THEORETICAL DISCOURSE OF CORPORATE DEVELOPMENT IN THE XXI CENTURY

Abstract

Background. Development of the theoretical concept of corporate entrepreneurship is determined by the intensification of research in modern conditions. The main subject of scientific research is the analysis of the evolution of corporate relations, their organi­zational forms and interaction ways of the main subjects, i.e. owners, managers and the state, as well as the relationship of corporations structural elements. The lack of a holistic concept of corporations’ role substantiation in modern system of economic relations and the scien­tific significance of this issue have led to the relevance of the article. The analysis of recent research and publications shows that theoretical matrix of corporate entrepreneurship research is at the stage of active transformation of its research field. The aim of the article is to systematize and generalize theoretical approaches to the analysis of corporate development vectors in the XXI century and also to identify the latest institutional determinants of their functioning. Materials and methods. The works of Ukrainian and foreign scientists are the theo­retical and methodological basis of the article. The institutional and evolutionary approach is methodological basis of the paper. General scientific research methods such as abstract­tion, analysis and synthesis, systematization, analytical, logical and historical generaliza­tions were also used. Results. Corporate enterprises in modern conditions of civilizational development are the basis of economic activity, which is based on the use of market relations. It involves the continuous accumulation of extremely large amounts of capital to finance programs and develop technical and technological basis of their operation. Modern corporation is a specific form of organization of economic activity and economic agent, a separate format of social nature of economic relations, which provides deepening social division of labor through horizontal and vertical integration, reproduction of capital, formation of stable integration network relations and institutionalizes socio-economic relations in all dimensions. Conclusion. The main advantages of the corporate form of entrepreneurship are wide opportunities to attract financial resources, implementation of innovative projects, etc. Corporations are hierarchical network meta-organizations, a form of institutional support for systemic competitiveness and innovative development of the socio-economic system with an integrated model of capital reproduction into organizational terms. Corporation is a social institution of collective action into institutional terms. The corporate form of entre­preneurship makes it possible to increase international competitiveness of the national economy and creates a basis for its development on the basis of neo-industrialization in the context of effective public, social and collective institutions.