Chapter 1

ehtuGVIsikSaBIluy
FnaKar
nigbNþaTIpSarhirBaØvt
ßú? PreparedBy:
Prepared

HP:
By:KEO

0972299
9999
KEOVEASNA

9994,
VEASNA(PhD

94,017
01737
3707
(PhDCandidate)
E-mail:veasna016555633@yahoo.com
E-mail:
HP:097 0737,
Candidate)
veasna016555633@yahoo.com
37,016
01655
5556
5633
33

Human Resources University

McGraw-Hill/Irwin Money
Copyright © 2006 by The McGraw-Hill Companies, and
Inc. All Banking
rights reserved.
• niymn½yGMBI luy FnaKar nig
emeronTI 1 ³ ehtuGVIsikSaBI luy FnaKar
TIpSarhirBaØvtßú.
nigbNþaTIpSarhirBaØvtßú?
•

bgðajGMBIdMeNIrkarRtYtBinitüelIbNþa
TIpSarhirBaØvtßú rYmman TIpSar
sBaØab½NÑ PaKh‘un rUbiyb½NÑbreTs
nig bNþasßab½nhirBaØvtßúdéTeTot
dUcCa FnaKar Rkumh‘un Fanar:ab;rg
sgÁhFn (Mutual Funds) nig
bNþasßab½nepSg²eTot.
• \T§iBlénTIpSarhirBaØvtßú
1-2
RtUv)anekNÐRbmUlBIbNþaGñkEdl
³ ehtuGVIsikSaBIluy TIpSarhirBaØvtßú?
ImanelIsBItRmUvkareRbIR)as;

eTAeGayGñkEdlRtUvkarnUv mUlniFi
edIm,IeRbIR)as;.

TIpSarhirBaØvtßú rYmman ³
TIpSarsBaØab½NÑ (Bond) TIpSarPaKh‘un
(Stock) nig mUlb½Rt epSg²eTot (Other security)

Edlmansar³sMxan;kñúgkar clnaTun
BIGñkEdlmanTun
mineRbIR)as;sRmab;plitkmµ
1-3
Ca]bkrN_hirBaØvtßúmYyEdl CaTUeTA
vaTamTarykmYycMENkBI cMeNj
1> TIpSarsBaØab½NÑ nigGRtakarR)ak;
naeBlGnaKtrbs;GñkecjpSaylk; b¤k¾
RTBüskmµ ¬ral;karTamTarEpñk
hirBaØvtßú b¤ EpñkénRTBüsm,tþi
EdlnwgGacCakmµsiT§i¦.
sBaØab½NÑ (Bond)
KWCamUlb½RtbMNulEdlsnüaeFVIkarT
UTat;sgeTAtamkMlugeBl kMNt;mYy.
TIpSarsBaØab½NÑ
mansar³sMxan;CaBiesscMeBaHskmµPaB
1-4
¬GRtakarR)ak; KitCaPaKrykñúg 1qñaM¦.
GRtakarR)ak;maneRcInRbePT dUcCa
1> TIpSarsBaØab½NÑ nigGRtakarR)ak;
GaRtakarR)ak;km©Iedaymanrbs;bBa©a
M GRtakarR)ak;km©ITijrfynþ
nigGRtakarR)ak;
RbePTepS²eToténsBaØab½NÑ.
GRtakarR)ak;
mankarERbRbYly:agxøaMgkñúgesdækic
©BiPBelak ]TahrN_ GRtakarR)ak;
elIb½NÑrtnaKarry³kalkMNt; 3Ex
mankRmitx<s;Cag 16% kñúgqñaM 1981. 1-5
1> TIpSarsBaØab½NÑ nigGRtakarR)ak;

rUbTI 1 ³ GRtakarR)ak;elIsBaØab½NÑ
(1950 - 2005)

1-6
nigRTBskmµrbs;sarCIvkmµ. karecjpSay
2> TIpSarPaKh‘un
lk;PaKh‘uneTAkan;saFarN³Cn
CameFüa)aymYy
edIm,I[sarCIvkmµbegáInmUlniFi
sRmab;eRbIR)as;
kñúgskmµPaBRbtibtþikarRkumh‘un.
PaKh‘un RtUv)aneKeFVIBaNiC¢kmµ
enAelITIpSarhirBaØvtßú.
karERbRbYléføPaKh‘unenAelITIpSarPa
Kh‘un CaTUeTA RtUv)ancuH
pSayenAelITMB½rkarEsteBll¶ac. rUbTI
1-7
2> TIpSarPaKh‘un
rUbTI 2 ³ éføPaKh‘unvas;edaysarCIvkmµ
Dow Jones KitCamFüm (1950 - 2005)

