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7CORPORATION IN THE SYSTEM OF STATE REGULATION OF THE
ECONOMY
Rajapova Oyshajon Farxadovna
Tashkent State University of Economics MKB-10th group master's student
Abstract. The article deals with the issue of the key importance of corporations in the processes of globalization of the world economy. The corporation as an economic system is being investigated, the signs that allow it to be considered in this quality are revealed. The methods of state regulation of corporations are highlighted. Measures for further improvement of the system of state regulation of corporations are presented.
Keywords: Corporation, economy, TNK, taxes, capital, costs, GDP, legislative system.
Аннотация. В статье рассматривается вопрос, касающийся ключевого значения корпораций в процессах глобализации мировой экономике. Исследуется корпорация как хозяйственная система, выявляются признаки, позволяющие рассматривать ее именно в таком качестве. Освещены методы государственного регулирования деятельности корпораций. Представлены меры по дальнейшему усовершенствованию системы государственного регулирования деятельности корпораций.
Ключевые слова: Корпорация, экономика, ТНК, налоги, капитал, издержки, ВВП, законодательная система.
Annotatsiya. Maqolada jahon iqtisodiyotining globallashuv jarayonlarida korporatsiyalarning asosiy ahamiyati ko'rib chiqiladi. Korporatsiya iqtisodiy tizim sifatida o'rganiladi, uni bunday sifatda ko'rib chiqishga imkon beruvchi belgilar aniqlanadi. Korporatsiyalar faoliyatini davlat tomonidan tartibga solish usullari yoritilgan. Korporatsiyalar faoliyatini davlat tomonidan tartibga solish tizimini yanada takomillashtirish chora-tadbirlari taqdim etildi.
Kalit so'zlar: Korporatsiya, iqtisodiyot, TNK, soliq, kapital, xarajatlar, YAIM, Qonunchilik tizimi.
Introduction. Currently, serious attention is paid to the fundamental issues of the development of effective forms of production organization, their impact on the quality and dynamics of macroeconomic results. One of the most important ways to overcome the negative aspects of the reform is the formation of corporations -scientific, industrial, financial structures that would be able to ensure the growth and development of the economy in market conditions. The term corporation was originally born as a synonym for a legal entity, assumed the formation of a legal entity as a result of the merger of the capitals of its participants to achieve different goals. Currently, a corporation is regarded as an entrepreneurial combination of capital. It also means an association of people or organizations that legally function
as one person and have rights and obligations that differ from the members who join it.
Analysis of thematic literature. This article provides an analysis of scientific papers devoted to the development of corporations for the period 1975-2022, and also examines the main factors affecting the development of the state economy.
The role of corporations in the economy, state regulation, problems and ways to solve them were studied by such scientists as: Khabirov, V.R., Kudina, O.V., Belykh V.S., Laptev V.V., Mikhailov N.I., Shitkina I.S., etc.
The main reason for the emergence of the corporation is:
1) The concentration of funds, unattainable for individual owners, which allows to expand production opportunities and market share.
2) Reduction of unit costs per unit of production or cost savings as a result of the scale of production.
3) Distribution of risks and responsibilities between the participants, which reduces the possible losses of each.
In foreign countries, corporations are characterized by a number of differences:
• the presence of owners - shareholders who regulate the activities of the corporation. They necessarily coordinate decision-making, for this purpose a Board of Directors is created. A corporation is characterized by delegation of authority and there may be several decision-making centers;
• a multi-level management apparatus that needs a specific construction of a regulatory scheme and a control system;
• taking a leading position in the market, which allows corporations to manage it, develop new products and actively introduce them to the market;
• a significant size of the business and a significant number of employees. In foreign countries, the number of employees of the corporation can reach up to 5 thousand people.
There are the following signs of corporate classification:
• transnational;
• interstate;
• national;
• industry;
• regional;
• an enterprise as an independent economic entity.
In a number of sectors of the global and national economies, the leading corporations are those that unite in unions and to a greater extent determine and regulate the development of the relevant market segment. Transnational corporations (TNCs) control more than 40% of industrial production in the world, half of international trade. The volume of products produced at TNK enterprises annually exceeds $ 6 trillion. They employ more than 73 million employees, i.e. every tenth employed in the world, excluding agriculture. The number of employees of multinational firms is very large. The 500 most powerful TNCs sell 80% of all
electronics and chemical products, 95% of pharmaceuticals, 76% of mechanical
engineering products. 85 of them control 70% of all foreign investments.
