European Journal of Economics, Finance and Business Development
European Journal of Economics, Finance and Business Development is a scholarly peer reviewed international multidisciplinary Journal. The journal implements double blind peer review for articles. The research manuscript have to pass through the plagiarism check before allotted to the reviewers. The open access journal ensure the quality of published articles. The journal includes wide range of research articles in multidisciplinary areas of Economics, Finance and Business Development. The original review, research, literature, short note, book reviews are welcome to publish in this journal Important information of the Journal: Frequency: 12 issues per Year International License: CC BY Acceptance Status : 1-2 weeks Publication Period : 1-2 weeks ISSN (E): 2938-3633 SJIF 2024: 5.099 Journal Abbreviation: Eur. j. econ. financ. bussiness dev. The scope of the journal is not limited to- Economics Business Development Business Planning Finance Social Work Forensic Science Fashion, Textiles and Luxury Goods Emergency & Disaster Management Food Sciences Museum Studies Real Estate & Property Management
ENGINEERING ECONOMICS OF GREEN INFRASTRUCTURE INVESTMENT
The article explores the transformation of engineering economics in the era of the global energy transition. It argues that traditional cost–benefit analysis is no longer sufficient to evaluate large-scale infrastructure projects under conditions of technological change, policy uncertainty, and environmental constraints. Based on recent data from the International Energy Agency (IEA), International Renewable Energy Agency, IMF, OECD, and UNEP, the study shows that clean-energy investment has become the dominant form of capital allocation worldwide. It concludes that engineering economics now functions as a governance tool—linking micro-level investment decisions to long-term sustainability and resilience goals.
Engineering economics; green infrastructure; clean energy investment; life-cycle cost analysis; discount rate; risk assessment; sustainability; renewable energy; innovation finance; energy transition.
Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
FINANCING THE POPULATION THROUGH THE SOCIAL INSURANCE SYSTEM
Economic-statistical analyzes of each type of social insurance, the results of the software for the appointment and payment of pensions and allowances have been studied. The increase in the number of recipients of social benefits and the amount of material assistance provided to low-income families, as well as their financial sources, was mentioned in our country. For the implementation of the social insurance system, a certain amount of financial resources will be needed. Therefore, social funds are an integral part of any economic mechanism. It is known that in order to protect the needy sections of the population, there is a need to redistribute income in a certain order. The financial means of such redistribution is through social funds. Social funds, in turn, can be state or non-state. The ratio between the forms of social savings depends on many factors, first of all, on the national model of economic development.
Social insurance, pensions and benefits, social benefits, financial assistance to low-income families, compulsory health insurance, unemployment benefit, one-time benefits, types of social services, social protection system.
FOREIGN EXPERIENCE IN DEVELOPING HUMAN CAPITAL AND FINANCIAL LITERACY AND ITS POTENTIAL USE IN UZBEKISTAN
This article explores foreign experience in developing human capital and financial literacy, focusing on successful international practices and their applicability to Uzbekistan. It analyzes key strategies implemented globally to enhance workforce skills and improve public understanding of financial matters. The article considers the socio-economic context of Uzbekistan and discusses how these foreign approaches could be adapted to promote sustainable economic growth and social well-being through improved education and financial awareness.
Human capital, financial literacy, foreign experience, education, economic development, Uzbekistan, workforce skills, financial education.
STATUS AND ANALYSIS OF RISK DIVERSIFICATION IN COMMERCIAL BANKS
The article examines the state and analysis of risk diversification in commercial banks, the main directions of risk diversification in commercial banks at the macroeconomic and microeconomic levels, the possibilities of reducing economic risk associated with risks in banks and preventing financial losses, and the application of the experience of foreign countries in our country.
Commercial banks, risks, macro and microeconomic level, monetary policy, bank credit, risk management, risk diversification, bank loan portfolio.
IMPLEMENTATION OF MODERN MANAGEMENT METHODS AND TECHNOLOGIES
The article addresses the implementation of modern management practices and technologies in various industries. The paper examines how new approaches such as digitalization, agile management, and data-driven decision-making enhance organizational performance, adaptability, and competitiveness. The article presents real-world examples and integration issues, proposing recommendations for successful adoption and sustainable development.
