By: Sayidah
Rohmah_11220023
The
capital market is a market that trades securities (buying and selling) in the form of financial instruments, both in the capital (equity) and debt. Needs of the financial system is that commercial banks and all intermediaries in financial management and securities short-term, primary, and not directly.
Usefulness of capital markets, among others:
a. Presents a resource mobilization mechanism that leads to an efficient allocation of resources in the economy
b. Provide liquidity in the market at the most convenient price, the lowest transaction costs or offer lower spreads on securities (stocks) are traded in the market
c. To ensure transparency in
the pricing of securities (shares) to determine the price of the risk premium (risk premia), which reflects a high level of risk that securities
d. Provide the opportunity to develop their portfolio terdeverensifikasi well and to reduce the level of risk
through diversification across geographical boundaries and across time
With the stock market, then companies will be easier to obtain funding so that economic activity in various sectors can be improved. The increased economic activity will create and develop a large employer, with a workforce itself can absorb large amounts so that it can directly effect in reducing the number of unemployed.
The role of the Minister of Finance is very important because as a government agency authorized to determine the relevant policies of financial institutions under the department. The policy was then followed up by Bapepam who has authority in the Capital Market. In addition, the role of the Capital Market Supervisory Agency (Bapepam) is also very important because it is a government agency that has the task of overseeing activities and conduct training Stock Exchange terhdap perpetrators and hold the stock exchange the stock exchange regulation in order to run well. Therefore, in order to process the stock trading in the stock market run smoothly and in accordance with the applicable regulations are both very important role.
Referensi:
Susanto
Burhanuddin. Pasar Modal Syariah Tinjauan
Hukum (Yogyakarta : UII Press). 2009.
Subagyo.
Bank Dan Lembaga Keuangan Lainnya
(Yogyakarta : Bagian Penerbitan Sekolah Tinggi Ilmu Ekonomi YKPN). 2005.
Iqbal
Zamir. Pengantar Keuangan Islam Teori Dan
Praktik (Jakarta : Kencana Prenada Media Group). 2008
