Corporate Management as a Factor in Economic Development and Improving the Competitiveness of Businesses

S. Kalenjyan () and D. A. Zhdanov ()
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S. Kalenjyan: Russian Presidential Academy of National Economy and Public Administration (RANEPA)
D. A. Zhdanov: Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Published Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The original motivation of the present study was the interest in the peculiarities of the construction of national corporate relations and, in particular, on the basis of which as owners of domestic companies are choosing top managers for their business. A correct selection of these "agents" is traditionally one of the key elements in the formation of efficient corporate relations and effective way to reduce agency costs. Another aim of the present study was to find the answer to the question: how these affect the quality of hired top manager for the future effectiveness of its activities in this regard, to pick the best leader among several candidates, as well as a desire to describe the mechanisms of the effects on the model level. It was studied in detail the dependence of the potential impact of the top leaders of the totality of their "personal" qualities. On the basis of ordinal approach formed a model tool, assessing candidates for executive positions, and use the following conclusions. The analysis of the parameters affecting the core functionality of the management of the corporation holding type and efficiency of its operation, formed a model that describes the effect of type (a set of personal qualities) heads of individual business units of a holding corporation for the management of its core tasks. The results obtained allowed to form recommendations for the shareholders and other principals to reduce agency costs by Russian corporations by correct selection and hiring managers. It highlights the key factors that characterize agents that can provide the greatest organizational efficiency and eliminates the need of effective leaders is not enough. Formed tools can be used for the selection and hiring managers understand the mechanisms and ways of improving their effectiveness.

Keywords: corporate management; competitiveness of business; organizational efficiency (search for similar items in EconPapers)
Pages: 76 pages
Date: 2015-05-14
New Economics Papers: this item is included in nep-cis and nep-cse
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