corporate governance

The paper is about different view points of conception «corporate governance». There are several definition of the «corporate governance» category, of the different scientists. The author analyses it’s and propose fallowing methodology aspects of the corporate governance: strategic, lows, social, institutes, integral, value aspects and economics aspect.

Introduction. The article is devoted to the study of stakeholder risks and the possibilities of their assessment. The methodological framework of the study was formed on the basis of the corporate governance theory and its stakeholder model. Theoretical analysis. On the basis of the the Russian-language and English-language publications’ general review, carried out by the authors, it is concluded that there is no clear generally accepted toolkit for assessing stakeholder risk. Assessment of stakeholder risks was most developed in project approaches. Methods. The authors propose an approach for assessing the stakeholder risks of an organization as a whole based on the search for a balance of interests through modeling the contributions and benefits of stakeholders and the gaps between contributions and benefits. The empirical base of the study was made up of data on flour-grinding and bakery enterprises of the Sverdlovsk region for 2010–2019. The unbalanced dashboard for analysis included 130 observations across 28 companies. Results. The methodology has been tested on the example of a comparative analysis of “more successful” and “less successful” companies in terms of revenue. Econometric models of the stakeholder contribution to revenue have been built. Stakeholder risk maps were built, which made it possible to identify the most influential stakeholders in terms of their contribution to revenue and the most risky ones in terms of the gap level. Conclusions. When assessing stakeholder risks, a broad outlook and a system of various methods for assessing stakeholder risks are required, as well as a willingness to take into account factors that may go beyond the framework of the models. The results and conclusions of the article can become a theoretical platform for further research. Further research on this topic can be related to expanding the understanding of the imbalance of interests by taking into account the subjective assessments of stakeholders and experts. For these purposes, it is necessary to adapt existing corporate surveys to accounting for stakeholder value and stakeholder risks.

Introduction. For a long time, the board of directors of Russian corporations had a formal character, manifested in weak interpersonal relations between council members and in a formal approach to performing functions prescribed by Russian law and the Corporate Governance Code. The cause of formalism was the merging of property and management in Russian business, namely, the formation of a model of insider capitalism, as well as the general misunderstanding by the owners of the functional of the board of directors. These processes affected the formation of boards of directors from representatives of majority shareholders and government officials, which does not meet the requirements of the International best practices of corporate governance. The need for effective management, as well as the processes for companies to enter the international market, have become factors in the activation of boards of directors.

Theoretical analysis. In the course of the article, the composition and structure of the boards of directors of domestic companies are analyzed in the dynamics. An analysis is carried out for the presence of independent directors in the boards, their share ratio. The statistical data characterizing the dynamics of the structure of the soviets are also considered: the presence of appropriate committees in them. The analysis is conducted on the correspondence of the current state of the composition and structure of the boards of directors of Russian companies to the requirements of the Corporate Governance Code. Special attention is paid to these characteristics in non-public companies.

Results. The analysis made it possible to draw conclusions about compliance with the necessary requirements for the composition and structure of boards of directors in Russian companies. But the quantitative and structural characteristics of this institution are not sufficient for its full functional. Therefore, the article provides recommendations on the quantitative content of the board of directors, as well as the principles for the formation of committees of the board of directors, based on the need to address certain issues.