Regulation of portfolio investment: risks for investors and opportunities to minimize them

Gennady Degtev, Irina Gladilina, Svetlana Sergeeva, Vasily Zhukov

Resumo


Objective: The article discusses the risks of portfolio investment that arise during securities trading in Russia, and the possibilities for minimizing such risks for investors. The Russian securities market still experiences some risks that are not associated with average movements of prices. Method: The study aims at determining new organizational and legal mechanisms for protecting the interests of private portfolio investors and attracting new investments. Results: The authors of the article classify the risks for portfolio investments in Russia emerging in the process of securities trading with due regard to their changing values. They define mechanisms protecting stock market participants against risks (including compensatory). The authors also make assumptions about insurance services that might be in demand in the securities market. In addition, they consider the possibilities of using the world experience in insuring these risks in Russia considering national specifics. Conclusions: Authors highlighted the role of financial regulators and professional investors in improving the Russian investment climate.


Palavras-chave


Investment; Portfolio investment; Financial regulator; Sanctions; Compensation system.

Texto completo:

PDF (English)

Referências


Bank of Russia. (2017). The formation of compensation systems in the stock market. Retrieved from https://www.cbr.ru/Content/Document/File/50683/Consultation_Paper_171130.pdf

Bank of Russia. (2021, March 19). Central Bank of the Russian Federation decided to raise the key rate by 25 basis points to 4.5%. Retrieved from https://www.cbr.ru/press/pr/?file=19032021_133000key.htm

Bezpalov, V.V., Tsvetkova, A.B., Shilina, M.G., Golovina, V.V., & Avtonomova, S.A. (2020). PR support in strategic investor relations at retail companies. Journal of Advanced Pharmacy Education and Research, 10(2), 84-90.

Bondarenko, E.K. (2016). Osobennosti strakhovaniya riskov uchastnikov fondovogo rynka [Specific insurance against risks of stock market traders]. Regionalnaya ekonomika i upravlenie, 4(11), 13-16.

Ershov, M.V., & Tanasova, A.S. (2020). O nekotorykh riskakh rosta mirovoi ekonomiki [On some risks connected with the growth of global economy]. In Nauchnye trudy VEO Rossii, 222(2), 64-70. https://doi.org/10.38197/2072-2060-2020-222-2-64-70

Esipova, S.A., Rod, Y.S., & Khromtsova, L.S. (2021). State support for small and medium-sized entrepreneurship in regions with resource abundance. Revista Relações Internacionais do Mundo Atual, 3(32), 235-261.

European Parliament, Council of the European Union. (1997). Directive 97/9/EC of the European Parliament and of the Council on investor – compensation schemes. Retrieved from https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=celex:31997L0009

Financial Services Compensation Scheme (FSCS). (n.d.). Retrieved from https://www.fscs.org.uk

Frolova, V.B., Avramenko, G.M., Beskorovaynaya, S.A., Shelygov, A.V., & Matyunina, O.E. (2019). Digital economy in the management system of tourism enterprises. Journal of Environmental Management and Tourism, 10(6), 1345-1350.

Kalabukhova, G.V., Morozova, O.A., Onokoy, L.S., Chicherova, E.Y., & Shadskaja, I.G. (2020). Digitalization as a factor of increasing investment activity in the tourism industry. Journal of Environmental Management and Tourism, 11(4), 883-889. https://doi.org/10.14505//jemt.v11.4(44).12

Kiseleva, I.A., Tramova, A.M., Sozaeva, T.K., & Mustaev, M.M. (2022). Decision-making modeling in the context of risk and uncertainty caused by social and political processes. Revista Relações Internacionais do Mundo Atual, 2(35), 44-59.

Krekoten, V. (2021). Ves mir na schetu [The whole world in an account]. Vestnik NAUFOR, 1, 7.

Lochan, S.A., Rozanova, T.P., Bezpalov, V.V., & Fedyunin, D.V. (2021). Supply chain management and risk management in an environment of stochastic uncertainty (retail). Risks, 9(11), 197. https://doi.org/10.3390/risks9110197

Magomedov, R.M. (2019). Digital technologies for competitive analysis and evaluation of competitive capacity of a business entity. International Journal of Innovative Technology and Exploring Engineering, 9(1), 1184-1189. https://doi.org/10.35940/ijitee.A4522.119119

The Moscow Exchange. (n.d.). Retrieved from https://www.moex.com/n32444?nt=106

Popova, E.M., & Davydkin, S.M. (2021). Zashchita prav investorov kak neobkhodimoe uslovie razvitiya fondovogo rynka [The protection of investors' rights as the necessary condition for developing the stock market]. In I.A. Maksimtsev, E.A. Gorbashko, & V.G. Shubaeva (Eds.), Arkhitektura finansov: Vyzovy novoi realnosti. The proceedings of the 11th International scientific conference (pp. 48-52). St. Petersburg: St. Petersburg State University of Economics.

