European Journal of Economics, Finance and Business Development
type: channel
description: 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
publisher: European Science Publishing
language: en
publication name: European Journal of Economics, Finance and Business Development
issn: 2938-3633
items: WАYS TО STRЕNGTHЕN THЕ RЕSОURСЕ BАSЕ IN INСRЕАSING THЕ INVЕSTMЕNT PОTЕNTIАL ОF СОMMЕRСIАL BАNKS
items: TOPICAL ISSUES OF CREDIT MARKET DEVELOPMENT IN UZBEKISTAN
items: ENHANCING INVESTMENT PROCESSES THROUGH ALTERNATIVE FINANCING MECHANISMS IN ASIAN ECONOMIES
items: PROBLEMS AND PROSPECTS OF INTRODUCING “GREEN” SUKUK IN UZBEKISTAN
items: THE ROLE AND EFFECTIVENESS OF THE CORPORATE GOVERNANCE SYSTEM IN SHAPING A COMPANY'S FINANCIAL STRATEGY
items: FINANCING DIGITAL TRANSFORMATION IN EMERGING MARKET SPECIAL ECONOMIC ZONES
items: THE WAYS OF INCREASING THE EFFICIENCY OF MANAGERIAL ACTIVITY IN PRODUCTION ENTERPRISES
items: IMPROVING THE EFFICIENCY OF COMMERCIAL BANKS’ LENDING ACTIVITIES IN THE ERA OF DIGITAL TRANSFORMATION
items: DETERMINANTS OF VENTURE CAPITAL EXPANSION: THE IMPACT OF INSTITUTIONS, ECONOMIC DEVELOPMENT, AND MARKET LIQUIDITY
items: THE THEORETICAL FOUNDATIONS AND HISTORICAL EVOLUTION OF INTERNATIONAL FINANCIAL CENTERS: A COMPREHENSIVE HISTORICAL ANALYSIS
items: FAIR VALUE MEASUREMENT OF INVESTMENT PROPERTY UNDER IAS 40: ISSUES AND PRACTICAL IMPLICATIONS
items: PROSPECTS FOR SUSTAINABLE DEVELOPMENT OF THE AGRO-ECONOMY SECTOR: CHALLENGES AND OPPORTUNITIES
items: THE BENEFITS OF ENHANCING ENERGY EFFICIENCY IN REAL ESTATE OPERATIONS
items: KEY DIRECTIONS FOR RISK MANAGEMENT IMPROVEMENT
items: THEORETICAL FOUNDATIONS OF CORPORATE GOVERNANCE
items: WORLD EXPERIENCE: THE LINKAGE BETWEEN DIGITAL TRANSFORMATION AND GROWTH
items: KEY ISSUES IN THE AUDIT OF FINANCIAL STATEMENTS IN UZBEKISTAN
items: THE ROLE AND IMPORTANCE OF FOREIGN EXPERIENCE IN STRENGTHENING THE REVENUE BASE OF LOCAL BUDGETS
items: ECONOMETRIC MODELING OF THE IMPACT OF MOBILE PAYMENT SERVICES ON CONSUMER BEHAVIOR: AN EMPIRICAL ANALYSIS USING DATA FROM PAYME, CLICK, AND UZUM BANK
items: THE ROLE OF REFLECTION IN CONTINUING PROFESSIONAL DEVELOPMENT IN HIGHER EDUCATION
items: IMPROVEMENT OF THE MECHANISM FOR IMPLEMENTING SECURITIES TRANSACTIONS BY COMMERCIAL BANKS
items: THE ROLE OF THE MEDIA IN COVERING THE TOURISM CAPACITY: OPPORTUNITIES AND PROSPECTS
items: LEGAL BASIS OF SETTLEMENT OF CREDIT OPERATIONS IN THE ENTERPRISES
items: WAYS TO ENSURE THE PROFITABILITY OF COMMERCIAL BANKS IN UZBEKISTAN
items: THE MAIN RISKS OF INTERNATIONAL COMMERCIAL BANKS IN FINANCING INFRASTRUCTURE PROJECTS
items: THE ROLE OF PUBLIC CONTROL AND SOCIAL CONSCIOUSNESS IN INCREASING TAX COLLECTIVITY
items: THE NEUTRALITY TRAP: ASSESSING THE SUSTAINABILITY OF UZBEKISTAN’S GOLD-BACKED EXCHANGE RATE POLICY
items: THE IMPACT OF CORPORATE GOVERNANCE ON THE SUSTAINABILITY AND INNOVATION OF UZBEKISTAN'S TRANSPORT COMPANIES
items: DEVELOPING SOCIAL AND SERVICE SECTORS THROUGH DIGITALIZATION OF COMMERCIAL BANKS IN A MODERN ECONOMY
items: THE IMPACT OF ACCOUNTING INFORMATION ON INVESTORS’ DECISION-MAKING

