Masters

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Open Access
Assessment of company bankruptcy
(2019) Bazarov Kh.
The indication of bankruptcy potential as soon and accurate as possible is a significant issue for any organization. Different methods and approaches dre implemented abroad that can find the level of bankruptcy potential in the organization. However, it cannot be said in Kazakhstan, since the bankruptcy is not as studied as it is in western countries. An integrated methodology is one of the ways that help more accurately determine which model is better applied with some specifications of the economy. In this study the comparative approach of different bankruptcy models is implemented. The model of Altman, Springate model, Zavgren and Chesser are reviewed on the sample of Kazakhstani organizations. The comparative approach is based on previous studies of bankruptcy assessment models in other developing countries. This research is dedicated to find which of models are the most relevant to assess bankruptcy potential in Kazakhstani organizations as accurate as possible.The results of analysis in this study are based on real cases of companies in Kazakhstan.
Open Access
Assessment of investments in technology and innovation
(2023) Boranbay R.A.
This dissertation aims to analyze and compare methods for assessing investments in technology and innovation, considering the challenges of a dynamic and uncertain business environment. By examining the impact of these investments on competitiveness and profit growth, the study provides insights to enhance decision-making accuracy and identifies factors influencing the choice of investment assessment methods. Through -qualitative and quantitative research methods, including interviews with CFOs of Kazakhstani companies, the study investigates the use of real options and traditional methods, highlighting the barriers and proposing strategies for increasing adoption. The findings contribute to the field by endorsing financial techniques tailored to the unique characteristics of technology and innovation investments, promoting informed resource allocation and_ better management of risks in a changing market.
Open Access
Capital structure and corporate strategy: An analysis of linkage between them
(2018) Akhat I.
Capital structure decision is considered one of most debated topics in corporate finance, being several theories and empirical studies developed since the irrelevance of financing decisions in value creation of the firm with Modigliani and Miller. Notwithstanding, the puzzle of firm’s financial resources is still unsolved, and there is. not a single theory capable of incorporating all the determinants in this dynamic process . For this reason, the present master thesis aims to introduce a corporate strategy approach in the capital structure decision, focusing on Diversification Strategies. Using a sample of 28 Kazakhstani publicly available companies, from 2012 until 2016, static panel data model was developed for the Leverage measure — Debt/equity ratio — as dependent variables, being Product Diversification introduced as explanatory variables. The results evidence that Product Diversification is not significant in explaining Leverage ratios.
Open Access
Capital structure and firm Profitability: Analysis of Listed firms in Kazakhstan
(2019) Aigel Zh.
Decisions regarding to capital structure is essential one since firm’s profitability affected by such decision. This study is vital for financial managers to understand an effect of Capital Structure on Profitability. The paper was aimed to’ examine relationship between Capital Structure and Profitability of listed firms in Kazakhstan over five years’ period from 2013 to 2017. Secondary data such as audited financial statements were used from randomly selected fifty listed companies in Kazakhstan. Regression analysis, specifically, generalized method of moments (GMM) estimator has been employed in order to analyze an impact of capital structure on firm’s performance. The findings of this Study revealed that a significant negative relationship between total debt ratio and profitability of Kazakhstani listed firms.
Open Access
Cost Forecasting in Organizations
(2023) Nurpeiis A.
