Apysheva Assel Anuarbekovna, born in 1976, Kazakh, Candidate of Economic Sciences, Associate Professor of Finance and Accounting Department of S. Amanzholov East Kazakhstan State University. Graduated from East Kazakhstan State University in 1998 with a degree in Economics and Management. In 2010, she defended her PhD thesis in the specialty "08.00.05 – Economics and management of the national economy (by branches and spheres of activity" on the topic "Turistik firmalar kyzmetindegi marketing zhetildiru (SHKO turistik firmalar mysalynda). From 2002 to the present, he has been working at the NAO "S. Amanzholov East Kazakhstan University". In 2010, she was transferred to the position of Associate Professor (Associate Professor) of the Department of Management and Marketing of S. Amanzholov EKSU. The total experience of scientific and pedagogical work is 25 years, including the experience of scientific and pedagogical work in higher educational institutions - 23 years. During her time at.
EDUCATION
Высшее экономическое
RESEARCH, TEACHING, or OTHER INTERESTS
General Business, Management and Accounting, Economics, Econometrics and Finance, Tourism, Leisure and Hospitality Management, General Economics, Econometrics and Finance
10
Scopus Publications
Scopus Publications
Cross-Industry Analysis of the Hotel and Restaurant Sector’s Contribution to Kazakhstan’s Economy M. B. Idryshov, A. A. Apysheva, K. Zh. Sholpanbayeva Economy Strategy and Practice, 2025 Today, tourism and the hospitality industry are playing an increasingly important role in the economy of Kazakhstan, creating multiplier effects and contributing to the development of related industries. The aim of the study is to quantify the impact of final demand for the hotel and restaurant sectors on the economy based on the intersectoral balance model. Annual statistical reports from the Bureau of National Statistics of Kazakhstan were used as initial data, aggregated into 15 broad industries. Methods were used to calculate coefficients of direct and total costs, output multipliers, income multipliers and value-added, as well as indices of direct and inverse intersectoral relations based on the Leontief model. Results showed that the hotel-restaurant sector had the greatest multiplier effect, with a multiplier of 2.929 for output and 0.691 for income. The value added multiplier was 1.686. The values obtained reflect a high degree of interconnection between the sector and other industries, and its ability to produce a significant cumulative economic impact with increased final demand. The findings of the study highlight the importance of the hotel and restaurant sector as one of the key drivers of economic growth, especially in terms of creating added value and stimulating employment. Practical significance lies in strengthening internal cooperation, which can further enhance the effect of increasing final demand for hospitality services. Future research could include the development of dynamic and hybrid approaches to account for changes in structure, price effects, and technology in supply chains.
Analysis of the Investment Potential of the Stock Market and its Impact on the Banking System Aigerim Gazaliyeva Montenegrin Journal of Economics, 2025 Studying the investment potential of the stock market and its impact on the banking system allows us to identify important trends and risks, promotes more informed decision-making and increases the stability of financial systems.In a rapidly changing global landscape, such research is essential to ensure stable and prosperous economies.The purpose of the study is a comprehensive analysis of the investment potential of the stock market and its impact on the banking system in order to develop recommendations for optimizing investment strategies and strengthening financial stability.The stock market has significant investment potential, which has a positive impact on the banking system, improving its liquidity, creditworthiness and stability, subject to favorable macroeconomic conditions and a stable political and regulatory environment.However, sharp fluctuations in the stock market can lead to an increase in risks and negatively affect the banking system.Testing the hypothesis will allow us to identify key factors influencing the investment potential of the stock market and its interaction with the banking system, contributing to the development of an effective risk management strategy and improving financial stability.The study confirmed the hypothesis about the significant impact of the investment potential of the stock market on the banking system.During periods of economic growth and a stable political and regulatory environment, stock market growth helps improve the financial condition of banks, increasing their liquidity and creditworthiness.However, high volatility and sharp fluctuations in the stock market increase risks for banks, negatively affecting their stability.
