Economic Governance Mechanism (1987)
In: Moscow University Economics Bulletin, Band 2016, Heft 4, S. 167-185
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In: Moscow University Economics Bulletin, Band 2016, Heft 4, S. 167-185
The article points out that the process of introducing market relations in Ukraine and the growing role and importance of joint-stock companies in the economic development of the country and well-being of its citizens have created the need of corporate governance that emerged due to changing ownership structures and transition to market relations.The study shows that the corporate form of business organization is a new and complex phenomenon in Ukraine. Corporations (joint-stock companies) are the most widespread and significant form of business organization in the current conditions. It is emphasized that the defining feature of a corporation is that it is owned by shareholders who bought stock. This requires a completely different approach to management and control. The nature, role and principles of corporate governance framework are described. It is reasoned that since management and ownership are separated, there is a need to balance interests of shareholders and management.It is stressed that corporate governance is an important factor in the company's activity and development, the primary purpose of which is to provide owners with the opportunity to organize and exercise effective control over management. The essence of corporate governance is to achieve a balance of interests for participants of corporate governance, namely: shareholders, managers, supervisory board and other groups and individuals (suppliers, consumers, creditors, government authorities, etc). The role and place of management in corporate governance, their interests and powers are highlighted.The following responsibilities are associated with executive bodies, or management: solving currents problems related to the corporation's activities, ensuring decision-making by general meeting of shareholders and supervisory board, planning, organizing, motivating, coordinating, and monitoring.It is substantiated that management and corporate governance are different concepts. The key difference is that corporate governance is a wider concept, and management is an integral part of it. The effectiveness of corporate governance rests on the organization of the work of management.
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The article examines the possibility of correction of the activity of the political system defined in the framework of the concept of good governance. It is emphasized that for many transformational states of the contemporary world the need for self-restraint of political actors is urgent. The focus is directed on improving the effectiveness of political management through the concept of «good governance». It is noted that in the conditions of democratization the requirements for the transparency of the authorities of its responsibility and adequacy of the decisions made increased. It is argued that in a democratic political process, public experts are beginning to play an increasingly important role. The importance of informatization of the process of civil self-directness is established. The representation of political preferences in political management is analyzed. The role of denationalization and deformation of the processes of political management in the processes of appearance of subjects of political management is explained.Also argued, that the content of the identification of the actors` function of the political management in the countries of political transformations is proved. The incomplete institutional capacity of political players is revealed. The significance of the transformation of modern political management subjects into collective participants in the adoption of strategic decisions is considered.The goal of the article is to identify the actors of political management, which are in the field of influence of the concept and relations «good governance». The task of the article is to identify those functional sectors of political management that are suitable for modernization through the means of «good governance» in transformational democracies.It is proved that an exhaustive interpretation according to which actors of political management must meet the normative requirements framework of good governance as a certain doctrine does not exist. In this case, actors must adhere to certain rules of standards and indicators that are changing in the contemporary world. Therefore, such subjects of political management as party and civic associations may manipulate the governance categories to ensure their reporting on election programs.The opinion presented, that «good governance» in a society of sustainable democracy is a dynamic structure of the assessment of the effectiveness of political management, which is based on current issues in the society main agenda.Revealed, that there is a situation in which institutions of political management should distinguish between the leadership institutions that provide an effective way for modernization and complex reforms. At the present stage, the situation seems to be that the principles of good governance require their communication substantiation and dissemination.A prerequisite for establishing the need for good governance reforms is the relative stability of democratic institutions. In the article established that the