WАYS TО STRЕNGTHЕN THЕ RЕSОURСЕ BАSЕ IN INСRЕАSING THЕ INVЕSTMЕNT PОTЕNTIАL ОF СОMMЕRСIАL BАNKS
type: item
description: This аrtiсlе аnаlyzеs thе impоrtаnсе оf grееn finаnсing аnd sustаinаblе finаnсе соnсеpts in thе mоdеrn finаnсiаl systеm, thеir rоlе in thе invеstmеnt асtivitiеs оf соmmеrсiаl bаnks, аnd thеir impасt оn есоnоmiс аnd еnvirоnmеntаl еffiсiеnсy. In thе соntехt оf сlimаtе сhаngе аnd nаturаl rеsоurсе sсаrсity, thе nесеssity оf implеmеnting еnvirоnmеntаlly rеspоnsiblе finаnсiаl instrumеnts in thе bаnking systеm is substаntiаtеd. Thе аrtiсlе highlights thе есоnоmiс еssеnсе оf instrumеnts suсh аs grееn dеpоsits, grееn lоаns, аnd grееn bоnds, thеir rоlе in risk mаnаgеmеnt, invеstmеnt pоrtfоliо divеrsifiсаtiоn, аnd thе implеmеntаtiоn оf ЕSG prinсiplеs. Аlsо, thе prасtiсе оf grееn finаnсing аnd its dynаmiсs аrе аnаlyzеd оn thе ехаmplе оf JSСB “Uzprоmstrоybаnk” аnd trеnds аnd prоspесts in this dirесtiоn аrе shоwn. Thе rеsults оf thе аrtiсlе соnfirm thаt grееn finаnсе instrumеnts fоr bаnks аrе а strаtеgiс tооl fоr еnsuring sustаinаblе dеvеlоpmеnt.
subject: Articles
  topic: section
subject: Grееn finаnсе, sustаinаblе finаnсе, ЕSG prinсiplеs, grееn dеpоsits, grееn lоаns, grееn bоnds, соmmеrсiаl bаnks, invеstmеnt асtivitiеs, risk mаnаgеmеnt, sustаinаblе dеvеlоpmеnt.
  topic: keywords
creator: Аbduvаliyеv Sаnjаr Аbdurаhmаnоviсh
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-04-21
publication date: 2026-04-21
starting page: 26
ending page: 35

TOPICAL ISSUES OF CREDIT MARKET DEVELOPMENT IN UZBEKISTAN
type: item
description: The credit market is one of the main segments of the national financial market. It ensures the flow of credit resources, and credit is an important factor in ensuring economic growth while maintaining macroeconomic stability. This article identifies current issues related to the development of the credit market in Uzbekistan and develops research proposals aimed at addressing these challenges. Specifically, it substantiates the need to develop the credit market by improving the credit market regulation system and reducing the state's share in the regulatory capital of commercial banks.
subject: Articles
  topic: section
subject: Credit, credit market, credit resources, commercial bank, interest rate, refinancing policy, key rate.
  topic: keywords
creator: Javlanova Shakhnoza Djalolitdinovna
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-04-21
publication date: 2026-04-21
starting page: 36
ending page: 41

ENHANCING INVESTMENT PROCESSES THROUGH ALTERNATIVE FINANCING MECHANISMS IN ASIAN ECONOMIES
type: item
description: This study examines the role of alternative financing mechanisms in enhancing investment processes in Asian economies, with particular focus on countries such as China, Japan, and South Korea. The research explores how non-traditional financial instruments—including venture capital, crowdfunding, peer-to-peer lending, and private equity—contribute to improving access to capital, increasing investment efficiency, and supporting economic growth. The paper analyzes theoretical approaches and empirical trends related to the development of alternative financing in the region, highlighting the impact of financial technologies and institutional frameworks. In addition, the study identifies key challenges such as regulatory gaps, risk management issues, and uneven development of financial infrastructure across countries. The findings suggest that the integration of alternative financing mechanisms with traditional financial systems, along with strong institutional support and digital innovation, plays a crucial role in enhancing investment activity in Asian economies.
subject: Articles
  topic: section
subject: Asian economies, alternative financing, investment processes, crowdfunding, venture capital, peer-to-peer lending, private equity, FinTech, financial innovation, investment efficiency.
  topic: keywords
creator: Bobokulov Akmal Muborakbekovich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-04-21
publication date: 2026-04-21
starting page: 17
ending page: 25

