LEGAL FRAGMENTATION OF THE EXTERNAL ENVIRONMENT: INSTITUTIONAL GAPS AND ZONES OF REGULATORY UNCERTAINTY AS NEW CORPORATE RISKS

Abstract

Purpose of the study. The study aims to resolve the contradiction between the growing fragmentation of the global legal space and the underdeveloped nature of risk management models addressing institutional gaps. The relevance is driven by the transition from legal unification to regulatory fragmentation, manifested in conflicts between national legislations, sanctions ruptures, and jurisdictional voids. The methodological framework comprises: comparative legal analysis, which identifies zones of conflict; a systemic approach to classifying institutional gaps; and scenario modelling of the transformation of legal conflicts into corporate risks. The findings indicate that classical compliance risk management models are insufficiently effective under conditions of conflicting regulatory requirements. Four types of institutional gaps are identified and systematised: jurisdictional conflicts, legal voids, sanctions ruptures, and regulatory collisions. For each type, the mechanism by which legal uncertainty translates into financial, reputational, and operational risks is demonstrated. A risk based approach to managing legal fragmentation is proposed, grounded in scenario based legal auditing and the principle of conservative jurisdiction. Legal fragmentation ceases to be merely an external backdrop and becomes an independent factor requiring integration into strategic management. The scientific novelty lies in the systematisation of institutional gaps as a distinct category of external environmental risks. The practical significance consists in providing diagnostic tools for identifying zones of legal fragmentation and developing adaptive strategies.