THE CONCEPT OF FORMING A SYSTEM OF CORPORATE CONTROL IN INTEGRATION ASSOCIATIONS OF JOINT-STOCK COMPANIES

Abstract

The purpose of the article is to explore the concept of forming a corporate control system in integration associations of joint-stock companies, aimed at ensuring management efficiency, decision-making transparency, and risk minimization for shareholders. The research methodology is based on the analysis of existing approaches to corporate governance, integration processes, and the systematization of modern principles of control and risk management.

The results of the study show that the integration of joint-stock companies into larger corporate structures allows for the achievement of synergy through the integration of financial, material, and intellectual resources, which ensures increased corporate governance efficiency and long-term company development. It has been determined that integration associations of joint-stock companies represent a special form of corporate interaction among shareholder companies, involving the creation of a group of interconnected joint-stock companies functioning under a single management center. It is substantiated that, under conditions of integration, the formation of an effective corporate control system is crucial, ensuring transparency of management decisions, protection of shareholder rights, risk minimization, and enhanced operational efficiency.

The author identifies that the corporate control system should be based on key principles such as transparency, accountability, control effectiveness, integration of control with risk management, adaptability, balance of rights and responsibilities, fairness, preventiveness, democracy, rationality, and informational transparency. Important components of the corporate control system in integration associations of joint-stock companies include strategic, financial, and operational control, control over corporate norms and ethics, risk management, control of the execution of innovation programs, automation and digitalization of control, informational transparency, reporting, and accountability.

The scientific novelty lies in defining key principles and components of the corporate control system for integration associations, including strategic, financial, operational control, as well as automation and digitalization of control.

The practical significance of the study is that the developed corporate control system promotes the stability and efficiency of integration associations of joint-stock companies, enhancing decision-making transparency and shareholder rights protection. Prospects for further research include improving risk management methods and integrating innovations into the control system in a dynamic market environment.