Đang chuẩn bị liên kết để tải về tài liệu:
Principles for enhancing corporate governance

Không đóng trình duyệt đến khi xuất hiện nút TẢI XUỐNG Tải xuống

Upon the introduction of the new law on regulating public debt of the FRY aris- ing from citizens’ foreign exchange savings, the Republic of Serbia issued EUR 4176 bonds of series A on August 19, 2002. The trading volume in the first six months was around EUR 100 million. During that period the annual yields varied from 13% to 14% for short-term bonds, and from 8% to 15% for long–term bonds. As we will show later, the yield curve was inverted from the very beginning of trading, which could be explained by the additional use of bonds as a means of payment in the privatiza- tion process