IDENTIFYING THE PROSPECTS FOR SUSTAINABLE DEVELOPMENT OF THE DAIRY SECTOR Alma Baiguzhinova, Assel Apysheva, Almira Saktayeva, Yerzhan Domalatov, Dinara Mamyrbekova, Tursynzada Kuangaliyeva, Raikhan Mugauina Eastern European Journal of Enterprise Technologies, 2025 The dairy sector represents a fundamental component of the agro-industrial complex, ensuring food security and contributing to the sustainable development of rural areas. The object of the study is the dairy industry of the Republic of Kazakhstan, while the core problem addressed is the need to enhance its resilience under conditions of limited investment attractiveness, weak infrastructure, and structural imbalance between production and processing capacities. The research results reveal a set of systemic problems: insufficient breeding practices, shortage of high-quality fodder, underdeveloped milk processing facilities, and low competitiveness of dairy products in international markets. Quantitative analysis has shown that the average milk yield per cow remains at 2,400–2,600 kg per year, which is 2.5–3 times lower than in leading dairy-producing countries. In addition, only 65–70% of raw milk is processed at industrial facilities, leaving a significant share in the informal sector. The interpretation of the findings demonstrates that the successful development of the dairy sector depends on a systemic approach to resource efficiency, technological modernization, and the establishment of a balanced agricultural policy. A distinctive feature of the study is the comprehensive assessment of institutional and technological factors, which allowed the identification of sustainable mechanisms for improving both milk production and processing efficiency. The practical significance of the results lies in their applicability for the development of state support strategies for the agro-industrial complex, the design of regional agricultural modernization programs, as well as the activities of dairy processing enterprises focused on export promotion and strengthening domestic competitiveness
IDENTIFYING THE FINANCIAL AND ECONOMIC ADVANTAGES OF INTEGRATED USE OF MINERAL RAW MATERIALS AT THE ENTERPRISE Tana Abylaikhanova, Zhadyra Kinasheva, Aliya Dossanova, Mainur Ordabayeva, Yerzhan Domalatov, Raikhan Mugauina, Assel Apysheva, Gulnafiz Bekbussinova Eastern European Journal of Enterprise Technologies, 2025 The object of the study is financial and economic indicators of the integrated use of mineral raw materials at the enterprise. The problem of economic substantiation of the feasibility of integrated use of mineral raw materials at the microeconomic level, which is urgent for the creation of a green economy, has been solved. The analysis demonstrates high financial and economic efficiency of the proposed solution. The average 10-year OIBDA to revenue ratio is 55.0 %, net profit to revenue ratio is 30 % and IRR is 23.79 %, which ensures high sustainability of the project in terms of operating activities and allows its financing at the expense of revenue. Although the project requires substantial investments, it is characterized by a relatively quick payback period: 5 years and 8 months at a WACC rate of 15 %. This indicates that the project is sufficiently attractive for investors. The implementation of the project reduces CO2 emissions by 49,481 tons and waste by 15,834 tons in 10 years, and saves energy by 885,135 kWh, ensuring green economy priorities. The method of discounted cash flows was used to analyze the economic efficiency of the project implementation. The peculiarities of the obtained results are that a financial model was developed for the assessment, the advantage of which is the accounting of all major cash flows of the project, which ensures the interests of the enterprise. The results of the study can be used in making managerial decisions to rationalize the use of raw materials at enterprises, as well as by government agencies for green economy programs
IDENTIFYING THE CHARACTERISTICS OF PUBLIC-PRIVATE PARTNERSHIP PROJECTS ON GREEN ENERGY IN DEVELOPING COUNTRIES WITH DIFFERENT INCOMES Yerzhan Domalatov, Ardak Turginbayeva, Assel Apysheva, Ardakh Azimkhan, Karlygash Kamali, Tursynzada Kuangaliyeva, Zhaxat Kenzhin, Aizhamal Aidaraliyeva Eastern European Journal of Enterprise Technologies, 2024 The object of the study is public-private partnership projects in green energy in developing countries. The problematics of the study is based on the intersection of the current problems of improving energy efficiency and environmental friendliness of energy innovations. The problem of analyzing such projects was solved with the following results: The findings of the study indicate the importance of country income as a factor influencing investment in public-private partnership projects in green energy. The analysis indicates the importance of the country's income as a factor influencing the established technological structure of public-private partnership projects in the green energy sector. It is proved that energy efficiency significantly depends on the technological structure of public-private partnership projects in green energy. The obtained results are explained by assuming the dependence of public-private partnership projects in green energy on the income level of the economy, based on Wallis one-way analysis of variance and cross-tabulation. Mann-Whitney U test was used to explain the dependence of energy efficiency on the technological structure of such projects. The particularity of this study is the analysis of the technological structure of public-private partnership projects in green energy, taking into account the specifics of developing countries and the application of their clustering. This research is of practical significance in the possibility of applying the results obtained by the authorities for the creation and implementation of public-private partnership projects in the field of green energy, as well as by energy companies implementing new technologies using water, wind and solar energy.
