The nature of joint-stock ownership as the highest form of associated ownership

in the article specifies the special place of joint-stock ownership in the modern variety of its forms. First of all, it was preceded by its formation, designed to resolve the contradiction between the growing scale of production and the limited potential of individual private property, which originated in the history of capitalism. The author has deepened the substantiation of the internal relationship between joint-stock ownership and financial crises, presupposed by the bifurcation of the natural-material and value existence of equity, being in the guise of objects of the real sector and in the guise of securities. This bifurcation has also given rise to the financialization process, riddled with financial crises. The key aspects of the impact of joint-stock ownership on the change in the social structure of the company are systematized, including a significant expansion due to the growing number of shareholders of the class of private owners performing the functions of an investor; an increasingly wide opportunity to combine the status of an employee and an owner-shareholder in one person, presupposed by an increase in his standard of living; the emergence of a special social stratum within hired labor – hired management, which enters into contradictory relations with the owners' association.

equity, joint-stock ownership, associated forms of ownership, individual ownership, capitalism, hired management