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No. 9 (2026)
Marketing

Scientific articles

KORXONA RAQOBATBARDOSHLIGINI TAʼMINLASHDA MOLIYAVIY VOSITALARNI OPTIMAL TANLASHNING USLUBIY JIHATLARI

DOI 10.67668/mj/2026iss9/2104 Pages 697-708

Published 2026-09-07

Authors
Abdumurotov Shohruh Shavkat oʻgʻli
Affiliation
Tashkent Institute of Textile and Light Industry image/svg+xml
Marketing jurnali — 2026-yil sentabr, 9-son
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Abstract

The article improves the multi-criteria methodology for selecting financial instruments to ensure the competitiveness of an enterprise. The study is based on the theoretical approaches of the authorʼs PhD dissertation, the financial indicators and the results of the analysis of hierarchies of “Grand Techno Master” LLC for 2018-2022. A five-stage mechanism combining financial diagnostics, expert assessment, pair comparison, integral prioritization and result monitoring is proposed. The fact that alternative K1 takes the first place with a priority of 0.452 in the AHP calculations is explained by the need to strengthen financial independence in the enterprise. In order to develop the methodology, a priority coefficient adjusted for financial risk and a decision recalibration cycle were introduced. The results show that a financial instrument should be selected comprehensively not only by the cost of capital, but also by risk, capital structure, investment objective and impact on competitiveness. The findings can be used by electrical engineering enterprises to select financing sources, balance the capital structure and improve the validity of financial decisions.

Keywords

enterprise competitiveness, financial instrument, financial engineering, hierarchy analysis, AHP, financial independence, financial risk, capital structure

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