, Doctor of Science (economy), Full Professor, Full Professor of the Department of Management and Public Administration, Ukraine, Melitopol

In heading

Economic theory;

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Issues number

2019 - № 4 (39)



Type of articles

Scientific article

Code UDK


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Problem setting. An intermediate model of corporate management, typical of Ukraine as a country with a transition economy, is characterized by a fierce struggle for corporate control, in the absence of its effective mechanisms leads to insufficient protection of the rights of corporate entities. To achieve optimal conditions for the functioning of the corporation, it is necessary to have effective mechanisms and tools for monitoring,
regulating and implementing corporate management, and they can regulate corporate interaction mechanisms.
Recent research and publications analysis. Effective corporate management mechanisms used in various models are studied by the works of such scientists as I. Ansoff, O. Bilorus, V. Ievtushevskyi, D. Lvov, V. Makedon, V. Oskolskyi, Ye. Palyga, A. Povazhnyi, A. Sirko, A. Tkach. The authors identify the basic models of corporate management and special approaches to the formation of corporate relations.
Paper objective. The purpose of the article is to define institutional control mechanisms in the corporate management model, justify the patterns and features of their use in various institutional environments in order to harmonize the interests of all groups of participants in corporate relations and ensure effective corporate relations.
Paper main body. The practice of functioning of the Ukrainian corporate sector is investigated and specific features of a peculiar national Ukrainian model are established that negatively affect the development efficiency of corporations, in particular: a relatively large share of owner-managers and a low share of institutional investors in the structure of corporate property; merger of property and management; consolidation of corporate
ownership packages with simultaneous «artificial» spraying; use of discretionary management mechanisms; violation of the rights of virtually all groups of participants in corporate relations, with the exception of insider owners; strengthening the density of relationships between corporate management and officials; lack of transparency in the management system of issuers and markets. In general, the most effective corporate control
mechanisms in the system of outsiders are based on formal institutes of law and the stock market, an informal institute of culture and the institute of mass media and information; in the system of insiders – at the formal institute of law due to state regulation, the formal institute of a large owner through commercial control and the informal institute of social partnership due to social control and moral responsibility to society. Let’s connect the development of the national model with the tools of internal management: mechanisms managing the relationship between corporate management bodies; issue of shares with additional rights; participation of owners in the management of the corporation; management responsibility for management effectiveness; information and communication; protection of property rights; coordination of interests of all corporate groups.
Conclusions of the research. The corporate management model is presented as a set of corporate management rules and methods that are implemented using formal and informal, external and internal corporate management tools. Institutional control mechanisms in corporate management models are proposed that allow harmonizing the interests of all groups of corporation participants and ensure effective corporate relations,
provide guidance and purposefulness of the process of institutional development of corporations in the Ukrainian economy.
Short Abstract for an article
The corporate management model is presented as a set of rules and methods of corporate management. The practice of functioning of the Ukrainian corporate sector is investigated and specific features of a peculiar national Ukrainian corporate management model are established. The approaches to the definition of tools to ensure effective corporate relations are summarized. The mechanisms for the development of the corporate sector based on internal management tools are identified.


institute, corporate control, corporate management, corporation, outsider system, insider system.


External reviewer

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