Corporate Management Systems Research Articles

Integration of Law and Business: The Collaborative Construction of Legal Regulation of Commercial Contracts and the Contract Management System in Enterprise Business

Against the backdrop of globalization and the rapid development of the market economy, the intersection of commercial contract legal issues and the construction of corporate business management systems has become increasingly important. The organic integration of law and business management can effectively promote the improvement of corporate compliance and management efficiency. This article explores the integration and synergy of law and business management by analyzing the legal risks in commercial contracts and the legal protection needs in the construction of corporate management systems, and proposes a comprehensive interdisciplinary management model. Research shows that the optimization of a company's legal compliance system, risk control mechanism, and contract management system is the key to promoting the long-term and stable development of the company.

Ensuring the performance of external communications: An informal classification of target groups

The increasing influence of the investment community on business sustainability highlights the need for a compre hensive understanding and accurate segmentation of this audience. The research aims to identify consistent criteria for intra group differentiation in the perception of financial reporting information among members of various stakeholder groups in or der to improve the performance of external communications management. Methodologically, the study rests upon stakeholder theory, which is supported by expert assessments, structural-logical analysis, and multidimensional discriminant analysis. The study draws on authentic data of a survey on the quality of corporate reporting information conducted in the fourth quarter of 2020 among 52 representatives of the Russian business. The research identifies motivationally-rooted statistically significant discrepancies in the probability of correlating some survey participants with their functional group formed on a formal basis. We discuss the relevant criteria for an informal division of respondents into groups based on subjective judgments about qualitative characteristics of corporate financial reports. These criteria include variations in estimates of complexity of reporting standards and functionality of cost indicators based on the concept of fair market value. The revealed criteria for motivational and func tional identification within stable subgroups of financial statement users formed within functional groups represents the scien tific novelty of this study. The results contribute to a deeper understanding of the relevant criteria for the group structure of the investment community, which constitutes the target audience for corporate reporting. These findings can be utilized to refine the formal classification of users of reporting information, as well as to adjust other components of corporate management systems with the aim of enhancing the effectiveness of external communications.

An Exploration of the Promotion of Human Resource Management to Enterprise Development Strategies

Human resource management, as a pivotal component of corporate management systems, exerts a direct influence on a company’s competitiveness and long-term development. With the acceleration of globalization and the intensification of market competition, the formulation and implementation of corporate development strategies increasingly hinge on the efficacy of human resource management. Recruitment, training, and motivation of talent have become crucial driving factors in achieving strategic goals. Through judicious resource allocation and systematic human resource management, enterprises can enhance their innovative capacities, bolster their market responsiveness, and sustain a competitive edge in an ever-changing business environment. Effective human resource management not only facilitates the execution of corporate strategies but also ensures that a company remains flexible and adaptive at various stages of development, thereby providing a solid foundation for sustainable growth.

From Cadres to Managers: The Double-hundred Action Programme and China's State-owned Enterprise Reform

AbstractReforming China's state-owned enterprises (SOEs) is a complex endeavour. Among recent initiatives, the double-hundred action (DHA) programme stands out for its ambition, especially in its aim to revamp corporate governance structures and management systems. A notable change is that top executive positions are now open to a wider and more diverse candidate pool and are no longer restricted to Party cadres. Based on fieldwork and interviews at a DHA-selected enterprise, this paper explores the DHA's impact on SOE functioning and governance. Our research reveals unanimous support among top executives for the policy, despite stringent performance appraisals and limitations on future promotion opportunities. The policy has significantly transformed recruitment, performance evaluation and remuneration within the enterprise under study. However, although top executive recruitment is no longer tied to Party membership, the Party still exerts its influence through key appointments on the board of directors.

Развитие правового регулирования использования интеллектуальной собственности в контексте задач инновационного производства

In corporate management system of innovative production, the presence of intellectual property maintains con-troversial and borderline position between economics and law. The effective use of such two-axis regulation within the company significantly affects its recovery and stimulates the introduction of new solutions based on intellectual innovations that contribute to the improvement of market competitiveness of the organization. Cur-rently, Russia is implementing the technological development concept, which contains the elements of “intel-lectual activity results”. While considering this issue in the context of global technological trends and transfor-mational changes in the field of advanced manufacturing technologies, solutions for legislative positive impact based on intellectual property rights are becoming relevant. In the context of digitalization of the process of cre-ation of new products and virtual testing it is recommended to consider the possibility of legislative registration of new intellectual property objects.

