Minority shareholders vs. the state: the case of JSC "Ukneft"

Abstract

The joint-stock company "Ukrneft" is a good example for understanding the role of asymmetry of information in the corporate governance. Corporate ownership structure is characterized by high enough concentration. The state is the largest stockholder, owning 50%+1 company stock, i.e. controlling block. Besides the state, there are some large shareholders in the structure of corporate ownership of the joint stock company "Ukrneft'". They are represented by Pryvatbank, Ukrsybbank and Wotford Groups. The consolidated shareholding of these shareholders is 41 % of voting shares. The remaining 9 % of shareholder equity belong to the rest minority shareholders.Стаття містить опис особливостей взаємовідносин акціонерів та держави на прикладі компанії "Укрнафта".