Archive Issue
International Interdisciplinary Scientific Journal "Expert"
Volume 1, Issue 2
(December 2023 – January 2024)
Language of the original article: Ukrainian
АНАЛІЗ ЕФЕКТИВНОСТІ КОРПОРАТИВНОГО УПРАВЛІННЯ АГРОПРОМИСЛОВИМИ ПІДПРИЄМСТВАМИ
ABSTRACT. The article assesses the efficiency of corporate governance in the largest integrated enterprises of the agricultural sector of Ukraine. The research was conducted using the methods of induction and deduction, comparative analysis and theoretical generalization. The main provisions of large enterprises of the agricultural sector of Ukraine and their experience in implementing corporate governance were studied. The author has developed algorithms (methods) for assessing the corporate governance rating with the relevant classification areas of assessment and indicators for assessing the relevant areas, a four-level rating scale for assessing the level of formation of the corporate governance institution in integrated agricultural formations (agroholdings) of Ukraine. It is established that the main characteristic components of the assessment of the level of corporate governance are: supervisory board, board of directors, committees, corporate secretary, audit committee, charter, etc. It is determined that agriholdings whose shares are listed on international stock exchanges meet the highest level of corporate governance standards, the level of which reaches the maximum value. It is also established that this level is ensured mainly by compliance with corporate governance standards introduced by international stock exchanges (Warsaw and London). The weighted average level of corporate governance in integrated agrarian formations (agroholdings) of Ukraine is at an unsatisfactory level, which causes significant risks for shareholders and investors. It is proved that the existing theoretical and practical provisions and recommendations for the formation and development of the institution of corporate governance in integrated formations have been deepened and new theoretical and practical provisions and recommendations for the formation and development of the institution of corporate governance in integrated enterprises in the agricultural sector have been developed. The obtained practical results are a recommendation base and are aimed at solving the problems of formation and development of the institution of corporate governance of integrated enterprises in the agricultural sector, can be used by state institutions to improve the existing institutional support for the development of economic entities. The results of the research can be used by the legislative and executive bodies of the country, as well as by agrarian organizations engaged in production, harvesting and processing of products, and creation of a market system for dissemination of agricultural knowledge and information.
Keywords: agrarian enterprise, corporate management, valuation of effectiveness, integrate formation, agroholdings, joint-stock company.
2. Brealey, R., & Myers, S. (2004). Printsipy korporativnykh finansov (2nd ed.) [Principles of corporate finance]. Olimp-Biznes.
3. Mayer, K. (1996). Korporativne upravlinnia v rynkovykh ta perekhidnykh ekonomikakh. U poshukakh krashchogo direktora: Korporativne upravlinnia v rynkovykh ta perekhidnykh ekonomikakh [Corporate governance in market and transition economies. In search of a better director: Corporate governance in market and transition economies]. Osnovy.
4. Momot, T.V. (2006). Vartisno-oriientovane korporatyvne upravlinnia: vid teorii do praktychnoho vprovadzhennia [Value-oriented corporate governance: From theory to practical implementation]. KhNAMG.
5. Nazarova, G. V. (2004). Orhanizatsiini struktury upravlinnia korporatsiiamy [Organizational structures of corporate management]. VD “INZHEK”.
6. Hessel, M. (1996). Korporativnoe upravlenie: vladeltsy, direktora i naemnye rabotniki aktsionernogo obshchestva [Corporate governance: Owners, directors, and employees of a joint-stock company].
7. “Kernel Group” official site. Available at: http://wwwus.kernel.ua/rus/about/about.html
8. “Myronivskyi Hliboprodukt” official site. Available at: http://www.mhp.com.ua
9. “Astarta Kyiv” official site. Available at: http://www.astartaholding.com/
10. “Agrogeneration” official site. Available at: http://www.agrogeneration.com/ua
11. “Agroliga” official site. Available at: http://www.agroliga.com.ua/
12. “Agroton” official site. Available at: http://www.agroton.com.ua/ru/
13. “Avangard” official site. Available at: http://avangardco.ua/ru/
14. “IMS” official site. Available at: http://imcagro.com.ua/ru/
15. “KSG” official site. Available at: http://www.ksgagro.com/en
16. “Milkiland” official site. Available at: http://www.milkiland.ua/ru/
17. “Ukrproduct” official site. Available at: http://www.ukrproduct.com/
18. Slobodianyk, A.M., Mohylevska, O.Yu., & Shtanko, O.I. (2017). Suchasna paradyhma rozvytku naukovo-tekhnichnoho potentsialu pidpryiemstv promyslovoho kompleksu Ukrainy [Modern paradigm of the development of scientific and technical potential of industrial complex enterprises in Ukraine]. Ekonomika ta suspilstvo, 9. Available at: http://www.economyandsociety.in.ua.
