Restructuring of the corporate sector of national economy: content and mechanism of realization


  • S. I. Gusakov National academy of public administration under the President of Ukraine
Keywords: enterprise restructuring, corporate economics restructuring, corporation, restructuring forms, restructuring directions

Abstract

The article is devoted to the consideration of the definition and content of the national economy’s corporate sector restructuring. Restructuring has been studied in the narrow and broad understanding. In the broad conception, restructuring has been defined as a system of structural and institutional changes both inside the enterprises and out of them that influences the competitiveness of the corporations and its alliances, and also its activity effectiveness. In the narrow conception the restructuring has been defined as structural changes in the corporate economics in order to optimize its activity. A lot of attention has been given to the necessity of priorities changes from intention only to increase pure income to the intention to create balance between social and private interests. Otherwise the rising difference between rich and poor population will become extremely big. The author has come to the conclusion that restructuring and reformation are synonymous categories and that there are different kinds of restructuring such as structural, economic, adaptive and complex. The last one includes all the previous. Besides, according to the valid legislation, restructuring also includes legal measures in order to improve corporate sector of national economy. Thus, despite the opinion of the most of scientists, the institutional changes are now the part of the restructuring of the corporate sector of national economy.It has been suggested to distinguish three directions of the restructuring: inner corporate restructuring; restructuring of relations; economics conditions restructuring. Inner corporate restructuring includes property forms changes, entity structure changes, capital structure changes, form of incorporation changes, management bodies changes, management changes, staff politics changes, reorganization, liquidation, privatization, corporatization. Restructuring of relations includes sales market changes, conversion of enterprises, diversification, contractor’s changes, property assignation, lease, concession, franchising, debt’s restructuring, changes of credit politics, technical supplement, using alternative power sources, standardization etc. Economics conditions restructuring includes regulation and legislation changes, tax regulation changes, currency market changes, changes in credit policies, changers in stock market. Accordingly, every restructuring direction includes many mechanisms of its possible fulfillment. The author has distinguished twenty six mechanisms all the restructuring and they are presented in the table form.The corporate management models’ use in correlation to corporate restructuring models has been described in the article. The author has come to the conclusion that pragmatic model of the corporate restructuring is more preferable in comparison with world recognized valuable model because of the peculiarities of the post-social economy in Ukraine.

