Goal-Setting In The Governance Of Sustainable Development In The Region

Author(s):  V.L. Anichin, Belgorod State Agricultural University named after V. Gorin, Belgorod, Russia, vladislavanichin@rambler.ru

A.Yu. Zhelyabovskiy, Belgorod State Agricultural University named after V. Gorin, Belgorod, Russia, alex.zhelyabovskiy@gmail.com

Issue:  Volume 45, № 3

Rubric:  Regional and municipal economy

Annotation:  The empirical basis of the study was the information presented on the website of the Interfax information Agency, where Russian joint-stock companies disclose their accounting records, charters and other documents. The data collected on 3809 joint-stock companies representing 54 regions of the Russian Federation provide objective conclusions about the state and role of goal-setting. The subject of the research is the interaction of public authorities and business structures in the management of the regional economy. The aim of the study is to assess the role of goal setting in the mechanism of sustainable development of the region. For its achievement elements and types of the authorized purposes of joint-stock companies are revealed and classified; grouping of joint-stock companies by types of the authorized purposes is executed; check of statistical hypotheses on equality of average values of profitability on groups of jointstock companies with different types of the authorized purposes is carried out; the correlation and regression analysis of influence of elements of the authorized purposes on profitability indicators of joint-stock companies in the context of 54 regions of the Russian Federation is carried out. It is established that the element orienting joint-stock companies to profit prevails in the structure of statutory objectives. The average profitability for a group of joint-stock companies, whose main statutory purpose is to extract profit, does not differ significantly from the average for other groups. The average regional level of profitability of joint-stock companies is significantly positively influenced by such elements of the statutory objectives as efficiency, public interest, development of the organization. The share of profitable joint-stock companies in the region is significantly positively influenced by such elements of the statutory goals as the development of the organization, efficiency. Profit should not be seen as an end in itself, but as a concomitant effect of a business entity focused on the interests of shareholders and the public interest.

Keywords:  region; sustainable development; governance; goal setting

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