Gryzunova N.V. CORPORATE GOVERNANCE AS A MECHANISM FOR ENSURING SUSTAINABLE GROWTH AND FINANCIAL CONTROL

DOI: https://doi.org/10.15688/ek.jvolsu.2022.2.18

Natalya V. Gryzunova

Doctor of Sciences (Economics), Professor, Department of Finance for Sustainable Development, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russian Federation,  This email address is being protected from spambots. You need JavaScript enabled to view it. https://orcid.org/0000-0001-8582-7389


Abstract. Many companies are changing their financial behavior and corporate governance model in order to achieve a sufficient level of competitiveness. Corporate governance is a process of overcoming the problems of a company’s growth and identifying sources of funding, one of which is emission. At present, the problem of the relationship between corporate governance and other aspects of management, for example, with competitiveness and the search for investments, is poorly consecrated. A change in the format of financing inevitably affects the nature of corporate governance - one or another version of insider corporate governance arises. The purpose of the article is to assess the impact of the corporate governance model on the company’s growth indicators and its competitiveness. Currently, additional drivers of economic growth and tools for strengthening competitiveness are needed. If earlier, companies tried to increase the capitalization of companies, increase the efficiency of the use of resources and production, and thus increase the income of shareholders, now shareholders are interested in creating a competitive stable company with stable growth prospects. The problems of optimizing the structure of equity capital, its dependence on the stage of the life cycle, capitalization, break-even point, the number of shareholders and the status of the company are constantly being discussed. The financial behavior of market entities has changed, the volumes of disintermediation have been reduced, further differentiation of tax rates has occurred, which leads to the need for: formation of a mechanism for sustainable growth and strengthening the competitiveness of the company; creation of stable profit distribution schemes and optimization of the tax burden on investors, both for companies and individuals; differentiation of investors; ensuring adequate dividend payments.
 
Key words: taxation, dividend policy, corporate governance, financial control, behavioral approach, ranking.
 
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CORPORATE GOVERNANCE AS A MECHANISM FOR ENSURING SUSTAINABLE GROWTH AND FINANCIAL CONTROL by Gryzunova N.V. is licensed under a Creative Commons Attribution 4.0 International License.

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