CORPORATE CONTROL IN THE SYSTEM OF VALUE-BASED MANAGEMENT

Abstract

This paper describes the economic essence of corporate governance in the system of value-oriented financial management. The author emphasizes the need to change approaches to implementing corporate governance in the context of new opportunities to attract investors-coowners with various ways to achieve the goal of increasing their well-being. The article proposes the author's definition of corporate governance as a system of monitoring the activities of a corporation aimed at ensuring sustainable development, improving the welfare of owners and preventing manipulation by investors-co-owners and the management of the corporation. The importance of corporate governance as a tool for preventing hostile takeover is emphasized. Furthermore, the author focuses on increasing the transparency of internal information among investors-co-owners and management. The author's conclusions correlate with the studied foreign experience in implementing corporate governance models, which allows us to conclude that each country must form its models that meet the culture and peculiarities of doing business. Because the global economy has undergone significant changes in recent years, it is proposed to develop models of corporate control for Russian practice in certain sectors of the economy, taking into account the prevailing peculiarities of doing business and the current legal regulation.