CORPORATE MANAGEMENT IN THE CONTEXT OF TRANSACTION COSTS THEORY

The article considers the issues of corporate governance in the context of transaction costs theory. The author of the article has analyzed transaction costs for basic models of corporate governance. Не expresses a suggestion, that outsider model corresponds with a mechanism of market participant interaction, and insider model corresponds with a mechanism of network interaction. The author establishes conditions for rational formation of different corporate governance models, using a transaction costs minimization criterion. The article determines the conditions of the hierarchical formation of the corporate model.