COMPARATIVE CHARACTERISTICS OF CORPORATE MANAGEMENT MODELS
DOI:
https://doi.org/10.31471/2409-0948-2026-1(33)-115-125Keywords:
corporate governance, business environment, stakeholders, shareholders, corporate governance modelsAbstract
The article highlights the theoretical aspects of the concept of "corporation", which is a key element for understanding the term "corporate governance". The corporation in the conditions of modern realities is presented as a new organizational form, which has both a narrow and a broad meaning. Its essence reflects the purpose, tasks and structure that ensure the unification of participants in corporate relations. The author established that corporate governance in joint-stock companies is a key aspect of modern business, determining the efficiency and sustainability of companies. Given the globalization and the growing volume of world financial markets, the study of corporate governance models and their impact on efficiency is becoming an extremely important task. In this article, a comparative analysis of various models of corporate governance in joint-stock companies is carried out in order to determine their impact on the efficiency of such companies.
It is also noted that there is no generally accepted model of corporate governance that would be used in the international practice of corporate governance. It is noted that the majority of Ukrainian enterprises are guided by the national model of corporate governance, which was formed under the influence of the basic principles of the German and Anglo-American models. In this model, key shareholders are company employees, management, banks and the state. Banks are the main source of financing, which is more characteristic of the German management model. The Ukrainian model of corporate governance, which has certain similarities with the Japanese model, is also analyzed. In particular, the state plays an important role in this model. At the same time, attention is focused on a significant difference: in Japan, the involvement of the state in the management system is not based on the ownership of a significant share of shares, as is observed in Ukraine. In the Japanese model of corporate governance, the main interaction between participants is not aimed at maximizing profits, but at developing new business relationships and long-term cooperation.
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