DIGITALIZATION OF INSOLVENCY PROCESSES: THE ROLE OF A UNIFIED ELECTRONIC PLATFORM IN ENSURING TRANSPARENCY AND ECONOMIC EFFICIENCY

Damirjon Soliyev

DIGITALIZATION OF INSOLVENCY PROCESSES: THE ROLE OF A UNIFIED ELECTRONIC PLATFORM IN ENSURING TRANSPARENCY AND ECONOMIC EFFICIENCY

Authors

Damirjon Nurmatovich Soliyev

Keywords:

insolvency, digitalization, unified electronic platform, transparency, economic efficiency, electronic auction, transaction costs, information asymmetry, public register, interoperability.

Abstract

Insolvency proceedings are information-intensive, multi-party processes whose outcomes depend critically
on the transparency and timeliness of the underlying information flows. In many transition economies, these processes
remain paper-based and institutionally fragmented, producing opacity, high transaction costs, delay, discretionary conduct,
and low recovery for creditors. This article examines the role of a unified electronic platform in the digitalization
of insolvency processes and its contribution to transparency and economic efficiency. Using a mixed-methods design
that combines comparative institutional analysis, a transaction-cost and transparency framework, descriptive statistics,
and a multifactor model, the study specifies the architecture of a unified platform — integrating a public insolvency register,
electronic filing and verification of claims, electronic asset auctions, document and case management, electronic
creditor voting, and open reporting and analytics — and analyses the channels through which it affects outcomes. The
results indicate that the level of digitalization is strongly and positively associated with procedural transparency and
economic efficiency, operating through four channels: the reduction of transaction costs, the reduction of information
asymmetry, the intensification of competition at asset sales, and the strengthening of monitoring and accountability.

Author Biography

Damirjon Nurmatovich Soliyev

Lecturer, Department of Marketing and Management
Bukhara State University

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DIGITALIZATION OF INSOLVENCY PROCESSES: THE ROLE OF A UNIFIED ELECTRONIC PLATFORM IN ENSURING TRANSPARENCY AND ECONOMIC EFFICIENCY