Assessment of Financial Security of Joint-Stock Companies: The Case of Uzbekistan

Abstract

In this chapter, the authors evaluated the financial security of “Kvarts” Joint-Stock Company (JSC) and “Kattakurgan oil” JSC operating in Uzbekistan, considering external factors. The authors tested two main hypotheses. According to the first hypothesis, the statistical panel model, which considers fixed effects and random effects in the cross section, is estimated using the least squares method of the cumulative model. Regression analysis is used in the panel data model. It is desirable to perform the calculation using the method of least squares in this model as well. According to the alternative hypothesis, it is a dynamic panel model. This model studies the dependence of the independent variable in the previous period. If there is an autocorrelation of the residual between the predicted independent variable and the actual independent variable in the regression line of the statistical panel model, then the dynamic panel model is used by the lagged independent variable. Based on the official reports of “Kvarts” JSC and “Kattakurgon oil” JSC, the authors created panel regression model indicators based on financial security indicators using the Eviews-9.0 program. Moreover, the authors developed forecast indicators of their financial security status indicators until 2025.

Citation

Burkhanov, A.U., Tursunov, B.O., Usmonov, B. and Mamayusupova, S.U. (2024), "Assessment of Financial Security of Joint-Stock Companies: The Case of Uzbekistan", Eshov, M.P., Abdurakhmanova, G.K., Burkhanov, A.U., Abdusalomova, N.B. and Ergasheva, S.T. (Ed.) Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS (Advanced Series in Management, Vol. 33B), Emerald Publishing Limited, Leeds, pp. 205-213. https://doi.org/10.1108/S1877-63612024000033B026