TIJORAT BANKLARIDA EMISSIYA FAOLIYATINING TASHKILIY-METODOLOGIK ASOSLARI: XALQARO TAJRIBA VA O‘ZBEKISTON AMALIYOTI
DOI:
https://doi.org/10.5281/zenodo.23157253Keywords:
tijorat banki, bank emissiyasi, qimmatli qog‘ozlar, emissiya prospekti, yevroobligatsiyalar, anderrayting, bookbuilding, axborot assimetriyasi, kapital yetarliligi.Abstract
Ushbu tadqiqot tijorat banklarining fond bozorida o‘z qimmatli qog‘ozlarini chiqarish faoliyatini tashkil etishning nazariy, me’yoriy-huquqiy va uslubiy masalalariga bag‘ishlangan. Bank emissiyasi ikki yo‘nalish – kapitalni ko‘paytirishga xizmat qiluvchi aksiyalar va qarz majburiyatlarini yuzaga keltiruvchi oddiy, subordinar hamda gibrid obligatsiyalar kesimida o‘rganilib, jarayon bosqichlari, prospektga qo‘yiladigan talablar va anderrayting shakllari asoslangan. Axborot assimetriyasi va signallar nazariyasiga tayanib, emissiya prospektining bozorga axborot yetkazuvchi signal sifatidagi roli yoritilgan. Emissiyani tashkil etishning besh bosqichli sikl modeli taklif etilib, uning yordamida mahalliy banklarning 2019–2025-yillarda xalqaro bozorlarda joylashtirgan yevroobligatsiyalari tahlil qilingan. Natijada emissiya faolligi bir nechta yirik bankda jamlanganligi ko‘rsatilib, prospektlar sifatini baholovchi “oshkoralik reytingi”ni joriy etish tavsiya qilingan.
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