Modern management, digital technologies, agile methodologies, data-driven management, organizational effectiveness, innovation.
THE ROLE OF DIGITAL TECHNOLOGIES IN ENSURING THE STABILITY OF BANK DEPOSITS IN COMMERCIAL BANKS
In the context of increasing digital transformation in the banking sector, the stability of bank deposits has become a key indicator of financial resilience and customer confidence. This article explores the role of digital technologies in enhancing the stability and sustainability of deposit operations in commercial banks. The study emphasizes the integration of artificial intelligence, big data analytics, and digital ecosystems in optimizing deposit portfolio management, predicting customer behavior and reducing liquidity risks. By employing a comparative analysis of international and national banking practices, the research identifies how digital tools such as mobile banking platforms, personalized deposit products and automated risk assessment systems contribute to deposit growth and retention. Moreover, the paper presents a conceptual model that links digital innovation with deposit stability through improved operational efficiency, transparency and trust in digital financial services. The findings suggest that the adoption of advanced digital solutions not only strengthens deposit base stability but also supports the competitiveness and long-term sustainability of commercial banks in a rapidly evolving financial environment.
Digital economy, commercial banks, financial resources, sustainability, digital technologies, innovative products, digital platform, cybersecurity, information technologies, branchless banking, ISO/IEC 27001, legislative framework, cross-border financial transactions, financial literacy, mobile banking services.
TAX POLICY IN THE DIGITAL ECONOMY IN THE REPUBLIC OF UZBEKISTAN AND ITS IMPACT ON THE MECHANISM OF INDIRECT TAXES
This article examines the impact of tax policies implemented in the tax sector in the context of the digital economy on the mechanisms for accounting for indirect taxes in the tax system.
Digital economy, tax system, tax control, tax administration, indirect taxes, electronic and digital taxation
THE ROLE OF AGRICULTURE IN ENSURING FOOD SECURITY
This article explores the role of agriculture in ensuring global food security. It analyzes the key features of world agriculture and discusses possible solutions to current challenges in food production and distribution.
Agriculture, food security, food products, production technologies.
EDUCATION SYSTEM, HUMAN CAPITAL AND ECONOMIC DEVELOPMENT
The article covers the issues of improving the knowledge and professional level of training of personnel for small businesses engaged in innovative activities, assessment of the education system, a systematic approach to improving the quality of education, the role of the education market in improving the quality of the education system, the use of the capabilities of the non-state education system in improving the quality of education and developed recommendations for improving the quality of education in Uzbekistan.
Small business, professional level, innovative activities, education system, bachelor, master's degree, strategic plan, human capital, education market, organization of higher education.
REDUCING THE BURDEN ON THE STATE BUDGET AND ATTRACTING PRIVATE SECTOR FUNDS IN THE FINANCING OF FORESTRY IN UZBEKISTAN
This article explores ways to reduce the fiscal burden on Uzbekistan’s state budget in financing forestry by attracting private sector funds. Based on international experience and local analysis, the paper proposes blended financing models and incentive mechanisms to improve financial sustainability in the sector.
Forestry finance, public-private partnership, green bonds, carbon credits, fiscal sustainability, Uzbekistan, ecosystem services.
COMPARATIVE ANALYSIS OF ESG REPORTING STANDARDS IN CENTRAL ASIA: CHALLENGES AND OPPORTUNITIES FOR HARMONIZATION
Environmental, Social, and Governance (ESG) reporting is increasingly important for attracting investment and demonstrating corporate responsibility. This paper conducts a comparative analysis of the current state of ESG reporting standards and practices in Central Asian countries. It identifies key differences in the adoption and implementation of various international frameworks, such as GRI, SASB, TCFD, and the UN Sustainable Development Goals (SDGs). The paper explores the challenges to widespread ESG reporting in the region, including data availability, regulatory gaps, lack of expertise, and awareness among businesses. Furthermore, it examines the opportunities for harmonization of ESG standards across Central Asia to improve comparability, attract foreign investment, and promote sustainable development. The analysis considers the potential role of regional organizations, government policies, and capacity-building initiatives in facilitating greater ESG transparency and accountability. The paper concludes with recommendations for policymakers and businesses to strengthen ESG reporting frameworks and promote sustainable practices in Central Asia.