1-8
BYkeKRtUvbþÚrBIrUbiyb½NÑénRbeTs
edIm dUcCa duløar
3> TIpSarrUbiyb½NÑbreTs
eTACarUbiyb½NÑénRbeTsEdlBYkeKk
MBugeTA dUcCa RhVg; CaedIm.
TIpSarrUbiyb½NÑbreTs
KWCakEnøgEdldMeNIrkarbþÚrekIteLIg
dUecñH vaCa]TahrN_edIm,I bBa
¢ÚnluyBIRbeTsmYyeTAkan;RbeTsmYye
pSgeTot. rUbTI 3 bgðajBIGRtabþÚrR)ak;
cMeBaHduløar BIqñaM 1970 dl; 2005 .
tamrUbbgðajfa duløarcuHtémøxøaMg BI
qñaM 1971 dl; 1973 ehIyekIneLIgvijrhUt
1-9
3> TIpSarrUbiyb½NÑbreTs

rUbTI 3 ³ GRtabþÚrR)ak;énduløar U.S (1970 -

2005)

1-10
FnaKar nigbNþasßab½nhirBaØvtßú
KWCaktþaEdleFVI[TIpSarhirBaØvtßúGa
II ³ ehtuGVI)anCasikSaBIFnaKar
cdMeNIrkar)an. RbsinebIKµanFnaKar
nigbNþasßab½nhirBaØvtßú?
nigsßab½nhirBaØvtßúeTenaH
TIpSarhirBaØvtßúk¾
minGacdMeNIrkar)an Edr BieRBaH
TIpSarhirBaØvtßúnwgminGacepÞrfvikaB
IGñksnSM eTAkan;GñkEdlman»kas
vinieyaKeT. dUecñH
va)anCH\T§iBlpgEdreTAelIskmµPaBénes
dækic©TaMgmUl.
1-11
hirBaØvtßú EpñkÉkCnCaeRcIn dUcCa
1> TMrg;énRbB½n§hirBaØvtßú
FnaKar Rkumh‘unFanar:ab;rg sgÁhFn.l.
bNþasßab½n hirBaØvtßúTaMgGs;enH
RtUv)anRtYtBinitüy:aghµt;ct;bMputBIs
MNak;rdæaPi)al. ]TahrN_
RbsinebIbuKÁlmñak;cg;pþl;km©Idl;
Rkumh‘unksikmµ
Kat;mincaM)ac;eTATMnak;TMngCamYy
nwgRbFanRkumh‘unksikmµedaypÞal;eT.
Kat;Gacpþl;km©IenHedayviFIRbeyal tam
ry³GnþrkarIhirBaØvtßú
1-12
bNþaFnaKarrYmman ³ FnaKarCati
FnaKaBaNiC¢kmµ FnaKarÉkeTs .l.
2> FnaKar nigbNþasßab½nhirBaØvtßú
mnusSPaKeRcIn
EdlRtUvkarkm©IedIm,ITijpÞH b¤ rfynþ
CaFmµta BYkeKEtgEteTA rkFnaKar.
mü:agvijeTot mnusS
EdlmanRbPBmUlniFielIstRmUvkar
BYkeK)anrkSa
TukmYyEpñkFMénRTBüsm,tþirbs;BYke
KenAkñúgFnaKarkñúgTMrg;CaKNnIKµa
nkalkMNt; KNnIsnSM b¤k¾
RbePTbeBaØIepSg² . eRkABIFnaKar 1-13
Øvtßúnana. BImun
3> nvanuvtþn_hirBaØvtßú
RbsinebIGñkcg;dkR)ak;BIFnaKar b¤
cg;RtYtBinitüemIlsmtulüKNnIrbs;Gñk
GñkRtUv
EtTMnak;TMngeTAkan;buKÁlikenAkñú
gFnaKar. b:uEnþ bc©úb,nñenH
GñkGaceRbIR)as;m:asIun
dkR)ak;sV½yRbvtþi (Automatics Teller Machine = ATM)
ehIyGñkGacTTYl)anTinñ
n½yGMBIsmtulüKNnIrbs;GñkPøam²
tamry³m:asIun ATM enH.
1-14
 ³ ehtuGVI)anCasikSaGMBI luy
III

