Analysis in corporate governance

Economic Annals-ХХI: Volume 157, Issue 3-4(1), Pages: 85-87

Citation information:
Gracheva, N. (2016). Analysis in corporate governance. Economic Annals-XXI, 157(3-4(1)), 85-87. doi: https://doi.org/10.21003/ea.V157-0026

Nadezhda Gracheva
PhD (Economics),
Associate Professor,
Professor of the Department of Financial Accounting, Analysis and Audit,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
n-a-gracheva@mail.ru

Analysis in corporate governance

Abstract. Introduction. Corporate governance is a system shaping and modifying company’s management and control. Building-up a smart system of analytical support for corporate governance is a prerequisite to ensure corporate governance quality upgrading, fund-raising and capitalization enforcement. Purpose. To provide evidence to the significance of economic analysis as a tool to ensure high standards of corporate governance, to design a system of analytical support to serve successful corporate governance and to specify its elements. Results. The article presents the specifics of corporate governance analysis. It covers the basic elements of an analytic support system for corporate governance, such as: reporting transparency assessment, dividend payout analysis, top management remuneration analysis, target value analysis. Conclusion. A system approach to developing analytic support for corporate governance is proposed. Its implementation is essential to improve investment attractiveness of a company, ensure achieving the company’s goals and enhance its competitiveness.

Keywords: Corporation; Corporate Governance; Analysis; Corporate Transparency; Dividend; Target Values

JEL Classification: G34; M12

DOI: https://doi.org/10.21003/ea.V157-0026

Reference

1. Berle, A., & Means, G. (1932). The modern corporation and private property. New York: Macmillian.
2. Shleifer, A., & Vishny, R. A. (1997). Survey of corporate governance. The Journal of Finance, 52.
   doi: https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
3. DiPiazza, S., & Eccles, R. (2003). Building public trust: the future of corporate reporting. Moscow: Alpina Publisher (in Russ.).
4. Helfert, E. A. (1996). Techniques of financial analysis. Мoscow: Audit, UNITY (in Russ.).
5. Belyaeva, I. U., Pukhova, M. M., & Bezchastny, G. V. (2008). Investment attractiveness in corporate governance system. Moscow: RF Government Affiliated Financial Academy (in Russ.).
6. Dementyeva, A. G. (2011). The basics of corporate governance: study guide. Moscow: Magistr (in Russ.).
7. Yendovitsky, D. A., Shcherbakova, N. F., Isayenko, A. N., at al. (2012). Financial management. D. Yendovitsky (Ed.). Moscow: Read Group (in Russ.).
8. Dolgopyatova, T. G. (2004). Property and corporate governance in Russian companies in the context of integration mainstreaming. Rossiiskiy zhurnal menedzmenta (Russian Management Journal), 2(2), 3-26 (in Russ.).
9. Kovalev, V. V. (2010). Financial management course: course book. (2nd ed., arranged and revised). Moscow: Prospect (in Russ.).
10. Dubrovsky, V. Zh., Romanova, O. A., Tatarkin, A. I., & Tkachenko, I. N. (2004). Corporate development dynamics. Moscow: Nauka (in Russ.).
11. Sapozhnikova, N. G. (2008). Corporate accounting and reporting: methodology and practice. Voronezh: Voronezh State University Press (in Russ.).
12. Melnik, M. V., & Berdnikov, V. V. (2011). Analysis and control in a corporate entity: course book. Moscow: Eksmo (in Russ.).
13. Momot, T. V. (2006). Cost-oriented corporate governance: from theory to practical application. Kharkiv: KNAMM (in Ukr.).
14. Popov, O. E. (2009). Theoretical, methodological and conceptual base of the formation of economic management mechanism of corporate governance. Kharkiv: INZhEK (in Ukr.).
15. Khilukha, O. A. (2015). Regulation of stakeholder interests in emergent corporate governance. Ekonomicnij casopis-XXI (Economic Annals-XXI), 9-10, 52-55.
    Retrieved from https://ea21journal.world/index.php/ea-v154-12/ (in Ukr.)
16. OECD (2004). OECD Principles of Corporate Governance.
    Retrieved from http://www.oecd.org/daf/ca/corporategovernanceprinciples/32159669.pdf (in Russ.)
17. OECD (1999). OECD Principles of Corporate Governance.
    Retrieved from http://www.corp-gov.ru/projects/principles-ru.pdf (in Russ.)
18. The Bank of Russia (2014). Code of Corporate Governance. Vestnik Banka Rossii (The Bank of Russia Bulletin), 1518(40) (in Russ.).
19. Podgorny, B. B. (2013). Demand and supply in Russian stock market: social and economic analysis. Sovremennyye issledovaniya sotsialnykh problem (Present-day Research of Social Problems), 23(3).
    doi: http://dx.doi.org/10.12731/2218-7405-2013-3-23 (in Russ.)
20. Gracheva, N. A. (2013). Specific aspects of methodological approaches to economic analysis of joint-stock companies’ activity. Vestnik Yugo-zapadnogo gosudarstvennogo universiteta (Southwest State University Bulletin), 51(6), part 1, 15-19 (in Russ.).
21. E-Disclosure (2016). One third of Russian Public Joint Stock Companies have already recorded their new status in their charters.
    Retrieved from http://www.e-disclosure.ru/vse-novosti/novost/2699 (in Russ.)
22. RRIRN (2016). 2015 survey on transparency in corporate reporting of Russian companies.
    Retrieved from http://transparency2015.downstream.ru/#/ru/1337 (in Russ.)
23. Yendovitsky, D. A., & Vostrikova, L. A. (2007). Personnel remuneration: regulation, accounting and reporting, economic analysis. Moscow: UNITY-DANA (in Russ.).
24. Gracheva, N. A. (2013). Economic analysis of remuneration for members of the board of directors and top management in Russian companies. Izvestiya Uralskogo gosudarstvennogo economicheskogo universiteta (Ural State Economical University Bulletin), 145(1), 98-104 (in Russ.).
25. Raexpert (2015). Rating of Russia’s biggest companies in terms of sales volume.
    Retrieved from http://raexpert.ru/rankingtable/top_companies/2015/main (in Russ.)
26. NMLK (2015). NMLK Annual Report for the year 2014.
    Retrieved from http://lipetsk.nlmk.ru/investors/information-disclosure/annual-reports (in Russ.)
27. Polizhchuk, O. A. (2012). Building-up a long-term strategy as the priority for growth of efficiency of an industrial enterprise activity. Nauchnyye vedomosti Belgorodskogo gosudarstvennogo universiteta (Belgorod State University Scientific Bulletin), 138(19), 27-33 (in Russ.).
28. Sapozhnikova, N. G. (2013). Organizing a set of cumulative data concerning transaction costs borne by corporations. Ekonomicheskii analiz: teoriya i praktika (Economic Analysis: Theory and Practice), 341(38), 49-58 (in Russ.).

Received 12.02.2016