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No. 3 (2026)
Marketing

Ilmiy maqolalar

DIVIDEND SIYOSATI VA KAPITAL OʻSISHI OʻRTASIDAGI BOGʻLIQLIK

Published 2026-04-01

Authors
Norqulov Mirsaid Toʻlqin oʻgʻli
pdf (Uzbek) Google Scholar Google Scholar

Abstract

Mazkur tadqiqotda Oʻzbekiston aksiyadorlik jamiyatlarida dividend siyosati va
kapital oʻsishi oʻrtasidagi bogʻliqlik empirik jihatdan baholandi. Tadqiqotda 2018-
2024-yillar davomida Toshkent respublika fond birjasida listingda boʻlgan 24 ta
kompaniyaning panel maʼlumotlari tahlil qilindi. Fixed Effects regressiya modeli
asosida dividend toʻlov koeffitsiyenti, oʻz kapitali rentabelligi, leveraj va sotuv
oʻsishining kapital oʻsishiga taʼsiri aniqlashtirildi. Natijalar dividend toʻlovlari ortishi
kapital oʻsishi surʼatini pasaytirishini, yuqori rentabellik esa ushbu taʼsirni qisman
muvozanatlashtirishini koʻrsatdi. Tadqiqot asosida emitentlar uchun optimal dividend
siyosati boʻyicha amaliy tavsiyalar ishlab chiqildi. Olingan natijalar korporativ
moliyaviy boshqaruv samaradorligini oshirishda amaliy ahamiyat kasb etdi.

Keywords

dividend siyosati, kapital oʻsishi, aksiyadorlik jamiyati, panel regressiya, ROE, DPR, korporativ moliya, kapital bozori, investitsiya, emitent

References

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