The Possibilities of Using Artificial Intelligence in Decision-Making in the Corporate Management System

The expansion of the use of intelligent computer systems based on artificial intelligence makes it possible to operate with a large amount of input data, generate a greater number of alternatives based on previous experience and competitive analysis, select and implement the best one for current market conditions. Such opportunities are especially in demand when solving non-standard, complex, unstructured management tasks. The result of artificial intelligence application in managerial decision-making is to increase the flexibility and efficiency of business processes, the implementation of the best complex options in a limited time and resource mode. The article is devoted to the consideration of research and successful cases related to the use of artificial intelligence technology in corporate governance. The methodological basis is represented by general scientific methods of cognition: comparative analysis, systematization, etc. As a result, based on the analysis of management practice, general requirements for the use of artificial intelligence in the decision-making process in corporate management are determined.

Green insurance, technology insurance, and corporate green innovation

The “dual-carbon” strategy was first written into China's “Government Work Report” in 2021, bringing green low-carbon development and green innovation to an unprecedented height. At the financial policy level, the Chinese government actively promotes the development of a green financial system represented by green bonds, green insurance, science and technology insurance, and green credit. Existing literature studies on green insurance and science and technology insurance mainly focus on the relevant legal system, the impact on corporate and risk management system, insurance types and service models, subsidy policies, and the problems and challenges they face. However, existing studies have studied the impact of green insurance and science and technology insurance on corporate' green innovation. In particular, the impact of their interaction on corporate' green innovation is rarely mentioned. From the perspective of green insurance and science and technology insurance to promote corporate' green innovation, based on the data sample of Shanghai and Shenzhen A-share listed companies from 2014 to 2015, this paper comprehensively investigated and analyzed the impact of green insurance and science and technology insurance on corporate' green innovation, and analyzed the interaction effect of the two. The research perspective of enterprise green innovation is expanded. The analysis conclusion of this paper provides new ideas and empirical evidence for Chinese corporate to realize faster and more efficient green transformation, which is conducive to stimulating the vitality of enterprise green innovation and development.

The Influence of the Net Financial Result of the Activities of the State Enterprises of Ukraine on the Efficiency of the Use of their Capital in the Corporate Management System

The Influence of the Net Financial Result of the Activities of the State Enterprises of Ukraine on the Efficiency of the Use of their Capital in the Corporate Management System

“GREEN FINANCE” IN THE PARADIGM OF SUSTAINABLE BANKING DEVELOPMENT OF THE ECONOMY OF UKRAINE

Introduction. The concept of sustainable development, which has been recognized by the UN and all countries of the world over the past 30-40 years, has become the consensus official paradigm of the world economy in the 21st century. The changed paradigm of the global economy, the foundation of which became the "Goals of sustainable development, the climate agenda and ESG – the transition created a new mega trend of the financial industry – “sustainable finance or finance of new quality”. “Green finance” is considered as a strategic direction of sustainable financing. The purpose of the article is to substantiate theoretical and practical conceptual approaches to the definitions of “green economy” and “green finance” in the new paradigm of the global economy, as well as their use in the sustainable investment development of Ukrainian economy. Results. Key initiatives in the field of sustainable development, as well as conceptual approaches to the definitions of "green economy" and "green finance" are considered. Focused attention on the concept of sustainable finance, the trend of which foresees a revolutionary approach from the classical paradigm of finance to a new paradigm. Financing instruments and mechanisms, such as green bonds, credits and loans, which are not fundamentally new in technical terms, but contain an ecological component, have been analyzed. It is argued that the concept of sustainable development finance acquires both theoretical justification and practical confirmation in the academic discourse. The NBU strategic approaches to the construction and development of sustainable financing, taking into account ESG factors in the European integration vector of Ukraine were studied. Conclusions. It is justified that the paradigm of sustainable finance should be considered in an inextricable relationship with the notions of sustainable development and sustainable investment, which is correlated with the achievement of sustainable development goals. In further scientific research, it is necessary to pay special attention to the key principles of the development of sustainable financing in Ukraine, especially the implementation of environmental, social and managerial (ESG) factors, which will become mandatory elements of the corporate management systems of financial institutions.