19. Slobodianyk, A.M. (2017). Zarubizhnyi dosvid praktychnoi realizatsii antykryzovykh instrumentiv upravlinnia pidpryiemstvom [Foreign experience of practical implementation of anti-crisis management tools of an enterprise]. Visnyk Kharkivskoho natsionalnoho tekhnichnoho universytetu silskoho hospodarstva imeni Petra Vasylenka, 185, 80-86.
20. Slobodianyk, A.M., Sudyk, S.V., & Sandler, E. (2019). Optymizatsiia vyrobnychoi struktury pidpryiemstv ahrobiznesu [Optimization of the production structure of agribusiness enterprises]. Suchasni pytannia ekonomiky i prava: zb. nauk. prats, 1(9), 60-69.
21. Slobodianyk, A.M., Plotnik, P.A., & Zazymko, S.A. (2020). Problema vprovadzhennia suchasnoho upravlinnia ahrokholdynhom v umovakh didzhitalizatsii [The problem of implementing modern management of agroholdings in the conditions of digitalization]. Efektyvna ekonomika, (4 ). Available at: http://www.economy.nayka.com.ua/?op=1&z=7808
22. Slobodianyk, A.M., & Syza, V.O. (2021). Udoskonalennia modeli intehrovanoi systemy menedzhmentu yakosti na ahropromyslovykh pidpryiemstvakh [Improvement of the model of integrated quality management system at agro-industrial enterprises]. Agrosvit, (4), 45–50.
23. Mohylevska, O.Yu., Romanova, L.V., & Slobodianyk, A.M. (2021). Problemy formuvannia liudskoho kapitalu v systemi upravlinnia personalom na promyslovykh pidpryiemstvakh mashynobudivnoho kompleksu Ukrainy [Problems of human capital formation in the personnel management system at industrial enterprises of the machine-building complex of Ukraine]. Ekonomika ta suspilstvo, (28). Available at: https://www.economyandsociety.in.ua/index.php/journal/article/view/512
24. Namliiev, Y., & Kacicka, G. (2022). Topical problems of regulating the economic activity of enterprises and developing a system of anticrisis management in market conditions. New Knowledge Journal of Science, 11(4), 5-12. Available at: https://science.uard.bg/index.php/newknowledge/article/view/940/pdf_379
АНАЛІЗ ЕФЕКТИВНОСТІ КОРПОРАТИВНОГО УПРАВЛІННЯ АГРОПРОМИСЛОВИМИ ПІДПРИЄМСТВАМИ
ABSTRACT. The article assesses the efficiency of corporate governance in the largest integrated enterprises of the agricultural sector of Ukraine. The research was conducted using the methods of induction and deduction, comparative analysis and theoretical generalization. The main provisions of large enterprises of the agricultural sector of Ukraine and their experience in implementing corporate governance were studied. The author has developed algorithms (methods) for assessing the corporate governance rating with the relevant classification areas of assessment and indicators for assessing the relevant areas, a four-level rating scale for assessing the level of formation of the corporate governance institution in integrated agricultural formations (agroholdings) of Ukraine. It is established that the main characteristic components of the assessment of the level of corporate governance are: supervisory board, board of directors, committees, corporate secretary, audit committee, charter, etc. It is determined that agriholdings whose shares are listed on international stock exchanges meet the highest level of corporate governance standards, the level of which reaches the maximum value. It is also established that this level is ensured mainly by compliance with corporate governance standards introduced by international stock exchanges (Warsaw and London). The weighted average level of corporate governance in integrated agrarian formations (agroholdings) of Ukraine is at an unsatisfactory level, which causes significant risks for shareholders and investors. It is proved that the existing theoretical and practical provisions and recommendations for the formation and development of the institution of corporate governance in integrated formations have been deepened and new theoretical and practical provisions and recommendations for the formation and development of the institution of corporate governance in integrated enterprises in the agricultural sector have been developed. The obtained practical results are a recommendation base and are aimed at solving the problems of formation and development of the institution of corporate governance of integrated enterprises in the agricultural sector, can be used by state institutions to improve the existing institutional support for the development of economic entities. The results of the research can be used by the legislative and executive bodies of the country, as well as by agrarian organizations engaged in production, harvesting and processing of products, and creation of a market system for dissemination of agricultural knowledge and information.
Keywords: agrarian enterprise, corporate management, valuation of effectiveness, integrate formation, agroholdings, joint-stock company.
References
1. Ansoff, I. (1999). Novaia korporativnaia strategiia [New corporate strategy]. Piter Kom.2. Brealey, R., & Myers, S. (2004). Printsipy korporativnykh finansov (2nd ed.) [Principles of corporate finance]. Olimp-Biznes.
3. Mayer, K. (1996). Korporativne upravlinnia v rynkovykh ta perekhidnykh ekonomikakh. U poshukakh krashchogo direktora: Korporativne upravlinnia v rynkovykh ta perekhidnykh ekonomikakh [Corporate governance in market and transition economies. In search of a better director: Corporate governance in market and transition economies]. Osnovy.