PROBLEMS AND PROSPECTS OF INTRODUCING “GREEN” SUKUK IN UZBEKISTAN
type: item
description: This article based on data from the World Bank and official national sources, a comparative analysis has been conducted on the structure, terms, yields, and allocation of proceeds of green bonds and sukuk in international practice. These findings provide an important theoretical and practical foundation for the development of the green sukuk market in Uzbekistan. The results of the study indicate that, despite the significant potential of green sukuk to attract capital and finance environmentally sustainable projects, several challenges remain in their implementation. In particular, risks such as greenwashing, the high cost of financial instruments, currency mismatches, and the insufficient development of the regulatory and legal framework constitute major barriers. The experience of Uzbekistan and developed countries demonstrates that properly structured and institutionally supported green sukuk, in compliance with Sharia principles, can serve as an effective instrument for mobilizing investment. In conclusion, it should be emphasized that the successful introduction of green sukuk in Uzbekistan requires the deepening of institutional reforms, ensuring transparency, improving the regulatory framework in line with international standards, and integrating this instrument into the country’s public financial policy.
subject: Articles
  topic: section
subject:
  topic: keywords
  value: Green sukuk, green economy, public–private partnership (PPP), Developing countries; Special Purpose Vehicle (SPV), ESG investment; Greenwashing; Public debt; SDG bonds; Sustainability-linked finance, Climate Bonds Initiative.
creator: Aminova Nilufar Umarboy qizi
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-04-20
publication date: 2026-04-20
starting page: 10
ending page: 16

THE ROLE AND EFFECTIVENESS OF THE CORPORATE GOVERNANCE SYSTEM IN SHAPING A COMPANY'S FINANCIAL STRATEGY
type: item
description: This article examines the role and effectiveness of the corporate governance system in shaping a company's financial strategy. The study analyzes corporate governance mechanisms, the involvement of the Chief Financial Officer (CFO) in strategic and operational decision-making, financial risk management, and resource utilization. The research demonstrates that an effective corporate governance system contributes to enhanced financial stability, the rational allocation of resources, and increased market competitiveness.
subject: Articles
  topic: section
subject: Corporate governance, financial strategy, Chief Financial Officer (CFO), risk management, resources, effectiveness, strategic decisions, investments, stability, competitiveness.
  topic: keywords
creator: Karieva Gulnora Abdullaevna
creator: Umarov Sardorbek
creator: Eshkuvatova Rakhshona
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-04-10
publication date: 2026-04-10
starting page: 1
ending page: 9

FINANCING DIGITAL TRANSFORMATION IN EMERGING MARKET SPECIAL ECONOMIC ZONES
type: item
description: This paper examines the critical issues surrounding the financing of digital transformation initiatives within Special Economic Zones (SEZs) in emerging markets. It identifies key challenges such as inadequate infrastructure, limited access to capital, regulatory uncertainties, and a lack of skilled human resources that hinder the successful implementation of digital projects. The study explores various financing mechanisms, including public-private partnerships, venture capital, green finance, and international development aid, and analyzes their suitability for SEZs. Furthermore, it discusses the potential of emerging financial technologies (fintech) to bridge financing gaps and accelerate digital adoption. The paper concludes by offering policy recommendations aimed at creating a more conducive financial ecosystem for digital transformation in these strategic economic enclaves.
subject: Articles
  topic: section
subject: Digital economy, special economic zones, investment projects, financing, digital technologies, innovative financing.
  topic: keywords
creator: Egamov Otabek Erkinboy oglu
creator: Hamidova Faridakhon Abdulkarim qizi
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-31
publication date: 2026-03-31
starting page: 69
ending page: 72

THE WAYS OF INCREASING THE EFFICIENCY OF MANAGERIAL ACTIVITY IN PRODUCTION ENTERPRISES
type: item
description: This study examines methods for increasing the efficiency of managerial activity in production enterprises under conditions of uncertainty. Modern production systems operate in dynamic economic environments characterized by incomplete information, market fluctuations, and political and technological risks. Managerial efficiency depends on the ability to anticipate, evaluate, and mitigate these uncertainties through a combination of classical management principles, innovative technologies, and human-centric approaches. The research employs a mixed-methods design, combining surveys, interviews, and secondary data analysis to evaluate current managerial practices, identify efficiency-enhancing strategies, and assess the impact of uncertainty on decision-making. Key findings highlight the importance of adaptive management, predictive and preventive measures, integration of digital technologies, strategic flexibility, and participative decision-making. A synergetic approach that combines quantitative and qualitative analyses is recommended to optimize managerial performance, ensure sustainable growth, and maintain a competitive advantage in production enterprises.
subject: Articles
  topic: section
subject:
  topic: keywords
  value: Managerial efficiency, production enterprises, uncertainty, adaptive management, decision-making, digital technologies, synergetic approach, strategic flexibility, predictive measures, performance monitoring.
creator: Karieva Gulnora Abdullaevna
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-26
publication date: 2026-03-26
starting page: 61
ending page: 68

IMPROVING THE EFFICIENCY OF COMMERCIAL BANKS’ LENDING ACTIVITIES IN THE ERA OF DIGITAL TRANSFORMATION
type: item
description: The rapid advancement of digital technologies has transformed the banking sector, offering commercial banks new opportunities to improve the efficiency of their lending activities. Digital transformation enables banks to streamline credit evaluation, enhance risk assessment, and optimize loan processing operations. This paper explores how commercial banks can leverage digital tools—including artificial intelligence, big data analytics, blockchain, and digital lending platforms—to increase lending efficiency and profitability while minimizing risks. The study also examines the challenges posed by technological integration, regulatory compliance, and cybersecurity, highlighting strategies to overcome these obstacles. Findings suggest that banks that strategically adopt digital solutions can significantly enhance their lending processes, improve customer experience, and maintain competitive advantage in the digital era.
subject: Articles
  topic: section
subject: Commercial banks, lending efficiency, digital transformation, credit risk management, digital lending, financial technology, operational optimization.
  topic: keywords
creator: Dilnoza Xaitboyeva
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-25
publication date: 2026-03-25
starting page: 56
ending page: 60

