TITLE

Modern Russian corporate governance: convergent forces or product of Russia�s history?

AUTHOR(S)
Buck, Trevor
PUB. DATE
November 2003
SOURCE
Journal of World Business;Nov2003, Vol. 38 Issue 4, p299
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Does Russian corporate governance in the new millennium amount to a gradual evolution towards US-style corporate governance, or can it be expected to continue to reflect historical institutions and national culture? When multinationals complain about State interference in firms� strategies and operations, can this be a permanent state of affairs, or is the situation likely to change?After 1991, Russia, in the middle of a huge crisis, embarked on a program of mass privatization, ostensibly with a view to creating full, market-based corporate governance, with open information disclosure, and enterprise ownership by outside investors having no relationship with the firm other then through their shares. In practice, however, it has become clear that a very different pattern has emerged, especially in manufacturing industries with relational investors, including managers and employees, as well as banks and other firms linked horizontally or vertically, little share liquidity. There is continued hostility towards active western and other genuinely �outside� investors, and persistently strong State influence. This paper argues that this outcome can only be understood in the context of business history.
ACCESSION #
11253486

 

Related Articles

  • The emergence of corporate governance in Russia. Puffer, Sheila M.; McCarthy, Daniel J. // Journal of World Business;Nov2003, Vol. 38 Issue 4, p284 

    This article tracks the emergence of corporate governance through four stages of the Russia�s transition to a market economy from the mid-1980s to the present: commercialization, privatization, nomenklatura, and statization. For each stage, the government�s economic objectives are...

  • Shareholder Relations.  // Corporate Board;Sep/Oct2004, Vol. 25 Issue 148, p29 

    Reports that nearly half of institutional investors feel governance reforms may have gone too far according to study findings. Trend among investors to strongly favor efforts to get more directly involved in the elections of boards.

  • KEEP IT SIMPLE.  // Finweek;3/22/2007, p78 

    The article discusses the significance of a good corporate governance in preventing fraudulent practices in South Africa. Investor governance was described by James Louw, head of implemented consulting Acsis, as the process of optimising investment decisions within a framework compliant with...

  • Is corporate governance going too far?  // Finance Week;5/17/2004, p46 

    Comments on the effect of company's strict compliance to corporate governance rules in South Africa. Loss of the essence of corporate governance; Consequence of company's fear of noncompliance; Effect on the available pool of nonexecutive; Need for institutional investors to share in the losses...

  • Ten years ago in The Corporate Board. Fleming, Rowland W. // Corporate Board;Nov/Dec2008, Vol. 29 Issue 173, p29 

    The article presents an issue regarding corporate governance that was published in "The Corporate Board" 10 years ago. It highlights a query as to how many investors in mutual funds actually know which firms those funds are invested in. In addition, it presents a question how a corporation talks...

  • Corporate governance criteria as applied in private equity investments. Millson, R.; Ward, M. // South African Journal of Business Management;Mar2005, Vol. 36 Issue 1, p73 

    Ineffective governance has often formed a backdrop to corporate failure with the resultant negative impact on .stakeholders. In the field of private equity, investors have consistently received financial returns that outperform those of listed equities. This research investigates the...

  • Corporate Governance Ratings: What Do They Mean? Tonsick, John L. // Corporate Board;May/Jun2003, Vol. 24 Issue 140, p7 

    This article focuses on corporate governance ratings. Public companies that disregard legitimate concerns about corporate governance may find themselves paying higher costs for the capital necessary to fund their business plans. Much of what people need to know about corporate governance is...

  • Proxy Contests: A Study in Shareholder Sovereignty. Emerson, Frank D.; Latcham, Franklin C. // California Law Review;Fall53, Vol. 41 Issue 3, p393 

    Examines the proxy regulations' prospects for promoting shareholder democracy and progressive corporate leadership in the U.S. Data from the survey of non-management proxy statements and material filed with the U.S. Securities and Exchange Commission during 1951 and 1952; Background of the...

  • Corporate Governance Compliance Practices of Indian Companies. Raithatha, Mehul; Bapat, Varadraj // Research Journal of Finance & Accounting; 

    Recent financial scandals associated to accounting and other frauds allegedly blamed to top company managers (e.g. Enron, Worldcom, Paramalt, Satyam) have brought into public light the recurring question of whether companies are managed on the best interests of shareholders and other company...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics