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Corporate Governance in Russia

Edited by Daniel J. McCarthy, Walsh Research Professor, Sheila M. Puffer, Professor of International Business, Northeastern University, Boston, US and Stanislav V. Shekshnia, Partner at Zest Leadership, Moscow, Russia and Adjunct Professor of Entrepreneurial Leadership, INSEAD, France
Given the past decade of abuse of shareholder rights, corporate governance is essential for Russia’s future. In this comprehensive volume, an international group of contributors – academics, corporate executives, government officials, policymakers, specialists from nongovernmental organizations, and legal experts – examine the crucial role of corporate governance as well as the external institutions and forces that affect it.
Extent: 448 pp
Hardback Price: $183.00 Web: $164.70
Publication Date: 2005
ISBN: 978 1 84376 205 8
Availability: In Stock
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  • Business and Management
  • Corporate Governance
  • International Business
  • Economics and Finance
  • Corporate Governance
Given the past decade of abuse of shareholder rights, corporate governance is essential for Russia’s future. In this comprehensive volume, an international group of contributors – academics, corporate executives, government officials, policymakers, specialists from nongovernmental organizations, and legal experts – examine the crucial role of corporate governance as well as the external institutions and forces that affect it.

Offering coverage from numerous perspectives, the contributors explore external and institutional influences on corporate governance, its workings within corporations, and the relationships between boards of directors, managers, shareholders, and the government. Case studies of three major companies illustrate the challenges and opportunities involved in creating sound practices. The concluding section provides a summary of the current situation and discusses implications for the future of Russia’s corporate governance.

A valuable source of information, Corporate Governance in Russia is a must-read for business people, government officials, academic researchers, students, and all those interested in Russia and what the future holds.
‘. . . the book can certainly be recommended as a detailed and often insightful account of the subject under review. . .’
– Vincent Barnett, Journal of Economic Issues

‘The editors have really done an admirable job venturing into this highly complex topic and bringing together a considerable number of interesting voices and contributions. The present volume can be considered a cornerstone in the field. It definitely will make its way as a fascinating “tour d’horizon” of a key topic in one of the world economy’s key countries.’
– Thomas Steger, Journal for East European Management Studies
Contributors: A.G. Aganbegyan, B.W. Bean, I.V. Belikov, T. Buck, R.N. Dean, N. Ermochkine, A.K. Fabela II, I. Filatotchev, S. Generalov, J. Gillies, I.V. Kostikov, R.C. May, D.J. McCarthy, A. Mikhaylenko, A. Pekarsky, R. Peterson, S.M. Puffer, V.I. Shein, S.V. Shekshnia, R. Vardanian, M. Wright, A. Zheltov, A.V. Zhuplev
Contents:
PART I: THE POLITICAL, ECONOMIC, AND CULTURAL CONTEXT OF CORPORATE GOVERNANCE
1. The Emergence of Corporate Governance in Russia
Sheila M. Puffer and Daniel J. McCarthy
2. Corporate Governance in Russia: A Framework for Analysis
Daniel J. McCarthy and Sheila M. Puffer
3. View From the Duma: An Interview with Sergey Generalov
Sergey Generalov and Stanislav V. Shekshnia
4. Troika Dialog’s Ruben Vardanian on Corporate Governance and Attracting Investment
Sheila M. Puffer, Stanislav V. Shekshnia and Daniel J. McCarthy
5. Changes and Challenges in Regulating Corporate Governance
Igor V. Kostikov and Igor V. Belikov
6. Corporate Governance in a Cultural Context
Anatoly V. Zhuplev and Vladimir Shein
PART II: IMPLEMENTING CORPORATE GOVERNANCE IN RUSSIAN CORPORATIONS
7. Corporate Governance and Business Education
Abel G. Aganbegyan
8. A Strategic Approach to Improving Corporate Governance
Ruth C. May
9. The Role of Nongovernmental Organizations in Developing Corporate Governance Practices
James Gillies, Rein Peterson and Alina Pekarsky
10. Private Enterprise Owners and Corporate Governance
Andrey Mikhaylenko
11. Roles, Responsibilities, and Independence of Boards of Directors
Stanislav V. Shekshnia
12. Challenges of Implementing Transparency and International Accounting Standards
Alexey Zheltov
13. The Impact of Information Technologies on Corporate Governance
Nikolai Ermochkine
14. Privatization: Buy-outs, Corporate Governance Abuses, and Challenges
Mike Wright, Trevor Buck and Igor Filatotchev
PART III: COMPANY CASES
15. VimpelCom: From Start-up to the New York Stock Exchange
Stanislav V. Shekshnia and Augie K. Fabela II
16. Ilim Pulp Battles a Hostile Takeover
Daniel J. McCarthy and Sheila M. Puffer
17. Yukos and Mikhail Khodorkovsky: An Unfolding Drama
Bruce W. Bean
PART IV: THE FUTURE OF CORPORATE GOVERNANCE IN RUSSIA
18. Russia’s Corporate Governance Scorecard in the Enron Era
Daniel J. McCarthy and Sheila M. Puffer
19. Corporate Governance: Is There a Village Behind the Facade?
Richard N. Dean
20. Corporate Governance in Russia: Towards a European, US, or Russian Model?
Daniel J. McCarthy and Sheila M. Puffer
Index