DETERMINANTS OF VENTURE CAPITAL EXPANSION: THE IMPACT OF INSTITUTIONS, ECONOMIC DEVELOPMENT, AND MARKET LIQUIDITY
type: item
description: This study examines the determinants of venture capital development with a focus on institutional quality, economic development, and market depth of countries. Using unbalanced panel data across countries, the analysis applies advanced econometric techniques, including the Mundlak (Correlated Random Effects) approach, to account for unobserved heterogeneity and distinguish between within- and between-country effects. The results show that GDP per capita and stock market activity positively influence venture capital investment, highlighting the importance of economic development and exit opportunities. While the within-country effect of the rule of law appears negative, its between-country (mean) effect is positive and statistically significant, suggesting that countries with consistently stronger institutional environments attract higher levels of venture capital in the long run. Overall, the findings emphasize that venture capital development is primarily driven by structural differences in institutional quality and market conditions rather than short-term changes. The study provides important policy implications, particularly for emerging economies, underscoring the need to strengthen legal systems, develop exit markets, and support risk-sharing financial mechanisms.
subject: Articles
  topic: section
subject: Venture capital, institutional quality, exit markets, M&A, IPO, contract enforcement, investor protection.
  topic: keywords
creator: Nilufar Babanazarova
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-25
publication date: 2026-03-25
starting page: 45
ending page: 55

THE THEORETICAL FOUNDATIONS AND HISTORICAL EVOLUTION OF INTERNATIONAL FINANCIAL CENTERS: A COMPREHENSIVE HISTORICAL ANALYSIS
type: item
description: The emergence and development of international financial centers (IFCs) represent one of the most significant phenomena in the global economic landscape. This article traces the theoretical evolution of the concept of international financial centers from the early twentieth-century notion of “world cities” to contemporary understandings of global financial hubs. The research examines the historical trajectory of major financial centers from medieval Italian city-states through contemporary global hubs, identifying critical factors that have determined their rise, dominance, and occasional decline. The findings reveal that successful IFCs are characterized by the concentration of international capital, liberal regulatory frameworks, advanced telecommunications infrastructure, and the presence of multinational corporations and financial institutions. The article concludes by synthesizing these theoretical and historical insights into a comprehensive definition of international financial centers and their role in the global economy.
subject: Articles
  topic: section
subject: Finance, international financial center, world city, global city, financial hub, capital markets, urban economics.
  topic: keywords
creator: J. J. Xamitillayeva
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-23
publication date: 2026-03-23
starting page: 35
ending page: 44

FAIR VALUE MEASUREMENT OF INVESTMENT PROPERTY UNDER IAS 40: ISSUES AND PRACTICAL IMPLICATIONS
type: item
description: This article examines the fair value measurement of investment property in accordance with International Accounting Standard (IAS) 40. Investment property represents an important category of assets that can significantly influence the financial position and performance of companies. The study analyzes the theoretical foundations of fair value measurement and its role in improving the transparency and reliability of financial reporting. Particular attention is paid to the advantages and challenges associated with the application of the fair value model in practice. The research also discusses common issues faced by companies in determining the fair value of investment property, including the lack of active markets, valuation subjectivity, and the availability of reliable market data. In addition, the paper considers the practical implications of fair value measurement for financial decision-making and financial reporting quality. Based on the analysis, several recommendations are proposed to improve the reliability and effectiveness of investment property valuation under IAS 40.
subject: Articles
  topic: section
subject: Investment property, IAS 40, fair value measurement, financial reporting, valuation methods, accounting standards, financial transparency.
  topic: keywords
creator: Makhmudov Jamshed Ashrafovich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-18
publication date: 2026-03-18
starting page: 27
ending page: 34

