BUSINESS VALUATION IN THE CONTEXT OF DIGITAL TRANSFORMATION: THE CASE OF UZBEKISTAN

Abstract

Digital transformation has become one of the most important drivers of change in modern economies. Companies increasingly adopt digital technologies such as artificial intelligence, big data, cloud computing, and digital platforms to improve efficiency, competitiveness, and customer experience. These changes significantly affect how businesses create value and, consequently, how they should be valued. Traditional valuation methods often fail to fully capture the impact of digital assets, intangible resources, and platform-based business models.

This article examines the impact of digital transformation on business valuation, with a particular focus on Uzbekistan as an emerging economy. Using the IMRAD framework, the study analyzes key challenges in valuing digitally transformed companies, discusses methodological problems, and proposes practical solutions and recommendations. The results show that digital transformation increases the importance of intangible assets, changes risk profiles, affects cash flows, and requires adjustments to traditional valuation models. The article concludes that successful integration of digital factors into valuation practices is essential for accurate and fair business valuation in Uzbekistan.