Problems of Realization the Functions of the Board of Directors in the Corporate Governance Structure

Abstract

Key words: corporate governance; board of directors; corporate governance; agent theory; resource theory; construction of business processes; concentrated ownership; minority shareholders, financial transparency.

Annotation. This paper considers the role and importance of the board of directors in the company. Consistently presented postulates agency and resource theory, the different approaches to determining the effectiveness of corporate governance. Particular attention is paid to the problem of constructing an optimal structure and functional board of directors, contributing to maximizing the value of the company as a key performance indicator.

Initially considered the theoretical foundations that define the essence of a body such as the board of directors, carried out a retrospective analysis of the research work in this area.

Particular emphasis in the article is on the implementation of the functions of the board of directors in a modern company aimed at improving the efficiency and image performance.

It is noted that the main contribution to the study of management powers of the board of directors have foreign scientists that actualizes the problem of adapting Western theories to the specifics of Russian business and the development of the practical elements of the theory.