Empirical analysis of solutions for metal ore mining sustainability

This study investigates the long-term sustainability of the metal ore mining industry in 16 ASEAN+6 countries participating in the Comprehensive Economic Partnership in East Asia (CEPEA) during the period from 2005 to 2020. It focuses on the impact of various factors, including government spending on public education, Foreign Direct Investment (FDI), inflation rates, green energy resilience, and carbon dioxide (CO2) emissions. The empirical model employed logarithmic transformations and the ARDL approach to analyze the data. The results reveal that increased public education spending leads to a reduction in energy intensity within the metal ore mining sector, with more pronounced effects observed in the long term. FDI has a positive influence on energy intensity in both the short and long term, reflecting a complex relationship. Inflation rates impact energy intensity due to short-term cost pressures and long-term sustainability considerations. Green energy resilience is associated with reduced energy intensity, driven by immediate efficiency gains and long-term sustainability. However, there is a concerning link between CO2 emissions and higher energy intensity in the industry, attributed to energy-intensive processes, resource extraction, regulatory limitations, economic growth, and sustainability requirements. To enhance industry sustainability in CEPEA economies, a comprehensive policy framework is recommended, emphasizing principles of the circular economy, stringent green corporate management systems, promotion of green FDI, education for sustainable development, and the utilization of big data and artificial intelligence to reduce energy intensity.

Theoretical principles of the implementation of compliance in banking activities

The concept of compliance is quite new for the domestic business environment, while international standards define it as one of the components of corporate governance. International and national legal norms and banking standards are constantly deepening and becoming more complex, which actually makes it difficult for ordinary employees to keep up with all the changes and comply with the requirements. The European integration vector of Ukraine’s development implies the need to adapt domestic regulatory and legal provisions that regulate banking activities. That is why the improvement of theoretical foundations and the formation of practical recommendations regarding the search for models for the implementation of compliance functions in the corporate management system of banks should be carried out systematically in accordance with the requirements of international standards and EU Directives. The works of such foreign scientists as K. Kolyanese and D. Nash, as well as the works of such Ukrainian authors as V. Biloshapka, A. Yehorova, L. Kalinichenko, O. Kolodizev, A. Korshun, O. Kotsyuba, M. Mozharovskyi, O. Ovchelupova, I. Onishchenko, I. Okhrimenko, V. Svitlichna, K. Sivkova, N. Tarasevich, B. Tsovma, L. Chudak, S. Sheludko, studied the problematic aspects of compliance. The purpose of the article is a theoretical generalization of general and specific features and functions of compliance, taking into account the specifics of banking activity. This article focuses on a study of the definition of the concept of «banking compliance». The definition of the concept of compliance in the general sense and in the Cambridge dictionary was systematized and analyzed, which made it possible to distinguish the limits and sources of compliance. The main features of compliance are summarized and its author’s interpretation as a complex phenomenon is proposed. The article also proved that the concepts of compliance and banking compliance are not identical. Regulatory and scientific approaches to the interpretation of banking compliance are summarized and analyzed. The article indicates that the compliance includes all necessary principles and strict adherence to legislation: from employee registration norms to business ethics in working with partners; from international and national legislation to internal corporate rules. As a result, the business gets a good reputation on the market and the trust of customers and partners. Compliance is interpreted as certain measures in the bank that will not allow its employees to violate the law or corporate ethics. This article defines the objective and subjective signs and functions of banking compliance, which reveal it from objective and subjective aspects. This article has clearly shown the author’s interpretation of the concept of bank compliance as a phenomenon of banking relations, as the state of the banking system; as the process of corporate banking management.

ОСОБЕННОСТИ ОЦЕНКИ ЭКОНОМИЧЕСКОЙ ЭФФЕКТИВНОСТИ КОРПОРАТИВНОГО УПРАВЛЕНИЯ

This article presents an analysis of modern approaches to assessing the economic effi ciency of corporate governance, highlights the factors of corporate management effi ciency, and also considers the concept of the category “effi ciency” from the standpoint of various researchers. The economic effi ciency of corporate governance is considered in the context of functional management subsystems. In particular, the paper presents the author’s idea of the indicators of economic effi ciency of production management in terms of the productivity of the use of all working and fi xed production assets. A selection of indicators characterizing the eff ectiveness of the use of industrial production and management personnel, as well as the company›s own and borrowed sources of fi nancing, is proposed. The stages of the assessment were determined and a system of balanced indicators of economic effi ciency in the corporate management system was formed.

Корпоративное обучение сотрудников в партнерстве с высшими учебными заведениями

In the presented work, the issues of the organization of in-house training based on the partnership of a commercial company and an educational organization of vocational education are considered. Continuing education helps professionals climb the corporate ladder and achieve success at work, and also allows corporations to save on expensive external hiring by promoting from within. The article substantiates that in modern conditions, when the gap in the skills that the employer expects from employees and their actual level is quite deep, corporate human resource management systems face the need to take advantage of corporate training, including that implemented on the basis of bilateral cooperation between industrial and academic structures. It is concluded that in conditions of talent shortage, it is extremely important for companies to adopt strategies that promote lifelong learning, professional development and retraining of the workforce.