ESG Reporting, Environmental, Social, and Governance, Sustainability, Central Asia, GRI (Global Reporting Initiative), SASB (Sustainability Accounting Standards Board).
ISSUES IN REMITTANCES MANAGEMENT BY FOREIGN COMPANIES IN NIGERIA
Foreign companies operating in Nigeria have experienced significant issues relating to their remittance management especially regarding their interactions with banks, operating environment and regulatory bodies. While Nigeria remains a leading destination for foreign direct investment in Africa, the business environment has witnessed significant changes that have affected the ability of these foreign entities to effectively carry out their legitimate transactions seamlessly. The compliance and regulatory environment have increasingly become restrictive especially in the area of funds repatriation and the general ease of doing business in Nigeria thereby affecting their business operations. This is in spite of the vital role these foreign companies play in the development of Nigerian economy. This study explores the main issues concerning remittance management by foreign companies operating in Nigeria by analyzing the effects of government policy, regulatory agencies like Central Bank of Nigeria, foreign exchange challenges and other constraints. This paper advocates for a balanced approach that ensures economic stability while fostering a conducive environment for foreign businesses to thrive.
Remittance management, foreign companies, regulatory challenges, payment delays, security concerns, cultural barriers.
SCIENTIFIC AND THEORETICAL BASIS AND FACTORS OF ENSURING MACROECONOMIC STABILITY
There are many factors that ensure macroeconomic stability, but among them, economic and financial, monetary and credit, and social factors are of particular importance, but among them, financial factors have the greatest influence. This article analyzes macroeconomic stability and financial factors to achieve it, analyzes some directions of its provision in the economy of Uzbekistan, and considers issues related to solving existing problems.
Economy, macroeconomics, macroeconomic indicators, macroeconomic stability, economic rating, macroeconomic policy, state financial policy, economic indicators, economic balance, stability, economic factors.
MANAGERIAL CAPABILITIES AND CORPORATE PERFORMANCE OF INSURANCE FIRMS IN NIGERIA
This study examines the relationship between managerial capabilities and corporate performance in insurance firms in Nigeria, with a particular focus on the moderating role of technology. Specifically, the research explores how managerial cognitive capabilities and managerial human capital influence operational efficiency and growth in customer base. Adopting a correlational research design, data were collected from 112 senior management personnel of insurance firms using a structured questionnaire. The findings reveal significant positive relationships between managerial cognitive capabilities and operational efficiency (r = .852, p < .01) as well as growth in customer base (r = .753, p < .01). Similarly, managerial human capital showed strong positive correlations with operational efficiency (r = .693, p < .01) and growth in customer base (r = .705, p < .01). Furthermore, the results indicate that technology significantly moderates the relationship between managerial capabilities and corporate performance, as evidenced by a reduction in the correlation coefficient from .682 to .594 when technology is introduced. This suggests that while managerial capabilities are crucial for enhancing corporate performance, the integration of technology further strengthens this relationship by optimizing operational processes and improving efficiency. The study concludes by recommending targeted investments in managerial training, strategic technological adoption, and digital transformation initiatives to address inefficiencies and drive sustainable growth in the Nigerian insurance sector.
Managerial Capabilities. Corporate Performance. Managerial Cognitive Capabilities. Managerial Human Capital. Operational Efficiency. Growth In Customer Base. Technology. Nigerian Insurance Firms.
ENVIRONMENTAL AND LEGAL FRAMEWORK FOR THE REGULATION OF ENERGY RESOURCE UTILIZATION
In this article, opinions were expressed on the improvement of regulatory documents and their analysis regarding the environmental and legal framework and system for regulating the use of energy resources of Energeia. Also, the most important issues related to the theory of Environmental Law, the further development of the system of environmental and legal foundations for the regulation of the use of energy resources were analyzed. It was studied from the point of view of the problems of issues of Environmental Legal Regulation of the use of energy sources, the national and international significance of energy law in the natural resource system, the origin of the right to use it within the framework of scientific research. The environmental and legal basis for regulating the use of energy resources in the energy sector is carried out in certain forms and methods.
