Structural and socio-economic features of the stock market functioning in the information society

This article presents an analysis of the impact of the structural and socio-economic features of the stock market in the information society on various levels of social reality. The stock market as a socio-economic institution is a complex set of norms, rules, informal institutions and social practices related to the circulation of securities and the interaction of people in this regard. Since the stock market is the most powerful investment market, with millions of people participating in its activities, its functioning has a structure-forming effect on other markets and socio-economic processes in modern society. In modern conditions, the stock market performs an important function in relation to the socio-economic development of the country.

The possibility of using the stock market as a measure of socio-economic development is determined by its relative objectivity – the independence of its functioning from the will and desires of even very influential people and groups. This independence is due to the multidirectional interests of numerous stock market participants, the presence of a large number of non-professionals acting on the basis of emotional preferences and irrational intuition.

In the context of the information society, one of the stages of development of which is the modern electronic-digital society, the stock market has ceased to be a place of direct interaction between people, here people come into contact with machines and programs, and computers themselves constantly interact with each other. The use of ICT greatly facilitates the relationship of transaction partners, provides quick and easy access to information, and reduces transaction costs.

The author identifies and substantiates the basic trends in the development of the stock market in the information society: 1) democratization – facilitating entry to the stock market for millions of people due to the use of computer and telecommunication technologies; 2) active use of information and computer technologies and digitalization achievements – the ability to process ever–increasing information flows, conclude a huge number of transactions simultaneously, and use artificial intelligence to predict market development; 3) globalization – national stock markets are increasingly becoming elements of the global stock market, their interdependence is increasing, and at the same time the opacity of price rises and falls is increasing due to the fact that the causes of these processes are located tens of thousands of kilometers from the place of transaction.

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