caerCentral Asian Economic ReviewCentral Asian Economic Review2789-43982789-4401Университет Нархоз10.52821/2789-4401-2024-2-159-171caer-1143Research ArticleИНВЕСТИЦИИ, ФИНАНСЫ И УЧЕТINVESTMENT, FINANCE AND ACCOUNTINGСтруктура капитала, доходность и риск: исследование малых компаний промышленного сектора Республики КазахстанCapital structure, profitability and risk: a study of small companies in the industrial sector of the Republic of KazakhstanКокееваС. Э.KokeyevaS. E.

Алматы

Almaty

samal.kokeyeva@gmail.com.kzАдамбековаА. А.AdambekovaA. A.

Алматы

Almaty

ainatas0408@gmail.comУниверситет НархозКазахстанNarxoz UniversityKazakhstanКазахский Национальный Университет имени аль-ФарабиКазахстанAl-Farabi Kazakh National UniversityKazakhstan20241607202402159171Copyright © Кокеева С.Э., Адамбекова А.А., 20242024Кокеева С.Э., Адамбекова А.А.Kokeyeva S.E., Adambekova A.A.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://caer.narxoz.kz/jour/article/view/1143   Цель исследования

   Цель исследования. Определение влияния структуры капитала на результаты деятельности малых казахских компаний, осуществляющих деятельность в сфере промышленности.

   Проблема исследования

   Проблема исследования. Постановка проблемы, подлежащая анализу в данном исследовании, заключается в следующем: влияет ли структура капитала на результаты деятельности малых казахстанских компаний, осуществляющих деятельность в сфере промышленности?

   Методология исследования. В данном исследовании использованы данные 30 компаний малых отраслей промышленности Казахстана на основе годовых отчетов за 2012-2022 годы. Общий коэффициент долга рассматривается как независимые переменные, используемые в этом исследовании. Показатель прибыльности, бизнес-риск, налоговая экономичность и возраст компании были приняты в качестве независимых переменных. Статистика, корреляция и многомерная регрессия использовались для анализа данных.

   Оригинальность / ценность исследования. Полученные результаты показали, что заемный капитал подвержен факторам доходности, налогового бремени, бизнес-риска. Существенного влияния возраста предприятия на заемный капитал не выявлено.

   Результаты исследования. Данное исследование дополняет литературу о факторах структуры капитала в развивающихся странах и финансовом состоянии малых предприятий, осуществляющих деятельность в промышленности. Данное исследование будет направлено на изучение потенциальных возможностей использования заемного капитала для повышения прибыльности компании с целью снижения бизнес-рисков.

   The purpose of the study: Determining the impact of the capital structure on small companies’ performance operating in the field of industry in Kazakhstan.

   The problem statement

   The problem statement. The question to be analyzed in this study is: does the capital structure aff ect the performance of small Kazakhstani companies operating in the industrial sector?

   Methodology

   Methodology: In this study, we use data from 30 small industry companies in Kazakhstan based on annual reports for 2012-2022. The total debt ratio is the dependent variable used in this study. Profi tability, business risk, tax efficiency and age of the company were taken as independent variables. Statistics, correlation and multivariate regression were used to analyze the data.

   Originality/value of the study: The results showed that borrowed capital is subject to factors of profi tability, tax burden, and business risk. There was no signifi cant impact of the age of the company on the borrowed capital.

   Relevance

   Relevance: This study complements the literature on capital structure factors in developing countries and the financial condition of small industrial enterprises. This research will be aimed at exploring the potential use of borrowed capital to increase the profi tability of the company to reduce business risks.

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The authors declare that there are no conflicts of interest present.