Корпоративна финансиска политика

The globalization of the international economic, financial and monetary movements around the world, the greater concentration and decentralization in the process of manufacture, the commerce and the capital, as well as the opening of the national economies opened to the world, enforce the corporations to rationalize its own path of development, as well as their manufacturing and financial policy. In order to all this the corporations should modernize and improve the policy of the financial and dividend policy on middle and long term. And that it’s exactly here, that we can focus the basic problem, an issue that a lot of corporations are faced to, can be most clearly seen. Furthermore, it is the main issue of financing, the investment and dividend policy. The relevance of these social problems, for me, was not only a great challenge, for researching and analyzing, but a great obligation for serious access in its elaboration as well. The dividend policy represents an area interesting for shareholders, but at the same time it is an area, where the corporative management regarding the possibility of mutual connection between the dividend and the market corporation value, endevours to keep its own interests. The successful realization of dividend policy is a satisfactory base for efficiency of the investment policy, where the influence of great number of other factors is significant such as: the question of insolvency, the financial structure, the stability of net income, the degree of profitability and soon. Providing of the healthy investment policy that will be the leading factor of the national economy towards stability, success and balance, the chances for success will be enormously satisfactory, having in mind the dividend policy as well, that will be aiming at total satisfaction for share holder’s interests, which means payment of high dividend, as a stimulus and potentiality for further investments. The corporations that continually create profit and invest a great part of it, are regarded as successful corporations, which means that they are improving continually and they create better perspective at the same time. It might be criticized, having in mind the shareholder’s aspect, but in a longer term period it would be completely different. By the investment in the corporation itself, by help of the profit means as well as by more successful management and increasing of its economic and financial image, the value of the corporation is enlarging at the same time and consequently the share’s values. In the corporations where the investment is less done, and where the great part of it goes to the dividend, if might come the situation of regressing, and the process of retrogression in other words a development characterized with slow dynamics, and by the point of view of long term period having in mind the aspect of extreme distance, they lose more than they make real profits. The total issue, that has been mentioned so far, I have succeeded in analyzing and researching in eight categories of questions in which synthesis the following fields can be followed.  the policy of financing, the way and the forms of its implementation and the importance of making the decisions, regarding the investment  and the dividend police, the stability of dividend payments, the altitude of the dividend payment, as well as the decision to keep or reinvest the achieved profit. The researching and the detailed elaboration of these thematic fields, initiated the awareness to me that in conditions of disadvantageous economic activities, as a result of our reduced investment activity followed by a range of negative economic and social implications especially expressed in unemployment and the social insecurity, the most important thing that should urgently be done is the economic reconstruction, by entrepreneurship, of new, small private enterprises and business, creating conditions for implementation of economic principals in business, strengthening the competition and its ability in the national economy.

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