Economic Analysis: Theory and Practice
 

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‘Dome’ methodology for measuring the effectiveness of corporate governance: The case of a big Russian insurance company

Vol. 18, Iss. 9, SEPTEMBER 2019

Received: 28 May 2019

Received in revised form: 14 June 2019

Accepted: 28 June 2019

Available online: 30 September 2019

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: D23, G34, M14, O16

Pages: 1717–1736

https://doi.org/10.24891/ea.18.9.1717

Vorontsov P.G. OOO GUTA Holding Company, Moscow, Russian Federation
VorontsovP@gmail.com

ORCID id: not available

Subject The article considers methods for measuring the effectiveness of corporate governance, their advantages and disadvantages, and offers a unique methodology based on the analysis of subsystems. The methodology contains actual data contained in annual reports, official ratings of agencies, and on official websites of organizations, thereby eliminating the subjectivity in assessment.
Objectives The purpose is to develop original methods for rapid diagnostics of key components of corporate governance efficiency, based on annual management reports of organizations.
Methods The study rests on monographic analysis of the existing methodological tools for assessing the economic efficiency of corporate governance.
Results I designed a ‘dome’ methodology to evaluate the investment appeal of commercial organizations. It enables to assess the current level of corporate governance efficiency and determine areas for development.
Conclusions Emulating the experience of foreign countries in Russia is unacceptable. It is crucial to develop a methodology that combines qualitative and quantitative indicators, taking into account the economic characteristics and high instability of external environment, in which the organization operates.

Keywords: corporate structure, corporate governance, regional economy

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