Smaller
Bigger
Close Gallery
Santo Domingo. - Securities Superintendent Haivanjoe NG Cortiñas stressed the importance of resorting to the stock market to obtain funds because it contributes to the business sector’s financial innovation.
NG said local as well as foreign companies need only to take advantage of the Stock Market Law and its Regulation to access that financing.
The official said the stock market has more advantages than bank financing because the former has interests as low a 16 percent, whereas the latter’s can be as high as 22 percent.
Speaking in the Dominican-Brazilian Chamber of Commerce, NG said when companies register in the stock market it reveals professionalism, transparency and adherence to norms, not necessarily found in other sectors.
He said other advantages include that despite that at first seems limiting, companies benefit from the advantages of developing transparency to compete in today’s globalised world. Another advantage is that physical investors in stock market companies enjoy attractive tax exemptions.
The official also noted that in corporate law the statutes can be modified to adhere to the Public Tender Law, thus incorporating corporative governance into their statutes to attract shareholders and give them more participation in the decision-making process.
NG said these limitations become advantages for companies that go to the stock market seeking financing.
The Securities Superintendent said the companies that go to the stock market become more entrepreneurial because they undergo a financial innovation, allowing them to adopt an additional effort to improve their competitive position in their field, to make investments of increasing yield, and contribute to Dominican Republic’s economic growth with the creation of jobs and to ultimately renew their productive apparatus.
“This gathering is very positive because it causes closer ties between Dominican companies of Brazilian capital or those with links to trade relations with Brazil, allowing business between both nations to have a larger space for survival in this globalised world,” he said.
Facebook
Digg this
del.icio.us
Technorati
Yahoo
Stock Markets are nothing, but, state approved gambling. If that's not enough to discourage an informed citizen look at the "Global markets" and their astronomical losses; We must also take into consideration the myriad of scandals that have surfaced about what has been recently called "Corporate Greed". The Elites of this Brave New Wolrd Order will have you think that it's OK to invest your hard earned money in this Pyramid Scheme; Yet, all the latest revelations are enough to discourage any discerning individual not to take part or part with his money.
Brazil and DR, What strange bedfellows? Not since 1965 when the Brazilan Armed Forces "helped' during "the War", saw we such partnership.
From: United States, New York City
Arsenio you can look at todays losses, but be sure to include the five decades of progress and well-being which global stock markets have in part funded. Did speculation get out of hand? ...
the challenge for Dominicans is a matter of 'watching the watchmen' who preside over these activities to make sure they are promoting stability first and foremost and not encouraging speculation.
Manhattan:
All that's fine and good!
But who is going to do all this watching?
With this transparency approach all types of secular activities can be kept in check by simple survaillance. Brother, I don't think you realize what it is you are suggesting. Big Brother.
This is the way I see things; If people don't do things with an ethical principle it doesn't matter how much orversight, legislation or restrainst you impose. The modern business scene was founded on honor. And honor is not in demand today!
And by 'watch the watchmen' I mean no more than having an honest business press informing people on the fitness of regulators of the exchange and of firms in the exchange. Journalism is another sphere where honor needs to make a comeback. In any case this will not be like the US where even Joe Blow the grocer is in funds and shares, so the bar for transparency and protection is not as high...I imagine those investing in a DR stock exchange would be more sophisticated investors who can handle more risk.
Your points are clear and acknowledged.
Well, speaking of ethics and journalism;
Have you seen these?
http://www.dominicanwatchdog.org/#
or
http://knightcenter.utexas.edu/blog/?q=en/node/3345
Just thought you'd be edified by these links!
Here are more journalists who fear fo their lives:
http://knightcenter.utexas.edu/blog/?q=en/taxonomy/term/341
Best regards,
<a href="http://www.goldcoinsgain.com"> Gold </a>