До питання про класифікацію індикаторів фондового ринку

Abstract

The purpose of the article is to create a new approach to the classification of stock market indicators in economic theory. Three groups of indicators are proposed, including indicators of supply and demand, evolvement of stock market, and localization. The group of indicators of supply and demand is created on the basis of the market analysis standard in marketing research, including: capacity, capitalization, stock market turnover, stock indices, P/E index. Within the framework of this group, it is also proposed to use the indicator of IPO share in the capitalization of stock market, which demonstrates the degree of openness of the market and investors to new companies and is opposed to the characteristics of the conservatism of the stock market. Stock indices are considered separately and their classification is schematically created according to the calculation method, providing the stock indices, calculated using the method of arithmetic mean simple, geometric mean and arithmetic mean weighted. The belonging of the largest existing stock indices to a certain type in accordance with calculation is demonstrated. A practical explanation of the various approaches to the methodology for determining stock indices is presented. In the second group of development indicators, the following are highlighted: liquidity, profitability, volatility, and concentration of the stock market, by which it is possible to assess not only the quality characteristics, but also the level of evolvement of the stock market. The third group was created on the basis of localization, which interprets the characteristics of the stock market depending on its geographical affiliation. This group includes: the degree of development of equity capital, openness, transparency of the stock market, the level of risk of a separate country, the investment attractiveness index, the index of attractiveness of both venture and direct investments. It is identified that certain indicators determine the level of other indicators within this group. For each of the three groups of indicators, the essence of the indicator, the methodology for calculation and application were examined. There is also an explanation of the signs by which the indicators were assigned to a certain group of indicators in the proposed approach to their classification.