LEADER 06039oam 2200649 c 450 001 9910965280703321 005 20260102090118.0 010 $a9783838272870 010 $a3838272870 024 3 $a9783838272870 035 $a(CKB)4100000007510449 035 $a(MiAaPQ)EBC5782854 035 $a(PPN)253127866 035 $a(Perlego)862225 035 $a(ibidem)9783838272870 035 $a(EXLCZ)994100000007510449 100 $a20260102d2019 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Development and Challenges of Russian Corporate Governance I $eThe Roles and Functions of Boards of Directors /$fOksana Kim, Andreas Umland, Sheila M. Puffer 205 $a1st ed. 210 $aHannover$cibidem$d2019 215 $a1 online resource (182 pages) 225 0 $aSoviet and Post-Soviet Politics and Society$v198 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- List of Tables -- List of Figures -- Foreword -- Chapter 1 Introduction -- Chapter 2 Corporate governance laws and regulations in Russia: overview and dynamics -- 2.1. National stock exchanges -- 2.2. Laws and regulations outlining the major corporate governance provisions -- 2.3. Accounting standards and reporting requirements. Adoption of IFRS -- 2.4. Implications of the corporate governance reforms for the Russian stock market -- 2.5. Conclusions -- Chapter 3 Board of directors' structure and composition: one- versus two-tier boards -- 3.1. Unitary versus two-tier board structure: overview of the major differences and global practices -- 3.2. Russian public companies' choice to adopt a unitary versus a two-tier board model -- 3.2.1. Data collection process -- 3.2.2. Empirical examination of the impact of the board of directors' structure on a firm's performance and value -- 3.3. Conclusions -- Chapter 4 Cross-listing practices of Russian companies -- 4.1. Reasons to cross-list. Overview of cross-listing theories and empirical findings -- 4.2. Cross-listing practices of Russian companies -- 4.3. Determinants of cross-listing -- 4.4. The impact of cross-listing on a firm's performance and value -- 4.5. Conclusions -- Chapter 5 Nationality diversity on the board of directors of Russian firms -- 5.1. Pros and cons of hiring diverse boards. Literature overview -- 5.2. Foreign accounting/consulting firms and foreign directors: Russian firms' practices -- 5.3. Implications of hiring foreign nationals on the board of directors -- 5.3.1. Summary statistics. Comparison of covariates -- 5.3.2. Foreign directors' impact on the monitoring and advisory functions of the board -- 5.4. Conclusions -- Chapter 6 Gender diversity on the board of directors of Russian public companies. 327 $a6.1. Benefits and costs of maintaining gender-diverse boards. Global evidence and literature overview -- 6.2. Female representation on Russian corporate boards -- 6.2.1. Summary statistics. Comparison of covariates -- 6.2.2. The impact of female directors on a firm's performance and value. Mechanisms through which female directors contribute towards the board's activities -- 6.3. Conclusions -- Chapter 7 CEO performance-induced turnover -- 7.1. CEO turnover and a firm's performance. Empirical evidence -- 7.2. CEO performance-turnover sensitivity among Russian public companies -- 7.3. Conclusions -- Chapter 8 Unresolved issues and concluding remarks -- Concluding remarks -- Bibliography. 330 $aDespite increasing attention towards Russia?s economy and capital market, corporate governance norms of Russian public firms are rarely analyzed. This project presents and interprets evidence regarding various governance practices followed by Russian firms covering almost the entire period of the existence of the Russian stock market. Its findings run counter to some widely held beliefs according to which Russia is a country with high resistance to corporate innovations due to socialist imprints. Part one of this two-volume study focuses on the role that boards of directors play in reducing intra-corporate agency conflicts. Russian companies have adopted progressive governance mechanisms including director independence, nationality and gender diversity on the board, dismissal of poorly performing CEOs, and cross-listing of companies on foreign markets with stringent reporting obligations. Some of these innovations have had notably positive impact on firms? performances and market valuation. Others, such as nationality diversity on boards of directors, enhanced the image of Russian companies but made little contribution towards improving internal governance. Unresolved issues impeding further progress include limited liability of directors towards shareholders due to imperfections of the Russian legal system, a taboo on disclosures of executives? compensations, and generally high risks of conducting business in Russia. Despite impressive improvements in internal practices, Russian firms still have a long way to go to achieve the governance levels of their peers in developed countries. 410 0$aSoviet and post-Soviet politics and society ;$vVolume 198. 606 $aWirtschaft 606 $aManagement 606 $aUnternehmensführung 606 $aRussland 606 $aRussia 606 $aCorporate Governance 606 $aBoard of Directors 615 4$aWirtschaft 615 4$aManagement 615 4$aUnternehmensführung 615 4$aRussland 615 4$aRussia 615 4$aCorporate Governance 615 4$aBoard of Directors 676 $a658.422 700 $aKim$b Oksana$4aut$01634955 702 $aUmland$b Andreas$4edt 702 $aPuffer$b Sheila M$4aui 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910965280703321 996 $aThe Development and Challenges of Russian Corporate Governance I$94413556 997 $aUNINA