ROLE AND PLACE OF CORPORATE SECTOR IN THE STRATEGIC DEVELOPMENT OF MODERN ECONOMY

Abstract

The article notes the role and place of corporate formations in the strategic development of national economies. The essence and meaning of the concept corporation are researched. The differences between corporations and joint-stock companies are considered. Characterized features, functions, components and classification of corporations are described. The corporation, with its institutionalization of domestic economic relations, rigidity of the procedures for making and implementation of managerial decisions, with the simultaneous mechanism of limiting the freedom of action of managers – from the point of view of information specialization, is sufficiently perfect structure. It is necessary to distinguish the basic functions of the corporation: social, economic, technological, innovative and institutional. It was determined that the main feature of the corporate form of ownership is inner duality objectively inherent to it, i.e., it arises, functions and develops simultaneously: on the one hand, as the property of shareholders (private), and on the other – joint stock company as a whole (collective). The possibility of purposeful and effective behavior of the corporation is largely determined by this. It also determines those organizational advantages that can enhance its ability to use the most rational (definite, consistent) process of making decision for implementing the most effective market strategies. It was conclusion that for further perspective the development of corporations will enable to increase the efficiency of the Ukrainian economy both at micro and macro levels: to restore the stock market of Ukraine; to increase the capitalization of domestic companies; to strengthen the role of professional managers; to increase the competitiveness of products at domestic enterprises.