PROBLEMATIC ASPECTS IN THE LEGAL REGULATION OF CORPORATE GOVERNANCE ISSUES IN JOINT STOCK COMPANIES

In the article, the author attempts to briefly analyze the existing problematic aspects in the legal regulation of corporate governance issues of joint stock companies in Russia. The issues under consideration include the field of civil and corporate law, simultaneously affecting a large layer of public relations, since, in addition to the founders and counterparties of the joint stock company, they indirectly concern other social groups, such as, for example, employees and the state represented by its bodies. The article briefly examines the history of the appearance of this organizational and legal form in domestic legislation, provides the legal framework for its regulation. Special attention is paid to problematic aspects of legislation and law enforcement practice, in particular, attention is drawn to the reform of 2014 and the contradictions generated by it. The application of loyal conditions for the regulation of corporate relations of non-public joint stock companies is analyzed. The issues of subsidiary liability of persons controlling the debtor in bankruptcy are investigated, since these issues are also related to corporate governance. The sufficiency of the legal regulation of board of directors’ appointments is studied. Special attention is paid to the consideration of the issue of the representative’s place in the corporate governance of a joint stock company with state participation, which is determined by two vectors: protection of state interests and participation in the management of the company aimed at sustainable growth and development, increasing economic efficiency. The shortcomings in the corporate governance of jointstock companies in which the state owns a controlling stake are highlighted, among which are: the slow management mechanism, the lack of a model for assessing managerial qualities and competences, low personal responsibility and interest, a large burden on representatives. The question of the economic efficiency of appointing a trustee is studied. It is concluded that there are a number of legal problems affecting both the quality of corporate governance in joint stock companies and the financial performance of the company.

joint stock company, legal regulation, gaps in legislation, regulatory legal acts, legal entities, reorganization, liquidation, liability insurance, state representative, trustee

Bitar D. Problematic aspects in the legal regulation of corporate governance issues in joint stock companies. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):312—317. DOI: 10.25683/VOLBI.2023.63.665.