The Journal of Asian Finance, Economics and Business

Korea Distribution Science Association (한국유통과학회)
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Efficiency of Financing High-Tech Industries: The Case of Kazakhstan

  • SADYKHANOVA, Gulnara (Economics Department, Higher School of Economics and Business, Al-Farabi Kazakh National University) ;
  • EREZHEPOVA, Aiman (Economics Department, Higher School of Economics and Business, Al-Farabi Kazakh National University) ;
  • NURMANOVA, Biken (Economics Department, Higher School of Economics and Business, Al-Farabi Kazakh National University) ;
  • AITBEMBETOVA, Aida (Economics Department, Higher School of Economics and Business, Al-Farabi Kazakh National University) ;
  • BIMENDIYEVA, Laila (Economics Department, Higher School of Economics and Business, Al-Farabi Kazakh National University)
  • Received : 2019.07.06
  • Accepted : 2019.09.30
  • Published : 2019.11.30
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Abstract

The study aims to build a model for evaluating the effectiveness of activities and the effectiveness of financial investments in high-tech industries in Kazakhstan. The development of high-tech industries plays an important role in the economic growth of a country. In this regard, it is relevant to study the effectiveness of financing the most important industry in Kazakhstan. The development of the high-tech sector ensures the efficient functioning of the national innovation system. High-tech enterprises are one of the competitive sectors that allow us to develop and implement leading-edge innovations with the goal of their subsequent commercialization domestically and abroad. The author defines the multicriteria of efficiency in a knowledge-based economy associated with achieving an economic effect with multivariate correlation of results with costs. A multivariate dynamic model, an integral indicator of performance, an integral indicator of cost-effectiveness is proposed. The assessment of the effectiveness of financial costs and performance indicators in all regions of Kazakhstan have the positive dynamics of indicators, as well as a high economic effect. The results of the study can be applied in regional management to adequately assess the effectiveness of high-tech organizations and the effectiveness of financial investments, contribution to ensuring the economic security of the region.

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