FEATURES OF CORPORATE GOVERNANCE IN NON-PUBLIC JOINT-STOCK COMPANIES WITH STATE PARTICIPATION

Abstract

Numerous amendments to Chapter 4 of the Civil Code of the Russian Federation on legal entities considerably changing the legal framework for Russian business were entered into force. Civil Code offers to business entities such kind of classification as: public and non-public. At the present stage of development of the Russian economy, the state is the owner of a huge number of non-public joint-stock companies, in this regard, there is need to improve the corporate governance system. Legal requirements for a public company are dispositive, thus providing greater freedom to joint stock companies in terms of distribution of powers between the levels of management and control, resulting in increased responsibility of the company. Consequently, the question of improving the quality of corporate governance in non-public joint-stock companies with state participation becomes very important.