Governance and Corporate Management System Supported by Innovation, Technology, and Digital Transformation as a Driver of Change

Governance and Corporate Management Systems have become key tools for the comprehensive management of organizations, which, when implemented, guarantee corporate success, which can materialize in obtaining corporate goals, strategic objectives, KPIs, and KRP. This paper is the product of research exercises where a Governance and Corporate Management System is exposed, supported by three main pillars: Technology Management, Innovation Management, and Digital Transformation, which we will call GCMS+ from now on. The work developed is based on a quasi-experimental longitudinal research methodology, in which three key phases are addressed; the first phase corresponds to the systematic review of the literature, which allows the identification of the key components of the proposed GCMS+ system. The second phase of the methodology focused on the modelling of the GCMS+ system, which visually and descriptively describes the structural components, flows, and control mechanisms. The third phase of the methodology focuses on the validation of the GCMS+ system proposed from the discussed literature and contrasting the position of the authors, which is identified through a conceptual discussion. In this case, it seeks to validate the structural elements of GCMS+, the constraints, adoption of good practices, integration of standards, adoption of principles, integration of drivers, strategic taxonomy, organizational structures, governance and management approach, as well as methodologies, roles, initiatives, metrics, and indicators.

Ensuring the competitiveness of regional enterprises on an innovative basis

National and regional innovation systems are being formed in Ukraine. In the era of global transformations, innovations become the main factor in increasing the efficiency of industrial enterprises of the region in order to ensure its competitiveness. The solution to this problem requires a comprehensive analysis and rethinking of existing approaches, the creation of theoretical foundations for ensuring the effective development of industrial enterprises in the region. The activity of corporate structures in creating new innovations and effective communications for their transfer becomes a factor of economic development, increasing the competitiveness of the region. The cost of modern products is determined not only by the costs of material production, but also by research and development works, which, in turn, can be an innovative component of the development of industrial enterprises. The use of innovations makes it possible to increase not only the efficiency of individual components of the corporate structure, but also, if proper attention is paid to integration processes, of the entire corporate management system. This determines the increased interest of society, in particular scientists and practitioners, in the ways of effective formation of the corporate innovation management system of an industrial enterprise.
 The following tools can be used to stimulate the modernization of industry in order to ensure the competitiveness of the region on the basis of innovations: the formation of the sales market for competitive products and services using mechanisms that regulate the purchase of domestic science-intensive products for state needs; stimulation of investments in the modernization of industry based on innovations by improving the mechanisms of partial financing of large innovative projects by the state and private business; motivation of enterprises to adopt innovations on the basis of incentives for domestic enterprises to purchase modern technologies created by Ukrainian developers; stimulation of industrial reform processes; creation of corporate structures that unite the spheres of production and scientific and technical activity. Among them are state centers of science and high technologies.
 Further development of the country's national innovation system should be aimed, first of all, at ensuring the system integration of all its elements and their effective interaction.

SUBSTANTIATION OF HR STRATEGY IN THE BUSINESS PLAN OF THE COMPANY

SUBSTANTIATION OF HR STRATEGY IN THE BUSINESS PLAN OF THE COMPANY

МІСЦЕ І РОЛЬ WELLBEING В КОРПОРАТИВНІЙ СТРАТЕГІЇ УПРАВЛІННЯ

The article is devoted to issues of the place and role of ensuring wellbeing in corporate management. The significance of wellbeing measures in corporate management and its consequences for the company are substantiated. The cor-porate strategy of wellbeing is defined as a comprehensive integrated corporate program for ensuring the wellbeing of employees, aimed at forming sustainable competitive advantages of the company and personnel in the HR market, creat-ing a positive image and brand of the employer by promoting corporate values, creating a favourable environment and incentives for the development of each member of the team, ensuring financial wellbeing, fostering corporate care. The implementation of the corporate strategy of wellbeing contributes to the im-provement of physical health, psychological comfort, financial wellbeing and social interaction of employees, team members and the collective as a whole, in-creasing productivity and work efficiency, staff loyalty, which will contribute to the long-term success of the company. Overall, implementing a corporate wellbeing strategy requires a thoughtful and comprehensive approach that involves assessing the current state of wellbeing, developing a detailed plan, communicating the strategy, implementing initiatives, and regularly evaluating and adjusting the strategy. The place of wellbeing in the corporate management system is defined, its connection with the company's HR strategy is shown. The sequence of forming the wellbeing corporate strategy is proposed, which in-cludes marketing research of the HR market and requirements for job seekers, as well as the requirements of job seekers and employment conditions, goals, objec-tives and directions for the implementation of the wellbeing corporate strategy, the strategic program for the implementation of the wellbeing corporate strategy and its tools, control and adjusting the implementation of the wellbeing corpo-rate strategy Program. The essence of the stages of the wellbeing program in the corporate management system is revealed. It was emphasized that the implemen-tation of the wellbeing corporate strategy in corporate management creates a positive and productive working environment and will contribute to the long-term success of the company.

