Market for executives in Ukraine: executive decision making and its efficiency

Abstract

Transformation of the structure of corporate ownership in Ukraine should be followed with transformation of approaches to decision making at all levels. This concerns executives, who are responsible for the day-to-day management of a company. As Berle and Means noted, to govern companies effectively, executives should avoid conflict of interests and managerial opportunism. This will facilitate reducing agency costs and improve corporate performance. From this perspective, executive nomination and monitoring play the most important role in reaching the above objective. Both these corporate control mechanisms are established by shareholders. Therefore, we suppose that the executive performance depends on the structure of corporate ownership and the type of controlling owner.

В статті наводиться аналіз реформ корпоративного управління в банках в умовах кризи. Критично розглядається суть заходів та документів, орієнтованих на відновлення стабільності фінансового сектору, що були впроваджені органами фінансового нагляду.