THE IMPACT OF CORPORATE GOVERNANCE ON THE QUALITY OF STRATEGIC PLANNING IN STATE-OWNED TRANSPORT JOINT-STOCK COMPANIES

How supervisory board involvement in the strategy process shaped the quality of strategic planning in stateowned transport joint-stock companies was examined on theoretical and regulatory grounds. Agency theory, resource dependence theory and the view of the board as a decision-making group were set against strategic planning theory. Uzbek documents adopted in 2015-2023 on corporate governance and railway transport reform were subjected to content analysis. The analysis showed steadily tighter requirements for strategy development, board composition and reporting under international standards in state-owned enterprises. Five criteria of planning quality were substantiated (goal alignment, measurability, resource linkage, risk consideration and monitoring), and a four-level assessment rubric and a strategic planning quality index were proposed for them. A stage-gate cycle model linking analysis, approval and implementation to board oversight was developed. The results were shown to support better board-level assessment of transport company strategies.

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