BIBLIOMETRIC RESEARCH ON COMPARATIVE ANALYSIS OF CAPITAL STRUCTURE FINDINGS IN UZBEKISTAN (2019–2025)
Keywords:
capital structure; leverage; Uzbekistan; bibliometric analysis; corporate finance; joint-stock companies; institutional environmentAbstract
This study conducts a comprehensive bibliometric and comparative analysis of capital structure research in Uzbekistan between 2019 and 2025. This period corresponds to accelerated economic reforms, enhanced corporate transparency, and a surge in empirical research on Uzbek firm leverage behavior. Utilizing Google Scholar and academic databases as primary sources, the study identifies empirical contributions focusing on manufacturing, agribusiness, state-owned enterprises, and banking. Foundational works by Uzbek scholars such as Abduvohobov, Dodiyev, and Elmurodov are highlighted for conceptualizing the institutional and financial environment shaping capital-structure decisions. Findings reveal that Uzbek evidence broadly aligns with global leverage determinants—including profitability, size, tangibility, and growth—but also displays unique characteristics driven by a bank-dominated financial system, strong state ownership influence, underdeveloped equity markets, and collateral-based lending. The article maps publication trends, thematic clusters, methodological approaches, and identifies structural determinants, proposing an integrated research agenda for strengthening national corporate finance scholarship.
References
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