An Integrated Optimization Model for Medicine Order Distribution and Delivery Problem of Online Pharmacy Based on the Optimal Supply Chain Strategy K. Z. Sholpanbaeva, A. A. Apysheva, N.K. Shaikhanova, A.K. Modenov Industrial Engineering and Management Systems, 2021 The issue of health and medicine has always been very important. The volume of demand in the field of medicine is very high and is considered as one of the sensitive and vital products, so the accuracy in using the medicine and the accuracy of time of its use and access are among the strict requirements in the field of drug circulation. As we know, in order to achieve the best therapeutic effect and cure the disease, several drugs for a specific disease are usually used simultaneously. Therefore, an order which contains different types of medicines must be delivered on time, together and at the same time. By focusing on the supply chain, companies are experiencing significant reductions in healthcare costs. The purpose of this article is to provide a model and solution for online pharmacies through which chain costs can be optimized. In this regard, it is assumed that after the orders are received through the protocol in each period, a third-party logistics organization will collect the medicines required for each order from the physical pharmacies that have these medicines in their stock and transfer them to pharmacies that have the ability to send the medicines to the customer and a shipping fleet so that, considering logistical costs, orders are delivered to customers on time.
Globalization of the economy and its impact on the financial policy of Kazakhstan Kanshaim G. Sholpanbaeva, Asel A. Apysheva, Nurgul K. Shaikhanova, Usen S. Alimbetov, Saule K. Egenberdieva Public Policy and Administration, 2021 The relevance of the study is conditioned by the problems of implementing financial policy for the modern Kazakhstani economy, the underdevelopment of the financial and banking system and a low level of monetisation (45% with the threshold of food security of 75%). In this regard, this paper is aimed at studying the impact of economic globalisation on the financial policy of Kazakhstan. The study used methods of analysis, synthesis and analogy, which allow for a comprehensive study of the models of financial market regulation. Using the comparative research method, the regulation of the research object in the national system of Kazakhstan, other countries of the region and at the international level was compared. The paper presents the main trends in the functioning of financial systems at the international, regional and national levels. The integration of the banking sector is classified according to the degree of development of integration processes in the financial sphere: offensive credit integration; protective financial integration; preparatory (pre-integration); disintegration. The study revealed that Kazakhstan is making attempts to introduce conceptual provisions of Asian neo-industrial countries to modernise the national economy and financial sphere, actively engage in the regional and world financial markets and flows. It was determined that a consolidated (integrated) model of financial market regulation functions in Kazakhstan, its advantages and disadvantages are noted. The study of the features of the financial market regulation models in foreign countries under the influence of globalisation trends made it possible to determine a number of measures to improve the financial market regulation of Kazakhstan.
Importance of tax regulation of SME innovations in the economic management Opcion, 2019
Theoretical aspects and methods of evaluating the economic efficiency of corporate management in the banking sector of the Republic of Kazakhstan Mathematics Education, 2016
