Oditor, Vol. III, No. 03/2017

Radovan Damnjanovic[5], Nina Ivanov[6], Nikola Milenkovic[7]

Date received: 10.10.2017
Date accepted: 11.11.2017

336.761.5 005.332:336.748.12
JEL: C20


The problem of determining the price of capital is the basic question that will be dealt with in this paper. In this regard, we also have to look at the role of securities as a financial instrument on the financial market, i.e. that the securities market consists of: the issuing or primary market and the secondary market of securities, where the turnover is already carried out issued securities.
The contribution of this paper is reflected in the creation of a comparative picture of the financial sustainability of the prices of long-term securities, primarily shares as the basic unit of equity capital that represents the largest part of the capital in the world.

Key words: model, long-term securities, company

[5Radovan Damnjanović, Ph.D., Assistant professor, Generalstaff of Ministry of Defense, Gardijska street no. 7, Belgrade, Serbia, E-mail: radovan.damnjanovic@gmail.com
[6Nina Ivanov, master’s student, University of Defense, Military Academy, Pavla Jurišića Šturma street no. 33, Belgrade, Serbia
[7Nikola Milenković Ph.D., Assistant Professor, School of Management and business studies, Karađorđeva street no. 52, Kragujevac, Serbia