Models of corporate management: global experience and problems of formation in Ukraine

Abstract

The concept and specificity of corporate governance models is defined. A comparative assessment of the most common types of corporate governance models, in particular: Anglo-American, German, Japanese, Family, or model W (the widely-held corporation model), which is presented in Anglo-Saxon countries and model B (the blockholder model), widespreaded in other countries of the world is carried out. The peculiarities of the national model of corporate governance formation were studied. It is substantiated that for the transitional financial system of Ukraine any direct copying of the models of industrially developed countries for the formation of a national system of corporate governance is absolutely impractical, however, it is important to take into account the world experience, mental peculiarities of the corporate sector formation and functioning, which in the complex will contribute to the economic growth of our state. The prospects for the development of the national model of corporate governance, which depends directly on the need to improve the system of functioning of the corporate sector of the Ukrainian economy and requires a number of problematic issues, namely: improvement basic principles and provisions of corporate governance; transformation of the state as a shares owner into an effective shareholder by creating a proper system of state regulation of the capital market; shadowing of the corporate sector to improve the procedure of disclosure and increase the level of transparency of operations; improvement of the organizational and management structure of joint-stock companies; formation of an effective corporate control system are outlined.