criteria for good governance for assessing political institutions are largely based on a certain managerial reality and the achievement of the primary standards of sustainability of democratic governance. They are: the frequency of elections, the legitimacy of the change of government, the availability of rules for political competition, free access of citizens to the decisions of the authorities, developed an independent law-enforcement and media systems. ; В статье исследована возможность коррекции деятельности политической системы, что определяется в рамках концепции надлежащего управления – «good governance». Подчеркивается, что для многих трансформационных государств современного мира насущной потребностью являются самоограничения политических акторов. Сконцентрировано внимание на усовершенствовании эффективности политического управления с помощью концепции «good governance». Отмечается, что в условиях демократизации ужесточились требования к прозрачности власти ее ответственности и адекватности принимаемых решений. Утверждается, что в демократическом политическом процессе все большую роль начинают играть общественные эксперты. Установлено значение информатизации процесса гражданского самовыражения. Проанализировано представительство политических предпочтений в политическом менеджменте. Выяснена роль разгосударствления и деформализации процессов политического управления в процессах появления субъектов политического менеджмента.Доказано содержание функции идентификации субъектов политического менеджмента в странах политических трансформаций. Обоснована неполная институциональная состоятельность политических субъектов. Рассмотрено значение преобразования современных субъектов политического менеджмента в коллективных участников принятия стратегических решений. ; У статті досліджено можливість корекції діяльності політичної системи, що визначається в рамках концепції належного врядування – «good governance». Підкреслюється, що для багатьох трансформаційних держав сучасного світу нагальною є потреба самообмеження політичних акторів. Сконцентровано увагу на удосконаленні ефективності політичного управління за допомогою концепції «good governance». Наголошується, що в умовах демократизації посилилися вимоги до прозорості влади, її відповідальності та адекватності прийнятих рішень. Стверджується, що у демократичному політичному процесі дедалі більшу роль починають відігравати громадські експерти. Встановлено значення інформатизації процесу громадянського самовиразу. Проаналізовано представництво політичних уподобань у політичному менеджменті. З'ясовано роль роздержавлення й деформалізації процесів політичного управління у процесах появи суб'єктів політичного менеджменту.Доведено зміст ідентифікації функції суб'єктів політичного менеджменту у країнах політичних трансформацій. З'ясовано неповну інституційну спроможність політичних гравців. Розглянуто значення перетворення сучасних суб'єктів політичного менеджменту на колективних учасників ухвалення стратегічних рішень.
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Purpose. The current socio-economic situation actualizes the need to study and optimize the communication process of public administration. The subject of the research are theoretical and applied aspects of the organization, regulation and control of public communication in terms of good governance. The aim is to determine the content, objectives, principles of communication in public administration as an effective means of forming and reproducing power-administrative relations and institutions of a democratic society. Research limitations/implications. Using the methods of philosophical and general scientific levels in their complementarity it was analyzed the significance of modern information and communication technologies to provide innovation in the activities of public administration authorities. Originality/value. The scientific importance of the work consists in describing the challenges associated with the implementation of the tasks to provide permanent channels of communication between government and society; in verifying the role of the media as both a communication channel and an active participant in the process of public administration reforming; in substantiating the principles of the interaction between public sector and the media. As a conclusion it was affirmed the necessity to develop the state strategic communications program on the basis of an integrated approach, taking into account the importance of communications for optimal public administration providing. The problems of the implementation and practical recommendations regarding the communication between state and society were identified ; Современная социально-экономическая ситуация актуализирует необходимость исследования и оптимизации коммуникационного процесса публичного управления. Предметом исследования являются теоретические и прикладные аспекты организации, регулирования и управления публичными коммуникациями в условиях «хорошего управления» («good governance»). Цель – определить содержание, задачи, принципы коммуникационного взаимодействия в публичном управлении как эффективного средства формирования и воспроизводства властно-управленческих отношений и институтов демократического общества. С помощью методов философского и общенаучного уровней в их взаимодополняемости проанализирована значимость современных информационно-коммуникационных технологий по обеспечению инновационности в деятельности органов