sabirJo saqmis safuZvlebi
sabirJo saqmis safuZvlebi sabirJo saqmis safuZvlebi
gamo xorcieldeba. amisaTvis birJaze specialuri saxeobis garigebebi da misi gaformebis meqanizmebi gamoiyeneba. ♦ sabirJo saqmianobis spekulacia. igi birJaze komerciuli saqmianobis formaa, romlis mizania sabirJo saqonelze yidva-gayidvis fasTa sxvaobis Sedegad mogebis miReba. es funqcia hejirebasTan dakavSirebulia. riski, romlisganac dazRveulia hejeri, birJis spekulantzec vrceldeba. es ukanaskneli SeiZleba iyos nebismieri piri an kompania, romelic mogebis misaRebad moqmedebs principiT: `iyidos iafad, gayidos Zvirad~. ♦ stabilizaciis funqcia, romelic sabirJo spekulaciis meqanizmiT realizdeba. am procesSi warmoiqmneba aJiotaJi da xSirad panikac. aseTi meqanizmi iTvaliswinebs fasebis Semcireba-gadidebaze TamaSs. im pirTa moqmedeba, romlebic cdiloben fasebis amaRlebas (sabirJo terminologiiT maT ewodebaT `xarebi~) da Semcirebas (Sesabamisad _ `daTvebi~), normalur pirobebSi mimarTulia urTierTSesaxvedrad da awonasworeben erTmaneTs, rac fasebis stabilizacias ganapirobebs. ♦ garigebis Sesrulebis garantia. aRniSnuli funqcia kliringisa da angariSsworebis sabirJo sistemebis daxmarebiT miiRweva. amisaTvis birJa iyenebs unaRdo angariSsworebis, urTierTCaTvlebisa da valdebulebebis sistemebs, aseve organizacias ukeTebs maT Sesrulebas. ♦ sainformacio funqcia. birJa masmediis saSualebebiT sazogadoebas acnobs sabirJo fasebis, birJaze movaWre kompaniebisa da sxvaTa mravalricxovan informacias. maRalganviTarebul qveynebSi birJebis sainformacio saqmianoba imdenad mniSvnelovania, rom isini sabirJo informaciis gayidviT 30%-mde Semosavlebs iReben. 3. birJebis klasifikacia da saxeebi birJebis klasifikacia (dajgufeba) mravali niSniT SeiZleba. kerZod: ♦ msoflio praqtikaSi sabirJo saqonlis saxeobis mixedviT miRebulia aseTi dayofa: sasaqonlo, safondo da savaluto birJebi. 23
♦ organizaciis principis mixedviT birJebi sam saxeobad iyofa: sajaro-samarTlebrivi (saxelmwifo birJebi); kerZosamarTlebrivi (kerZo birJebi) da Sereuli birJebi. sajaro-samarTlebrivi birJebi Sesabamisi kanonis safuZvelze iqmneba da saxelmwifos mier kontroldeba. aseTi birJis wevri SeiZleba iyos nebismieri mewarme, romelic Setanilia birJis savaWro reestrSi da aqvs gansazRvruli odenobis brunva. birJis arawevri pirebi birJaze garigebis gasaformeblad mxolod erTjeradi bileTebiT daiSvebian. aseTi birJebi gavrcelebulia safrangeTSi, belgiasa da niderlandSi. kerZo-samarTlebrivi birJebi damaxasiaTebelia didi britaneTisa da aSS-saTvis. isini funqcionireben mxolod im viwro wris pirebisaTvis, romlebic sabirJo korporaciaSi Sedian. birJis wevroba SezRudulia. aseTi birJebi, rogorc wesi, sapaio sazogadoebebia. birJis wevri unda flobdes Tundac erT pais (wils) mainc anu igive sertifikats, romelic mas birJis SenobaSi garigebis gaformebis uflebas aZlevs. Sereuli birJebic kontinentur evropaSia gavrcelebuli. isini ufro safondo birJebis saxiT gvxvdeba. mag., venis safondo birJa. aseTi birJebisaTvis damaxasiaTebelia is, rom saxelmwifos xelSia birJis aqciebis nawili (Tu birJa Seqmnilia saaqcio sazogadoebis formiT), rac mis mflobels saSualebas aZlevs Tavisi warmomadgeneli hyavdes birJis marTvis aRmasrulebel organoebSi da am gziT gaakontrolos birJis saqmianoba. ♦ organizaciul-samarTlebrivi formis mixedviT birJebi ZiriTadad arsebobs, rogorc saaqcio sazogadoebebi da SezRuduli pasuxismgeblobis amxanagobebi. sabirJo vaWrobis ganviTarebis kvalobaze birJebi, umetesad, arakomerciul profils irCeven. Sesabamisad amisa, organizaciul-samarTlebriv formasac icvlian. dReisaTvis, savaluto birJebi, ZiriTadad, saaqcio sazogadoebebad rCebian, sasaqonlo birJebi arakomerciul asociacias aniWeben upiratesobas, xolo safondo birJebi arakomerciuli partniorobis formaze ufro gadadian. ♦ sabirJo vaWrobaSi damswreTa monawileobis mixedviT arsebobs Ria da daxuruli birJebi. Ria sabirJo vaWrobaSi birJebis mudmivi wevrebisa da Suamavlebis garda mayureblebic monawileoben. amasTan, Ria birJa ori tipisaa: `idealuri~ da Sereuli. 24
- Page 1 and 2: g. jolia sabirJo saqmis safuZvlebi
- Page 3 and 4: naSromSi ganxilulia sabazro urTierT
- Page 5 and 6: nawili meore _ sabirJo saqmis praqt
- Page 7 and 8: nawili meoTxe _ sabirJo enciklopedi
