{"id":5237,"date":"2022-11-18T08:00:00","date_gmt":"2022-11-18T05:00:00","guid":{"rendered":"https:\/\/rockvell.com\/?p=5237"},"modified":"2022-11-18T09:04:04","modified_gmt":"2022-11-18T06:04:04","slug":"qiym%c9%99tli-kagizlar-bazarindan-kapital-v%c9%99-borc-pul-v%c9%99saitinin-c%c9%99lbi-yollari-2","status":"publish","type":"post","link":"https:\/\/rockvell.com\/?p=5237","title":{"rendered":"Qiym\u0259tli ka\u011f\u0131zlar bazar\u0131ndan kapital v\u0259 borc pul v\u0259saitinin c\u0259lbi yollar\u0131"},"content":{"rendered":"\n

Qiym\u0259tli ka\u011f\u0131zlar bazar\u0131ndan kapital v\u0259 borc pul v\u0259saitinin c\u0259lbi yollar\u0131<\/strong><\/p>\n\n\n\n

BAZAR \u0130QT\u0130SAD\u0130YYATI \u015e\u018fRA\u0130T\u0130ND\u018f \u015e\u0130RK\u018fTL\u018fR \u00dc\u00c7\u00dcN BORC V\u018fSA\u0130T (KAP\u0130TAL) C\u018fLB ETM\u018fY\u0130N B\u0130R NE\u00c7\u018f \u00dcSULU VARDIR V\u018f BUNLAR \u0130\u00c7\u018fR\u0130S\u0130ND\u018f BANK KRED\u0130TL\u018fR\u0130 \u0130L\u018f YANA\u015eI Q\u0130YM\u018fTL\u0130 KA\u011eIZLAR BAZARINDAN KAP\u0130TAL C\u018fLB\u0130 D\u018f X\u00dcSUS\u0130 YER TUTUR.<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Bazar iqtisadiyyat\u0131 \u015f\u0259raitind\u0259 \u015firk\u0259tl\u0259r \u00fc\u00e7\u00fcn borc v\u0259sait (kapital) c\u0259lb etm\u0259yin bir ne\u00e7\u0259 \u00fcsulu vard\u0131r v\u0259 bunlar i\u00e7\u0259risind\u0259 bank kreditl\u0259ri il\u0259 yana\u015f\u0131 qiym\u0259tli ka\u011f\u0131zlar bazar\u0131ndan kapital c\u0259lbi d\u0259 x\u00fcsusi yer tutur. Qiym\u0259tli ka\u011f\u0131zlar bazar\u0131 investorlara \u0259lav\u0259 g\u0259lir qazanmaq imkan\u0131 yaratd\u0131\u011f\u0131 kimi, m\u00fcxt\u0259lif \u015firk\u0259tl\u0259r\u0259 d\u0259 borc v\u0259saiti v\u0259 ya kapital c\u0259lbi \u00fc\u00e7\u00fcn geni\u015f imkanlar t\u0259qdim edir.<\/p>\n\n\n\n

B\u0259s qiym\u0259tli ka\u011f\u0131zlar bazar\u0131ndan nec\u0259 v\u0259sait (kapital) c\u0259lb etm\u0259k olar?<\/strong><\/p>\n\n\n\n

Bu istiqam\u0259td\u0259 qiym\u0259tli ka\u011f\u0131zlar bazar\u0131 \u015firk\u0259tl\u0259r\u0259 iki \u0259sas alternativ t\u0259qdim edir:<\/p>\n\n\n\n

  1. \u0130stiqraz burax\u0131l\u0131\u015f\u0131 (emissiyas\u0131)<\/li>
  2. S\u0259hm burax\u0131l\u0131\u015f\u0131 (emissiyas\u0131)<\/li><\/ol>\n\n\n\n

    \u0130stiqraz emissiyas\u0131n\u0131n x\u00fcsusiyy\u0259tl\u0259ri<\/strong><\/p>\n\n\n\n

