The article analyzes the role of corporate control in the organization and work of stock companies. In the authors’ opinion, corporate control in a stock company should be understood as a system of relations between the corporate bodies and the executives of the office of issue, securities holders (such as stakeholders, bond holders), and other interested parties involved in managing the issuer as a legal entity. The authors analyze the principles of corporate control, particularly, management centralization; decentralization; coordination of activities of a stock company as a corporate organization; legality; stakeholders participation in the work of the executive bodies of a stock company; conscientiousness and rationality.  The authors use a set of scientific research methods: the formal logical, comparative-legal, historical, the methods of deduction, induction and classification.  The authors formulate the main function of corporate control as the provision of efficiency of a stock company to the benefit of stakeholders who have provided the company with financial resources. The research substantiates the role of corporate control: it helps coordinate multidirectional interests of stakeholders, stock companies’ management, and controlling governmental entities; it allows settling conflicts between majority and minority stakeholders; it helps maintain continuous and progressive development of a stock company; it helps organize the work of managing bodies for it to be aimed at the development of the company, and not only at serving the stakeholders’ interests.