ПРОБЛЕМИ ТА ПЕРСПЕКТИВИ РОЗВИТКУ КОРПОРАТИВНОГО УПРАВЛІННЯ В УКРАЇНІ

Abstract

The publication is aimed at clarifying the essence of corporate management, studying the peculiarities of the formation of the corporate sector in Ukraine, researching existing problems and outlining promising ways for the development of the corporate management system. The author considers approaches to defining the concept of «corporate management». The article clarifies the role of the corporate management system in the national economy and the peculiarities of the formation of the corporate sector in our country, the basis of which is the inefficient structure of shareholders’ property, the presence of a large number of shares owned by the State and the need to solve the problem of managing the State-owned corporate rights, as well as a powerful tax burden. On the basis of the considered peculiarities of two corporate management systems: insider, in which the property is concentrated in the hands of several persons who own significant shares of corporate property, and outsider, in which joint-stock ownership is sufficiently dispersed, the Ukrainian model of corporate management is substantiated, which at the present stadium is at the stage of its formation and combines elements of both the first and second systems. It is emphasized that, despite the significant problems of modern corporations, they are able to ensure the highest production efficiency, which can be an impetus for the economic progress of our country. Concrete measures have been proposed to improve the functioning of the corporate sector of the Ukrainian economy, in particular: effective regulatory framework; bringing the internal provisions in force at the level of joint stock companies in accordance with the norms of the current legislation; increasing the competitiveness of the Ukrainian stock market; transformation of the State as the owner of shares into an effective shareholder through the creation of a proper system of the State regulation of the capital market; unshadowing of the corporate sector in order to improve the information disclosure procedure; improvement of the organizational and management structure of joint stock companies through a clear distribution of power, responsibility and accountability; optimization of dividend policy; effective management of corporations; improving the level of corporate culture; formation of an effective corporate control system.