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Regular version of the site

Article

Корпоративное управление и операционная эффективность российских компаний

Корпоративные финансы. 2011. № 4. С. 17-30.
Степанова А. Н., Кузьмин С. А.

In this paper we investigate the influence of corporate governance over operational efficiency of Russian companies. We measure efficiency with frontier efficiency methods (DEA and SFA). Corporate governance quality is introduced into the model using the original corporate governance index that is calculated based on methodology proposed in the paper. Using the sample of 54 largest Russian companies we test the model of frontier efficiency and demonstrate the high level of significance of corporate governance index.