Plastun V. Methodological bases of institutional investors’ activity in the stock market

This dissertation is devoted to development of theoretical and methodological foundations of the institutional investors (INSI) activities as financial intermediaries in the stock market (SM) with accounting for the specifics of their mutual influence. The essence of INSI as financial intermediaries was investigated. The classification of INSI was extended. Methodological tools to predict the dynamics of the SM were proposed. Conceptual principles of interdependence between INSI and SM were developed. Methodology for identifying causal relationships between development of INSI and SM was justified. The influence of INSI on the stability SM was defined. The system of criteria and limitations in the formation of investment strategy of INSI was formed. The methodical basis which takes into account the stage of economic development in the formation of the investment strategy of INSI was proposed. Criterial basis for portfolio optimization of INSI were improved. The model of investment portfolio optimization accounting for the influence of exogenous determinants of INSI’s investment strategy was developed. Methodical tools, which take into account the liquidity of financial assets and transaction costs in SM in portfolio management, were proposed. The complex measures for the SM and INSI reform in Ukraine were developed. The methodical approach to the regulation of the SM and INSI depending on the stage of the economic cycle was proposed.