•  
  •  
 

International Finance and Accounting

Abstract

The article is prepared on the current topic-increasing the investment attractiveness of the stock market of Uzbekistan. It provides a critical assessment of the methods used in foreign practice for calculating the market value of shares and the market value of capital, reveals their shortcomings, justifies the complexity of their application in Uzbekistan as a result of the underdevelopment of the stock market of the republic, and develops proposals for adapting the model of discounting dividends to the conditions of Uzbekistan. The authors propose a method for calculating the discount rate for determining the market value of shares in Uzbekistan and countries with similar economies, and give recommendations for its application in conjunction with fundamental and technical methods for analyzing price movements in the market.

References

1. Poslanie Prezidenta Respubliki Uzbekistan Shavkata Mirzijoeva Olij Mazhlisu // http:// http://uzbekistonmet.uz/ru/lists/view/687 2. Sh.Sh. Shoha"zamij, R.R. Abduraupov. Stoimostnaja koncepcija finansovogo upravlenija kompaniej// Problemy sovremennoj jekonomiki, 2015, № 1 s. 143-148. https://cyberleninka.ru/article/n/stoimostnaya-kontseptsiya-finansovogo-upravleniya-kompaniey/viewer 3. Najman Je. -L. Malaja Jenciklopedija Trejdera —K . VIRA-R Al'fa Kapital, 1999. —236 s..il. 134 — Bibliogr - s. 221 4. Dzhon Dzh. Mjerfi «Tehnicheskij analiz f'juchersnyh rynkov: teorija i praktika». M. «Diagramma» 2004. 5. Zvi Bodi, Robert, K. Merton Finansy: per. s angl.: Uch. pos. – M.: Izdatel'skij dom «Vil'jams», 2008. – S 125. 6. Markowitz H. Portfolio Selection // Journal of Finance. Aldan, PA: American Finance Association, 1952. Vol. 7. 7. Analiticheskij obzor po itogam 9 mesjacev 2020 goda RFB «Toshkent» //www.uzse.uz/system/analytics/pdfs/000/000/093/original/market_overview_9_months_2020.pdf?1603371415 8. Fama E., French K.R. The Cross-Section of Expected Stock Returns // Journal of Finance. 1992. № 6. 9. Carhart, M. (1997), ―On Persistence in Mutual Fund Performance,‖ Journal of Finance 52, 57-82. 10. WACC (Weighted Average Cost of Capital): WACC Formula and Real Examples (2018). URL: https://www. wallstreetprep.com/knowledge/wacc-weighted-average-cost-capital-formula-real-examples (accessed on 16.02.2019). 11. Minasyan V.B. Investigation of Iterative Algorithms for Evaluations of Capital Structure and Cost / V.B. Minasyan. – 2013. – (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2349533). 12. Fedotova M.Ju. Ocenka stoimosti biznesa i ispol'zovanie ee rezul'tatov v celjah povyshenija jeffektivnosti dejatel'nosti kompanii // Finansovyj menedzhment, №5 2009. 13. Limitovskij M.A. Model' vlijanija struktury kapitala na cennost' kompanii, osnovannaja na realisticheskih dopushhenijah [Tekst] / M.A. Limitovskij // Korporativnyj finansovyj menedzhment. - 2006. - №1. - S. 36–48. 14. http://www.msfofm.ru/library/108-structure-and-cost-of-capital 15. I. M. Kamnev, A. Ju. Zhulina. Metody obosnovanija stavki diskontirovanija// Problemy uchjota i finansov №2(6) 2012, s.30-35. 16. Kajumov R.I., Ismoilova M.D. Novyj podhod k opredeleniju stoimosti kapitala i stavki diskontirovanija pri ocenke jeffektivnosti investicionnyh proektov// Ilm-fan va innovacion rivozhlanish, 2020, № 2, - S. 12.

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.