CORPORATE GOVERNANCE: LEGAL ASPECTS
Author(s): Kolontaevskaya Irina Fedorovna
Rubric: Civil, business and contract law
Release: 2018-3 (17)
Keywords: corporate governance, corporate governance standard, corporate rules of conduct, “soft law”, self-regulation
Annotation: The article discusses approaches to the scientific and theoretical, legal and organizational-normative definition of corporate governance. Various points of view on the nature and essence of corporate governance are given, a generalized universal definition of corporate governance is formulated. The actual problems of legal and regulatory fixing of rules and standards in this area are revealed. It is noted that at the moment, along with the radical reform of corporate legislation, an active formation of “soft” (intra-firm) law is underway. The rules of “soft” internal corporate governance are enshrined in the statutes, standards, principles that have a recommendatory and not mandatory nature, which to some extent reduces the discipline of the administration and top managers of the company, reduces the degree of awareness, and guarantees and protection of investors, participants, members of corporations, in particular shareholders. In this regard, proposals are made for improving the regulatory framework for corporate governance and the development of corporate law.
Bibliography: Kolontaevskaya IR.FE. CORPORATE GOVERNANCE: LEGAL ASPECTS // Legal Science. – 2018. – № 3 (17). – С. 41-49. doi: 10.21777/2587-9472-2018-3-41-49