Theoretical Approaches to Determining the Economic Essence of Corporate Control in Joint-Stock Companies

This article explores theoretical approaches to defining the economic nature and essence of corporate control in joint-stock companies. The study of the concept of corporate control within the context of modern doctrine reveals its complexity and dependence on national legal and economic characteristics. In Ukraine, where corporate governance is undergoing significant transformations, corporate control has become particularly relevant. It is implemented not only through formal mechanisms such as general assemblies of shareholders or boards of directors but also through less obvious forms of influence, such as internal audits, corporate culture, and the impact of state authorities. Corporate control is defined as a key managerial function carried out by owners and other stakeholders interested in the activities of the joint-stock company. This function provides access to insider information and enables the adjustment of managerial decisions, promoting effective feedback and optimization of task execution. Additionally, it has been proven to focus on enhancing efficiency. In particular, corporate control in joint-stock companies differs from standard control and management systems of ordinary enterprises by focusing on effectively balancing the interests of all stakeholders, which includes the development and use of a well-thought-out corporate control system. Both physical and legal persons, as subjects of corporate control, provide not only monitoring but also active management influence using mechanisms that meet the needs of the environment and the interests of involved parties. It is substantiated that corporate control in joint-stock companies plays an important multifaceted role that includes resolving conflicts, ensuring effective interaction among stakeholders, and enhancing overall productivity. This function is critically important for ensuring the stable and prolonged development of companies in the rapidly changing conditions of modern business. The effectiveness of corporate control in Ukraine must be ensured through a proper understanding of its nature, which includes the ability to adapt to changing business conditions and incorporating a wide range of interested parties in the management process.