The national model of corporate governance as the basis for the sustainable development of the Russian economy

DOI

10.2991/icsdcbr-19.2019.64How to use a DOI?

Keywords

national model, corporate governance, economy, market, policy

Abstract

In recent decades, the country's leadership has adopted many programs and projects for economic growth, the implementation of which does not always give the desired result. In our opinion, the main reason for this is insufficient attention to the corporate organization of business and the contemporary choice of a national model of corporate governance. The article considers the role of a contemporary corporation in solving the tasks of growth of the Russian economy. The authors’ comparative research clearly shows that in the developed countries, corporations provide innovative and technological development, serving the core of the economy. A system-structural analysis demonstrates the organizational complexity of managing a corporation due to the multitude of participants, functions, tasks, and strategies. It is shown that at present, corporations do not use enough market investment mechanisms, practice excessive export abroad or inappropriate use of retained earnings, and restrain the growth of corporations, which are essentially the material carriers of the modernization programs of the Russian economy. Improving the corporate governance model will significantly overcome the existing shortcomings. The approach proposed by the authors calls on the executive and legislative authorities to change the paradigm of corporate governance in Russia, the main principles of which are contained in the article, which would allow launching the processes of reproduction and development at the corporate level.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - S I Mezhov
AU  - I S Mezhov
PY  - 2019/11
DA  - 2019/11
TI  - The national model of corporate governance as the basis for the sustainable development of the Russian economy
BT  - Proceedings of the International Conference on Sustainable Development of Cross-Border Regions: Economic, Social and Security Challenges (ICSDCBR 2019)
PB  - Atlantis Press
SP  - 308
EP  - 312
SN  - 2352-5398
UR  - https://doi.org/10.2991/icsdcbr-19.2019.64
DO  - 10.2991/icsdcbr-19.2019.64
ID  - Mezhov2019/11
ER  -