In conditions of high uncertainty of the external environment when the global financial crisis, changes in legislation, the increase in tax, and many other factors can lead to negative consequences in many legal entities increases the probability of bankruptcy. The article describes the main causes of failure at various stages of the life cycle of the organization and ways of the prevention bankruptcy. Special attention is paid to the identification and analysis of the problems of the legislation, which regulates the relationship between the now-bankrupt and its creditors.

The article examines the impact and importance of public corporations in the creation of poles of economic growth , as well as analyzes the foreign practice of creating and functioning of public corporations.

The article discusses the management of a public company for the changes in their legal status. The methodology of corporate governance offers several management models with varying degrees of interaction with steyholderami. It is proved that the level of interaction with stakeholders affect the efficiency of the business model, the strategic goals and innovation. The study identified the parameters that form the sources of the efficiency and quality of management of public non-public companies, which should be considered when developing and implementing innovative programs and strategic development.

The article discusses different assessment methods of efficiency of companies with state participation, analyzing accumulated experience of evaluation in sphere of economic activities, state procurements and innovation activities of companies.

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.