Pic 1. The largest TNCs in the world in 2019 [1]
Even if he is very critical of large corporations, it is impossible to deny their decisive role in the economy. The four hundred largest corporations generate more than half of GDP: only the top ten account for 22% of GDP, 31% of tax revenues and 32% of exports. Large companies are growing rapidly: over the past six years, they have more than tripled revenue growth. They form the demand for equipment and services. They are no longer as tied to raw materials as is commonly thought. The revenue of industrial holdings outside the fuel and energy complex has grown 18.5 times over the decade. And the share of revenue of large companies created in the post-perestroika period (primarily financial services, high technology, telecommunications, trade) has doubled in the last year alone and is already 12% of the revenue of all companies. Corporations need globalization not only to gain new markets. Many companies lack raw materials or production capacity. Finally, the transnational presence makes it possible to diversify the business, reduce risks.
Research methodology. Due to the need to strengthen the role of the state in the economy, large corporations began to be created in Uzbekistan using two models of their organization: state corporations proper ("Uzneftegaz", "Uzavto"), established on the basis of relevant state laws and not having membership, and branch joint-stock companies whose shares belong to the state. Thus, this system allows you to preserve the industry specialization of associations and enterprises. The state creates state corporations for targeted use of budgetary funds, to support activities in areas where representatives of private business are in no hurry to spend money, not seeing prospects for early profit. In addition, the state was forced to create state corporations to strengthen its influence on the economy. As S.N.Shishkin notes, state corporations are necessary for the economy and, in particular, for the purposes of state support of its specific spheres. At the same time, attention should be paid to the fact that the
state can influence any subjects of economic activity, regardless of their organizational and legal forms.
Pic 2. The share of corporations in the revenues of the state budget of the
Republic of Uzbekistan in 2022 [2]
The transfer of state functions to essentially commercial organizations may mean that state corporations will participate in legislative activities, and eventually large corporations will take control of competition in the economy and they will be guaranteed huge profits. A special form of organization of state corporations is such entities as holding.
The methods of state regulation of the corporation are:
• administrative methods in direct prescriptions that are mandatory for economic bodies, regardless of the interest in their implementation;
• stimulation of economic activity through material incentives and property responsibility for the results of work;
• state control over compliance with legislation by business entities;
• external control over the activities of corporations.
This control is carried out in order to ensure the interests of the whole society, to exclude the possibility of harmful effects of industrial and economic activities on the environment, health and safety of people, causing damage to the security of the state as a whole.
It is necessary to build a state policy aimed at liberalizing antitrust measures, expanding funding for research and development in the production sector, providing assistance to domestic holdings, using the potential of foreign corporations by involving them in mutually beneficial partnership with the largest Russian associations.
Conclusion. Summing up, we note that the prospect of the world economy depends on corporations and their alliances, and this is the creation of new industries, an increase in the number of jobs, studying and adapting to new markets. Thus,
corporations and the holdings created on their basis are the main industry business entities accumulating huge monetary, property, technical and export potentials.
List of sources and literature used
1. Hownuch.net - World's largest multinational companies. 2019.
2. ia-centr.ru - the largest taxpayers of Uzbekistan. 2022
3. Khabirov, V.R. On the question of defining the concept of a corporation/ V.R. Khabirov // Approbation. 2014.
4. Kudina, O.V. Theoretical and legislative aspects of innovative activity of corporations / O.V. Kudina //In the world of scientific discoveries. 2012
5. Belykh V.S. Legal regulation of entrepreneurial activity. M., 2015.
6. Laptev V.V. Legal forms and methods of industrial management. M., 1975.
7. Mikhailov N.I. Legal features of holding models of construction of production and economic (financial) complexes of innovative orientation // Proceedings of the Institute of State and Law of the Russian Academy of Sciences. 2012.
8. Shitkina I.S. Legal regulation of the organization and activity of the holding as a form of entrepreneurial association: Abstract. diss. ... doct. jurid. sciences. M., 2006.
