CORPORATE GOVERNANCE AS A DRIVER OF INVESTMENT ATTRACTIVENESS AND SUSTAINABLE DEVELOPMENT OF JOINT-STOCK COMPANIES IN UZBEKISTAN

Abstract

Corporate governance has increasingly become a determining factor in enhancing the investment attractiveness and long-term sustainability of joint-stock companies. In the context of Uzbekistan, where economic reforms and capital market development are actively underway, the quality of corporate governance directly influences investor confidence and corporate resilience. This article explores the role of corporate governance in improving investment attractiveness and supporting sustainable development of joint-stock companies in Uzbekistan. Particular attention is paid to governance mechanisms such as board effectiveness, transparency of disclosure, protection of shareholders’ rights, and managerial accountability. The study is based on analytical and comparative approaches, allowing an assessment of existing governance practices and their impact on investment decisions and sustainable growth. The analysis shows that companies with more structured and transparent governance systems demonstrate higher levels of investor trust and better capacity for long-term development. At the same time, several institutional and regulatory challenges continue to limit the full realization of corporate governance potential. The findings suggest that further improvement of corporate governance standards is a key prerequisite for attracting investment and ensuring the sustainable development of joint-stock companies in Uzbekistan