Conference Paper

The capital presents one of the development factors of the national economy. Considering its limitations, however, permanent efforts have been made, both in theory and practice, to find new ways (instruments) to provide capital needed for achieving the developmental goals of the corporations, and indirectly, of the national economy. Thus, various types of securities have emerged as a source of capital, on the one hand, and as an investment instrument, on the other, by which the corporations make fructification of a part of their capital by investing in other corporations, national- and international-wide. Taking into account the complex nature of the securities, the capital fructification by investing in certain security portfolio requires extensive analysis in order to determine the optimal ratio between return and risk, two major components in the process of analysis and estimation of the efficacy of such investments.