Energy conservation, development strategy, renewable energy sources, fuel and energy resources, energy security, thermal energy, law, global environmental issues.
ANALYSIS OF THE FINANCIAL EFFICIENCY OF COMMERCIAL BANKS AND THE FACTORS INFLUENCING IT
This article presents an extended analysis of the financial efficiency of commercial banks and the key factors influencing it. The research focuses on evaluating key performance indicators such as profitability, liquidity, capital adequacy, and asset quality of commercial banks in Uzbekistan from 2019 to 2023. It also explores both internal and external determinants, including interest rate policies, technological transformation, regulatory environment, and macroeconomic conditions. Statistical tables and charts illustrate financial trends across several years. Finally, the paper offers practical recommendations for enhancing the financial sustainability, operational efficiency, and strategic resilience of the banking sector in Uzbekistan.
Financial efficiency, commercial banks, profitability, liquidity, capital adequacy, asset quality, digital transformation, Uzbekistan.
ORGANIZATION OF GASTRONOMIC TOURISM IN UZBEKISTAN
The article highlights the fact that gastronomic tourism is one of the fields of tourism that has been coming to our country since recent years, and today the importance of gastronomy tourism in our republic, the development of Uzbek national traditions, customs, national dishes and world standards.
Gastronomy, gastronomic tourism, gastronomic tourist, national dishes, tourism industry, World Tourism Organization (UNWTO), gross domestic product (GDP), wine(eno)-tourism.
IMPROVEMENT OF FINANCING OF JOINT-STOCK COMPANIES THROUGH THE STOCK MARKET
This article investigates the improvement of financing mechanisms for joint-stock companies through the stock market, emphasizing the role of market-based capital in ensuring corporate sustainability and growth. As financial globalization deepens and the demand for non-debt capital rises, the stock market has become a strategic platform for joint-stock companies to attract long-term investment, reduce financial dependence on bank loans, and enhance capital efficiency. The study analyzes key factors such as expanding access to public offerings, optimizing dividend and share issuance policies, increasing transparency in corporate reporting, and building investor trust through effective governance. Attention is also given to the adoption of modern financial technologies and regulatory reforms that facilitate smoother entry and operation in stock exchanges.
Joint-stock companies; stock market; equity financing; capital raising; public offerings; corporate transparency; financial reporting; investor confidence; dividend policy; market capitalization; financial sustainability; securities issuance.
WAYS TO IMPROVE THE ACTIVITIES OF JOINT-STOCK COMPANIES IN THE CAPITAL MARKET
This article explores practical and strategic ways to improve the activities of joint-stock companies in the capital market, focusing on strengthening their financial position, transparency, and investor attractiveness. In the context of global financial integration and increasing investor demands, joint-stock companies must adopt advanced mechanisms to ensure effective participation in capital markets. The study analyzes key improvement areas, including enhancing corporate governance, improving disclosure and reporting standards, optimizing capital structure, and diversifying financial instruments. Emphasis is placed on the importance of digital transformation, regulatory compliance, and building investor confidence through sustainable financial practices. Using comparative and empirical methods, the research draws insights from both developed and emerging market economies to outline successful strategies. The findings suggest that proactive engagement in the capital market not only boosts market capitalization and share liquidity but also contributes to long-term value creation for shareholders. The article concludes by presenting a policy-oriented framework for increasing the operational effectiveness of joint-stock companies in dynamic capital market environments.
Joint-stock companies; capital market; financial instruments; corporate governance; investor relations; market capitalization; stock liquidity; financial transparency; capital structure; shareholder value; securities market; financial reporting; strategic finance; investment attraction; international finance market.
INCREASING THE EFFICIENCY OF OPERATIONAL MANAGEMENT IN JOINT-STOCK COMPANIES
This article examines the strategic importance of increasing the efficiency of operational management in joint-stock companies, with a focus on enhancing corporate governance, resource optimization, and long-term sustainability. In the context of intensifying market competition and accelerating technological advancement, operational management plays a pivotal role in ensuring the adaptability and resilience of joint-stock companies. The study explores key factors influencing management efficiency, including the implementation of digital tools, restructuring of internal processes, and strengthening of accountability mechanisms within managerial hierarchies. Emphasis is placed on the integration of performance-based evaluation systems and data-driven decision-making to drive productivity and shareholder value. Methodological approaches involve comparative analysis of best practices in corporate governance and empirical data from both developed and emerging markets. The article concludes by proposing a framework for continuous improvement in operational management through innovation, transparency, and stakeholder engagement. These recommendations aim to bolster the competitiveness and financial stability of joint-stock companies in dynamic economic environments.
