Review article
ISSUING BONDS AS AN INSTRUMENT FOR OBTAINING FINANCIAL RESOURCES SERVING THE DEVELOPMENT AND IMPROVEMENT NEEDS OF A COMPANY
Alen Jugović
; University of Rijeka, Faculty of Maritime Studies Rijeka
Borna Debelić
; University of Rijeka, Faculty of Maritime Studies Rijeka
Slavko Lončar
; Jadrolinija d.d., Rijeka
Abstract
Maintaining business continuity and its development and improvement, demands financial resources which a company can obtain from internal or external sources. This paper deals with the analysis conducted to obtain financial resources from external sources for the development and promotion of a business company. The results thus obtained have then been tested onto the company Jadrolinija d.d. The methodology used includes the analysis and the comparison of different external sources of funds, where a particular attention has been paid to the issuing of bonds as an instrument for obtaining financial resources serving the development and promotion of the business company Jadrolinija d.d. The purpose of this scientific work is to make a comparison of the possible forms of external financing of the company Jadrolinija d.d., thus aiming at establishing a methodology that could be used by other companies when making a decision on financing a company from external sources. The results obtained indicate that financial resources obtained through issuing bonds, unlike other financing instruments, provide a higher uplift in the business efficiency and effectiveness boost, but on condition that it is long-term sustainable. The conclusions reached are also endorsed by world experiences which point to the fact that it is necessary to permanently develop strategic plans for a further development founded on a real market basis and on the possibilities of obtaining resources form external sources, but taking into consideration the peculiarities and regularities of a market..
Keywords
financing instruments; entrepreneurship; shipping; bonds; market; privatization; Jadrolinija d.d
Hrčak ID:
45456
URI
Publication date:
23.12.2009.
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