PROSPECTS FOR SUSTAINABLE DEVELOPMENT OF THE AGRO-ECONOMY SECTOR: CHALLENGES AND OPPORTUNITIES
type: item
description: The sustainable development of the agro-economy sector is increasingly recognized as a key determinant of national food security, rural welfare, and adaptation to global climate change. In Uzbekistan and many other developing economies, agriculture remains a dominant sector, yet it faces structural, environmental, and financial challenges that threaten its long-term stability. This article investigates the prospects of sustainable development in the agro-economy, with a specific focus on Uzbekistan’s agricultural transformation between 2018 and 2024. The study applies a mixed methodological framework, combining econometric modeling, statistical analysis, SWOT assessment, and scenario-based forecasting to examine productivity growth, irrigation efficiency, export diversification, and the transition to organic farming. Empirical findings indicate that the adoption of digital agriculture technologies (AgroTech, AI, IoT) and the establishment of agro-clusters have contributed to improvements in yield, market access, and resource management. However, persistent issues such as excessive water consumption, limited renewable energy integration, and insufficient access to green finance continue to slow progress. Comparative analysis with international best practices from the European Union, China, and Turkey highlights both opportunities and gaps in Uzbekistan’s agricultural policies. The paper concludes by recommending strategic policy measures that include the promotion of green financing instruments, expansion of renewable energy in rural areas, strengthening of value chains, and the development of climate-resilient farming practices. These measures are expected to foster a competitive, inclusive, and sustainable agro-economy that is aligned with the United Nations Sustainable Development Goals (SDGs).
subject: Articles
  topic: section
subject: Sustainable agriculture, agro-industrial development, value chain integration, climate-smart agriculture, water-use efficiency.
  topic: keywords
creator: Eshdavlatov Murotali Baxodirovich
creator: Xudayberdiyeva Filyura Mirzamashrabovna
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-16
publication date: 2026-03-16
starting page: 16
ending page: 26

THE BENEFITS OF ENHANCING ENERGY EFFICIENCY IN REAL ESTATE OPERATIONS
type: item
description: This article analyzes the economic, environmental, and social benefits of improving energy efficiency in the operation of real estate buildings. The study assesses the effectiveness of modern energy-saving technologies, energy-efficient construction materials, and management mechanisms. It substantiates the potential to reduce operating costs, minimize environmental impact, and increase the market value of real estate properties.
subject: Articles
  topic: section
subject: Real estate, energy efficiency, building operation, energy-saving technologies, operating costs, sustainable development.
  topic: keywords
creator: Урунбаев Сапарбек Саматович
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-14
publication date: 2026-03-14
starting page: 7
ending page: 15

KEY DIRECTIONS FOR RISK MANAGEMENT IMPROVEMENT
type: item
description: This article examines the key directions for improving risk management systems in modern financial and corporate environments. The increasing complexity of global economic relations, digital transformation, and financial market volatility require organizations and financial institutions to develop more effective risk management frameworks. The research analyzes international practices in risk management, particularly focusing on developed economies, and evaluates the current state of risk management implementation in Uzbekistan. The study identifies the main challenges affecting risk management efficiency, including technological risks, regulatory challenges, and organizational barriers. Through comparative analysis and statistical review, the article highlights the importance of integrated risk management strategies, digital tools, and institutional reforms. The findings indicate that organizations adopting advanced risk governance structures demonstrate higher resilience and financial sustainability. The article concludes with practical recommendations aimed at strengthening risk management systems through improved regulatory frameworks, adoption of modern analytical technologies, and enhanced professional training. The results may contribute to improving decision‑making processes and strengthening financial stability at both institutional and national levels.
subject: Articles
  topic: section
subject: Risk management, enterprise risk management, financial stability, risk governance, digital risk analytics, banking sector.
  topic: keywords
creator: Misirov Iskandar Abduvalievich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-03-07
publication date: 2026-03-07
starting page: 1
ending page: 6

THEORETICAL FOUNDATIONS OF CORPORATE GOVERNANCE
type: item
description: The article examines the theoretical and practical aspects of corporate governance as one of the key concepts in the modern global economy. The economic essence, objectives, and functions of corporate governance in the context of globalization and the development of corporate structures are analyzed. Special attention is given to major corporate governance theories, including agency theory, stakeholder theory, transaction cost theory, resource dependence theory, and political theory. The paper also discusses conflicts of interest between shareholders and managers and highlights the role of corporate governance in increasing investment attractiveness and improving corporate performance.
subject: Articles
  topic: section
subject: Corporate governance, agency theory, stakeholders, transaction cost theory, resource dependence, political theory, corporate structure.
  topic: keywords
creator: Jalilov Arslon Khoshimovich
creator: Uktamova Zakro Nuriddin qizi
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-25
publication date: 2026-02-25
starting page: 34
ending page: 38

WORLD EXPERIENCE: THE LINKAGE BETWEEN DIGITAL TRANSFORMATION AND GROWTH
type: item
description: This paper examines how digital transformation shapes economic growth by changing productivity dynamics, firm behavior, public service efficiency, and the allocation of capital and labor. Drawing on international experience, the study frames digital transformation as a systemic shift that combines infrastructure (broadband, cloud, data centers), adoption (digital skills, e-commerce, automation), and governance (competition policy, cybersecurity, data protection, and digital public platforms). The central argument is that growth effects depend less on technology availability and more on diffusion quality: complementary investments in human capital, management practices, and institutions determine whether digital tools translate into higher total factor productivity and inclusive gains. The paper also highlights common bottlenems: unequal connectivity, skill gaps, low trust in digital services, and weak interoperability across public and private systems, which can slow diffusion and widen regional and sectoral disparities. The analysis positions Uzbekistan’s reform trajectory within these global patterns and proposes a policy-informed lens for assessing which digital levers most reliably generate growth, employment upgrading, and resilience in emerging economies.
subject: Articles
  topic: section
subject:
  topic: keywords
  value: digital transformation, economic growth, productivity, total factor productivity, ICT infrastructure, diffusion, innovation, platform economy, digital skills, e-government, competitiveness, data governance, cybersecurity, inclusive development, structural change.
creator: Juraboyeva Sevara Alijon qizi
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-24
publication date: 2026-02-24
starting page: 26
ending page: 33