In this paper, the economic relationship between oil prices and operating expenses in the E&P sector is examined, along with the implications for capital budgeting and decision-making. We provide empirical evidence that the price and operating costs are positively correlated, and that failing to take this relationship into account has serious repercussions for the valuation of investment projects when using either the conventional Net Present Value (NPV) methodology or the Real Option approach. In the conventional NPV method, projects that are undervalued as a result of ignoring a price-cost correlation tend to be overvalued in Real Options Analysis, and vice versa. Purpose: The objective of the study was to demonstrate the influence of the relationship between oil prices and operating expenses on the assessment of oil prospects, and to highlight the potential consequences of neglecting or underestimating this correlation. Relevance: It presents the importance of ignoring or overlooking the relationship between the price of oil and operational expenditures, which might lead to the wrong decision when investing in a certain project. Key methodological aspects: This paper examines the impact when the pricecost correlation is ignored in the final investment and decision-making process. To investigate this, used the widespread traditional NPV approach and the Real Options Valuation approach. Data was taken from the local Operating company’s one of future projects. Summary of Key Findings: This paper shows that neglecting price-cost correlation has substantial effects, independent of the valuation methodology used (conventional NPV and/or real options approach). Ignoring the price-cost link leads to an overestimation of risk in NPV assessment, which leads to an underestimating of the investment project's value. When genuine option analysis is used, disregarding crosscorrelation results in more volatility and, as a result, exaggerated project values. iv Key conclusion: The final investigation shows that during the decision-making process, it’s important to use various instruments and not to ignore some economic processes that might impact the project's expected outcomes.
Open Access
Determinants of employee engagement and their effect on employee performance
(2024) Abayeva A.
This study investigates the impact of transformational leadership on employee engagement and performance in second-tier banks in East Kazakhstan. Guided by research questions on how transformational leadership affects employee engagement and performance, and the mediating role of engagement. Data from 36 valid observations were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that transformational leadership significantly enhances employee engagement, and higher employee engagement improves performance. Unexpectedly, transformational leadership has a negative direct effect on performance. Employee engagement fully mediates the relationship between transformational leadership and performance. This study contributes to the literature by elucidating the complex relationships between leadership, engagement, and performance, and offers practical insights for improving leadership practices in banks. Future research should explore larger, more diverse samples and other contextual factor.
Open Access
Development of a strategy for the implementation of technologies and innovations in commercial banks of Kazakhstan
(2023) Zhengis Zh.
The purpose of this to explore the current state of technology adoption and innovation in commercial banks in Kazakhstan and identify the challenges they face in implementing these technologies. The research paper aim to understand and recognize the relationship between innovation and financial performance of commercial banks in Kazakhstan. The research considered the theory of Disruptive innovations. Audited Financial reports of twenty-one commercial banks were used in Data analysis. The Dynamic Panel model was used to understand the impact of financial technology innovations to financial performance. Additionally, the research paper could also contribute to the existing literature on technology adoption and innovation in the banking sector in emerging economies.
Open Access
Development of tax system in modern Kazakhstan
(2018) Kereibay N.
Tax system is the main tool to generate financial source forcompetitive existence of any state. Development of the economy of any country and business units growth mostly based on tax system of the country and on existence of favorable conditions. On the other hand, Small and Medium sized enterprises is the main indicator of economy development. The current study uses regression analysis for analyzing the relationship between tax system and SME, measured in amount of taxes by SMEs and number of SMEs registered in country. Additionally, using a sample of 52 small and medium business owners, we indicate the needs of business owners and the main reasons of possible tax non — compliance in country. Based on this study, we offer discussion of why these findings are relevant and make some recommendations.
Open Access
Development of Women's Entrepreneurship on the example of Shymkent
(2024) Mukhamejan A.
This dissertation explores the development of women's entrepreneurship in Shymkent, Kazakhstan, through a detailed narrative analysis. By interviewing 30 women entrepreneurs, this study aims to understand their motivations, challenges, support systems, and strategies for success. The findings reveal that women in Shymkent are driven by both economic necessity and the desire for independence. Financial barriers, cultural norms, and family responsibilities are identified as significant challenges. However, support from family, friends, professional networks, and government programs plays a crucial role in their entrepreneurial journey. The study highlights the importance of continuous learning, networking, and innovation as key strategies for overcoming obstacles and achieving business success. Based on these insights, several recommendations are proposed to enhance the entrepreneurial environment for women in Shymkent. These include improving access to financial resources, promoting gender equality, providing childcare and family support services, and developing robust networking and mentorship programs. The recommendations aim to address the specific needs and challenges faced by women entrepreneurs, fostering a more inclusive and supportive entrepreneurial ecosystem. By implementing these recommendations, policymakers and support organizations can help women entrepreneurs in Shymkent overcome barriers, achieve their business goals, and contribute significantly to the region's economic and social development. This dissertation contributes to the academic understanding of women's entrepreneurship in a specific cultural and economic context and offers practical solutions for enhancing women's entrepreneurial success.
