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Corporate Governance in Russian Big Business: Trends of 2000s
Baltic RIM Economies Review. 2017. No. 2. P. 37.
Trends of corporate governance development in Russian large firms typical for the 2000s are considered. Incentives for improved CG in Russian companies were pushed by regulators and the federal government as owners of big companies. Business was facilitated by their participation in the elaboration of new legal rules, early pre-announced changes, and possibilities for their “soft” implementation against the background of companies’ growing motivation to use CG tools for strategic development.
Selivanovskiy A., Andriushova E., Хозяйство и право 2016 № 6 С. 19-37
The article deals with the effectiveness of disclosure requirements on the activities of the board of directors of the company, in terms of overcoming asymmetry information, conflict of interests, as well as the protection of investorsʼ rights and interests of the company. ...
Added: December 26, 2016
Rasskazov S. V., Rasskazova A. N., СПб. : Отдел оперативной полиграфии НИУ ВШЭ – Санкт-Петербург, 2013
When writing this tutorial, the contributions received by the authors with the assistance of the NTF - National Training Fund subproject "Creating a center of excellence for economics teachers ' Innovation Project Development of education and work , received diplomas Russian competitions intellectual projects " Ideas for Russia " ( 2004) and "Power" (2008 , ...
Added: March 10, 2013
I. V. Dergunova, T. G. Dolgopyatova, Russian Management Journal 2021 Vol. 19 No. 1 P. 5-34
The goal of this study is to empirically assess the influence of the board of directors’ work experience diversity on the performance of Russian non-public companies. The board work experience diversity is measured by the diversity index proposed by the authors, as well as by the number of work experience types and categories. Russian boards ...
Added: June 23, 2021
Makushina E., Евсиков Н. А., Вестник Московского университета. Серия 6: Экономика 2021 Т. 2 № 2021 (2) С. 140-158
The article examines changes in corporate governance bodies in connection with financial results dynamics of German, Austrian and Swiss companies. The main objective of the study was to trace causal links between financial indicators and boards’ gender composition. The paper used reports of European companies to determine boards’ compositions and financial results.
Using a sample of ...
Added: November 25, 2020
Stepanova A. N., Финансы и кредит 2009 № 44 С. 38-45
Статья посвящена изучению зависимости результатов деятельности компаний от различных механизмов корпоративного управления, а также прочих структурных характеристик компании. Автором предложен интегрированный взгляд на проблематику путем внедрения комплексной концепции финансовой архитектуры в модель стратегической эффективности компании. В статье представлены результаты эмпирического исследования 212 европейских и российских компаний. ...
Added: November 24, 2009
Anilov A., Journal of Corporate Finance Research 2019 Vol. 13 No. 2 P. 25-35
This paper aims to discover evidence on the possible impact of CEO overconfidence on payout policy, and the role of corporate boards in offsetting the possible negative effects of this overconfidence. Our investigation demonstrates the effect of overconfidence on the choice of payout method, specifically regarding the repurchases-dividends mix. We also evaluate the ability of ...
Added: October 27, 2019
Влияние советов директоров на эффективность бизнеса: результаты зарубежных и российских исследований
Dulyak Y., Менеджмент и бизнес-администрирование 2011 № 4 С. 104-123
Results of empirical researches of interrelation parameters of activity of boards of directors and of efficiency of the companies are in detail characterized. Features of institute of board of directors in domestic business are considered. ...
Added: December 26, 2012
Jakobson L. I., Ivanova N., Telitsyna A., Мониторинг общественного мнения: Экономические и социальные перемены 2021 Т. 6 С. 459-476
The paper presents the data of the first empirical study on the role of Russian nonprofit corporate governance (boards). Board operations are analyzed through the lens of key theories of corporate governance in the third sector. Conducted interviews revealed that resources of effectiveness which the theories posit prerequisites are critically underused. It results from the prevalence ...
Added: January 8, 2022
Tatiana Dolgopyatova, Libman A., Yakovlev A., / Высшая школа экономики. Series MAN "Management". 2016. No. 49.
This paper investigates the role of boards of directors of conglomerate subsidiaries in emerging markets. The paper based on a case study of AFK Sistema—a large diversified Russian business group including subsidiaries in 15 sectors. We show that creating corporate governance institutions at the subsidiary level can have unexpected advantages for the group as a ...
Added: January 25, 2016
Ivashkovskaya I., Финансы и кредит 2009 № 48(384) С. 21-28
В статье отмечается, что в связи с глобальным финансовым кризисом проблема влияния механизмов корпоративного управления на эффективность компании приобретает особое значение. Предлагается новая модель исследования взаимосвязи качества корпоративного управления и стратегической эффективности компании на основе экономической прибыли. Анализируются результаты апробации модели на панельных данных 26 крупных российских компаний за 2002-2007 гг. ...
Added: December 3, 2009
Zavertiaeva M. A., Shenkman E., Kazarina E., Emerging Markets Finance and Trade 2024
This paper analyzes the service of independent directors on Board committees as a driver of corporate performance on emerging Russian market. We take a deeper look at the channels through which independent directors may influence Audit, Remuneration, Nomination, and Strategy committees’ performance. The question is tested using a sample of Russian listed public firms which ...
