PROBLEMS OF REFORMING THE STATE CORPORATE SECTOR OF UKRAINE
Journal Title: ЕКОНОМІЧНИЙ ДИСКУРС - Year 2017, Vol 1, Issue 2
Abstract
Introduction. Ukraine's aspiration to join the European community requires the introduction of its main principles in our country. It is necessary to change the distorted nature of the corporation. A code of professional ethics should be introduced at the domestic enterprises. We must speak about ensuring equal protection of the interests and rights of all shareholders. The success of the reform depends on the government's hard political will, the search for a balance of economic interests for the adoption of the legislative framework for corporate governance development, and their effective introduction into life. Methods. The following methods of economic research are applied in writing the article: monographic – for the the study of the set of factors of influence on the development of enterprises with the state share, statistical – for the analysis of statistical data, graphical and tabular methods for presentation of information. Results. The article is devoted to the study of the reform of corporate governance of economic entities of the state sector of the economy, which is extremely necessary, since existing mechanisms of corporate governance, are ineffective or nonexistent, which in turn leads to unsatisfactory financial performance of enterprises, loss of competitiveness. Discussion. Improving corporate governance in the sector of state-owned enterprises is a key component of the reform to address the issue of deep macro-fiscal vulnerability in Ukraine. The influence of branch ministries, the weak or missing corporate structure, including the lack of such a component as the board of directors, lack of transparency and inconsistent monitoring of activities led to a decline in productivity and the emergence of fiscal imbalances. Improving corporate governance in the state-owned enterprises sector should contribute to the creation of a positive external impact on the competitive environment in Ukraine and increase the efficiency of public service delivery and the efficiency of the allocation of public resources.
Authors and Affiliations
Liliya Prokopchuk
Keywords
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