caerCentral Asian Economic ReviewCentral Asian Economic Review2789-43982789-4401Университет Нархоз10.52821/2789-4401-2022-3-113-122caer-496Research ArticleИНВЕСТИЦИИ, ФИНАНСЫ И УЧЕТINVESTMENT, FINANCE AND ACCOUNTINGДЕТЕРМИНАНТЫ ПРИБЫЛЬНОСТИ КОМПАНИЙ ПО НЕДВИЖИМОСТИ: ИСПОЛЬЗУЯ ПОДХОД ОБОБЩЁННОГО МЕТОДА НАИМЕНЬШИХ КВАДРАТОВDETERMINANTS OF PROFITABILITY OF REAL ESTATE COMPANIES: FGLS APPROACH EMPLOYEDhttps://orcid.org/0000-0002-0212-0538ФайзулаевА.FaizulayevA.

Алматы

Alimshan Faizulayev – Ph.D., Assistant Professor, Research Director, Bang College of Business

Almaty

a.faizulayev@kimep.kzРекемубикеА.RekemubiekeA.

Алматы

Ayididaer Rekemubieke – Master student

Almaty

ayididaer.aekemubieke@kimep.kzЧапарН.CaparN.

Алматы

Nejat Capar – Ph.D., Assistant Professor, Acting Dean of the Bang College of Business

Almaty

ncapar@kimep.kzУниверситет КИМЭПКазахстанKIMEP UniversityKazakhstan20221209202203113122Copyright © Файзулаев А., Рекемубике А., Чапар Н., 20222022Файзулаев А., Рекемубике А., Чапар Н.Faizulayev A., Rekemubieke A., Capar N.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/496

Цель исследования: Целью данной научной работы является эмпирическое исследование специфических для фирмы и макроэкономических факторов, влияющих на финансовые показатели компаний по недвижимости в США и Великобритании.Оригинальность / ценность исследования: Эта эмпирическая работа имеет двойной вклад. Прежде всего, это первое исследование, в котором специфические и макроэкономические переменные используются для определения прибыльности компаний, занимающихся недвижимостью в США и Великобритании, после периода глобального финансового кризиса. Во-вторых, насколько нам известно, нет ни одного исследования, в котором для определения прибыльности использовалась бы переменная политической стабильности.Методология исследования: Чтобы эмпирически исследовать взаимосвязь между зависимыми и независимыми переменными, мы провели регрессионный анализ. Для коррекции автокорреляции и гетероскедастичности используется допустимый обобщенный метод наименьших квадратов (ДОМНК).Результаты исследования: Было установлено, что достаточность и структура капитала, а также эффективность управления и ставка корпоративного налога оказывают сильное и значительное влияние на финансовые показатели компаний, занимающихся недвижимостью.

The purpose of this research: The aim of this scientific work is empirically investigate the firm specific and macroeconomic factors that influence the financial performance of real estate companies in the US and UK.Originality / value of the research: The contribution of this empirical work is twofold. First of all, it is the first study where specific and macroeconomic variables are used to determine profitability of the real estate companies in US and UK, after global financial crisis period. Secondly, up to our best knowledge there is no study that employed political stability variable to determine profitability.Methodology: To empirically investigate the relationship between the dependent and independent variables, we conducted regression analysis. To correct for autocorrelation and heteroscedasticity, feasible generalized least square (FGLS) model is employed.Findings: Capital adequacy and capital structure, as well as management efficiency and corporate tax rate, were found to have a strong and significant impact on the financial performance of the real estate companies.

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