[angular] Get Value From Select Option in Angular 4

HTML code

    <form class="form-inline" (ngSubmit)="HelloCorp(modelName)">
        <div class="select">
            <select class="form-control col-lg-8" [(ngModel)]="modelName" required>
                <option *ngFor="let corporation of corporations" [ngValue]="corporation">
                    {{corporation.corp_name}}
                </option>    
            </select>
            <button type="submit" class="btn btn-primary manage">Submit</button>
        </div> 
    </form>

Component code

HelloCorp(corporation) {
    var corporationObj = corporation.value;
}