Operational management efficiency; joint-stock companies; corporate governance; resource optimization; sustainability; market competition; technological advancement; digital transformation; internal process restructuring; managerial accountability.
DEVELOPMENT OF COMMERCIAL BANKS’ SECURITIES ISSUANCE ACTIVITIES
This article offers an in-depth analysis of the capital-raising activities of commercial banks through the issuance of securities, drawing on theories of financial markets and corporate finance. The literature review examines the research of foreign and domestic scholars on increasing bank capital, including the motives for issuing shares and bonds. The article also compares the securities-related activities of Hamkorbank and Ipoteka-Bank for the period from 2023 to 2025, based on statistical data. The analysis shows the volume of share issuance of Hamkorbank and Ipoteka-Bank using graphs and tables. The conclusion offers recommendations for enhancing the capital-raising strategies of banks based on the findings.
Commercial banks, securities issuance, corporate finance, capital raising, bonds, stocks, investments, bank capitalisation, stock market, financial market.
ANALYSIS OF IPO PRACTICES IN OUR COUNTRY
This article examines the distinctive characteristics of Initial Public Offering (IPO) practices in attracting capital from international financial markets, with a focus on organizing effective capital mobilization and efficient utilization. The characteristics of IPO operations, the timeline of Uzbek companies entering IPOs, and the processes involved in utilizing raised capital have been studied. Scientific conclusions and proposals are presented.
AUTOMATIC CONTROL OF STEAM FLOW IN ELECTRICITY GENERATION
The efficient operation of thermal power plants hinges on precise control of steam flow, a critical parameter that impacts performance, safety, and economic efficiency. Steam, as the primary working fluid, drives turbines to convert thermal energy into electrical power. This article examines the principles, technologies, and challenges of automatic steam flow control in electricity generation. It highlights the role of feedback control systems, such as proportional-integral-derivative (PID) controllers, and advanced strategies like model predictive control (MPC). The integration of digital technologies, including the Industrial Internet of Things (IIoT) and artificial intelligence (AI), is explored for enhancing control precision and predictive maintenance. Challenges such as nonlinearity of steam dynamics, equipment wear, and economic trade-offs are analyzed. The article underscores the importance of optimized steam flow for energy efficiency and environmental sustainability, particularly in the context of integrating renewable energy sources. Findings suggest that advanced control systems enhance reliability and flexibility, contributing to sustainable power generation.
Steam flow, automatic control, thermal power plant, PID controller, model predictive control, Industrial IoT, energy efficiency, thermodynamic balance.
PRODUCTION, PROCESSING, OPTIMIZATION, ORGANIZATION AND IMPROVEMENT OF AGRICULTURAL PRODUCTS IN OUR COUNTRY
This is article reflects the importance of organizing clusters of agricultural production and processing in providing employment to the rural population, offers training based on the public-private partnership, as well as the direction of creating new jobs in clusters of agricultural production and processing.
Providing employment to the population, public-private partnership, production and processing clusters of agricultural products, personnel training, creation of new jobs.
THE ROLE OF STATE BUDGET REVENUES IN THE SOCIO-ECONOMIC DEVELOPMENT OF REGIONS
The article examines the role of state budget revenues in the socio-economic development of regions. Additionally, the analysis covers the share of state budget revenues in the gross domestic product (GDP) for the period 2020–2024, as well as the structure of state budget revenues during this period.
State budget, budget planning, taxes, gross domestic product (GDP), local budget.
