IMPLEMENTATION OF MERGERS AND ACQUISITIONS CONSIDERING DIFFERENT MODELS OF CORPORATE GOVERNANCE

Gorbunov Stanislav Valeryevich

In the context of economic turbulence, sanctions pressure and structural transformations, domestic companies were forced to adapt to new realities. Limited access to Western capital, changes in legislation related to the control of foreign investment, as well as import substitution processes have significantly affected the nature and dynamics of mergers and acquisitions. This article examines the specifics of M&A transactions taking into account various corporate governance models. Particular attention is paid to the influence of the corporate governance system on the specifics of M&A transactions, including mechanisms for control, protection of shareholders' rights and risk management of a "hostile" takeover. The work identifies patterns that determine the predisposition of individual models to practices within the framework of M&A transactions and the success of integration processes depending on the corporate governance structure.

Keywords:mergers, acquisitions and takeovers, M&A transactions, corporate governance theory and practice, corporate governance models, agency problem, Anglo-American corporate governance model, German corporate governance model, Japanese corporate governance model, hostile takeovers