References

1. Andriievska, Ye. V., 2012. Obhruntuvannia mekhanizmu restrukturyzatsii mashynobudivnoho pidpryiemstvaAndrievska [Grounds of the Mechanism of Restructuring of the Mashing-building Plant]. Visnyk Donetskoho natsionalnoho universytetu ekonomiky i torhivli imeni Mykhaila Tuhan-Baranovskoho 3 (55), 55-67 (in Ukrainian).
2. Arefiev, S. O., 2014. Restrukturyzatsiia pidpryiemstva: pidkhody, sutnist skladovi [Company Restructuring: Methods, Nature, Components]. Menedzher 2, 129-134 (in Ukrainian).
3. Bilyk, M., 2011. Sutnist ta klasyfikatsiia restrukturyzatsii derzhavnykh pidpryiemstv [Nature and Classification of the State Companies’ Restructuring]. Ekonomist 1, 96-99 (in Ukrainian).
4. Vorotin, V.Ie., 2013. Modyfikatsiia promyslovoho sektoru Ukrainy yak obiektu derzhavnoho upravlinnia: teoretychni pytannia [Industrial Sector Modification in Ukraine as an Object of the Public Administration: theoretical questions]. Teoretychni i praktychni aspekty ekonomiky ta intelektualnoi vlasnosti 1 (2), 43-48 (in Ukrainian).
5. Hospodarskyi kodeks Ukrainy: Zakon Ukrainy vid 16.01.2003 r. (iz zminamy i dopovnenniamy) [Economic Code of Ukraine dated 16.01.2003 (as amended)] . Аccess mode:http: //zakon1.rada.gov.ua
6. Dovbnya, S. B., 2012. Metodicheskie osnovyi i napravleniya restrukturizatsii predpriyatiy v promyishlennosti: monografiya [Methodological Basis and Trends of the Industrial Companies’ Restructuring]. Dnepropetrovsk: Nauka i Obrazovanie, 312 (in Russian).
7. Yefimova, H. V., 2013. Orhanizatsiino-ekonomichnyi mekhanizm restrukturyzatsii subnobudivnoho pidpryiemstva [Organizing and Economical Mechanism of Shipbuilding Company Restructuring]. Ekonomichni innovatsii 52, 83-92 (in Ukrainian).
8. Zuieva, L. S., 2014. Ekonomichnyi mekhanizm restrukturyzatsii pidpryiemstv [Economical Mechanism of Company Restructuring]. Ekonomika. Finansy. Pravo. 10, 38 (in Ukrainian).
9. Komar, N. H. Kontseptsiia pobudovy mekhanizmu restrukturyzatsii pidpryiemstv [Conception of Company’s Restructuring Mechanism]. Biznesinform 10, 260-267 (in Ukrainian).
10. Podatkovyi kodeks Ukrainy: Zakon Ukrainy vid 02.12.2010 r. (iz zminamy i dopovnenniamy) [Tax Code of Ukraine dated 02.12.2010 (as amended)]. Аccess mode:http://zakon3.rada.gov.ua/laws/show/2755-17
11. Pro vidnovlennia platospromozhnosti borzhnyka abo vyznannia yoho bankrutom: Zakon Ukrainy vid 30.06.1999 r. (iz zminamy i dopovnenniamy) [On Renewal of the Solvency of the Debtor or Recognition of its Bankruptcy: Law of Ukraine dated 30.06.1999 (as amended)]. Аccess mode:http://zakon3.rada.gov.ua/laws/show/2343-12
12. Pro derzhavnu reiestratsiiu yurydychnykh osib ta fizychnykh osib - pidpryiemtsiv: Zakon Ukrainy vid 15.05.2003 (iz zminamy i dopovnenniamy) [On the Jurudical Person and Privat Person – Enterpreneur State Registration: Law of Ukraine dated 15.05.2003 (as amended)] . Аccess mode:http://zakon0.rada.gov.ua/laws/show/755-15
13. Pro zatverdzhennia Poriadku peretvorennia derzhavnoho unitarnoho komertsiinoho pidpryiemstva v aktsionerne tovarystvo: Postanova Kabinetu Ministriv Ukrainy vid 29.08.2003 r. (iz zminamy i dopovnenniamy) [On enacting an Order of Unitary State Commercial Entity Transformation into Joint-Stock Company: Regulation of the Ukrainian Cabinet dated 29.08.2012 # 802 (as amended)]. Аccess mode:http://search.ligazakon.ua/l_doc2.nsf/link1/KP120802.html
14. Pro kontsesii: Zakon Ukrainy vid 16.07.1999 r. (iz zminamy i dopovnenniamy) [On Concession: Law of Ukraine dated 16.07.1999 (as amended)]. Аccess mode:http://zakon3.rada.gov.ua/laws/show/997-14
15. Pro orendu derzhavnoho i komunalnoho maina: Zakon Ukrainy vid 10.04.1992 r. (iz zminamy i dopovnenniamy) [On State and Municipal Property Lease: Law of Ukraine dated 10.04.1992 (as amended)]. Аccess mode:http://zakon3.rada.gov.ua/laws/show/2269-12
16. Pro pryvatyzatsiiu derzhavnoho maina: Zakon Ukrainy vid 04.03.1992 r. (iz zminamy i dopovnenniamy) [On Public Property Privatization: Law of Ukraine dated 04.03.1992 (as amended)]. Аccess mode:http://zakon0.rada.gov.ua/laws/show/2163-12/ed19990119
17. Pro finansovyi lizynh: Zakon Ukrainy vid 11.12.2003 r. (iz zminamy i dopovnenniamy) [On Financial Lease: Law of Ukraine dated 11.12.2003 (as amended)]. Аccess mode:http://search.ligazakon.ua/l_doc2.nsf/link1/Z970723.html
18. Pro tsinni papery ta fondovyi rynok: Zakon Ukrainy vid 23.02.2006 r. (iz zminamy i dopovnenniamy) [On Stock and Stock Market: Law of Ukraine dated 23.02.2006 (as amended)] . Аccess mode:http://zakon5.rada.gov.ua/laws/show/3480-15
19. Rozputenko, I. V., 2013. Defitsyt derzhavnoho upravlinnia: idealy i pryvatyzatsiia [Deficit of public Administration: Ideals and Pravatization]. Statystyka Ukrainy 3, 65-69 (in Ukrainian).
20. Rozputenko, I. V., 2013. Pozarynkovi rehuliatory ekonomichnoho rozvytku v systemi derzhavnoho upravlinnia [Uncommercial Factors of Economic Development in the System of Public Administration]. Naukovyi visnyk Akademii munitsypalnoho upravlinnia. Seriia: Upravlinnia 4, 59-70 (in Ukrainian).
21. Riabov, V., 2011. Ekonomichna reforma na rivni pidpryiemstv [Economical Reform on the Level of Enterprise]. Ekonomichni reformy sohodni 32, 33–39 (in Ukrainian).
22. Safronova, O. M., 2012. Ryzyky realizatsii derzhavnoi pryvatyzatsiinoi polityky v suchasnykh umovakh Ukrainy [Risks of State Privatization Politics Realization under modern conveniences in Ukraine]. Visnyk Natsionalnoi akademii derzhavnoho upravlinnia pry Prezydentovi Ukrainy 1, 180-187 (in Ukrainian).
23. Semenenko, V. V., 2005. Derzhavne rehuliuvannia protsesiv restrukturyzatsii v realnomu sektori ekonomiky: dys. kand. … nauk z derzh. upr.: 25.00.02 [Public Regulation of Restructuring Process in the Real Sector of Economics: Thesis Work in Public Administration: 25.00.02]. Kyiv: B. v., 200 (in Ukrainian).
24. Stechenko, D. M., Omelchenko O. S., 2011. Systemnyi pidkhid do klasyfikatsii vydiv restrukturyzatsii pidpryiemstv i stvorennia mekhanizmu yii planuvannia ta zdiisnennia [System Approach to the Classification of the Kinds of Companies’ Restructuring and Creation of the Mechanism of its Planning and Realization ]. Ekonomichnyi visnyk NTUU «KPI» 11, 330-338 (in Ukrainian).
Published
2016-08-12
How to Cite
Gusakov, S. (2016). Restructuring of the corporate sector of national economy: content and mechanism of realization. Public Administration Aspects, 4(9-10), 42-53. https://doi.org/10.15421/152016849
Section
Mechanisms of public management