Project Description

Securities are documents certifying proprietary rights vested in their holders. Generally, they are divided into: dividend securities, i.e., shares (stocks), and interest-bearing securities – bonds, mortgage bonds (covered bonds), debentures, and bills of exchange.
The former provide variable income dependent on the annual economic performance of the issuing entity. Shares are classified as: common (ordinary) and preferred (with regard to voting rights, rights to assets, and dividends), individual and collective (pooled), and with various denominations (par values).
The second group of securities is characterized by a fixed return on borrowed capital. Bonds are divided into convertible and non-convertible, and, from the issuer's perspective, into: Treasury (government), municipal, and corporate bonds. The division of all securities into: registered (named) and bearer, and those traded on the stock exchange and those outside this trading, is common to both shares and bonds.
The first shares in history were issued in Amsterdam by the Dutch East India Company in 1606. The first Polish company to issue shares was the Woolen Manufactures Company (Kampania Manufaktur Wełnianych) in 1766.