Actual problems of innovative economy and law

Journal "Actual problems of innovative economy and law" is included in category B for specialties: in the field of knowledge "Management and administration": 073, 076 (order of the Ministry of Education and Science of Ukraine dated 23.08.2023 No. 1035) and 071, 072, 075 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543); in the field of knowledge "Social and behavioral sciences" 051 (order of the Ministry of Education and Science of Ukraine dated August 23, 2023 No. 1035); in the field of knowledge "Law" - 081 and "Public management and administration" - 281 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543).
Registration of an entity in print media: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1390 dated 11/16/2023. Media identifier: R30-02018
The journal is indexed in the International Scientific Center of Index Copernicus International

Mechanism for integration of European standards of sustainable corporate governance into the economic security system of enterprises in Ukraine

# 13 79-86 Download/view the full text of the article

УДК: 338.246.025:330.341:006(4-6EU)

DOI: https://doi.org/10.36887/2524-0455-2026-3-13

Zamlynskyi Viktor,
Doctor of Economics, Professor,
Odesa National Technological University,
https://orcid.org/0000-0001-7642-2443
Gorodnichenko Stanislav,
Third-level higher education student,
Odesa National Technological University,
https://orcid.org/0009-0002-6159-284X
Shevchenko Valerii,
Candidate of Science in Economics, Assistant of the Department of Management,
Odesa State Agrarian University,
https://orcid.org/0009-0005-6506-0914

The article examines the transformation of corporate governance of Ukrainian enterprises under the influence of European requirements for corporate sustainability, transparency, due diligence, and management of environmental, social, and management risks. It is substantiated that corporate governance should be considered not only as a system of distribution of powers between owners, supervisory and executive bodies, but as an integrating mechanism of economic security that ensures the identification of threats, determination of the acceptable level of risk, quality control of management information, protection of the interests of stakeholders, and maintenance of the long-term viability of the enterprise. The purpose of the study is to develop a conceptual and methodological mechanism for integrating European standards of sustainable corporate governance into the system of economic security of Ukrainian enterprises, taking into account the updating of the regulatory architecture of the European Union, war and post-war risks, and limited resource capacity of enterprises. The methodological basis is regulatory and comparative analysis, a systems approach, structural and functional modeling, cause-and-effect analysis, and logical generalization. It is proposed to distinguish three modes of adaptation of Ukrainian enterprises: direct regulatory compliance, adaptation to the requirements of value chains, and voluntary standardization. The developed mechanism includes regulatory and strategic, organizational and managerial, risk-oriented, information and analytical, functional and control, and results blocks. The central element of the mechanism is corporate governance, through which the requirements for corporate sustainability are integrated into financial, operational, energy, information, environmental, social, and reputational security. It is substantiated that digital technologies should be used as tools to increase information reliability and support preventive risk management, and energy sustainability should be considered a functional component of economic security. The scientific novelty lies in the development of a proportional mechanism that combines corporate governance, European sustainability standards, and a multidimensional system of the enterprise’s economic security.

Keywords: corporate governance, economic security of the enterprise, corporate sustainability, ESG, CSRD, CSDDD, ESRS, risk management, compliance, corporate reporting, energy security, digitalization.

References.