4. Momot, T.V. (2006). Vartisno-oriientovane korporatyvne upravlinnia: vid teorii do praktychnoho vprovadzhennia [Value-oriented corporate governance: From theory to practical implementation]. KhNAMG.
5. Nazarova, G. V. (2004). Orhanizatsiini struktury upravlinnia korporatsiiamy [Organizational structures of corporate management]. VD “INZHEK”.
6. Hessel, M. (1996). Korporativnoe upravlenie: vladeltsy, direktora i naemnye rabotniki aktsionernogo obshchestva [Corporate governance: Owners, directors, and employees of a joint-stock company].
7. “Kernel Group” official site. Available at: http://wwwus.kernel.ua/rus/about/about.html
8. “Myronivskyi Hliboprodukt” official site. Available at: http://www.mhp.com.ua
9. “Astarta Kyiv” official site. Available at: http://www.astartaholding.com/
10. “Agrogeneration” official site. Available at: http://www.agrogeneration.com/ua
11. “Agroliga” official site. Available at: http://www.agroliga.com.ua/
12. “Agroton” official site. Available at: http://www.agroton.com.ua/ru/
13. “Avangard” official site. Available at: http://avangardco.ua/ru/
14. “IMS” official site. Available at: http://imcagro.com.ua/ru/
15. “KSG” official site. Available at: http://www.ksgagro.com/en
16. “Milkiland” official site. Available at: http://www.milkiland.ua/ru/
17. “Ukrproduct” official site. Available at: http://www.ukrproduct.com/
18. Slobodianyk, A.M., Mohylevska, O.Yu., & Shtanko, O.I. (2017). Suchasna paradyhma rozvytku naukovo-tekhnichnoho potentsialu pidpryiemstv promyslovoho kompleksu Ukrainy [Modern paradigm of the development of scientific and technical potential of industrial complex enterprises in Ukraine]. Ekonomika ta suspilstvo, 9. Available at: http://www.economyandsociety.in.ua.
19. Slobodianyk, A.M. (2017). Zarubizhnyi dosvid praktychnoi realizatsii antykryzovykh instrumentiv upravlinnia pidpryiemstvom [Foreign experience of practical implementation of anti-crisis management tools of an enterprise]. Visnyk Kharkivskoho natsionalnoho tekhnichnoho universytetu silskoho hospodarstva imeni Petra Vasylenka, 185, 80-86.
20. Slobodianyk, A.M., Sudyk, S.V., & Sandler, E. (2019). Optymizatsiia vyrobnychoi struktury pidpryiemstv ahrobiznesu [Optimization of the production structure of agribusiness enterprises]. Suchasni pytannia ekonomiky i prava: zb. nauk. prats, 1(9), 60-69.
21. Slobodianyk, A.M., Plotnik, P.A., & Zazymko, S.A. (2020). Problema vprovadzhennia suchasnoho upravlinnia ahrokholdynhom v umovakh didzhitalizatsii [The problem of implementing modern management of agroholdings in the conditions of digitalization]. Efektyvna ekonomika, (4 ). Available at: http://www.economy.nayka.com.ua/?op=1&z=7808
22. Slobodianyk, A.M., & Syza, V.O. (2021). Udoskonalennia modeli intehrovanoi systemy menedzhmentu yakosti na ahropromyslovykh pidpryiemstvakh [Improvement of the model of integrated quality management system at agro-industrial enterprises]. Agrosvit, (4), 45–50.
23. Mohylevska, O.Yu., Romanova, L.V., & Slobodianyk, A.M. (2021). Problemy formuvannia liudskoho kapitalu v systemi upravlinnia personalom na promyslovykh pidpryiemstvakh mashynobudivnoho kompleksu Ukrainy [Problems of human capital formation in the personnel management system at industrial enterprises of the machine-building complex of Ukraine]. Ekonomika ta suspilstvo, (28). Available at: https://www.economyandsociety.in.ua/index.php/journal/article/view/512
24. Namliiev, Y., & Kacicka, G. (2022). Topical problems of regulating the economic activity of enterprises and developing a system of anticrisis management in market conditions. New Knowledge Journal of Science, 11(4), 5-12. Available at: https://science.uard.bg/index.php/newknowledge/article/view/940/pdf_379
© 2024 The Author(s)
This work is licensed under the Creative Commons Attribution 4.0 International (CC BY 4.0).
Korol, O., Kirgan, O., Taranenko, F., Havrylenko, M. & Lysov, O. (2024). ANALYSIS OF THE EFFICIENCY OF CORPORATE GOVERNANCE OF AGRO-INDUSTRIAL ENTERPRISES. International Interdisciplinary Scientific Journal "Expert", 1(2), 83-98. https://doi.org/10.62034/2815-5300/2024-v1-i2-006
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