ВЛИЯНИЕ ПРИНЦИПОВ ESG НА РЕЗУЛЬТАТЫ ПЕРВИЧНОГО ПУБЛИЧНОГО РАЗМЕЩЕНИЯ АКЦИЙ: КОМПЛЕКСНЫЙ АНАЛИЗ

ВЛИЯНИЕ ПРИНЦИПОВ ESG НА РЕЗУЛЬТАТЫ ПЕРВИЧНОГО ПУБЛИЧНОГО РАЗМЕЩЕНИЯ АКЦИЙ: КОМПЛЕКСНЫЙ АНАЛИЗ

Mualliflar

  • Шахзод Сайдуллаев Ph.D., доцент кафедры «Корпоративные финансы и ценные бумаги», ТГЭУ

Kalit so‘zlar:

ESG, IPO, занижение цен, устойчивое развитие, корпоративное управление, институциональные инвесторы

Annotatsiya

Ushbu tadqiqot 2020–2024 yillar oralig'ida 45 mamlakatda o'tkazilgan 8186
ta IPO namunalaridan foydalangan holda ekologik, ijtimoiy va korporativ javobgarlik (ESG)
tamoyillarining dastlabki ommaviy taklif (IPO) natijalariga ta'sirini tahlil qiladi. Natijalar shuni
ko'rsatadiki, ESG ma'lumotlariga ega kompaniyalar o'rtacha 10,4% past narxni ko'rsatadi, ESG
hisoboti bo'lmagan kompaniyalar uchun esa bu ko'rsatkich 17,4% ni tashkil etadi, bu esa iqtisodiy
jihatdan 7,0 foiz punkt farqni anglatadi. Tadqiqot ESG tamoyillari axborot assimetriyasini
kamaytirish, institutsional investorlarning qiziqishini oshirish va tizimli xavfni kamaytirish orqali
moddiy qiymat yaratishini tasdiqlaydi.

Manbalar

Boulton T.J., Smart S.B., Zutter C.J. Mandatory ESG Disclosure, Information Asymmetry, and Litigation Risk: Evidence from Initial Public Offerings // European Financial Management. – 2024. – Vol. 30, No. 2. – P. 486–521.

Duong H.K., Kalev P.S., Krishnamurti C. Mandatory ESG Disclosure and IPO Underpricing Worldwide // SSRN Electronic Journal. – 2024.

Ernst & Young. EY Global IPO Trends 2024. – EY Global Limited, 2024.

Flammer C. Corporate Green Bonds // Journal of Financial Economics. – 2021. – Vol. 142, No. 2. – P. 499–516.

Gillan S.L., Koch A., Starks L.T. Firms and Social Responsibility: A Review of ESG and CSR Research in Corporate Finance // Journal of Corporate Finance. – 2021. – Vol. 66. – Article 101889.

Jhunjhunwala N. The Impact of ESG Reporting on IPO Performance in India's Pharmaceutical Sector: A Comprehensive Analysis from 2016 to 2023 // International Journal of Economics, Management and Social Sciences. – 2025. – Vol. 12, No. 3. – P. 39–46.

López-de-Silanes F., McCahery J.A., Pudschedl P. Institutional Investors and ESG Preferences // ECGI Finance Working Paper. – 2024. – No. 847/2024.

Pedersen L.H., Fitzgibbons S., Pomorski L. Responsible Investing: The ESG-Efficient Frontier // Journal of Financial Economics. – 2021. – Vol. 142, No. 2. – P. 572–597.

Serafeim G., Yoon A. Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement // The Review of Accounting Studies. – 2023. – Vol. 28, No. 4. – P. 1500–1530.

Nashr etilgan

2025-10-24

Son

Bo‘lim

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