IMPROVEMENT OF THE SECONDARY MARKET FOR SECURITIES ISSUED BY JOINT STOCK COMPANIES

Abstract

The secondary market for securities issued by joint stock companies occupies a significant position in the financial system of any modern economy. As an important mechanism for reallocating financial resources and optimizing investment activity, the secondary market is the cornerstone that transforms securities from simple financial instruments into genuine drivers of economic growth, stability, and innovation. The role of the secondary market goes far beyond offering liquidity; it forms the foundation for transparent valuation, enhances corporate governance, activates investment processes, and supports the effective mobilization of savings across society.