    \u0130stiqraz emissiyas\u0131n\u0131n dig\u0259r maliyy\u0259 imkanlar\u0131ndan bir s\u0131ra f\u0259rql\u0259ndirici v\u0259 \u00fcst\u00fcn c\u0259h\u0259tl\u0259ri var. S\u0259hm emissiyas\u0131ndan f\u0259rqli olaraq, istiqrazlar\u0131n emissiyas\u0131 zaman\u0131 istiqrazlar\u0131 \u0259ld\u0259 etmi\u015f investorlar \u015firk\u0259tin idar\u0259\u00e7iliyind\u0259 he\u00e7 bir paya malik olmur. Bu bax\u0131mdan idar\u0259\u00e7ililiyi itirm\u0259m\u0259k \u015f\u0259rti il\u0259 borc v\u0259sait c\u0259lb etm\u0259k ist\u0259y\u0259n emitentl\u0259r (qiym\u0259tli ka\u011f\u0131zlar\u0131 emissiya ed\u0259n \u015firk\u0259t) istiqraz emissiyas\u0131n\u0131 se\u00e7irl\u0259r. Qeyd ed\u0259k ki, istiqraz emissiyas\u0131 bu x\u00fcsusiyy\u0259tin\u0259 g\u00f6r\u0259 bank kreditl\u0259rind\u0259n d\u0259 m\u00fcsb\u0259t m\u0259nada f\u0259rql\u0259nir. H\u0259m\u00e7inin bank kreditl\u0259rind\u0259n f\u0259rqli olaraq, istiqraz emissiyas\u0131 zaman\u0131 m\u00fch\u00fcm \u015f\u0259rtl\u0259rin (faiz d\u0259r\u0259c\u0259si, faizl\u0259rin \u00f6d\u0259nilm\u0259si aral\u0131\u011f\u0131 v\u0259 s.) emitent t\u0259r\u0259find\u0259n m\u00fc\u0259yy\u0259nl\u0259\u015fdirilm\u0259si istiqraz emissiyas\u0131n\u0131 daha da \u00fcst\u00fcn edir.<\/p>\n\n\n\n

    S\u0259hm emissiyas\u0131n\u0131n x\u00fcsusiyy\u0259tl\u0259ri<\/strong><\/p>\n\n\n\n

    S\u0259hm emissiyas\u0131 emitent \u015firk\u0259tl\u0259r\u0259 \u00f6z nizamnam\u0259 kapitallar\u0131n\u0131n art\u0131r\u0131lmas\u0131 \u00fc\u00e7\u00fcn \u0259v\u0259zedilm\u0259z vasit\u0259dir. Lakin s\u0259hm emissiyas\u0131n\u0131n imkanlar\u0131 yaln\u0131z bununla m\u0259hdudla\u015fm\u0131r. Bel\u0259 ki, s\u0259hm emissiyas\u0131ndan \u0259ld\u0259 edilmi\u015f kapital da dig\u0259r maliyy\u0259 imkanlar\u0131nda oldu\u011fu kimi, \u015firk\u0259tin daha g\u0259lirli f\u0259aliyy\u0259ti \u00fc\u00e7\u00fcn istifad\u0259 edil\u0259 bilir. Lakin adi s\u0259hm emissiyas\u0131n\u0131n \u00f6z\u00fcn\u0259m\u0259xsus x\u00fcsusiyy\u0259tin\u0259 g\u00f6r\u0259  s\u0259hm emissiyas\u0131 dig\u0259r maliyy\u0259 imkanlar\u0131ndan f\u0259rql\u0259nir. Bel\u0259 ki, s\u0259hmi \u0259ld\u0259 etmi\u015f investorlar \u015firk\u0259tin g\u0259lirl\u0259rin\u0259 v\u0259 idar\u0259\u00e7iliyin\u0259 \u201c\u015f\u0259rik\u201d olurlar. Adi s\u0259hm sahibl\u0259ri s\u0259hml\u0259r \u00fczr\u0259 dividendl\u0259rini is\u0259 (\u201c\u015f\u0259riklik\u201d pay\u0131n\u0131) yaln\u0131z \u015firk\u0259t ili m\u0259nf\u0259\u0259tl\u0259 ba\u015fa vurdu\u011fu t\u0259qdird\u0259 ala bilir. Bu is\u0259 s\u0259hm emissiyas\u0131n\u0131n iki m\u00fch\u00fcm \u00fcst\u00fcn x\u00fcsusiyy\u0259t\u0259 malik olmas\u0131n\u0131 \u015f\u0259rtl\u0259ndirir:<\/p>\n\n\n\n

