Corporate Governance Reforms and Financial Performance Dynamics: Evidence From State-Owned Banks in Uzbekistan
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https://doi.org/10.5281/zenodo.17015021##article.subject##:
Uzbekistan, corporate governance reforms, profitability, ROA, ROE, emerging markets, T-test, state-owned banks.##article.abstract##
Uzbekistan’s banking sector has been experiencing several structural changes these days and it requires
a timely assessment of financial performance from recent reform initiatives. This research evaluates the effect of the
2020–2025 Banking Sector Reform Strategy on state-owned bank profitability, focusing on changes across key financial
performance indicators like Return on Assets (ROA) and Return on Equity (ROE). Using a comparative research design
employing panel data for a seven-year time span (2017–2023), T-tests are utilized to estimate pre- and post-reform performance.
Findings reveal that reforms have yet to result in statistically significant increases in profitability, implying that
their financial effect requires an even longer time frame before being realized. Contributions are made toward the current
debate on banking reforms in emerging markets, and insights are gained for policy makers seeking to improve financial
sector performance through structural reforms
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