Evaluation of Efficiency of Capital Management in Joint-Stock Companies in the Chemical Sector: The Case of Uzbekistan

The research is devoted to the theoretical foundations of capital management efficiency based on the existing management problems in joint-stock companies. The author develops conclusions and recommendations for improving the efficiency of capital management. The research analyzes the capital management status of a joint-stock company using indicators that show the enterprise's capital efficiency, the seasonality of the chemical industry, low profitability, high turnover of working capital, and other peculiarities. The methodology presented in this research allows chemical enterprises to assess capital efficiency. In this research, the author created a regression model based on the financial data of enterprises, approaching the existing methodology in the world, and analyzed the specific situation that affects the growth of enterprise assets. According to the six-year financial data for “Farg'onaazot” Joint Stock Company (JSC) and “Bekabadcement” JSC, the author concludes that the ratio for the last three years shows a satisfactory level in the remaining indicators despite recording a good result, indicating that capital management is not reasonable. The practical significance of this research is that the results obtained will serve to improve the financial management of enterprises in the chemical industry.