Ramazanov, I.A., Panasenko, S.V., Paramonova, T.N., Uryaseva, T.I., & Kalugina, S.A. (2018). Perception of price fluctuations in the context of consumption traditions and consumer expectations amid globalization of markets. Revista Espacios, 39(48), 34.

Redhead, K., & Hughes, S. (2000). Upravlenie finansovymi riskami [Financial risk management]. Moscow: INFRA-M.

Ryabova, I., Kuvshinova, O., & Kasyanchuk, D. (2022, March 4). Iran: Zhizn pod sanktsiyami [Iran: Life under sanctions]. Retrieved from https://econs.online/articles/ekonomika/iran-zhizn-pod-sanktsiyami/

Shayakhmetova, L., Maidyrova, A., & Moldazhanov, M. (2020). State regulation of the tourism industry for attracting international investment. Journal of Environmental Management and Tourism, 11(6), 1489-1495. https://doi.org/10.14505/jemt.11.6(46).19

Shur, V.L. (2019). Osobennosti formirovaniya portfelya tsennykh bumag v usloviyakh sovremennogo rossiiskogo rynka [The specific formation of a securities portfolio in the current Russian market]. Nauka i obrazovanie transport, 1, 256-258.

Smorodina, A.A., & Nedorezova, E.S. (2021). Individualnyi investitsionnyi schet kak finansovyi instrument sistemy individualnogo investirovaniya [An individual investment account as a financial tool with the system of individual investment]. Ekonomika i predprinimatelstvo, 9(134), 1050-1052.

State Duma of the Federal Assembly of the Russian Federation. (2020). Federal Law of July 31, 2020 No. 306-FZ "On introduction of amendments to Federal Law "On securities market" and certain legislative acts of the Russian Federation". Retrieved from http://publication.pravo.gov.ru/Document/View/0001202007310087

Tairov, R. (2022). The Russian stock market fell by 45%-50% and reached its lowest indicators in six years. Forbes. Retrieved from https://www.forbes.ru/investicii/456817-fondovyj-rynok-rossii-ruhnul-na-45-50-do-minimuma-za-sest-let

Troekurov, P.S. (2016). Finansovo-pravovye osnovy individualnykh investitsionnykh schetov: opyt razvitykh stran i perspektivy v Rossii [Financial and legal foundations of private investment accounts: the experience of developed economies and prospects for Russia]. Izvestiya Saratovskogo universiteta. Novaya seriya. Seriya: Ekonomika. Upravlenie. Pravo, 16(3), 326-332.

United States Congress. (2007). Foreign Investment and National Security ACT of 2007. Public Law 110-49. Retrieved from https://www.congress.gov/110/plaws/publ49/PLAW-110publ49.pdf

Yakovlev, R.S., & Slepukhina, Yu.E. (2016). Strakhovanie riskov nesostoyatelnosti (bankrotstva) brokerov na sovremennom finansovom rynke: Innovatsionnyi podkhod [Insurance against counterparty (bankruptcy) risks in the current financial market: The innovative approach]. In Rossiiskie regiony v fokuse peremen. The proceedings of the 11th International conference (pp. 1019-1023). Yekaterinburg: OOO "Izdatelʹstvo UMTS UPI".

Zabolotnikova, V., Selezneva, I., Nizamdinova, A., Mukhamedyarova-Levina, T., & Praliyeva, S. (2020). Entrepreneurial projects’ development: Alternative sources of investments. Entrepreneurship and Sustainability Issues, 8(2), 253-268. https://doi.org/10.9770/jesi.2020.8.2(15)




DOI: http://dx.doi.org/10.21902/Revrima.v5i38.5960

Apontamentos

  • Não há apontamentos.




Revista Relações Internacionais do Mundo Atual e-ISSN: 2316-2880

Rua Chile, 1678, Rebouças, Curitiba/PR (Brasil). CEP 80.220-181

Licença Creative Commons

Este obra está licenciado com uma Licença Creative Commons Atribuição-NãoComercial 4.0 Internacional.