Added: July 4, 2023
Popov K., Makeeva E. Y., Journal of Corporate Finance Research 2022 Vol. 16 No. 4 P. 119-134
In recent years researchers have been paying significant attention to Environmental, Social, Governance (ESG) principles as a crucial factor in company performance. This paper aims to summarize the trends and findings in academic literature devoted to the board of directors as a determinant of ESG performance and non-financial disclosure quality. This paper also summarizes the ...
Added: March 6, 2023
Zavertiaeva M. A., Popova P., Российский журнал менеджмента 2021 Т. 19 № 3
Despite the importance of personal ties in the Russian economy, established by researchers, there is
still no empirical evidence of the effect that interlocked boards of directors have on company
performance. The paper uses the Social Network Analysis technique to provide in-depth study of a
companyэs position in a network formed by formal connections among board members. The
calculated ...
Added: June 12, 2022
Khassanov A., Корпоративные финансы 2021
In this paper, I study the possibility of modifying the Ohlson model, an alternative way of explaining the dynamics of stock prices of public companies, by adding corporate governance factors that might affect their market value to the model. The purpose of this work is to identify key indicators of corporate governance that affect the ...
Added: August 10, 2020
Makeeva E. Y., Popov K., Дихтярь А. А. et al., Российский журнал менеджмента 2022 Т. 20 № 4 С. 498-523
Goal: the goal of this paper is to determine effects of board of directors characteristics on corporate value creation, taking into account ESG (Environmental, Social, Governance) principles.
Methodology: the methodological tool applied in this study is an econometric analysis of panel data for 48 Russian non-financial public companies with ESG score provided by Thomson Reuters Eikon in the ...
Added: March 6, 2023
Libman A., Dolgopyatova T. G., Yakovlev A. A., / Высшая школа экономики. Series MAN "Management". 2014. No. 29.
This paper investigates the role of boards in founder-managed firms with concentrated ownership in emerging markets. The existing literature suggests that this type of company, even if they decide to recruit high-profile individuals as directors, rarely empowers the boards in the corporate governance structure. The paper conducts a case study of AFK Sistema—a large Russian ...
Added: December 26, 2014
Sprenger C., Journal of Comparative Economics 2021
This paper investigates how corporate governance of unlisted firms in an emerging market economy affects financing constraints, measured by the sensitivity of investment to cash flow. In order to evaluate the quality of corporate governance, we develop two corporate governance indices based on a large-scale survey of Russian enterprises – one for shareholder protection and ...
Added: September 2, 2021
Попова Е. О., Nazarova V., Вестник Санкт-Петербургского университета. Серия 8. Менеджмент 2020 Т. 19 № 1 С. 97-125
The paper aims to explore the characteristics of the dividend policy of Russian companies with state participation and identify its determining factors. Dividend decisions made by the company are largely dependent on the activities of the board of directors, the central corporate govern- ance body, and the liaison between shareholders and managers. The topic is relevant ...
Added: October 31, 2020
Solntsev S., / Высшая школа экономики. Series MAN "Management". 2013. No. 10.
This paper presents an analysis of changes in senior management labor market in Russia during the 2000s. The original data consists of information on the appointments of 5771 senior managers in Russia from late 1999 until 2009. The study focuses on mobility between economic sectors, and managerial positions, human capital, including education and experience and ...
Added: June 27, 2013
Yakovlev A. A., Danilov Y. A., Simachev Y. V., Российский журнал менеджмента 2010 Т. 8 № 2 С. 21-34
В статье проанализированы проблемы и новые вызовы для корпоративного управления, выявившиеся в контексте глобального экономического кризиса 2008-2009 гг. Показаны причины постепенного накопления неэффективности крупных корпораций, действующих на глобальных рынках. Обосновывается сходство между современными глобальными компаниями с их распыленной структурой собственности и советскими «общенародными» предприятиями - в силу отсутствия в обоих случаях ответственного собственника с долгосрочными ...
Added: October 14, 2012
Anilov A., Ivashkovskaya I., Journal of Management and Governance 2020 No. 24 P. 989-1017
In this article, we evaluate CEO behavior in terms of his or her preferences to risk, and how the actions of boards of directors interplay with these behaviors. Specifically, we set out to test whether the actions of boards of directors can overcome the negative impacts of CEO behavior on various aspects of payout policy. ...
Added: October 27, 2019
Пентюк А. Р., Solntsev S., Проблемы теории и практики управления 2016 № 1 С. 117-125
The article examines an efficiency of corporate governance in the leading Russia’s companies. The impact of companies’ poor financial results on CEO replacement is estimated using original empirical data. . To evaluate the effectiveness of corporate governance in the article was conducted an empirical evaluation of the factors changing the company's CEO, according to changes ...
Added: October 15, 2015
Avdasheva S. B., / Высшая школа экономики. Series WP BRP 55/LNG/2017. 2007. No. 18.
Holding company groups constitute an important segment of Russian business. The rise of holding company groups in Russia, on the one hand, mirrors the history of business groups over the course of industrial restructuring and modernization in developing countries, especially those in transition. On the other hand, the agency problem in complex organizations such as ...
Added: March 14, 2013
Karminsky A. M., Rybalka A., Шевченко Е. А., Российский журнал менеджмента 2018 Т. 16 № 1 С. 95-108
The successful activities of any commercial organization, in particular the bank, are based on a
clear corporate financial architecture: an effective financial strategy and corporate governance
system (relationship management, board of directors and shareholders). CEO is the main representative
of the bank and a reflection of its success or failure in the market. In this regard
there is a ...
Added: April 3, 2018