публичного управления, охарактеризованы вызовы, связанные с реализацией задачи обеспечения постоянных каналов коммуникации между государством и обществом; уточнена роль средств массовой информации как канала связи, так и активного участника процесса реформирования публичного управления; обоснованы принципы взаимодействия представителей публичного сектора со средствами массовой информации. Как вывод доказывается необходимость развития государственной стратегической программы коммуникаций на основе комплексного подхода, с учетом значимости коммуникаций для оптимальной организации управления общественной жизнью. Определены проблемы имплементации и практические рекомендации относительно коммуникационного взаимодействия между государством и обществом ; Сучасна соціально-економічна ситуація актуалізує необхідність дослідження та оптимізації комунікаційного процесу публічного управління. Предметом дослідження є теоретичні та прикладні аспекти організації, регулювання та управління публічними комунікаціями в умовах «доброго врядування». Мета – визначити зміст, завдання, принципи комунікаційної взаємодії в публічному управлінні як ефективного засобу формування і відтворення владно-управлінських відносин та інститутів демократичного суспільства. За допомогою методів філософського та загальнонаукового рівнів у їхній взаємодоповнюваності проаналізовано значущість сучасних інформаційно-комунікаційних технологій щодо забезпечення інноваційності в діяльності органів публічного управління, охарактеризовано виклики, що пов'язані із реалізацією завдання встановлення постійних каналів комунікації між державою і суспільством; уточнено роль засобів масової інформації як каналу зв'язку, так і активного учасника процесу реформування публічного управління; обґрунтовано принципи взаємодії представників публічного сектора із засобами масової інформації. Як висновок доводиться необхідність розбудови державної стратегічної програми комунікацій на засадах комплексного підходу, з урахуванням значущості комунікацій для оптимальної організації управління суспільним життям. Визначено проблеми імплементації та практичні рекомендації щодо комунікаційної взаємодії влади і суспільства
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In: Governance & recht 16
One of the factors determining the development of the securities market in the country is the level of corporate governance. It is clear that without respect for the rights of small shareholders of the company, is not created for them the possibility of effective enjoyment of these rights and on the possibility of leaving the company, and similar factors make it difficult to attract funding through the securities market. From this point of view, the effect of creating a mechanism to protect investors' rights legislation of the country on the development of the securities market significantly. The financing of the national economy the main role belongs to the market for corporate securities. Securities market creates additional opportunities for financing firms. This creates an incentive for the company's development and corporate management firm. This fiscal squeeze in many cases firms to refrain from taking effective financial decisions, which in turn negatively affects economic development. Emerging in the country system of corporate governance is to ensure equal and fair treatment of all shareholders, including small shareholders, shareholders and foreign shareholders who do not participate in managing the company.
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Main objective of the study is the analysis of the environmental governance in the Eastern Partnership countries. Methodology of the study includes an analysis of the European Union and the countries of the Eastern Partnership documents devoted to the implementation of the environmental governance principles. The study clarifies the concepts of "governance", "environmental governance", "European environmental governance". The main principles and values of the European environmental governance are determined. The environmental vector of the Eastern Partnership and measures that promote the implementation of environmental governance, in particular the Flagship initiative of the Eastern Partnership on Effective Environmental Governance (2009) and the Ministerial Declaration on Environmental Cooperation and Climate Change (2016) have been analyzed. The results of the study show the role of the European Union in improving governance and conducting effective reforms in the Eastern Partnership countries, including the implementation in the environmental policy such European values as democracy, rule of law, engagement, transparency, impact assessment. It has concluded that during 2009–2017, there was a certain progress in the implementation of environmental governance in Ukraine, Moldova, Belarus, Azerbaijan, Armenia and Georgia, but still there are many problems on this way. Ukraine, the first one among the Eastern Partnership countries, has developed a "soft" instrument for implementing the principles of good environmental governance, which has been put in the "Roadmap for the implementation of the provisions of the Luxembourg Declaration" (2017). This document is currently under development. The significance of the study is in the determining the key role of the European values in the implementation of environmental governance and proposal for their wider inclusion not only in this document, but in practices in Ukraine.
