Kovalko N. Debt securities as the objects of public financial activity.

Presented dissertation is devoted to the comprehensive analysis of state and local securities as the objects of public financial activity. Outlined agenda enabled the author to substantiate qualitatively new scientific provisions and frame proposals defining the issues involved. A new conceptual approach to the definition of state and local securities as the objects of public financial activity, as well as the objects of financial and legal regulation was formulated. Particular attention is drawn to the issues of state regulation of the securities market in the financial and legal aspect. Particular part of dissertation is grounded on the arguments that the lack of protection of investor’s rights and the inadequate level of management lead to a decrease in the quality of the main types of securities and to a decrease in securities purchasing. The stock market lacks those instruments that would increase liquidity, increase the profitability of investment activities, reduce the risks of such activities and guarantee the protection of the market participants’ rights.