Determinants of corporate bond issuance in the shareholding Corporations An empirical study on listed Firms in the Damascus Securities Exchange (DES)


Abstract in English

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.

References used

Citman Lawene -2009-"Principles of Managerial Finance-twelfth Ed-prentice-Hal NEWYORK-US
Thau Annette, 2010,The Bond Book, Third Edition: Everything Investors Need to Know About Treasuries, Municipals, GNMAs, Corporates, Zeros, Bond Funds, Money Market Funds, and More Hardcover – November 17
EMERGING MARKETS COMMITTEE OF THEINTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS IN COLLABORATION WITH THE WORLD BANK GROUP, Development of Corporate Bond Markets in the Emerging Markets Final Report, NOVEMBER 2011

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