caerCentral Asian Economic ReviewCentral Asian Economic Review2789-43982789-4401Университет Нархоз10.52821/2789-4401-2024-6-217-230caer-1348Research ArticleИНВЕСТИЦИИ, ФИНАНСЫ И УЧЕТINVESTMENT, FINANCE AND ACCOUNTINGАнализ стоимости акций с помощью фундаментального анализа: информация от Казахстанской фондовой биржи (KASE)Analyzin the worth of stocks through fundamental analysis: insights from the Kazakhstan stock exchange (KASE)https://orcid.org/0009-0000-4066-8281АкиноваЖ.AkinovaZh.

Алматы

Akinova Zhanar,

Almaty

zhanar.akinova@kimep.kzhttps://orcid.org/0000-0002-0212-0538ФайзулаевА.FaizulayevA.

Алматы

Faizulayev Alimshan – PhD in Finance, 

Almaty

a.faizulayev@kimep.kzhttps://orcid.org/0009-0002-9839-9066КабильдиноваЕ.KabildinovaY.

Алматы

Kabildinova Yelara – Bachelor of Accounting and Audit, 

Almaty

yelara.kabildinova@kimep.kzУниверситет КИМЭПКазахстанKIMEP UniversityKazakhstan20240403202506217230Copyright © Акинова Ж., Файзулаев А., Кабильдинова Е., 20252025Акинова Ж., Файзулаев А., Кабильдинова Е.Akinova Z., Faizulayev A., Kabildinova Y.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/1348

Цель статьи – подготовка рекомендаций для обоснованных сигналов на покупку или продажу, способствующих принятию обоснованных инвестиционных решений.

Методологией данной статьи послужили теоретические и эмпирические методы исследования: комплексный анализ стоимость казахстанского фондового рынка, а также использование коэффициентов, полученных в результате множественного регрессионного анализа и рассмотрение ключевых факторов стоимости для индекса KASE по состоянию на 15 ноября 2023 года.

Оригинальность/ценность исследования – в настоящее время вокруг практики выбора ценных бумаг и фундаментального анализа существует множество заблуждений, в основном проистекающих из ошибочной веры в то, что вся доступная информация точно учитывается в ценах на ценные бумаги. Тем не менее фундаментальный анализ сохраняет свою ключевую роль в оценке финансовой устойчивости ценных бумаг, особенно в сфере долгосрочных инвестиционных стратегий.

Результаты исследования – на основе анализа акций с акцентом на доходность (EY), соотношение PE к цене (PEP), а также соотношение к рыночной цене (B/P), была выявлена достаточно высокая цена за акции KZTO KZ и KEGC KZ, и также было выявлено что акции KCEL KZ и KAP KZ имеют привлекательные возможности для инвесторов в долгосрочной перспективе. Мы считаем, что предоставленная информация имеет практическое значение для инвесторов и трейдеров, которые имеют цель оптимизировать процесс принятия решений и общую торговую стратегию.

The purpose of the article is furnishing recommendations for judicious buy or sell signals conducive to informed investment decisions.

The methodology of this article was based on theoretical and empirical research methods: a comprehensive analysis of the value of Kazakhstan stock market, as well as the the utilization of coefficients derived from a multiple regression analysis and the consideration of key value drivers for the KASE Index, as of November 15, 2023.

Originality/value of the research: Nowadays there exists a multitude of misconceptions surrounding the practices of security selection and fundamental analysis, predominantly emanating from the fallacious belief that the entirety of available information is accurately incorporated into security prices. Nevertheless, fundamental analysis retains its pivotal role in evaluating the financial robustness of securities, particularly within the realm of long-term investment strategies.

Conclusion: Based on the analysis of KASE Index stocks with a focus on Earnings Yield (EY), PE Ratio to Price (PEP ratio) as well as B/P ratio, it was found that KZTO KZ and KEGC KZ shares are fairly priced and it was also found that KCEL KZ and KAP KZ shares have attractive opportunities for investors in the long term. We believe that the information provided is of practical importance for investors and traders who aim to optimise their decision-making process and overall trading strategy.

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