Analytical assessment of the current trends of capitalization of enterprises on the stock market

Abstract

The development of market of capitals in Ukraine takes place in the conditions of permanent change of the economic state of affairs, that affects instability of development of his constituents. Tendency of fund market of Ukraine, which were researched in the article, testify the existence of considerable potential for him further development. In the basis of such development are such factors: the personal interest of most subjects of menage in realization of additional capital issue; presence of considerable amount of potentially perspective subjects of menage, the shares of which are substantially underestimated.

The results of the analysis conducted in the article allow to draw conclusion, that the fund market of Ukraine only de jure determines priorities of development of spheres of national economy, and de facto step forward as an environment of financing of a limited circle of companies, that results in a situation, when during the excessive concentration of tenders on an exchange stock, a circle of investment attractive shares remained restricted.

Most capitalized domestic industrial enterprises are concentrated in four branches of economy:

- metallurgy ("ArselorMittal Kryvyi Rig ", "The Nikopol plant of ferro-alloys", "Zaporizhstal", "Mariupol metallurgical plant of Illich name", "Nyzhnodniprovskyi tube-rolling plant", "Zaporizhzhya plant of ferro-alloys", "Kharcizsk pipe plant", "Dniprospecstal", "Asovstal");

- iron-ore production ("South GZK", "North GZK", "Central GZK", "Poltava GZK", mine of "Komsomolets Donbasu", mine management of "Pocrovske");

- machine-building ("Zaporizhtransformator", "Motor Sich", "Kriukivskyi carriage works", "Sumy machine-building SIJ of Frunze name ", "Agromashbud");

- energetics ("Dniproenergo", "Zakhidnoenergo", "Centroenergo").

The results of sectoral analysis confirm a conclusion about a limitedness of investment attractive shares of issuers and considerable concentration of financial market, as capitalization of home economy is provided by 115 joint-stock companies. It should admit, that the factors, that restrain the increase of capitalization of the Ukrainian enterprises are: small volume of shares that are in a free circulation and the inferior use of instruments of fund market. Only on condition of leveling of the named retentive factors, recovery of a domestic fund market and strengthening of capitalization of enterprises of Ukraine are possible.