CORPORATE GOVERNANCE: THE CONCEPT AND THE MAIN APPROACHES TO ITS DEFINITION IN RUSSIA

Abstract

The necessity of normative attaching to corporate management’s definition is specified. A wide quantity of opinions concerning the maintenance of the essential elements making the concept «corporate management» is analyzed. It is stated that the acceptance of the unified approach to the maintenance of the concept «corporate management» is necessary at the present stage of development of the Russian corporate practice. The new definition of the investigated concept according to which corporate management represents the system of mutual relations among proprietors of the company, management and other privies concerning the following: maintenance of their interests through fair and equal rights in distribution of activity’s results; the proprietors’ monitoring of the com-pany management; increasing of efficiency of the company and increasing in its profit; correspondence to social interests is offered.