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У статті розглянуто специфіку корпоративного управління в Україні як результат процесу формування корпоративного сектору вітчизняної економіки. Проведено дослідження щодо наявності певних проблем корпоративного управління та проведена їх систематизація на зовнішні та внутрішні. Серед зовнішніх проблем увагу приділено: особливості процесу формування структури власності товариств в Україні, яка зумовила формування закритого для зовнішніх інвесторів капіталу вітчизняних корпорацій; проблемі взаємодії держави з корпораціями та необхідність перетворення держави в ефективного акціонера; недосконалості законодавчої бази з корпоративного управління та нерозвиненості фондового ринку. В статті також приділено увагу внутрішнім проблемам: відсутності на підприємствах розвиненої корпоративної культури, непорозуміння у відносинах між акціонерами (власниками) та управляючими (менеджерами), нерозуміння ролі корпоративного секретаря та важливості запровадження принципів корпоративного управління вітчизняними акціонерними товариствами. Зроблена в статті систематизація та розподіл проблем корпоративного управління на дві групи дозволила більш детально дослідити їх та обґрунтовано підійти до розробки заходів для подальшого їх вирішення. ; The article considers the specifics of corporate governance in Ukraine as a result of the process of forming the corporate sector of the domestic economy. The research on the presence of certain problems of corporate governance was conducted and their systematization was carried out. All existing corporate governance issues are divided into external and internal ones.Among the external problems, attention is paid to: the peculiarities of the process of formation of the ownership structure of the companies in Ukraine, since the ownership structure that has developed in the country does not contribute to the growth of the performance indicators of corporations, and on the contrary - led to the formation of the capital closed to foreign investors of domestic corporations; the problem of interaction between the state and corporations, which is connected with the necessity of transforming the state, as the shareholder of some joint-stock enterprises, into an effective shareholder; the imperfection of the legislative framework for corporate governance and the underdevelopment of the stock market. It is noted that the Ukrainian model of corporate governance is at the stage of its formation and combines elements of outsider and insider's models.The article also focuses on internal problems: lack of corporate culture in enterprises, misunderstanding in the relations between shareholders (owners) and managers (managers), misunderstanding of the role of corporate secretary and the importance of introducing corporate governance principles for domestic joint-stock companies.Such a systematization and division of corporate governance issues into two groups allowed them to investigate more closely and reasonably approach the development of measures for their further resolution.The article concludes that solving existing problems of corporate governance in the country, taking into account the world experience of management, its adaptation to national economic conditions are the necessary directions for improving corporate governance in Ukraine.
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Освещаются проблемные вопросы организации корпоративного управления на государственных предприятиях. Акцент делается на специфике государственного сектора экономики и его подсекторов: стратегического и военного. Предлагается методика измерения качества корпоративного управления госпредприятиями. ; Problematic issues of the organization of corporate governance at state enterprises are covered. The emphasis is on the specifics of the state sector of the economy and its subsectors: strategic and military. A methodology for measuring the quality of corporate governance by state enterprises is proposed.
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Исследуются актуальные проблемы правового регулирования в сфере корпоративного управления. Авторы анализируют новеллы гражданского законодательства о корпорациях и корпоративном управлении, в частности нормы, регулирующие корпоративный договор. Установлено, что в статье Гражданского кодекса РФ, посвященной корпоративному договору, некоторые вопросы остались без внимания. К их числу относится возможность его расторжения. Очевидно, что в этом случае допустимо общее правило о соглашении сторон, но не может быть исключено и расторжение договора по требованию стороны договора. Нормы ст. 450 и 451 Гражданского кодекса РФ не могут быть применены в силу специфики корпоративного договора, нет соответствующих норм и в специальных законах, оперирующих понятием корпоративных соглашений. Этот пробел должен быть устранен именно в общей норме Гражданского кодекса РФ. Отмечается, что в процессе совершенствования правового регулирования корпоративного управления необходимо учитывать только положительный опыт зарубежных стран и не забывать о специфике национальной правовой системы и особенностях осуществления предпринимательской деятельности в России.DOI 10.14258/izvasu(2016)3-30 ; The article considers the topical problems of legal regulation in the sphere of corporate governance. The authors analyze the civil legislation on corporations and corporate governance, in particular the rules regulating the corporate contract. It was found that in the article of the Civil Code of the Russian Federation, dedicated to the corporate contract, some issues remained unanswered. Among them is the possibility of its termination. Obviously, this case admits the general rule on the agreement of the parties, but the termination of the contract at the request of parties to the contract cannot be ruled out. The rules of Articles 450–451 of the Civil Code of the Russian Federation cannot be applied due to the specifics of a corporate contract; there are no relevant rules in the special laws that operate with the concept of corporate agreements. This gap must be addressed to in the general rule in the Civil Code of the Russian Federation. It is noted that in the process of improving of legal regulation of corporate governance one should take into account only the positive experience of other countries and not forget about the peculiarities of the national legal system and peculiarities of doing business in Russia.DOI 10.14258/izvasu(2016)3-30
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Peculiarities and problems of the development of corporate governance of the railway company of «Uzbekistan Temir Yo'llari» JSC in the current economic conditions are considered. The relevance of the chosen direction of research is determined by its high significance for the economic, political and geopolitical development of the railway transport of the Republic of Uzbekistan. Political and geopolitical interest is associated with a significant impact on the national economy, which is provided by the railway transport companies of the Republic of Uzbekistan, as well as with the desire for the interaction of other enterprises in order to obtain additional competitive advantages. The author considers the theoretical issues of corporate governance development, as well as features of the development of railway companies in the Republic of Uzbekistan.
