The concept and essence of corporate governance

Abstract

The article is devoted to the study of the basic concepts and essence of corporate governance. The main aspects of corporate governance are characterized, including its objectives, functions, principles, structure and role in the stable functioning of enterprises. It is determined that corporate governance can be viewed as a set of legal, economic, organizational norms and rules within which a corporation (company) operates, and on the basis of which the relations between all its participants are built. Corporate governance unites various participants in corporate relations, each of which takes care of its own interests, establishes mechanisms and methods of interaction between them. It is highlighted that most studies related to corporate governance have a rather narrow focus and are conducted exclusively at one of these levels. The issue under study is multifaceted and also includes the definition of functions and components of corporate governance, which include: creating a strategy and setting goals, ensuring financial stability, ensuring transparency and compliance, and facilitating interaction with stakeholders.