AKSIYADORLIK JAMIYATLARIDA INVESTITSIYA LOYIHALARINI MOLIYALASHTIRISHDA “KAPITAL MAJBURIYATLAR — LIKVIDLIK — ERKIN PUL OQIMI” MUVOZANATINI TA’MINLASH MODELI
DOI:
https://doi.org/10.5281/zenodo.21897439Abstract
Maqolada aksiyadorlik jamiyatlarida investitsiya loyihalarini moliyalashtirishda «kapital majburiyatlar —
likvidlik — erkin pul oqimi» muvozanatini ta’minlash modeli taklif etilgan. Model operatsion faoliyatdan sof pul oqimini
uchta raqobatlashuvchi yo‘nalish — kapital qo‘yilmalar, dividend to‘lovlari va qarzlarni qaytarish o‘rtasida taqsimlash jarayonini
rasmiylashtiradi hamda muvozanat holatini baholovchi beshta koeffitsiyentlar tizimini o‘z ichiga oladi. Model «Navoiy
kon-metallurgiya kombinati» AJ amaliyotida sinovdan o‘tkazilgan. Natijada 2025-yilda 2024-yilga nisbatan operatsion
faoliyatdan sof pul oqimi 2 702 mln AQSh dollaridan 4 652 mln dollarga (+72,2 %), asosiy vositalar xaridi 914 mln dollardan
1 019 mln dollarga (+11,5 %), dividend to‘lovlari 1 731 mln dollardan 3 204 mln dollarga (+85,1 %) oshgan, qarzlarni
qaytarish esa 1 214 mln dollardan 1 138 mln dollarga (−6,3 %) kamaygan. Pul oqimi taqchilligi 1 157 mln dollardan 709
mln dollarga, ya’ni 38,7 foizga qisqargan, kapital majburiyatlarni qoplash koeffitsiyenti 0,700 dan 0,868 gacha ko‘tarilgan
Keywords
investitsiya loyihasi, kapital majburiyatlar, likvidlik, erkin pul oqimi, operatsion pul oqimi, dividend bosimi, qarzlarni qaytarish jadvali, qoplash koeffitsiyenti, moliyaviy moslashuvchanlik, aksiyadorlik jamiyatiReferences
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