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Управління кредитним ризиком банку направлене на запобігання ймовірності настання негативного впливу на діяльність банківської системи в цілому та розробку шляхів та заходів вчасного реагування у випадку настання ризику.Актуальність даної теми обумовлюється нестабільністю банківської системи, широким спектром існування ризикорієнтованих факторів, що стримують фінансово-економічну незалежність банків. З метою передбачення та вчасного виявлення, розробкою реальних заходів щодо запобігання кредитного ризику, грамотним його управлінням та розв'язком, дана стаття направлена на характеристику основних ризик орієнтованих моментів в управлінні різних сфер банківської діяльності.Ціль даної статті направлена на дослідження та втілення ризикорієнтованого управління у банківській діяльності, використання найдоцільніших важелів впливу щодо покращення управлінських рішень у вирішенні проблемних питань з настанням кредитних ризиків у сфері банківського менеджменту. ; Management of the bank's credit risk is directed at preventing the possibility of an adverse impact on the activities of banking system im general and the development of ways and measures for timely response in the event of a risk.The urgency of this issue is conditioned by the instability of banking system, the wide spectrum of existence of risk-oriental factors that restrain the anancial and economic independence of banks. For the purpose of pre-emptive and timely detection, developing effective measures to prevent credit risk, competent management and resolution. This article is devoted to the characterization of the main risk of oriented moments in the management of various spheres of banking activity.The purpose of this article is to focus on the research and implementation of risk-oriented management in banking activities, use of the most suitable levers of influence for improve managerial solutions in solving problems with onset of credit risks in the spheres of banking management.Crisis phenomena of the financial system lead to significant problems in the banking segment of our state, which are related with abrupt reduction in the amount of banks, increase in level of riskiness of banks. That's why there is a necessity for risk-oriented management in the banking management system to form a system of guaranteeing the prevention of similar problems in the future. Thus, the modern banking system is still underdeveloped, does not obey its functions properly and lags behind other European countries. This situation extends the risks for the further stable functioning of the banking system, reduces its ability to allocate constantly increasing money supply and implement effective redistribution of temporarily free funds across the country's economy.Efficient risk management consists of several stages, from the identification of potential, possible causes to constant control of the level of risk. The regularity of risk monitoring, continuity and constant research of its level has been becoming great valuable. Domestic economists haven't defined optimum methods of credit risks management in the bank activity. However, recent international researches of scientists on risk issues denote us the necessity of the formation risk-oriented management in experts and heads of enterprises in our state.It should be noticed that the bank credit risk is traditionally related with certain factors of the services and operations: commercial bank credit operations, investment (formation of portfolio securities), guarantee services, derivative operations, loan services (leasing, factoring, etc.)Consequently, each of these services and operations has a common factor that can be identified as a risk. But we think the another type of risk, such as risk-oriented management, which is needed to achieve the efficiency of the management system, must be added to these factors. Such risk management provides a set of measures and methods of management the numerous hazards and opportunities, that affect its ability to achieve the intended goals and its control, implemented by the financial institution. Although risk is not a loss for the bank, its understanding and management can increase the efficiency of any business. The problem for any bank is losses. The threat of emergence of losses, the concept of their causes compels to manage risk and develops the necessary measures to reduce the risk of financial losses. We can assume that risk is a measure of danger, which is determined by the probability of realization of a hazard in a dangerous event and the degree of gravity of financial losses.There is a necessity of approval risk-oriented management and thinking in the sphere of quality management, finance, banking, ecology, energy conservation, etc., at the legislative level in our state nowadays in terms of implementation of the requirements of the Association Agreement between Ukraine and the EU.