- Page 9 and 10: sxvadasxva formebSi organizebuli ba
- Page 11 and 12: leba SeuZliaT, mag., aiRon sesxad f
- Page 13 and 14: vaWroba arasabirJo brunvaSi gadavid
- Page 15 and 16: sabiTumo vaWrobis formebi organizeb
- Page 17 and 18: maSasadame, birJa organizebuli baza
- Page 19 and 20: Cveulebrivi vaWrobisagan gansxvaveb
- Page 21 and 22: • XX s-is 70-80-ani ww. _ birJa,
- Page 23: kontraqtis safuZvlad miCneuli sabir
- Page 27 and 28: erovnuli birJebi erTi qveynis sazRv
- Page 29 and 30: • bazris efeqturobis iseTi meqani
- Page 31 and 32: • masiuri anu mravali mwarmoeblis
- Page 33 and 34: gayidvis faqtobrivi moculoba unda i
- Page 35 and 36: informacia saqonlis sertifikaciis S
- Page 37 and 38: fasian qaRalds arc nivTobrivi forma
- Page 39 and 40: ogorc ekonomikuri kategoria, fasian
- Page 41 and 42: siani qaRaldebia saqonlis (mag., xo
- Page 43 and 44: safinanso bazarze Seqmnili mdgomare
- Page 45 and 46: obligacia (laT. obligatio _ valdebu
- Page 47 and 48: fasiani qaRaldis cneba pirvelad ger
- Page 49 and 50: valutis kursi masze moTxovna-miwode
- Page 51 and 52: • monopsonia (erTi myidveli da ga
- Page 53 and 54: vaWrobis organizaciis TvalsazrisiT,
- Page 55 and 56: civilizacias avrcelebs, romelic mow
- Page 57 and 58: XXI s-is dasawyisidan msoflios wamy
- Page 59 and 60: mniSvnelovnad rTuldeba sagareo-ekon
- Page 61 and 62: nawili II. sabirJo saqmis praqtikul
- Page 63 and 64: safondo birJa Tavisi wevrebis im zR
- Page 65 and 66: 2. birJis saqmianobis organizaciul-
- Page 67 and 68: irJis mmarTvel organos maT finansur
- Page 69 and 70: daniSnos da gaaTavisuflos birJis ge
- Page 71 and 72: wesebis da `fasiani qaRaldebis bazr
- Page 73 and 74: saerTaSoriso vaWrobaSi Suamavlebis
♦ organizaciis principis mixedviT birJebi sam saxeobad<br />
iyofa: sajaro-samarTlebrivi (saxelmwifo birJebi); kerZosamarTlebrivi<br />
(kerZo birJebi) da Sereuli birJebi.<br />
sajaro-samarTlebrivi birJebi Sesabamisi kanonis<br />
safuZvelze iqmneba da saxelmwifos mier kontroldeba. aseTi<br />
birJis wevri SeiZleba iyos nebismieri mewarme, romelic<br />
Setanilia birJis savaWro reestrSi da aqvs gansazRvruli<br />
odenobis brunva. birJis arawevri pirebi birJaze garigebis<br />
gasaformeblad mxolod erTjeradi bileTebiT daiSvebian.<br />
aseTi birJebi gavrcelebulia safrangeTSi, belgiasa da<br />
niderlandSi.<br />
kerZo-samarTlebrivi birJebi damaxasiaTebelia didi<br />
britaneTisa da aSS-saTvis. isini funqcionireben mxolod im<br />
viwro wris pirebisaTvis, romlebic <strong>sabirJo</strong> korporaciaSi<br />
Sedian. birJis wevroba SezRudulia. aseTi birJebi, rogorc<br />
wesi, sapaio sazogadoebebia. birJis wevri unda flobdes<br />
Tundac erT pais (wils) mainc anu igive sertifikats, romelic<br />
mas birJis SenobaSi garigebis gaformebis uflebas aZlevs.<br />
Sereuli birJebic kontinentur evropaSia gavrcelebuli.<br />
isini ufro safondo birJebis saxiT gvxvdeba. mag., venis<br />
safondo birJa. aseTi birJebisaTvis damaxasiaTebelia is, rom<br />
saxelmwifos xelSia birJis aqciebis nawili (Tu birJa<br />
Seqmnilia saaqcio sazogadoebis formiT), rac mis mflobels<br />
saSualebas aZlevs Tavisi warmomadgeneli hyavdes birJis<br />
marTvis aRmasrulebel organoebSi da am gziT gaakontrolos<br />
birJis saqmianoba.<br />
♦ organizaciul-samarTlebrivi formis mixedviT birJebi<br />
ZiriTadad arsebobs, rogorc saaqcio sazogadoebebi da<br />
SezRuduli pasuxismgeblobis amxanagobebi.<br />
<strong>sabirJo</strong> vaWrobis ganviTarebis kvalobaze birJebi,<br />
umetesad, arakomerciul profils irCeven. Sesabamisad amisa,<br />
organizaciul-samarTlebriv formasac icvlian. dReisaTvis,<br />
savaluto birJebi, ZiriTadad, saaqcio sazogadoebebad rCebian,<br />
sasaqonlo birJebi arakomerciul asociacias aniWeben upiratesobas,<br />
xolo safondo birJebi arakomerciuli partniorobis<br />
formaze ufro gadadian.<br />
♦ <strong>sabirJo</strong> vaWrobaSi damswreTa monawileobis mixedviT<br />
arsebobs Ria da daxuruli birJebi.<br />
Ria <strong>sabirJo</strong> vaWrobaSi birJebis mudmivi wevrebisa da<br />
Suamavlebis garda mayureblebic monawileoben. amasTan, Ria<br />
birJa ori tipisaa: `idealuri~ da Sereuli.<br />
24
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