Political economic analysis of prerequisites for creation effective corporate structures

Abstract

The article provides political economic analysis of advantages and disadvantages of corporate structures of various types (joint stock companies, trusts, corporations, etc.). Based on their balance, we will try to identify the prerequisites for creating effective corporate structures in the past and now. To this end, economic theories of the development of the corporate sector of economics are considered in the works of representatives of mercantilism, classical political economy, historical school, Marxism, social democracy, neoclassicism, neoliberalism, institutionalism, evolutionary development, Keynesianism, neo-institutionalism, monetarism and transformation of capitalism. The following advantages of corporate structures are singled out and analyzed: concentration and centralization of capital, strong competitive positions, high market value of assets, high profitability, innovatization of economic activity, separation of management from property and limited responsibility of investors, democratization of capital, development of social (including international) division of labor and vertical integration of production, orientation to integration of production and creation of "islands of socialism," social responsibility. The main disadvantages of corporate structures include: contradictions between the owners of capital and between them and employees, increased property differentiation of citizens and the growth of a dormant class, closeness and family-clan character, influence on politicians, monopolization of markets, orientation to economic colonization of other countries, financialization of the economy, significant costs for the technostructure and inefficiency of its control, large transaction costs and neglect of small benefits, tax problems transactions. A superposition of advantages and disadvantages of corporate structures is carried out. It is noted that they have more advantages than disadvantages. It is emphasized that the most critical attitude towards corporate structures is noted among representatives of classical political economy (in particular, A. Smith), Marxism and the historical school. It is concluded that in modern conditions corporate structures are the most important organizational form of business and at the same time the basis of the economy of most countries, including Ukraine. In this regard, it is noted that it is necessary to take a maximum advantage of corporate structures and avoid their shortcomings.