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Theoretical foundations of information asymmetry of market of collective investments

Annotation

The current state of financial market largely depends on the information space, resulting in the formation of demand and supply of financial assets. Thus the interaction of the institutions of the financial market takes place in conditions of asymmetric information, which creates unequal conditions of the parties to the transaction. Especially important consideration of this problem in the framework of modern financial market of Russia, as the lack of investment in the real sector largely reflected in economic indicators in the country as a whole. Modern domestic financial market form the environment in which decisions are made in the absence of completeness and symmetry of the distribution of information. The uneven distribution of available information on the stock market rises to adverse selection, as a consequence of the abandonment of investment in the future. The real sector of the Russian economy requires financing through various financial assets, which are generated on the securities market. There are so many instruments of the stock market for investment, but of the variety is to provide tools for collective investment, promote the involvement of the broad masses of the population in the financing of domestic companies. Investigation of the features of the collective investment market of Russia is particularly relevant at the moment due to the ongoing infrastructural changes in this segment.

Keywords

information asymmetry; adverse selection; moral hazard; market of collective investments; information field.

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UDC

336.77.067.22

Pages

168-174

References

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Received

2014-09-20

Section of issue

Problems and prospects of development of modern economics

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