Akramjon Karimov,
PhD, Associate Professor of the Department of Corporate Finance and Securities,
Tashkent Institute of Finance, Tashkent, Uzbekistan.
Email: akram_karimov@tfi.uz
ORCID: 0000-0001-9426-8777
Abstract. This article presents a scientific proposal and practical recommendations for the development of the stock market, bringing foreign and local investors to it and ensuring their activity, improving the industry based on the study of international practice. The experiences of the economical developed and developing countries of the practice of stock and bond markets are studied, and the aspects specific to the economy of our country are justified. Also, the indicators of financial efficiency of the implementation of projects in companies through the process of mass placement of securities were methodologically analyzed. The level of capitalization of the companies in the international stock markets and their current profitability indicators have been examined, and the incomparable role of the stock market in the development of large corporations in the USA and China is currently being demonstrated. For this reason, in the development of the national economy, it is important to study foreign experiences scientifically and to form the national principles and working mechanism of the stock market on this basis. In the article, the analysis and recommendations of scientists in the field of economics on attracting investors to the stock market, the importance of the stock market in the national economy, and high liquidity instruments are studied. During the scientific research, types of financial instruments in foreign and national stock markets and transactions related to them were analyzed. In particular, in this direction, the results of trade related to state securities and corporate bonds were reported by country. The amount of financial instruments and the high level of profitability in the development of the stock market in Uzbekistan, the role of derivative securities in attracting investors were considered based on the analysis.
Keywords: Stock market, share, bond, market capitalization, securities, IPO, SPO, capital market, investor, foreign investment, fixed income securities market, financial instrument, financial asset.