This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Univerzitet za poslovni inženjering i menadžment Banja Luka , Banja Luka , Bosnia and Herzegovina
The aim of this study is to investigate interdependent and the role of innovation on the capital markets and possible implications to the development of Bosnia and Herzegovina. The capital market is a place where appear the mass investors who want to satisfy their different interests. They will invest in instruments that meet their interests and which allow them a assortment. On the other side of the issuers of instruments on the capital markets want to maximize their objectives. If is the capital market are richer with instruments the opportunity of chooses and investments are bigger. The innovations on the financial market create new opportunities and relations and allow investors greater choice and issuers to achieve different goals. The innovations that carry additional options allow the implementation of targeted economic development policy. Countries in transition, by creating different instruments, have possibility to achieve several goals at the same time. In this paper, a case of "buy back" bond develops ideas to achieve multiple objectives. "Buy buck" bonds as a new instrument in the capital market in Bosnia and Herzegovina, presenting an innovation that can be an effective instrument for the development of capital markets, the gradual implementation of privatization in strategic sectors, adaptation to new sources of capital and sufficient security for investors in securities. The application and combination of scientific methods of analysis and synthesis, quantitative and comparative methods and the methods of description and compilation, confirmed the hypothesis: that innovation in the capital market comes to strengthening the capital markets and create conditions for faster economic development.
The statements, opinions and data contained in the journal are solely those of the individual authors and contributors and not of the publisher and the editor(s). We stay neutral with regard to jurisdictional claims in published maps and institutional affiliations.
