РОЗВИТОК ДЕРЖАВНИХ КОРПОРАЦІЙ: УПРАВЛІННЯ ТА РЕЗУЛЬТАТИ

Abstract

The study is devoted to the generalization of experience and the development of scientifically based applied recommendations for managing the development of state joint-stock companies. Abstract-logical, systemic-structural and comparative analysis, grouping, statistical-economic, systematization and generalization methods were used for the research. Retrospective analysis made it possible to establish that in Ukraine, the joint-stock form of management was developed with the adoption of a legislative framework, which was developed using experience and information on legal foundations in economically developed countries. The grouping of signs regarding the advantages and disadvantages of the management joint-stock form was carried out, and the most significant ones were determined. A comparison of corporate governance outsider and insider models as the most frequently used in the countries of the world is made. Characterization of these models’ elements made it possible to establish significant discrepancies. The Ukrainian model of corporate governance uses elements of outsider and insider models, which reflects its specificity, including in the legislative framework. The provisions of the Ukraine new Law «On Joint-Stock Companies», effective from 01.01.2023, required changes to bring the management of corporations closer to international norms, which was implemented in the newest legislative framework from 03.05.2024. With the use of official statistical data, the dynamics of the decrease in the number of state-owned enterprises, their structure according to organizational and legal forms, and insignificant financial results of activity have been established. The rating of state corporations by the size of the share capital showed that the largest joint stock companies belong to the energy sector, as well as transport and communication. Of the TOP-5 state corporations, only three enterprises pay dividends according to the established norm, but all entities have mostly low-level financial indicators. It is proposed to increase the efficiency of management and results of state corporations on the basis of taking into account detailed external and internal factors of the precrisis state, as well as the introduction of an anti-crisis management mechanism, the components of which differ depending on the state of the economy. In particular, the developed external and internal factors are recommended to be used in the period of a stable state of the economy, in the period of the pre-crisis state - measures for the recovery or restructuring of joint-stock companies, and in the conditions of a crisis state - an anti-crisis strateg