Determination of the state's purposes in a joint-stock company with state participation

Abstract

The article analyses the legal status of joint-stock companies with state participation in terms of determination of the state’s purposes. The conclusion is made that joint-stock companies with state participation carry out their activities not only with the purpose to make profit, but also to implement socially desirable and socially useful purposes of the state. Determination of the state’s purposes in a joint-stock company is relevant both for securing the interests of private shareholders of the joint-stock companies and for establishing an effective system of corporate governance.

Keywords:

state, joint-stock company, making profit, board of directors, strategic joint-stock company