Zhorova E. Development of the effective system of crisis corporate governance.

The theoretical model of the crisis corporate governance as a background to the efficient functioning of the enterprise provides an integration of different tasks of crisis management in corporate governance system. The paper summarizes foundations of crisis management and corporate governance, and as a consequence distinguishes the category "crisis corporate governance" that considers risk and crisis management at the level of executive management, board of directors, shareholders and other stakeholders. The study elucidates the reform of corporate governance body of companies. Based on the research of the main problems of corporate governance, we propose to eliminate the Audit Committee as the governance and control body of corporate governance and create instead the Crisis Committee. The organizational structure of the Crisis Committee, as new and actualized body of corporate governance in crisis situation, is study along with theoretical concept of crisis in corporate governance. Methodical principles for the assessment of effectiveness of crisis corporate governance are improved, which in contrast to the existing ones characterize the effectiveness of crisis management as well as corporate governance. Introduction of effective crisis corporate governance practices gave an option of defining the tools for achieving an optimal capital structure of the enterprise.