Organizational and legal basis of corporate reform in the public sector of the economy under the conditions of European integration of Ukraine

The article analyzes the state and directions of development of the organizational and legal foundations of corporate reform in the state sector of the economy in the context of the tasks defined in the Association Agreement between Ukraine and the EU countries. The normative-legal and organizational principles of the implementation of measures for corporate reform of the activities of state-owned enterprises and companies were studied, the main achievements and limitations in the process of their implementation were highlighted. It is argued that as a result of the creation of supervisory boards at a number of domestic state-owned companies, the organizational model of management decision-making has changed. This made it possible to take a more balanced approach to justifying the necessary decisions and personnel appointments, to form the basis for attracting competent independent directors to participate in the work of supervisory boards, and to initiate a movement towards the implementation of established international standards of corporate governance. However, the implementation of corporate reform in the state sector of the economy of Ukraine is limited due to the fact that the creation of supervisory boards of state unitary enterprises is not accompanied by the elimination of inherent shortcomings of the organizational and legal form of these economic structures, the means of ensuring the control of the performance of the functions entrusted to the members of the supervisory boards and independent directors are not clearly fixed, there are organizational uncertainties during the competitive selection of applicants for relevant positions, the implementation of the institution of supervisory boards of state-owned companies is not consistent with efforts to implement other essential components of modern corporate management – the development of strategic plans for specific economic structures, the use of risk management mechanisms, the clear declaration of ownership policy as state level, as well as at the level of each state enterprise. Taking into account the influence of the mentioned factors, promising directions for the development of the organizational and legal foundations of corporate reform in the state sector of the economy of Ukraine are specified, measures for their implementation in modern economic conditions are outlined.