CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION

Based on the results of a comparative study of the parameters of the theoretical justification of corporate governance formed the author's position on the problem field of corporate entities management in modern economy, which includes four groups of contradictions: 1) the contradictions for ex...

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Autores principales:	Sh. R. oglu Huseynov, M. I. Inozemtsev
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2019
Materias:	corporate governance digital transformation stakeholder big data agency costs asymmetric information International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/d530d7262ae14c9891ef9de4c024c73e
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spelling	oai:doaj.org-article:d530d7262ae14c9891ef9de4c024c73e2021-11-23T14:50:39ZCONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION2071-81602541-909910.24833/2071-8160-2018-6-63-294-316https://doaj.org/article/d530d7262ae14c9891ef9de4c024c73e2019-01-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/831https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099Based on the results of a comparative study of the parameters of the theoretical justification of corporate governance formed the author's position on the problem field of corporate entities management in modern economy, which includes four groups of contradictions: 1) the contradictions for existing theoretical approaches; 2) the contradictions arising from the use in methodological tools practice; 3) the contradictions arising from the use of business practices and methods, and not solved by replacement within the known tools; 4) predictive contradictions. The article focuses on the historically existing in corporate entities a certain lag of theoretical structures from management practice. In modern conditions of development of information and communication technologies, acting simultaneously on both external and internal environment requires adaptation, this requires modification and adjustment of corporate governance’s theories and methodology. The corporate governance’s objectives in the interpretations of the World Bank, the Organization for economic cooperation and development (OECD), the Bank of Russia, the basic principles of public companies are analyzed. The author proposes the corporate governance’s theories systematization, including: a) basic theories that explain the elements of corporate as a firm; b) conceptual theories that explain the nature and subject of relations of corporate governance’s subjects; c) corrective theories that make additions to the disclosure of corporate governance’s elements, formed in the basic and conceptual theories. It is concluded that in conditions of constant variability of the external environment, the need to reduce risks and analyze large amounts of information data, corporate governance should provide opportunities for the development and adoption of adequate decisions taking into account the time factor. The necessity of updating the corporate governance’s principles due to current trends in the digital transformation of the economy, the development of the information society and the all-encompassing penetration of networks in the processes of interaction between the company and its shareholders and disclosure. The article presents the author's interpretation of corporate governance’s main problems in the digital economy development, systematized by categories: theoretical, methodological, practical and predictive, allowing to take into account the significant parameters of the internal and external environment of modern corporations (changes in the structure of the corporation's assets, the asymmetric information impact, universal penetration of the Internet, the use of distributed databases, big data processing, etc.).Sh. R. oglu HuseynovM. I. InozemtsevMGIMO University Pressarticlecorporate governancedigital transformationstakeholderbig dataagency costsasymmetric informationInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 6(63), Pp 294-316 (2019)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	corporate governance digital transformation stakeholder big data agency costs asymmetric information International relations JZ2-6530
spellingShingle	corporate governance digital transformation stakeholder big data agency costs asymmetric information International relations JZ2-6530 Sh. R. oglu Huseynov M. I. Inozemtsev CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
description	Based on the results of a comparative study of the parameters of the theoretical justification of corporate governance formed the author's position on the problem field of corporate entities management in modern economy, which includes four groups of contradictions: 1) the contradictions for existing theoretical approaches; 2) the contradictions arising from the use in methodological tools practice; 3) the contradictions arising from the use of business practices and methods, and not solved by replacement within the known tools; 4) predictive contradictions. The article focuses on the historically existing in corporate entities a certain lag of theoretical structures from management practice. In modern conditions of development of information and communication technologies, acting simultaneously on both external and internal environment requires adaptation, this requires modification and adjustment of corporate governance’s theories and methodology. The corporate governance’s objectives in the interpretations of the World Bank, the Organization for economic cooperation and development (OECD), the Bank of Russia, the basic principles of public companies are analyzed. The author proposes the corporate governance’s theories systematization, including: a) basic theories that explain the elements of corporate as a firm; b) conceptual theories that explain the nature and subject of relations of corporate governance’s subjects; c) corrective theories that make additions to the disclosure of corporate governance’s elements, formed in the basic and conceptual theories. It is concluded that in conditions of constant variability of the external environment, the need to reduce risks and analyze large amounts of information data, corporate governance should provide opportunities for the development and adoption of adequate decisions taking into account the time factor. The necessity of updating the corporate governance’s principles due to current trends in the digital transformation of the economy, the development of the information society and the all-encompassing penetration of networks in the processes of interaction between the company and its shareholders and disclosure. The article presents the author's interpretation of corporate governance’s main problems in the digital economy development, systematized by categories: theoretical, methodological, practical and predictive, allowing to take into account the significant parameters of the internal and external environment of modern corporations (changes in the structure of the corporation's assets, the asymmetric information impact, universal penetration of the Internet, the use of distributed databases, big data processing, etc.).
format	article
author	Sh. R. oglu Huseynov M. I. Inozemtsev
author_facet	Sh. R. oglu Huseynov M. I. Inozemtsev
author_sort	Sh. R. oglu Huseynov
title	CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
title_short	CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
title_full	CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
title_fullStr	CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
title_full_unstemmed	CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION
title_sort	contradiction between the modern corporate governance’s theory and practice of businesses and companies within digital transformation
publisher	MGIMO University Press
publishDate	2019
url	https://doaj.org/article/d530d7262ae14c9891ef9de4c024c73e
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CONTRADICTION BETWEEN THE MODERN CORPORATE GOVERNANCE’S THEORY AND PRACTICE OF BUSINESSES AND COMPANIES WITHIN DIGITAL TRANSFORMATION

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