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The Impact of Globalization on the Development of the Stakeholder Model of Corporate Governance

Author: Irina N. Tkachenko, Dr. Sc. (Ec.), Prof., Head of Corporate Economics, Governance & Business Valuation Dprt.

Abstract: The paper examines the problems of realizing the civilized principles of corporate governance in conditions of economy globalization. Specific attention is paid to the consequences of the globalization processes that exercise significant impact on the development of the corporate governance system. The post-crisis trends in the development of the global system and national models of corporate governance as well as the ways to solve the problems within the frames of the stakeholder model of corporate governance are studied.

Key words: corporate governance; globalization; boards of directors; risk management; management opportunism; public-private partnership; principles of corporate governance.