STATE REGULATION OF CORPORATE RELATIONS IN UKRAINE

Abstract

The article considers features of the state regulation of corporate relations from the point of view of crea-tion of organizational bases of functioning of the corporate ownership enterprises in the conditions of market relations. The institutional processes taking place today in the national economy of Ukraine are largely related to the formation of the mechanism of state management of corporate relations, taking into account the modern type of transformational market economy. One of the most important elements of the external environment of corporate governance is state regulation of the corporate sector. In general, state regulation as one of the areas of corporate governance goes beyond the direct management of state-owned enterprises and corporate type business associations. Creating a holistic organi-zational and legal framework for the functioning of the economy, the state in one way or another regulates various aspects of corporate enterprises activities. Regulation is carried out by bodies of general and special competence. This approach is common to all countries and means that that regulations are issued at the legislative level, which has the force of law and regulates the general framework for the corporate sector functioning. The study found that organizational and legal regulation of corporate structures identified the following trends in corporate governance: strengthening the requirements for information disclosure, increasing the role of owners' control over management, strengthening state control over corporations, development of legislation for protecting the rights of small shareholders and creditors, strengthening the regulation of the issue of shares, changes in the authorized capital, increasing attention to the reorganization of corporations. At the same time, during the period of independent development of Ukraine's economy, state regulation of corporate relations concerned issues of internal construction and functioning of corporate structures, interaction with other business structures and public authorities, formation the principles of the securities market functioning.