Open Access
Economic intergartion of Kazakhstan in Central Asia
(2019) Makhamedov D.
In this work, a very actual topic: «Integration of Kazakhstan, in Central Asia is being considered».The relevance of the topic is stipulated by the fact that as soon as Central Asian countries gained Independence, there appeared a question about the integration of the States with each other on the political arena in economic socialcultural spheres. The integration process has a lot of difficulties, which appeared with the collapse of the Soviet Union for each former Soviet Republics. Such big countries as USA, China, Russia are greatly interested in Kazakhstan just as another Central Asian States. Similar cultural and historical past the existence common borders with many countries are also of great difficulties, as a result of the difference in cultural, religious, ethnic aspects. Each of the countries seek to take its place under the sun and to have a leading role in the region. ° Besides Integration in Central Asian region, each of these countries tries to integrate in the World Economy. One of the most important factor is the political situation in each of these countries, but in spite of all these difficulties. The integration process is extremely important and is of great interest for the research.
Open Access
Effective brand management in sustainable business environment
(2018) Berdenova A.
This study reviewed the analyze of effect of green approach and brand awareness to customer loyalty in using green products or going green. The research was conduct in order to understand 1.How to develop a brand management in green environment? 2. Importance of green marketing management? In this research green approach and brand awareness are independent variables, and customer loyalty is the dependent variable, also there is mediation between customer loyalty and green approach, and mediator variable is brand awareness. To analyze my diploma work I use Quantitative research, and I surveyed 150 people. Likewise, my analyze includes reliability, multicollinearity, regression and mediation analysis. To gather the needed data we used a questionnaire which has 4 sections; the first section included general questions and demographic questions, the second section question related to green approach, the third part includes questions related to brand awareness, and finally, the fourth part includes questions related to customer loyalty. Questionnaires reliability was estimated by calculating Cronbach’s Alpha, and all of them showed acceptable results. In order test the hypothesis of the research I used regression. The results show that green approach and brand awareness has an impact on customers’ loyalty. It means, through this two independent variables companies can reach a strong customer loyalty if they started to think about sustainable development.
Open Access
Effects of HRM practices on employee job burnout: mediation models: The case of “DOC Co.LTD” employees
(2022) Yermekbayeva P.
The purpose of the research paper is to recognize the significance of HRM practices with mediator Affective commitment and their influence on employee job burnout among the factory workers. This paper was examined on five variables as Job autonomy, Training and development, Job security, Affective commitment and Job burnout. This study took a quantitative method in order to accomplish this goal. A convenient sampling was used, and a survey questionnaire with five - point likert scale, closed-ended questions was formed. Employees were given 52 questionnaires, and 41 valid responses were received. The Statistical Package for the Social Sciences was used to analyze the data (SPSS). Regression and Correlation test techniques were used to determine the results. The study's most important results suggest a significantly negative relationship between HRM practices and employee job burnout. The findings of this research may be very useful for Factory companies in order to reduce job burnout among their employees and promoting that significant contribution to the organization's success as well as the employee's personal success.
Open Access
Employee satisfaction and motivation in Almaty
(2019) Kulzhan S.
This thesis is about motivation and satisfaction of employee in workplace. Nowadays it’s a lot of factors can affect to the motivation of employee and their satisfaction with work. Sothe aim for this thesis is to determine the factors that affect to motivation and satisfaction of employee at work place, in case of Almaty. The aim is going to be achieved by exploring literature about motivation and satisfaction, how they affect to organizations, what factors can affect to them and so on.
