LEGAL MODELS FOR THE REGULATION OF HYBRID FINANCING IN VARIOUS JURISDICTIONS

Authors

  • Rakhmatov Azizbek Iskandar ugli Автор

DOI:

https://doi.org/10.5281/zenodo.17311973

Abstract

The development of entrepreneurial activity is primarily determined by the availability of adequate financing sources. Financing is the process of attracting monetary funds necessary for entities to start, expand, and modernize their operations. Conventional financing methods, particularly bank loans and equity issuance (capital financing), have long served as the main pillars of economic development. However, each method has inherent limitations: bank loans are restricted by high interest rates and stringent collateral requirements, while equity financing (such as an Initial Public Offering—IPO) demands complex legal procedures and high costs. 

 

References

1. Martin Maximilian, Building impact businesses through hybrid financing: special impact starter edition. Impact economy working papers, Volume 6, Geneva 2014.

2. R. H. Thomas, Hybrid securities and regulatory ambiguity, The journal of law and economics, 2010. pp. 54-56

3. Richard A. Epstein, The dangers of investor protection in securities markets, Texas Review of Law & Politics 412, 2007.

4. Debt or equity: how the classification of hybrid securities can turn a good company bad. Available at: https://www.monitordaily.com/article/debt-equity-classification-hybrid-securitie/

5. J.Tirol, Teoriya korporativnix finansov, s angl. pod nauch. red. N.A. Rannevoy. M.: Izdatelskiy dom “Delo”, 2017. s. 121–124.

6. Lorenzo Sasso. Capital structure and corporate governance: the role of hybrid financial instruments: A thesis submitted to the Department of Law of the London School of Economics and Political Science for the degree of Doctor of Philosophy. 2012. p. 4.

7. T. G. Bondarenko, O. A. Jdanova, Finansovoe obespechenie ekonomicheskix subyektov rossiyskogo agropromishlennovo kompleksa: monografiya. M.: RUSAYNS, 2019. 126 s.

8. How to structure early-stage startup fundraising (SAFE/Convertible Note vs. investment agreements). Available at: https://www.legalnodes.com/article/safe-convertible-note-investment-agreement

9. L.John Coates, Contingent convertibles in legal and regulatory context, Harvard Law Review, 2013. pp. 109-111

10. Andrew Guzman, The Contingent convertible securities and the bail-in question, The Journal of Financial Regulation, 2015. pp. 35-38

11. Xinhua Huang, Design and pricing of contingent convertible bonds, Journal of Banking & Finance, 2017.

12. Dr. Johannes Rüberg and others. Convertible loans for tech companies, Orrick, Herrington & Sutcliffe LLP, 2019. pp 55-62.

13. Form requirements for convertible loans in germany. Available at: https://www.twobirds.com/en/insights/2023/germany/formerfordernisse-bei-wandeldarlehen

14. National Instrument 45-106 Prospectus Exemptions, Available at: https://www.osc.ca/en/securities-law/instruments-rules-policies/4/45-106

15. Gülenay Kavcar and Çağla Yargıç, Convertible note agreements in Turkish law, DECEMBER 21, 2023. Available at: https://kilinclaw.com.tr/en/convertible-note-agreements/

16. V. N. Usosky, Decree of the President of the Republic of Belarus No. 8 “On the Development of the Digital Economy” and the Experience of cryptocurrency fintech in Belarus. Russia: development trends and prospects, 2022. 298-299.

Downloads

Published

2025-10-10

How to Cite

Rakhmatov, A. (2025). LEGAL MODELS FOR THE REGULATION OF HYBRID FINANCING IN VARIOUS JURISDICTIONS. International Conference on Science, Education & Law, 1(1), 72-77. https://doi.org/10.5281/zenodo.17311973