KEY ISSUES IN THE AUDIT OF FINANCIAL STATEMENTS IN UZBEKISTAN
type: item
description: This article is devoted to the features of conducting an audit of financial statements prepared in accordance with international standards in Uzbekistan, in which the relevance of studying this topic, the level of study, the features of organizing an audit of financial statements prepared in accordance with international standards, the opportunities achieved in the implementation of IFRS and AAS in practice, issues to be studied in the process of auditing transactions made after the date of preparation of financial statements, the differences in the audit of financial statements prepared using parallel accounting (conversion) and transformation methods, and practical recommendations for improving this process are formulated.
subject: Articles
  topic: section
subject:
  topic: keywords
  value: Financial statement audit, international auditing standards, international financial reporting standards, financial reporting standards, fraud, misrepresentation of financial statements, errors and omissions in financial statements, reliability of financial statements, users of financial statements, parallel accounting (conversion) method, transformation method.
creator: Isroil Ismoilovich Meliev
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-22
publication date: 2026-02-22
starting page: 19
ending page: 25

THE ROLE AND IMPORTANCE OF FOREIGN EXPERIENCE IN STRENGTHENING THE REVENUE BASE OF LOCAL BUDGETS
type: item
description: This article analyzes the theoretical and methodological aspects of strengthening the revenue base of local budgets, as well as the experience of foreign countries in this field. In particular, mechanisms such as fiscal decentralization, increasing the share of local taxes, digitalization of tax administration, and diversification of non-tax revenue sources are examined. The study also develops practical recommendations based on institutional factors and the possibilities of adapting advanced foreign practices to national conditions. The research findings contribute to ensuring the financial independence of local budgets and promoting the sustainable socio-economic development of regions.
subject: Articles
  topic: section
subject: Local budget, revenue base, fiscal decentralization, local taxes, tax administration, non-tax revenues, transfers, budget sustainability, foreign experience, financial independence.
  topic: keywords
creator: Sharopov Dilshodjon Rakhmatullaevich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-20
publication date: 2026-02-20
starting page: 10
ending page: 18

ECONOMETRIC MODELING OF THE IMPACT OF MOBILE PAYMENT SERVICES ON CONSUMER BEHAVIOR: AN EMPIRICAL ANALYSIS USING DATA FROM PAYME, CLICK, AND UZUM BANK
type: item
description: This article investigates the impact of mobile payment services on consumer behavior through an econometric modelling approach. Using empirical data from Payme, Click, and Uzum Bank – the three leading digital payment platforms in Uzbekistan – the research evaluates how the intensity of mobile transaction usage influences consumer spending patterns and adoption decisions. A multiple regression model and logistic estimation techniques are employed to identify statistically significant determinants shaping behavioral shifts towards digital financial services. The results demonstrate that transaction frequency, service convenience, perceived security, and digital infrastructure quality are key drivers of consumer behavior transformation. The findings contribute to the growing literature on fintech adoption in emerging markets and provide policy-relevant insights for strengthening digital financial ecosystems.
subject: Articles
  topic: section
subject: Mobile payments; consumer behavior; econometric modelling; digital finance; fintech adoption; regression analysis; Uzbekistan.
  topic: keywords
creator: Muminova Makhbuba Abduvafayevna
creator: Qudratova Gulshoda
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-18
publication date: 2026-02-18
starting page: 1
ending page: 9

THE ROLE OF REFLECTION IN CONTINUING PROFESSIONAL DEVELOPMENT IN HIGHER EDUCATION
type: item
description: Reflective practice has become a central mechanism within Continuing Professional Development (CPD) frameworks in higher education. It enables educators to evaluate teaching practices, identify growth areas, and align professional learning with institutional demands andstudent expectations. This article examines the conceptual foundations of reflection, its pedagogical value, and its challenges within CPD systems, drawing from scholarly literature to argue that reflective engagement both individualizes and democratizes academic development.
subject: Articles
  topic: section
creator: Ug’iloy Xakimova
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-02-04
publication date: 2026-02-04
starting page: 39
ending page: 41

IMPROVEMENT OF THE MECHANISM FOR IMPLEMENTING SECURITIES TRANSACTIONS BY COMMERCIAL BANKS
type: item
description: This article examines the theoretical aspects of securities transactions of commercial banks, mechanisms for their improvement. The article also studies the organizational, legal and operational mechanisms for conducting securities transactions in banks, examines the problems that hinder their development, and formulates conclusions on the further development of the activities of commercial banks in the securities market.
subject: Articles
  topic: section
subject: Commercial banks, securities, securities of commercial banks, stock market, diversification, bond, eurobond.
  topic: keywords
creator: Avezov Ibrohim
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-01-05
publication date: 2026-01-05
starting page: 34
ending page: 38