Open Access
Establishing a corporate strategy in a banking industry
(2019) Muratkhanov D.
Development of the strategy is a key element of the succéss and sustainability of any bank in the financial market. Unfortunately, not many financial institutions have a clear development strategy, thereby endangering the very existence of a bank. Taking _ into account the increasing number of defaults in the financial market of Kazakhstan over the past four years. associated with poor-quality risk management system, the presence of a high share of overdue loans and the lack of a clear development strategy, We see the necessity to develop an appropriate methodology that financial experts can use as a reference when drawing up a development strategy for a bank. This work is based on an analysis of the development strategies of financial institutions operating in the financial market of Kazakhstan. The results of the analysis in this study can be used in drawing up the development strategy of banks, and can also be used by teachers of universities and colleges teaching banking classes.
Open Access
Exploring factors that motivate women to become entrepreneurs in Kazakhstan
(2024) Takhar D.
This dissertation explores the multifaceted factors motivating women to become entrepreneurs in Kazakhstan. The purpose of this research is to gain a deeper understanding of the drivers that influence women's entrepreneurial aspirations and activities in a rapidly changing socio-economic landscape. A comprehensive literature review is conducted to establish the theoretical underpinnings of the study. Analysis from 20 in-depth interviews with female Kazakhstani entrepreneurs advances institutional theory by developing a framework of female entrepreneurial motivations. The conceptual framework and methodology for data collection and analysis are presented, followed by an analysis of findings. The dissertation concludes by summarizing the key motivations identified and their implications for fostering women's entrepreneurship in Kazakhstan.
Open Access
Exploring HRM practices under macro-level turbulence: A qualitative study
(2023) Meyrambek A.Y.
The economic crisis that is resulted from the military actions of the two states (Russia and Ukraine) is affecting the global and local economy. Economic crises tend to place pressure on cutting costs, such as labour costs, resulting in salary reductions, reduction in monetary motivation, short-term work, and reduction in training (Gunnigle et al., 2013; Johnstone, 2018; Zagelmeyer et al., 2012), by that affecting the HRM practices of the company. Thus, the primary goal of this research is to gain an understanding of how the current economic crisis has impacted the HRM practices, such as recruitment and selection, reward systems, training and development, and performance appraisal in Kazakhstani small medium enterprises. The nature of this research paper is exploratory, that’s why the methodology that is used is qualitative method. The primary data was collected by conducting six semistructured in-depth interviews. The interviews will shed light to the overall picture of how current state of the economy is affecting the human resource practices in the Kazakhstani small-medium enterprises.
Open Access
Exploring problems and opportunities for entrepreneurship development in the Republic of Kazakhstan
(2023) Ospanov A.
This study analyzes the current state of entrepreneurship in the Republic of Kazakhstan, identifies its main problems and presents ways of further development of Kazakhstani business. Private entrepreneurship is one of the main conditions for a stable and secure economic situation of the state. Researchers point to the freedom of entrepreneurship as one of the factors of sustainable development. The wealth and high technological development of Western countries are provided largely at the expense of private business. The contribution of small and medium-sized businesses to the gross national product in developed countries is up to 90%. In the Republic of Kazakhstan, the share of small and medium-sized businesses in the economy is much smaller. However, the number of small and medium-sized enterprises, as well as their contribution to the national wealth, has been steadily growing in recent decades. We conducted a sociological survey of the problems of private entrepreneurs – representatives of small and medium-sized businesses. A number of problems were identified, which, according to the respondents, hinder the development of entrepreneurship in Kazakhstan. This is a lack of financial resources for entrepreneurs, difficulties in obtaining loans and loans; lack of qualified personnel; insufficiently developed infrastructure and other reasons. To solve the problems, a number of measures are required to support entrepreneurs from the state. This is a complex of legislative, economic, scientific, technological, and social measures. The study contains 40 pages, 2 tables, 12 figures, a list of sources consisting of 19 titles, an appendix.
