of the advantages of bonds, and taking the decision by issuing them and the
fear of launching bonds being convinced of constraints. And the limitations of full
understanding of the advantages of bonds of the decision makers prevents launching of
bonds.
The study recommended the need to activate the bond market and encourage
shareholding corporations to issue bonds in particular as tax-exempt financial instrument
with the encouragement of the zero bond being suited to a wide range of investors and
savers we are witnessing currently and providing the necessary facilities and facilitate
necessary to launch bonds especially under current economics in Syria.
The first part of this research will discuss the causes of the mortgage
bubble and the causes of its blow up in 2007, and the consequences of this
crisis on various financial institutions, then it will talk about the manner of
forming the packages
mortgage bonds and the reasons for their spread, and
how crisis turned from mortgage crisis to a liquidity crisis, then to solvency
crisis.
The second and third part will be allotted to study the indirect causes
that led to the global financial crisis, as well as the traditional solutions
proposed to get out, and will emphasize that these solutions are only firstaid
solutions and the need to adopt radical solutions leading to fortify the
global financial system to protect it from crises in the future, because the
great imbalance in the basic pillars of that system. In addition to
emphasizing that the typical solution is only to replace these pillars with
new, more powerful and stable ones, or simply changing the whole current
system.