THE ROLE OF THE MEDIA IN COVERING THE TOURISM CAPACITY: OPPORTUNITIES AND PROSPECTS
type: item
description: This article analyzes the role of the media (media) in covering the tourism potential of Uzbekistan. The research question is: How does the media affect the effective coverage of the tourism potential of Uzbekistan and what opportunities and prospects exist in this process? As tourism becomes one of the important sectors of the economy, the importance of the media in promoting it is increasing. The research was based on qualitative analysis methods and content analysis. Although travel journalism is a major field, it was found that there is almost no modern research on this topic. It is necessary to continue research in order for scientists to continue their research and find solutions to existing problems. According to the results, the field of journalism is an important tool in popularizing tourism, and it was found that multimedia content created in particular on online platforms and social networks is increasing interest in tourism.
subject: Articles
  topic: section
subject: Tourism, media, media strategy, content analysis, domestic tourism, social networks.
  topic: keywords
creator: Asqaraliyev Saidali Raxmonaliyevich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-01-10
publication date: 2026-01-10
starting page: 29
ending page: 33

LEGAL BASIS OF SETTLEMENT OF CREDIT OPERATIONS IN THE ENTERPRISES
type: item
description: The strict adherence of these banks to the principles of loan repayment, processing, solvency and security, as stipulated in current legislation and agreed upon with the parties, is studied. Depending on the term, bank loans are short and long-term. With the temporary term (date) of the loan. The legal and regulatory documents on the procedure for repaying loans are studied.
subject: Articles
  topic: section
subject: Bank, credit, Commercial bank, balance sheet, liquidity, Business entities, liabilities.
  topic: keywords
creator: Mo‘ydinov Ozodbek Olimjonovich
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-01-10
publication date: 2026-01-10
starting page: 18
ending page: 28

WAYS TO ENSURE THE PROFITABILITY OF COMMERCIAL BANKS IN UZBEKISTAN
type: item
description: In the global economy, ensuring the profitability of commercial banks is of strategic importance for the continuous functioning of financial intermediation, the sustainable allocation of credit resources to the real sector, and strengthening the stability of the banking system. With sufficient profitability, banks can expand their capital base, diversify risks, introduce innovative financial products, and pursue a competitive interest rate policy, which serves as a driver of economic growth. On the contrary, low profitability increases the risk of limiting credit activity, deteriorating asset quality, and increasing threats to financial stability. Therefore, in the banking practice of countries around the world, ensuring the profitability of commercial banks is considered one of the priority areas of bank management.
subject: Articles
  topic: section
subject: Economy, commercial banks, financial resources, mobile banking services, macroeconomic environment, market conditions, regulation, risks, stability, regulators.
  topic: keywords
creator: Erkinkhojiev Ismoiljon
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-01-10
publication date: 2026-01-10
starting page: 13
ending page: 17

THE MAIN RISKS OF INTERNATIONAL COMMERCIAL BANKS IN FINANCING INFRASTRUCTURE PROJECTS
type: item
description: Financing infrastructure projects is one of the key areas of activity for international commercial banks, especially in the context of the growing need of developing and transition economies to modernize their transport, energy and logistics infrastructure. At the same time, infrastructure projects are characterized by high capital intensity, long implementation periods, and a significant degree of uncertainty, which creates a wide range of risks for lending banks. The purpose of this article is to provide a comprehensive analysis of the main risks faced by international commercial banks when financing infrastructure projects. This article examines credit, operational, regulatory, political, currency, and legal risks, as well as the specifics of their assessment and management in project finance. Particular attention is paid to the role of the institutional environment and public-private partnerships in redistributing and mitigating banking risks. Based on an analysis of international experience, conclusions are drawn regarding the key factors influencing international banks' participation in infrastructure financing.
subject: Articles
  topic: section
subject: International commercial banks, infrastructure projects, project financing, banking risks, investments, PPP.
  topic: keywords
creator: Саидова Наргиза Шовхи кизи
creator: Тураева Сурия Тельмановна
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
date: 2026-01-09
publication date: 2026-01-09
starting page: 1
ending page: 12

THE ROLE OF PUBLIC CONTROL AND SOCIAL CONSCIOUSNESS IN INCREASING TAX COLLECTIVITY
type: item
description: This article scientifically examines the role of public oversight and social awareness in improving tax collection. The experience of Uzbekistan is comparatively analyzed with the practices of Scandinavian countries, the Republic of Korea, and Singapore. The research results show that citizens' trust in the tax system and active public participation directly affect the increase in tax collection rates. The article develops scientific and practical proposals for adapting international experience and enhancing tax culture in Uzbekistan.
subject: Articles
  topic: section
subject: Tax collection, public oversight, social awareness, tax culture, Scandinavian experience, Republic of Korea, Singapore, Uzbekistan, tax system, trust.
  topic: keywords
creator: Solikhova Khumora Khasan kizi
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
date: 2025-12-23
publication date: 2025-12-23
starting page: 26
ending page: 33

