Open AccessON CERTAIN ISSUES OF DETERMINING THE LIMITS OF DISCLOSURE OBLIGATIONS IN CORPORATE LAW
Author(s) -
Katerina Varava
Publication year - 2020
Publication title -
molodij včenij
Language(s) - English
Resource type - Journals
eISSN - 2313-2167
pISSN - 2304-5809
DOI - 10.32839/2304-5809/2020-11-87-59
Subject(s) - corporate communication , corporate governance , corporate security , stakeholder , business , accounting , corporate law , obligation , normative , public relations , political science , finance , law
The modern development of corporate governance is influenced by many factors caused by the process of globalization, the creation and implementation of unified rules for regulating corporate relations at the regional and international levels. The trend of development and implementation of social entrepreneurship as a reference point of the modern model of business formation, the transition from the system of companies, which is aimed at short-term goals of profit to long-term investments, caused changes in the corporate governance system. In particular, the policy of disclosure of corporate information as one of the most important institutions in the field of corporate relations. Corporate information and awareness of the subjects of corporate relations about the state of business plays a key role in decision-making in corporate governance. The current process of transformation of the sphere of corporate governance has significantly influenced the question of the limits of disclosure of corporate information to the executive bodies of companies. The article examines the theoretical aspects of the executive's duty to disclose information. Doctrinal approaches to the establishment of restrictions on the disclosure of certain corporate information is analyzed. The normative implementation of the obligation and its limits for the disclosure of corporate information in the legislation of foreign countries is systematized. The main tendencies of expanding the boundaries of corporate non-financial information disclosure are revealed. Ways to improve and harmonize national regulations for the disclosure of corporate information in accordance with foreign experience are proposed. It was found that providing such information not only helps to understand the company's impact on the overall economy, but also opens the company to more investors and targeted investment. The obligation to disclose corporate information is designed for the effective operation and development of the company, but it is necessary to take into account the nature of information and the possibility of its unfair use to the detriment of the company.