Implementation of ESG Principles as a Mechanism for Ensuring Sustainable Development in the System of Corporate Management

Implementation of ESG Principles as a Mechanism for Ensuring Sustainable Development in the System of Corporate Management

CHARACTERIZATION OF METHODS OF INNOVATION MANAGEMENT AT THE ENTERPRISES OF THE REGION TO ENSURE THEIR ECONOMIC SUSTAINABILITY

World experience shows that strategically sustainable economic development of the region's enterprises is impossible without continuous and continuous innovation. In order to survive, win and constantly increase the level of its development, the enterprise must continuously update, improve and transform the products it produces, improve and modernize production. All this is possible on the basis of innovation. Innovations and innovative activities are not considered as independent objects of accounting and complex economic analysis. In this regard, there are no accounting and analytical definitions and classifications of innovations that would allow them to be distinguished compared to other, non-innovative (traditional or routine) types of activity. Accordingly, the analysis and evaluation of innovations are not included in the system of complex economic analysis, there are no unified ideas about the internal structure and relationships of this direction of economic research. The purpose of the article is to provide a description of innovation management methods in the corporate structure and their application in crisis conditions. Despite the limited amount of research in the field of innovation, the question of choosing the most effective toolkit for innovation management in corporations suddenly arises. This will make it possible to increase the competitiveness of the enterprise, quickly identify internal opportunities for innovative activity, and reveal hidden reserves of industrial enterprise development. The article examines the classification of innovation training and proposes levels of evaluation of this training, researches the types of innovation management, defines approaches to finding innovations, analyzes the methods of identifying innovations to ensure the economic sustainability of enterprises in the region. The considered methods of innovation management allow implementing all types of innovation management at enterprises of the region to ensure their economic sustainability. All complex performed and planned measures directional to increase association volumes of production, improvement of quality and decrease its cost price. Improving the system of corporate management of innovations to ensure the economic stability of enterprises in the region can be a further direction of research.

Цифровая трансформация инженерно-технического документооборота как фактор оптимизации экономической деятельности предприятия строительной отрасли

Introduction of the systems of electronic engineering and technical and organisational workflow is currently considered as one of the effective tools to digitalize management of business process of construction industry enterprises to increase their efficiency and competitiveness in a dynamically developing business environment. The necessity to build digital infrastructure to manage the flows of structured digital information about the capital construction object at the stages of its life cycle is primarily due to the transition trend to use information modeling technology implemented at the state level. The purpose of the study is to analyze the specifics of the workflow of enterprises in the field of architectural and construction design and to study the possibilities of implementing the processes of its digital transformation based on introduction of import–independent specialized software products of domestic production. The analysis of current state of the enterprises corporate management systems of project products circulation, internal coordination logistics and external interaction of the participants of investment and construction projects revealed inefficiency and significant shortcomings of traditional format of document management. This allowed making conclusion about the necessity to use specialized software for managing engineering and technical data, since traditional electronic document management systems and ECM systems do not allow taking into account the highlighted features. Business and functional requirements formulated in the course of the study for the systems of this class and functionality analysis of Russian TDMS Farvater (Fairway) system for compliance with these requirements allowed to conclude that digitization of engineering and technical data management processes within the framework of the general trend of digital transformation will optimize the economic activity of construction industry enterprise by reducing the costs of document management and deadlines of investment and construction projects. The highlighted requirements for technical data management information system can be used in the development of import-independent software products of this class. The description of the TDMS Farvater (Fairway) functionality and its integration mechanisms in creating of unified information technology environment of shared data can become a methodological basis to form corporate digital ecosystem for managing digitized information flows and configuring interaction routes and synchronization of internal and external document flow in a single interface.