PRINCIPLES OF USING MULTI-VOTING SHARES IN CORPORATE CONTROL
R. O. Voskanian
Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Keywords: agency relations, high-tech company, majority owner, minority owner, equity, super-voting shares
Abstract
The paper explores the motives for using multi-voting shares as a tool for forming equity of a fast-growing organization. The implementation of multi-voting shares has a significant impact on the corporate control system, the strategic decisions-making. At the same time, it allows to solve the problem of financing a young organization due to limited internal resources and limited access to borrowed funds. The author has formulated the principles of corporate control through multi-voting shares, taking into account the specifics of strategic management of a fast-growing organization. These principles can be applied by organizations of any sectors of the economy at the time of the establishment of a legal entity using multi-voting shares. The application of these principles can increase the investment attractiveness of a fast-growing organization due to the predictability of the corporate control system aimed at creating favorable conditions for providing investors with capital gains.
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