DIRECTING HOUSEHOLD MONETARY SAVINGS TO INVESTMENTS IN UZBEKISTAN
This article explores the potential of household monetary savings in Uzbekistan to serve as a key driver for domestic investment. Although household deposits in the country have significantly increased over recent years, the transformation of savings into productive investments remains low. Based on statistical data, household surveys, and international experiences, the study identifies key barriers such as low financial literacy, underdeveloped capital markets, and limited access to digital investment platforms. The paper presents a detailed analysis of savings and investment trends from 2019 to 2023 and suggests practical policy recommendations to mobilize household savings for long-term economic development. It concludes that expanding financial education, diversifying accessible investment instruments, and strengthening regulatory confidence are essential steps toward increasing household investment activity in Uzbekistan.
Household savings, investment, financial literacy, capital markets, digital finance, economic development
IMPROVING THE MANAGEMENT MECHANISM OF TOURIST SERVICES IN TRANSPORT (A CASE STUDY OF KASHKADARYA REGION)
This article explores the current state and prospects for improving the management mechanism of tourist services in the transport sector, using the Kashkadarya region of Uzbekistan as a case study. As tourism becomes an increasingly important component of regional economic development, the integration of efficient transport services and infrastructure plays a critical role in enhancing tourist satisfaction and accessibility. The research identifies the specific challenges in the organization, regulation, and modernization of transport services tailored to tourism needs. It also considers the influence of regional characteristics on the implementation of effective management strategies. The paper offers a conceptual framework for optimizing service delivery by emphasizing coordination among tourism operators, transport providers, and local authorities. The findings provide practical recommendations for stakeholders to increase the efficiency, safety, and comfort of tourist transportation services, thereby supporting sustainable tourism growth in the region.
Tourist transport services, transport infrastructure, management mechanism, sustainable tourism, service quality, regional development, Kashkadarya, tourism logistics, transport policy, intermodal transport, innovation in transport, tourist mobility, tourism management, regional integration.
THE ROLE OF BANK DEPOSIT POLICY IN THE DEVELOPMENT OF BANK DEPOSIT OPERATIONS
This article thoroughly investigates the role of bank deposit policy in resource mobilization. Specifically, the main directions of deposit policy in commercial banks, as well as the processes and principles of its formation, are examined in both theoretical and practical aspects. Additionally, proposals are presented to enhance the role of deposit policy in resource mobilization by commercial banks.
Commercial bank, deposit, deposit policy, household savings, bank resources, mobilized funds.
DEVELOPMENT OF THE STOCK MARKET AND EMISSION ACTIVITY OF JOINT-STOCK COMPANIES IN UZBEKISTAN: TRENDS AND PROSPECTS
This scientific article presents a statistical analysis of the development of Uzbekistan's stock market and the share issuance activity of joint-stock companies from 2022 to 2025. The study examines the growth in the size of the stock market, the number and volume of initial public offerings (IPOs), and changes in investor activity. The results indicate that capital-raising activity in Uzbekistan's stock market increased markedly in 2023 – no IPOs were held in 2021–2022, whereas 3 IPOs took place in 2023. During this period, trading volume surged five-fold and market capitalization reached about 21% of GDP. However, the amount of capital raised via IPOs remains low; for instance, the February 2023 IPO of UzAuto Motors garnered only $5 million instead of the $90 million target. A comparative analysis with foreign experiences (e.g., the U.S. and China) suggests that further institutional reforms, enhanced foreign investor confidence, and incentives for new share issuances are needed to advance Uzbekistan’s capital market. Based on these findings, practical recommendations are proposed to boost stock market activity in Uzbekistan.
Stock market, IPO, share issuance, joint-stock company, investor activity, statistics, capital market, comparative analysis, reforms, international experience.
THE ROLE OF ARTIFICIAL INTELLIGENCE IN MARKETING RESEARCH
This in the article marketing research artificial intellect technologies importanc, application and results illuminated. Market in the economy competitiveness supply , consumer needs determination and marketing strategies effective in formation artificial of intellect caught place analysis Amazon, Netflix, Sephora , etc. large companies experience The real impact of SI technologies through open Digital is also available in Uzbekistan . trade, banking and tourism in the fields artificial from the intellect use trend increasing The article also discusses the development of SI technologies. advantages and disadvantages and future development prospects seeing Research content analysis, statistics and comparison methods through take gone.
Marketing, artificial intelligence, marketing research, big data, machine learning, sentiment analysis, segmentation, recommendation systems, digital transformation, consumer needs, personalization, data security, real-time marketing, uzum market.