    1. Bank krediti v\u0259 istiqrazlardan f\u0259rqli olaraq, kapital m\u0259nb\u0259l\u0259ri (investorlar) emitent \u015firk\u0259tin m\u0259nf\u0259\u0259tl\u0259 f\u0259aliyy\u0259t g\u00f6st\u0259rm\u0259sin\u0259 daha \u00e7ox maraql\u0131 olurlar.<\/li>
    2. Emitent \u015firk\u0259t dividendl\u0259rin \u00f6d\u0259nilm\u0259sind\u0259 s\u0259rb\u0259stdir v\u0259 investorlar qar\u015f\u0131s\u0131nda ilin sonunda m\u00fc\u0259yy\u0259n h\u0259cmd\u0259 faiz \u00f6d\u0259y\u0259ciyi il\u0259 ba\u011fl\u0131 he\u00e7 bir \u00f6hd\u0259lik g\u00f6t\u00fcrm\u00fcr.<\/li><\/ol>\n\n\n\n

      Lakin bu zaman n\u0259z\u0259r\u0259 almaq laz\u0131md\u0131r ki, uzunm\u00fcdd\u0259t dividend \u00f6d\u0259m\u0259y\u0259n \u015firk\u0259tl\u0259r\u0259 investorlar\u0131n mara\u011f\u0131 azal\u0131r.<\/p>\n\n\n\n

      B\u0259s qiym\u0259tli ka\u011f\u0131zlar\u0131n burax\u0131l\u0131\u015f\u0131n\u0131 (emissiyas\u0131n\u0131) nec\u0259 h\u0259yata ke\u00e7irm\u0259li?<\/strong><\/p>\n\n\n\n

      Qiym\u0259tli ka\u011f\u0131zlar\u0131n burax\u0131l\u0131\u015f\u0131 (emissiyas\u0131) prosesi \u00fcmumi halda a\u015fa\u011f\u0131dak\u0131 m\u0259rh\u0259l\u0259l\u0259rd\u0259 h\u0259yata ke\u00e7irilir:<\/p>\n\n\n\n

      1. Emissiya bar\u0259d\u0259 q\u0259rar\u0131n q\u0259bulu<\/li>
      2. \u0130nvestisiya \u015firk\u0259tl\u0259rin\u0259\u00a0m\u00fcraci\u0259t edilm\u0259si<\/li>
      3. Emissiyan\u0131n Maliyy\u0259 Bazarlar\u0131na N\u0259zar\u0259t Palatas\u0131 t\u0259r\u0259find\u0259n qeydiyyata al\u0131nmas\u0131<\/li>
      4. Emissiyan\u0131n Bak\u0131 Fond Birjas\u0131nda listinq\u0259 q\u0259bulu (ehtiyac olduqda)<\/li>
      5. Qiym\u0259tli ka\u011f\u0131zlar\u0131n emissiyas\u0131n\u0131n m\u00fcvafiq bazarlarda \u0130nvestisiya \u015firk\u0259ti vasit\u0259sil\u0259 icra edilm\u0259si v\u0259 kapital\u0131n c\u0259lbi<\/li><\/ol>\n\n\n\n

        <\/p>\n","protected":false},"excerpt":{"rendered":"

        Qiym\u0259tli ka\u011f\u0131zlar bazar\u0131ndan kapital v\u0259 borc pul v\u0259saitinin c\u0259lbi yollar\u0131 BAZAR \u0130QT\u0130SAD\u0130YYATI \u015e\u018fRA\u0130T\u0130ND\u018f \u015e\u0130RK\u018fTL\u018fR \u00dc\u00c7\u00dcN BORC V\u018fSA\u0130T (KAP\u0130TAL) C\u018fLB ETM\u018fY\u0130N B\u0130R NE\u00c7\u018f \u00dcSULU VARDIR V\u018f BUNLAR \u0130\u00c7\u018fR\u0130S\u0130ND\u018f BANK KRED\u0130TL\u018fR\u0130 \u0130L\u018f YANA\u015eI Q\u0130YM\u018fTL\u0130 KA\u011eIZLAR BAZARINDAN KAP\u0130TAL…<\/p>\n","protected":false},"author":2,"featured_media":5238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/posts\/5237"}],"collection":[{"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rockvell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5237"}],"version-history":[{"count":1,"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/posts\/5237\/revisions"}],"predecessor-version":[{"id":5239,"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/posts\/5237\/revisions\/5239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rockvell.com\/index.php?rest_route=\/wp\/v2\/media\/5238"}],"wp:attachment":[{"href":"https:\/\/rockvell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rockvell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rockvell.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}