Comparative analysis of corporate management models

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Journal paper

Russian Journal of Entrepreneurship *
Volume 17, Number 22 (November 2016)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

Abstract:
The article is dedicated to the study of corporate management in Russia and abroad. The introduction of corporate management is necessary for the settlement of conflicts of interests that appear between shareholders and top-managers of corporations, as well as for the attraction of external investments. The author has identified corporate management models that have formed in the world: American, European, Japanese and the family one. A comparative analysis of the studied models has been performed. Formation of the model is influenced by such factors as stock market maturity, concentration of capital in the hands of the constant shareholders, national traditions etc. In Russia the introduction of corporate management principles became necessary after establishment of corporations during the 90s in the XXth century and in connection with the development different property types. Being large industrial enterprises, corporations have a considerable impact on the state and regional economy. The crisis of 1998 demonstrated the necessity of state regulation of the market mechanism, hence the formation and understanding of the need for corporate management begins in the 2000-s. For the period from 2000 to 2016, legal acts and institutions introducing the principles of corporate management in the Russian practice have been adopted. Presently, corporate management is used by state corporations, partially government-owned and large shareholder companies that attract investments in the international stock markets.

Keywords: investments, globalization, corporation, corporate management models

JEL-classification: E22, G34, F60

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