Open Access
Exploring the Role of HRM Practices on Employee Well-Being
(2024) Qaswa binte Firdous Wani
This qualitative study tries to understand the role human resource management practices play on employee wellbeing in the context of higher education institutions in Kazakhstan. It mainly focused on two institutions namely SDU university in Almaty, Kazakhstan and Maqsut Narikbayev University in Astana, Kazakhstan. The study attempts to explore the interplay of dynamics between HRM practices and employee wellbeing, which has not been investigated in this context in the literature. This was done through combining grounded theory (Gioia, 2013) and the Eisenhardt Method (Eisenhardt, 2021) approaches. Significant findings of the research disclose that firstly, emphasis of SDU university is on inclusive and friendly community. The university establishes a welcoming atmosphere by hosting regular social activities and having a culture of acknowledgement. In comparison, the main priority of MNU seems to be employee’s autonomy and leadership. The intern empowers staff with independence and trust in managerial and administrative decisions. General challenge that both universities are facing is mainly healthcare and clear communication that is negatively influencing morale and wellbeing of employees. This study sides with the previous studies that highlight the importance of effective HRM practices for increasing the well-being of employees. While promoting the need for better healthcare, communication and establishment of better work-life balance in the institutions. By taking action regarding these problems, the institutions can improve and increase their already successful organizations. It will result in enhanced culture, employee engagement and positive workplace environment of the organization conducive to sustainable growth and development.
Open Access
Exporing Human Resource Management Practices in Small and Medium-Sized Enterprises
(2024) Tumysheva I.
This dissertation examines the personnel policy of "Saparzhay-Astana" LLP, a representative SME in Kazakhstan, amidst the broader context of evolving HRM practices within small and medium enterprises (SMEs). The study identifies key challenges in the organization's HRM, impacting both operational efficiency and employee satisfaction. Central to the research is a comprehensive analysis of current HRM practices at "Saparzhay-Astana" LLP, emphasizing strengths in personnel planning and corporate culture, while highlighting deficiencies in personnel promotion, motivation systems, and recruitment processes. These findings underscore the critical need for tailored HRM strategies that address the unique organizational dynamics of SMEs in Kazakhstan. Based on the analysis, strategic recommendations are proposed to enhance the personnel policy of "Saparzhay-Astana" LLP. These include the establishment of a robust personnel reserve, restructuring of incentive systems to encompass both material and intangible rewards, implementation of structured career planning frameworks, and introduction of mentoring programs. These initiatives aim to optimize workforce management, foster employee development, and mitigate turnover risks, thereby ensuring sustainable organizational growth. The research contributes to both theoretical and practical dimensions of HRM literature by providing insights into the complexities of personnel management in Kazakhstani SMEs. By bridging empirical findings with strategic recommendations, this study offers a framework for improving HRM practices not only within "Saparzhay-Astana" LLP but also for similar organizations facing comparable challenges globally.
Open Access
Factors affecting labor intention to leave: in the case study of Suleyman Demirel University
(2022) Shakenova A.
This is one of the few studies on human resource management in higher education institutions, not only in the Republic of Kazakhstan, but on a global scale as well. One of the most important objectives for many organizations is to attract, hire, and retain highly qualified personnel. Considering the scarcity of employees in the labor market of the country, whose universities rely on their teaching staff as their primary source of human capital, the retention of personnel is a top priority. Using one of the Kazakh universities as a case analysis, the purpose of this research is to identify the most important factors influencing an employee's intention to leave. In order to accomplish this, the six main factors of an employee's intention to leave are analyzed in-depth: employees’ perseption of support, employees’ perseption of commitment, employees’ perseption of complexity, job engagement, job satisfaction, and the availability of alternative job opportunities. The results of the study can be used to reduce the percentage of layoffs and maintain a qualified staff at the university, as well as serve as a model for other universities in the Republic of Kazakhstan.