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Working paper

Determinants of the boards of directors evolution in Russian public and nonpublic companies

Dulyak Y.
This study examines the development of the board of directors institution in Russian companies. The purpose of the paper is to determine the stages of the evolution of the board role in Russia and to evaluate the further perspectives of this institution. Therewith we detect the stages according to the change of the board of directors role in Russian companies. We demonstrate the system of factors (institutional, legal, human, economic factors, and features of corporate sector) that influence the transformation of the board’s role. Studies of experts in the field of corporate governance and the updating of the corporate law form the informational base of the paper. Moreover we use the materials of interviews with the members of the boards conducted in spring-summer 2012.