31

Ushbu maqola, O‘zbekiston aksiyadorlik jamiyatlarining kapital qiymatini oshirishda yaxshi korporativ boshqaruvning ahamiyatini o‘rganadi. Maqolada, agentlik nazariyasi, manfaatdor tomonlar nazariyasi va resurslar bog‘liqligi nazariyalariga asoslanib, aksiyadorlik jamiyatlarida samarali boshqaruv metodologiyasini ishlab chiqish yondashuvlari ko‘rib chiqiladi. Tadqiqotda zamonaviy moliyaviy ko‘rsatkichlar, shu jumladan ROI (investitsiyalar rentabelligi), EVA (iqtisodiy qo‘shilgan qiymat) va ROE (o‘z kapital rentabelligi) orqali kapital qiymatining oshishi tahlil qilinadi. Maqolada o‘rtaga tashlangan nazariy va amaliy yondashuvlar O‘zbekiston sharoitida aksiyadorlik jamiyatlarining boshqaruv tizimlarini takomillashtirish va ularning bozor qiymatini oshirishga qaratilgan tavsiyalar bilan yakunlanadi.

  • O'qishlar soni 31
  • Nashr sanasi 31-01-2025
  • Asosiy tilO'zbek
  • Sahifalar194-202
Ўзбек

Ushbu maqola, O‘zbekiston aksiyadorlik jamiyatlarining kapital qiymatini oshirishda yaxshi korporativ boshqaruvning ahamiyatini o‘rganadi. Maqolada, agentlik nazariyasi, manfaatdor tomonlar nazariyasi va resurslar bog‘liqligi nazariyalariga asoslanib, aksiyadorlik jamiyatlarida samarali boshqaruv metodologiyasini ishlab chiqish yondashuvlari ko‘rib chiqiladi. Tadqiqotda zamonaviy moliyaviy ko‘rsatkichlar, shu jumladan ROI (investitsiyalar rentabelligi), EVA (iqtisodiy qo‘shilgan qiymat) va ROE (o‘z kapital rentabelligi) orqali kapital qiymatining oshishi tahlil qilinadi. Maqolada o‘rtaga tashlangan nazariy va amaliy yondashuvlar O‘zbekiston sharoitida aksiyadorlik jamiyatlarining boshqaruv tizimlarini takomillashtirish va ularning bozor qiymatini oshirishga qaratilgan tavsiyalar bilan yakunlanadi.

Русский

В данной статье рассматривается важность надлежащего корпоративного управления в повышении стоимости акционерного капитала узбекских акционерных обществ. В статье рассматриваются подходы к разработке эффективной методологии управления в акционерных обществах, основанные на теории агентских отношений, теории заинтересованных сторон и теории зависимости от ресурсов. В исследовании анализируется прирост капитала с использованием современных финансовых показателей, включая ROI (рентабельность инвестиций), EVA (экономическая добавленная стоимость) и ROE (рентабельность собственного капитала). Представленные в статье теоретические и практические подходы завершаются рекомендациями, направленными на совершенствование систем управления акционерными обществами и повышение их рыночной стоимости в условиях Узбекистана.

English

This article examines the importance of good corporate governance in increasing the capital value of Uzbek joint-stock companies. The article examines approaches to developing an effective management methodology in joint-stock companies based on agency theory, stakeholder theory, and resource dependency theories. The study analyzes the increase in capital value through modern financial indicators, including ROI (return on investment), EVA (economic value added), and ROE (return on equity). The theoretical and practical approaches presented in the article conclude with recommendations aimed at improving the management systems of joint stock companies in the conditions of Uzbekistan and increasing their market value.

Muallifning F.I.Sh. Lavozimi Tashkilot nomi
1 Urinov B.N. - Toshkent Davlat iqtisodiyot universiteti
Havola nomi
1 Bebchuk, L. A., & Weisbach, M. S. (2010). The State of Corporate Governance Research. Review of Financial Studies, 23(3), 939–961.
2 Cadbury, A. (1992). The Financial Aspects of Corporate Governance. Cadbury Report. London: Gee and Co. Ltd.
3 Charkham, J. P. (2005). Keeping Better Company: Corporate Governance Ten Years On. Oxford University Press.
4 Drucker, P. F. (2007). Management: Tasks, Responsibilities, Practices. Harper Business.
5 Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Cambridge University Press.
6 Hillman, A. J., & Dalziel, T. (2003). Boards of Directors and Firm Performance: Integrating Agency and Resource Dependence Perspectives. Academy of Management Review, 28(3), 383–396.
7 Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure. Journal of Financial Economics, 3(4), 305–360.
8 King Report. (2009). King Code of Governance for South Africa 2009. Institute of Directors in Southern Africa.
9 Klapper, L. F., & Love, I. (2004). Corporate Governance, Investor Protection, and Performance in Emerging Markets. Journal of Corporate Finance, 10(5), 703–728.
10 Larcker, D. F., & Tayan, B. (2011). Corporate Governance Matters: A Closer Look at Organizational Choices and Their Consequences. Pearson FT Press.
11 OECD. (2015). G20/OECD Principles of Corporate Governance. Organisation for Economic Co-operation and Development.
12 Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. The Journal of Finance, 52(2), 737–783.
13 Uzbekistan Corporate Governance Code. (2016). Approved by the Ministry of Justice of the Republic of Uzbekistan.
14 Uzbekistan Presidential Decree. (2019). Measures for Further Improvement of Corporate Governance in Uzbekistan. Decree No. UP-5886.
15 Uzbekistan State Statistics Committee. (2023). Annual Economic Performance Reports. Available at: www.stat.uz.
16 World Bank. (2023). Doing Business Report: Uzbekistan. World Bank Group.
Kutilmoqda