Экономика и управление: проблемы и перспективы развития. Сборник научных статей по итогам международной научно-практической конференции г.Волгоград 15-16 ноября 2010 г.
The Working Paper examines the peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank owners, investors, top managers and other insiders. The Anglo-American concept of corporate governance, based on agency theory and implying outside investors’ control over banks through stock market, is found to bear limited relevance. We suggest some ways of overcoming the gap between formal institutions of governance and the real life.
This paper based on extensive survey analyzes relationships between Russian companies and the state in 2006–2010. As well as company characteristics, regional differences are also taken into account. Special focus is made on changes in relations due to world crisis and differences in relations with the state between industrial companies and enterprises from service sector. Regression analysis shows that in 2009–2010 relationship was built on “model of exchange” principle and the system was quite inert: even changes in GRP and investments’ level induced by crisis do not influence the probability of receiving government support. However, it was established that when allocating support the authorities take unemployment changes into consideration, which means that social factors matter.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.