AKSIYADORLIK JAMIYATLARIDA DIVIDEND TO‘LASH QOBILIYATI KOEFFITSIYENTINING MAQBUL ORALIG‘INI ANIQLASH VA UNING INVESTITSION SAMARADORLIKKA TA’SIRI
DOI:
https://doi.org/10.5281/zenodo.19441448Keywords:
Dividend siyosati, dividend to‘lash qobiliyati koeffitsiyenti, KDT, investitsion samaradorlik, aksiyalar rentabelligi, Tobin’s Q, rentabellik (ROE), aksiyadorlik jamiyatlari, ekonometrik tahlil, OLS regressiya, korporativ boshqaruv, ESG ko‘rsatkichlari, moliyaviy barqarorlik.Abstract
Mazkur tadqiqot aksiyadorlik jamiyatlarida dividend siyosatining investitsion samaradorlikka ta’sirini
baholashga bag‘ishlangan. Tadqiqotning asosiy maqsadi dividend to‘lash qobiliyati koeffitsiyentining (KDT) optimal
darajasini aniqlash hamda uning aksiyalar rentabelligi, kompaniya qiymati va umumiy investitsion jozibadorlikka ta’sirini
ilmiy asoslashdan iborat. Tadqiqot doirasida 2020–2024 yillar oralig‘ida aksiyadorlik jamiyatlarining moliyaviy va bozor
ko‘rsatkichlari asosida ekonometrik tahlil amalga oshirildi. Tahlil jarayonida oddiy eng kichik kvadratlar usuli (OLS)
qo‘llanilib, KDT hamda investitsion samaradorlik ko‘rsatkichlari o‘rtasidagi bog‘liqlik nolinear model asosida baholandi.
Natijalar dividend siyosati va investitsion samaradorlik o‘rtasida teskari U-shaklli bog‘liqlik mavjudligini ko‘rsatdi. Empirik
tahlillar asosida dividend to‘lash qobiliyati koeffitsiyentining maqbul oraliq chegarasi (0,4 ≤ KDT ≤ 0,7) aniqlanib, aynan
shu intervalda kompaniyalarning moliyaviy barqarorligi, aksiyalar rentabelligi va bozor qiymati maksimal darajada
shakllanishi isbotlandi. Tadqiqot natijalari dividend siyosatini optimallashtirish orqali aksiyadorlik jamiyatlarining investitsion
jozibadorligini oshirish hamda ularning uzoq muddatli barqaror rivojlanishini ta’minlash mumkinligini ko‘rsatadi
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