Home  Journals  Regional Economics: Theory and Practice  7(430) - 2016 July

A comparative analysis of Russian and foreign corporate governance models

Vol. 14, Iss. 7, JULY 2016

Article PDF Version

Received: 23 October 2015

Received in revised form: 20 January 2016

Accepted: 22 March 2016

Available online: 18 July 2016

Subject Heading: THEORY OF REGIONAL ECONOMY

JEL Classification: D23, G34, M14, O16

Pages: 105-117

Importance The article discusses the issues of genesis of the Russian corporate governance model under the influence of economic conditions.
Objectives The article aims to identify the specific characteristics of the Russian corporate governance model.
Methods For the study, I used a systems approach and monograph method.
Results I revealed the extent of influence of foreign models of corporate governance on the formation of the Russian model. I present recommendations for the further development of corporate governance practices in the Russian Federation.
Conclusions The Russian model is a symbiosis of the existing models of corporate governance, because it was originally focused on the Anglo-Saxon model, but under the influence of economic and institutional conditions, it got transformed into a model of corporate governance that is similar to the German model. As the main direction of development of the Russian model of corporate governance at the local level, I propose the PhICS model that is focused on key indicators of the company's development and that responds flexibly to changes in activities of the enterprise.

Keywords: corporate structure, performance analysis, regional economics

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