Risk Management of Corporate Integration of Joint-Stock Companies under Economic Globalization: Strategic and Administrative Aspects

Анотація

The article examines the problem of risk management in the corporate integration of joint-stock companies under the conditions of economic globalization, which is accompanied by increasing complexity of integration processes, intensified competitive pressure, and a higher level of uncertainty in the external environment. The purpose of the study is to substantiate the necessity of transitioning from fragmented, reactive risk management to a systemic approach that combines strategic and administrative mechanisms to ensure the sustainable development of integrated corporate structures. The research employs general scientific and specialized methods of inquiry, including analysis and synthesis, induction and deduction, systemic and structural-functional approaches, as well as classification and generalization methods. The theoretical foundations of corporate integration of joint-stock companies are presented, and the main forms of integration processes in the global economy are summarized, including mergers and acquisitions, strategic alliances, joint ventures, horizontal, vertical, and conglomerate integration. Strategic aspects of risk management in corporate integration are analyzed, including the role of strategic planning, the formation of integration strategies, and the application of modern strategic risk management tools, alongside administrative risk management mechanisms encompassing corporate governance systems, control, coordination, and monitoring procedures, management of organizational and human resource risks, and the implementation of corporate standards, compliance, and internal audit. As a result of the study, the expediency of a comprehensive approach to the identification, assessment, and management of risks associated with corporate integration is substantiated, taking into account economic, financial, strategic, administrative-managerial, and globalization-related factors. It is demonstrated that the combination of a strategic vision of integration processes with effective administrative risk management instruments contributes to enhancing the resilience of joint-stock companies, reducing the likelihood of negative consequences of integration, and forming long-term competitive advantages. The practical significance of the obtained results lies in their applicability to the development of integration strategies and risk management systems of joint-stock companies, while the prospects for further research are associated with the development of quantitative methods for assessing integration risks and the adaptation of international risk management standards to the conditions of the national economy.

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