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Practices of activity of bodies of judicial self-government of foreign countriesare analyzed. It is determined that the place and role of judicial self-governmentin the structure of the judiciary is determined by the national, historical traditionsof a particular country. It has been found that in most foreign countries, judicialself-government bodies act as independent bodies, both in relation to the legislatureand the executive, as well as to the judiciary.The scientific and theoretical study of typical models of judicial self-governmentfor the countries of Europe is carried out. The basic powers of the bodies of judicialself-government are highlighted.It is established that in most constitutions of European states, judicial selfgovernment bodies are designated as institutions of judicial self-government andare included in bodies that are not vested with judicial functions but are partof this branch of government.It is determined that in Western Europe there are two models of the organizationof the Judicial Councils: Northern (Sweden, Denmark, Norway) and Southern(French-Italian, Spanish-Portuguese). The peculiarity of the first model is thatthere is no single body designed to ensure the independence of the courts andthe independence of judges, the powers shared between the various bodies andinstitutions. The second is characterized by a liberal position in the system ofpublic authorities. The states of Central and Eastern Europe, in the creationof the Judicial Councils, modeled the Southern model of the model.It is substantiated that in order to further introduce positive experiencein the legislation of Ukraine, the experience of France is interesting, and among Актуальні проблеми політики. 2018. Вип. 62the countries of the post-socialist camp of Central and Eastern Europe – Poland,which is most actively carrying out the reform of the judiciary. ; Проведено аналіз практики діяльності органів суддівського самоврядування зарубіжних країн. Здійснено науково-теоретичне дослідження типовихмоделей суддівського самоврядування для країн Європи. Виділено основніповноваження органів суддівського самоврядування. ; Проведено аналіз практики діяльності органів суддівського самоврядування зарубіжних країн. Здійснено науково-теоретичне дослідження типовихмоделей суддівського самоврядування для країн Європи. Виділено основніповноваження органів суддівського самоврядування.
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Summary. Introduction. Providing of public equilibrium, establishment of mutual relations of collaboration and solidarity envisages the using of principles, that take into account the specific of mutual relations of individual and association, person and religious organization, and realization of that provides the redistribution of plenary powers between local associations and associations of the higher, centralized level. One of such principles there is a principle of subsidiarity. Purpose. The aim of the article is research of maintenance and practical measuring of principle of subsidiarity in Catholic social teaching. Methods. In order to examine the sense of subsidiarity, to trace consistently its conceptual evolution the author used coherent analytical tools. Results. Important for understanding the essence of principle of subsidiarity is a thesis on intercommunication and mutual responsibility of person and society, man and church organization. The realization of principle of subsidiarity envisages establishing the order, at what association of local level get all necessary functions, and the associations of higher level are allotted auxiliary and coordinating plenary powers. In accordance with principle of subsidiarity, central power must execute exactly auxiliary, but not leading role, deciding those tasks that can not be effectively executed at local level only. Originality. The principle of subsidiarity, from the point of view of Catholic social teaching, is based on a grant to the people a possibility to decide the questions, that they are touched and are urgent, without influence from the side of more centralized, social or private, religious or state institutes. Correct use of the principle of subsidiarity creates the counterbalance of omnipotence of external in relation to a man power, to the tendencies of centralization and depersonalization of human personality in the modern world, strengthens a democratic line-up, carrying out the proper distribution of tasks and delegation of plenary powers, and also distribution of power and control above her. Conclusion. The principle of subsidiarity finds his ground in the Catholic social teaching as democratic social principle of organization of free and humane society. As normative principle of governing, subsidiarity called to assist strengthening of dialogue, search of methods of mutual acceptance of decisions in a church.
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