EMERGING TRENDS IN THE FORMATION OF CAPITAL STRUCTURE IN JOINT-STOCK COMPANIES: AN EMPIRICAL ANALYSIS OF FINANCIAL EFFICIENCY AND ASSET UTILIZATION
Abstract
This study explores emerging trends in the formation of capital structure within joint-stock companies in Uzbekistan, emphasizing the impact of equity composition on operational efficiency as measured by Return on Assets (ROA). Against the backdrop of ongoing liberal economic reforms and enterprise modernization, firms are increasingly focused on optimizing the balance between equity and liabilities to enhance financial independence and performance sustainability. The findings highlight how variations in equity components influence operational efficiency, with implications for corporate financial independence and sustainable growth.
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