THE NEUTRALITY TRAP: ASSESSING THE SUSTAINABILITY OF UZBEKISTAN’S GOLD-BACKED EXCHANGE RATE POLICY
type: item
description: Since the liberalization of the foreign exchange market in 2017, the Central Bank of Uzbekistan (CBU) has operated under a "Principle of Neutrality"—selling foreign currency reserves only to sterilize the liquidity generated by domestic gold purchases. This paper analyzes the efficacy of this mechanism during the volatility of 2024–2025. By correlating gold price fluctuations with CBU intervention volumes, we demonstrate that the stability of the Uzbek Soum (UZS) has become structurally dependent on global gold markets rather than domestic productivity. While this "Gold-FX Shield" successfully limited depreciation to ~4.7% in 2024, our results suggest it creates a "Neutrality Trap," where a significant correction in gold prices would force the regulator to choose between abandoning neutrality or permitting a destabilizing currency shock.
subject: Articles
  topic: section
subject:
  topic: keywords
  value: Gold–fx shield, principle of neutrality, foreign exchange market, central bank of uzbekistan, gold price volatility, currency intervention, exchange rate stability, neutrality trap, monetary policy, uzbek soum.
creator: Yakubov Jakhongir
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
date: 2025-12-13
publication date: 2025-12-13
starting page: 22
ending page: 25

THE IMPACT OF CORPORATE GOVERNANCE ON THE SUSTAINABILITY AND INNOVATION OF UZBEKISTAN'S TRANSPORT COMPANIES
type: item
description: This article examines the impact of corporate governance mechanisms on the sustainability and innovative development of transport companies in the Republic of Uzbekistan. Based on an analysis of regulatory documents, annual reports, and Agency for Development of the Capital Market and Corporate Governance of the Republic of Uzbekistan (ARRUKR) data for 2020–2024, the level of governance maturity in railway, aviation, and road transport organizations is assessed. Quantitative indicators of board independence, the dynamics of ESG reporting implementation, and innovation activity are presented. Three case studies, a SWOT analysis, and comparisons with practices in South Korea (Korail), Germany (Deutsche Bahn), and France (SNCF) are conducted. Two research hypotheses are formulated and empirically validated, and practical recommendations for institutional improvement of corporate governance are proposed.
subject: Articles
  topic: section
subject: Corporate governance, sustainability, innovation, ESG, digitalization, transport sector, Uzbekistan, Middle Corridor.
  topic: keywords
creator: Kadirova Sharofat Amonovna
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
date: 2025-12-11
publication date: 2025-12-11
starting page: 5
ending page: 21

DEVELOPING SOCIAL AND SERVICE SECTORS THROUGH DIGITALIZATION OF COMMERCIAL BANKS IN A MODERN ECONOMY
type: item
description: This article examines the prospects for the introduction of digital services in commercial banks in the modern economy, scientific views aimed at studying the ways to successfully implement digital technologies, improve customer service and increase the overall efficiency of banks. In today's digital economy, the introduction of digital services for banks serves not only as a convenience, but also as an important factor ensuring competitiveness.
subject: Articles
  topic: section
subject: Commercial banks, digital services, digitization, banking services, financial services, remote service.
  topic: keywords
creator: Norqulov Habibullo
creator: Zubaydulloyeva Damira
creator: Suyunov Azizjon
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
date: 2025-12-11
publication date: 2025-12-11
starting page: 1
ending page: 4

THE IMPACT OF ACCOUNTING INFORMATION ON INVESTORS’ DECISION-MAKING
type: item
description: This article provides a comprehensive analysis of the theoretical and practical significance of accounting information for investors. From a scientific perspective, it substantiates that accounting information serves as a primary source in making investment decisions, playing a crucial role in risk assessment and strategic planning. From a practical perspective, the article illustrates the importance of accounting information in selecting investment objects, shaping dividend policies, mitigating financial risks, and monitoring corporate performance. At the same time, it emphasizes that in periods of recession and economic uncertainty, blindly relying on standard indicators may prove ineffective; therefore, when interpreting published financial statements, it is essential to take into account the specific features of the reporting period. The article argues for the necessity of adopting a comprehensive approach to the qualitative analysis and utilization of accounting information. The conclusions presented highlight the opportunities for investors to purposefully use accounting information in developing risk-averse and efficient investment strategies.
subject: Articles
  topic: section
subject: Accounting information, investors, financial reporting, investment risks, dividend policy, International Financial Reporting Standards (IFRS), recession, analysis of information quality
  topic: keywords
creator: Rakhmatova Shakhnoza Shukurovna
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-nc/4.0
date: 2025-12-08
publication date: 2025-12-08
starting page: 35
ending page: 40