nigeKalneya)ayrUbiyvtßú?
luy RtUv)aneK[niymn½yfa ]
bkrN_hirBaØvtßúsRmab;TUTat;cMeBaH
TMnij esvakmµ b¤ TUTat;sgbMNul.
vaCameFüa)ayTUTat;d¾sMxan;bMputsR
mab;RKb;RbePTGgÁPaBTaMg Lay.
1> luy 4nigxYbGaCIvkmµ
rUbTI xageRkam
nwgbgðajGMBIkarERbRbYlénGRtakMe
NInluyenAkñúgRbeTsGaemrik
kñúgcenøaHqñaM 1950 dl; qñaM 2005.
1-15
1> luy nigxYbGaCIvkmµ
rUbTI 4 ³ kMeNInluy
nigxYbGaCIvkmµkñúgRbeTsGaemrik (1950
- 2005)

1-16
GRtaGñkGt;kargareFVI)anekIneLIgCag
1> luy nigxYbGaCIvkmµ bnÞab;BIqñaM
10% énkMlaMgBlkmµsrub.
1982

esdækic©cab;epþImrIkcMerIny:agqab;rh
½s ehIyenARtwmqñaM 1989 GRtaGt;kargar
eFVIRtUv)anFøak;cuHmkenARtwm 5%.
enAqñaM 1990
KWeRkayBIkarrIkcMerIncMnYn 8 qñaM
RtUv )anbBa©b;
ehIyGRtaGt;kargareFVI)anekIneLIgelIsk
Rmit 7%. kMeNInesdækic©)an
Føak;cuHrhUtdl;cMNuc sUnü enAqñaM 1-17
1> luy nigxYbGaCIvkmµ
ehIyesdækic©)anekIneLIgsarCafµIkñúgE
xeyIgsegÁteXIjfa
vicäika qñaM 2001
CamYynwgGRtaGt;kargareFVI
enAeBlEdlesdækic©Føak;cuH
Føak;cuHeRkam 5% .
GRtaGt;kargareFVIx<s; ehIyenAeBl
Edlesdækic©egIbeLIg
GRtaGt;kargareFVITab. ktþaenH
CaPsþútabgðaj[eXIjfa
luy)anedIrtYy:agsMxan;enAkñúgxYbGaC
Ivkmµ. 1-18
kñúgcenøaHqñaM 1950 - 2005
EdléføénmuxTMnijbc©úb,nñmankarekIne
2> luy nigGtiprNa
LIgxøaMg ebIeFobeTAnwgBImun.
mFüméfø énTMnij
nigesvakmµenAkñúgesdækic©RtUv)aneK
ehAfa kRmitéføsrub (Aggregate price level).
BIqñaM 1950 dl;qñaM 2005
kRmitéfø)anekIneLIgeRcInCag cMnYn 6
dg. rUbTI 5 bgðajGMBIkRmitéfø nig
karpÁt;pÁg;luy
EdlCaTUeTAERbRbYlRsbeTACamYyK
ñay:agCit sñit. tamrUbbgðaj[eXIjfa 1-19
2> luy nigGtiprNa
rUbTI 5 ³ kRmitéføsrub
nigkarpÁt;pÁg;luykñúgRbeTsGaemrik (1950
- 2005)

1-20
¢manrvagGRtaGtiprNa
2> luy nigGtiprNa
nigkMeNInluypÁt;pÁg;.
RbeTsEdlmanGtiprNax<s;
KWCaRbeTsEdlmanGRtakMeNInluyx<s;
Edr dUcCa eRbsIul eb:rU
nigGahSg;TInCaedIm
EdlkñúgkMlugeBlEdlCYbRbTHnUvGtipr
Nax<s; GRtakMeNInluyrbs;BYkeKx<s;.
pÞúyeTAvij RbeTs sVIs GaLWm:g;
manGtiprNaTab
ehIyGRtakMeNInluyrbs;BYkeKTabpgEdr
1-21
2> luy nigGtiprNa
rUbTI 6 ³ GRtaGtiprNamFüm
nigGRtakMeNInluyRbeTsmYycMnYn (1995
- 2004)