  1. Zamlynskyi, V. A., Nakonechna, O. A., Stupnytska, T. M., & Horodnichenko, S. A. (2025). Instytutsionalizatsiia blokchein-tekhnolohii u bukhhalterskomu obliku ta audyti [Institutionalization of blockchain technologies in accounting and auditing]. Economics of Food Industry, 17(4), 20–30. https://doi.org/10.15673/fie.v17i4.3339
  2. Cabinet of Ministers of Ukraine. (2024, October 18). Pro skhvalennia Stratehii zaprovadzhennia pidpryiemstvamy zvitnosti iz staloho rozvytku [On approval of the Strategy for the introduction of sustainability reporting by enterprises] (Order No. 1015-r). Verkhovna Rada of Ukraine. https://zakon.rada.gov.ua/go/1015-2024-%D1%80
  3. Kopytko, M., & Shevchenko, N. (2026). Korporatyvna kultura i komplaens-kontrol yak elementy korporatyvnoho upravlinnia ta ekonomichnoi bezpeky ukrainskykh aktsionernykh tovarystv v umovakh yevrointehratsii [Corporate culture and compliance control as elements of corporate governance and economic security of Ukrainian joint-stock companies in conditions of European integration]. Scientific Notes of “KROK” University, 1(81), 200–208. https://doi.org/10.31732/2663-2209-2026-81-200-208
  4. Nakonechna, O. A., & Horodnichenko, S. A. (2025). Tekhnolohiia rozpodilenoho reestru DLT dlia potreb kontroliu i oblikovo-analitychnoho zabezpechennia u tsyfroviy ekonomitsi [Distributed ledger technology DLT for the needs of control and accounting-analytical support in the digital economy]. Ukrainian Journal of Applied Economics and Technology, 10(4), 215–221. https://doi.org/10.36887/2415-8453-2025-4-42
  5. Chikalkin, S. (2026). Ekonomichna bezpeka yak kliuchovyi element systemy korporatyvnoho upravlinnia v umovakh hlobalizatsii ta tsyfrovoi transformatsii ekonomiky [Economic security as a key element of the corporate governance system in conditions of globalization and digital transformation of the economy]. Modeling the Development of the Economic Systems, (2), 169–177. https://doi.org/10.31891/mdes/2026-20-20
  6. Committee of Sponsoring Organizations of the Treadway Commission. (2017). Enterprise risk management—Integrating with strategy and performance. COSO. https://www.coso.org/enterprise-risk-management
  7. European Commission. (2023, July 31). Commission Delegated Regulation (EU) 2023/2772 supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards. Official Journal of the European Union. https://eur-lex.europa.eu/eli/reg_del/2023/2772/oj
  8. European Commission. (2026, July 3). Commission adopts revised sustainability reporting standards to reduce administrative burdens for EU businesses while maintaining high-quality disclosures. European Union. https://finance.ec.europa.eu/news/commission-adopts-revised-sustainability-reporting-standards-reduce-administrative-burdens-eu-2026-07-03_en
  9. European Parliament, & Council of the European Union. (2022, December 14). Directive (EU) 2022/2464 amending Regulation (EU) No 537/2014, Directives 2004/109/EC, 2006/43/EC and 2013/34/EU, as regards corporate sustainability reporting. Official Journal of the European Union, L 322, 15–80. https://eur-lex.europa.eu/eli/dir/2022/2464/oj/eng
  10. European Parliament, & Council of the European Union. (2024, June 13). Directive (EU) 2024/1760 on corporate sustainability due diligence and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859. Official Journal of the European Union. https://eur-lex.europa.eu/eli/dir/2024/1760/oj/eng
  11. European Parliament, & Council of the European Union. (2026, February 24). Directive (EU) 2026/470 amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464 and (EU) 2024/1760 as regards certain corporate sustainability reporting requirements and certain corporate sustainability due diligence requirements. Official Journal of the European Union. https://eur-lex.europa.eu/eli/dir/2026/470/oj/eng
  12. International Organization for Standardization. (2018a). ISO 31000:2018 risk management—Guidelines. ISO. https://www.iso.org/standard/65694.html
  13. International Organization for Standardization. (2018b). ISO 50001:2018 energy management systems—Requirements with guidance for use. ISO. https://www.iso.org/standard/69426.html
  14. Ivanenko, V., & Muraviov, K. (2026). Compliance as a driver of sustainable economic development and business growth in the context of European integration. Journal of Vasyl Stefanyk Precarpathian National University, 13(2), 148–162. https://doi.org/10.15330/jpnu.13.2.148-162
  15. Kryukova, I., Zamlynskyi, V., Pavlova, H., Volchanska, L., & Nahorniak, H. (2023). Corporate architecture of sustainable development reporting as a tool market capitalization of agrarian business of Ukrainian companies. Review of Economics and Finance, 21, 393–404. https://doi.org/10.55365/1923.x2023.21.40
  16. Kryukova, I., Zamlynskyi, V., & Vlasenko, T. (2023). Architecture of corporate reporting on the sustainable development of business entities in the agrarian sector as a tool of sustainable agri-management. Ekonomika APK, 30(2), 38–48. https://doi.org/10.32317/2221-1055.202302038
  17. Mähönen, J. T. (2020). Integrated reporting and sustainable corporate governance from European perspective. Accounting, Economics, and Law: A Convivium, 10(2), Article 20180048. https://doi.org/10.1515/ael-2018-0048
  18. (2023). G20/OECD principles of corporate governance 2023. OECD Publishing. https://doi.org/10.1787/ed750b30-en
  19. Popescu, C. R. G. (2019). Corporate social responsibility, corporate governance and business performance: Limits and challenges imposed by the implementation of Directive 2013/34/EU in Romania. Sustainability, 11(19), Article 5146. https://doi.org/10.3390/su11195146
  20. Siri, M., & Zhu, S. (2024). Integrating sustainability in EU corporate governance codes. In Busch, G. Ferrarini, & S. Grünewald (Eds.), Sustainable finance in Europe (pp. 211–262). Palgrave Macmillan. https://doi.org/10.1007/978-3-031-53696-0_7
  21. Tsagas, G. (2020). A proposal for reform of EU Member States’ corporate governance codes in support of sustainability. Sustainability, 12(10), Article 4328. https://doi.org/10.3390/su12104328
  22. Zahorodnia, A. S., & Fedorenko, T. V. (2024). Economic security of the enterprise: Modern challenges and threats. Intellectualization of Logistics and Supply Chain Management, 26, 75–79. https://doi.org/10.46783/smart-scm/2024-26-6
  23. Zamlynskyi, V., & Gorodnichenko, S. (2025). Digital transformation of energy allocation: From data transparency to socio-economic justice. Innovation and Sustainability, 5(4), 97–107. https://doi.org/10.31649/vis/4.2025.97

Quote article, APA style

Zamlynskyi V. , Gorodnichenko S. , Shevchenko V. Mechanism for integration of European standards of sustainable corporate governance into the economic security system of enterprises in Ukraine. Actual problems of innovative economy and law. 2026. №3. 79-86 pp. https://doi.org/10.36887/2524-0455-2026-3-13

Quote article, MLA style

Zamlynskyi V. , Gorodnichenko S. , Shevchenko V. Mechanism for integration of European standards of sustainable corporate governance into the economic security system of enterprises in Ukraine. Actual problems of innovative economy and law. https://doi.org/10.36887/2524-0455-2026-3-13