Corporate Governance in Russia: Constraints and Prospects

Annotation
The problem of corporate governance has become notably pressing in Russia since the late ‘90s. It was general processes taking place elsewhere and particularly the growing interest in the corporate governance in the US and a number of other countries that emerged over the ‘80s (as a reaction to the wave of ‘hostile’ captures of control blocks along with the strengthening of institutional investors’ positions, the 1997-98 global financial crisis and challenges facing corporations in the developing economies that formed external motives for that. The adoption in 1999 of the OECD Principles of Corporate Governance allowed to generalize the respective nations’ practices in the area, while the document has become a potential model set of standards and guidelines, particularly for transitional economies, among others.

The present paper represents an attempt to generalize some preliminary results of series of research the author conducts under the auspices of IET and the Russian European Center for Economic Policy (RECEP). The paper does not pretend form a completeness of the verbal model described herein and should be grateful for comments and remarks to be forwarded at: arad@iet.ru