Investicijų valdymas globalizacijos kontekste
Globalization in the World Stock Market: the Context of Lithuania

Summary/Abstract: The pension system reform, low interest rates, foreign direct investment in Lithuanian banks encouraged Lithuania’s citizens to use modern saving instruments – investment in securities. Of late years it is a conspicuous increase of the investment in stocks, investment funds and other investment products. Observing the recent world security market the question emerges - is it possible to diversify investment by investing in different countries, markets correlate, how global are the world security markets and how it influences the Lithuanian stock market and the decisions of Lithuanian resident investment. The paper examines globalization in the world stock market, its development, influence on the security return and the investment decisions of Lithuanian investors. The authors are targeting to evaluate the level of globalization in the world security market and its influence on the Lithuanian stock market and the decisions of Lithuanian investors. The aim of the paper is to evaluate the level of globalization in the world security market and its nature analyzing the scope of the inquired problem decisions of Lithuanian investors. The object of the research - the changes in the investment behavior of Lithuanian investors in the first part of the paper refers to scientific light context of the global security market influence on the Lithuanian stock market. The results of the correlation analysis show that the research – the changes of investment decisions stock return in the world correlates absolutely positively, because the correlations among the analyzed indexes are all positive. The correlation between the main world stock indexes and Vilnius Security Exchange index OMX Vilnius index is calculated. The third part of the paper presents the empirical research of the main problem. The authors highlight the investor’s poll and the accomplished empirical research of statistical data. The results of the empirical analysis reveals that Lithuanian investors make the investment decisions referring to the tendencies in the global security market and globalization in the world stock market that influence the Lithuanian stock market as well.

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