1-22
anedIrtYy:agsMxan;pgEdrenAkñúgkarER
bRbYlGRtakarR)ak; EdlGñkeFVI
3> luy nigGRtakarR)ak;
GaCIvkmµ
nigGñkeRbIR)as;luyykcitþTukdak;y:agxø
aMg.

rUbTI 7
bgðajGMBIkarERbRbYlGRtakarR)ak;elIs
BaØab½NÑrtnaKar nigGRtakMeNInluy .
enAeBlGaRtakMeNInluyekIneLIg
enAkñúgTsvtS 1960s nig 1970s GRtakarR)ak;
elIsBaØab½NÑry³kalEvgekIneLIg. 1-23
3> luy nigGRtakarR)ak;
rUbTI 7 ³ kMeNInluy nigGRtakarR)ak;
sBaØab½NÑrtnaKar (1950 - 2005)

1-24
edaysarluy
4> karGnuvtþn_eKalneya)ayrUbiyvtßú
GacCH\T§iBlelIGefresdækic©CaeRcIn
naM[Gñkneya)ay nigGñkeFVI
eKalneya)ayEtgEtykcitþTukdak;GMBIkar
Gnuvtþn_eKalneya)ayrUbiyvtßú
RKb;RKg luy nigGRtakarR)ak;.
GgÁPaBEdlTTYlxusRtUvGnuvtþn_eKaln
eya)ayrUbiyvtßúrbs; RbeTsCati KW
FnaKarkNþal.

1-25
»nPaBfvika KWsMedAelIcMNay elIs
5> »nPaBfvika nigeKalneya)ayrUbiyvtßú
cMNUlrbs;rdæaPi)alkñúgry³eBlkMNt;mY
y EdlCaTUeTA mYyqñaM.
rdæaPi)alRtUvTUTat;ral;»nPaBfvikatamr
y³karx©I b¤ CMnYy.

rUbTI 8 bgðajBI»nPaBfvika
EdlTak;TgeTAnwgTMhMénesdækic©rbs;
Gaemrikx<s;bMput enAqñaM 1983 KWRtg;
6% énTinñplCati b¤ 6%

énplitplkñúgRsuksrub (Gross Domestic Product – GDP).

1-26
5> »nPaBfvika nigeKalneya)ayrUbiyvtßú
rUbTI 8 ³ »nPaB b¤ Gtierkfvika
rdæaPi)alGaemrikCaPaKryén GDP (1995 - 2005)

1-27
 Chapter 1
cb;emeron
PreparedBy:
Prepared By:KEO
KEOVEASNA
VEASNA(PhD
(PhDCandidate)
Candidate)
E-mail:veasna016555633@yahoo.com
E-mail: veasna016555633@yahoo.com
HP:0972
HP: 0972999999
9994,
94,017
01737
3707
0737,
37,016
01655
5556
5633
33

Human Resources University

McGraw-Hill/Irwin Financial
Copyright © 2006 by The McGraw-Hill Companies, Inc. All Accounting
rights reserved.
 sMNYr eFVIenApÞH
1> enAeBlEdl
GRtakMeNInluymankarFøak;cuH
etIGñksgÇwmfanwgmanGVIekIteLIg
2> enAeBlEdlGRtakarR)ak;Føak;cuH
cMeBaH ³ TinñplBitR)akd/
etIGñkpøas;bþÚr\riyabfesdækic©rbs;
3> enAeBlEdlGRtakarR)ak;ekIneLIg
GRtaGtiprNa nig GRtakarR)ak;?
GñkdUcemþc?
4> etImnusSRKb;rUbTTYlrgnUv\T§iBlG
aRkk;b¤eT?
etIskmµPaBCamUldæanrbs;FnaKarma
5> etITIpSarhirBaØvtßú
nGVIxøH?
mansar³sMxan;GVIxøH
cMeBaHvis½yesdækic©?
 sMNYr eFVIenApÞH
6> etIktþaGVIxøH
7> etIktþaGVIxøH
EdleFVI[éføPaKh‘unFøak;cuHenAelI
EdleFVI[éføPaKh‘unekIneLIgenAelIk
karvinieyaKGaCIvkmµ?
8> etInvanuvtþn_hirBaØvtßúbc©úb,nñ
arseRmccitþcMNayrbs;
manplb:HBal;edaypÞal;cMeBaHxøÜn
GñkeRbIR)as;?
Gñkb¤eT? etIvaeFVI
[gayRsYlCagmun b¤k¾
lM)akCamux? ehtuGVI?

1-30