The Importance Of Securities In The Development Of Corporate Governance In Joint-Stock Companies

Abstract

This article examines the role of securities in strengthening corporate governance mechanisms in joint-stock companies. The issuance and circulation of securities, particularly shares and bonds, contribute to the formation of ownership structure, distribution of managerial rights, protection of shareholder interests, and improvement of company transparency. The research highlights the relationship between capital market development and the efficiency of corporate governance practices. Empirical data and comparative analysis show that companies listed on stock exchanges tend to demonstrate stronger accountability, higher performance indicators, and enhanced investment attractiveness. Recommendations are proposed for improving the securities market infrastructure and ensuring effective corporate governance in developing economies.