Corporate Governance Legal Issues

Svetlana Chekhovskaya ()
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Svetlana Chekhovskaya: National Research University Higher School of Economics

HSE Working papers from National Research University Higher School of Economics

Abstract: This paper aims to add to the literature on the connection between corporate governance and corporate law development. “Corporate governance” came into vogue in the 1970s in the United States. Corporate governance had become the subject of debate worldwide by scholars, regulators, investors etc. This paper considers the nature and extent of corporate law contribution to the development of corporate governance and vice versa. In the last years, Russia and most continental countries (Germany, France, Italy) have enacted significant corporate law reforms. In Europe these reforms aim to strengthen the mechanisms of internal governance, empower shareholders, enhance disclosure requirements, and toughen public enforcement, which are the most effective tools for countering abuses by dominant shareholders. It is very much discussed among legal professionals in Russia that now we have the urgent need for the comprehensive review and modernization of corporate law and governance. However, the last two years Russian Civil Code and Federal Law “On Joint Stock Companies” were changed deeply. Under the new Civil Code, all legal entities (both commercial and non-commercial) are divided into corporate and unitary entities

Keywords: Russian corporate law; soft corporate law; corporate governance (search for similar items in EconPapers)
JEL-codes: K29 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2015
New Economics Papers: this item is included in nep-acc, nep-cis, nep-his and nep-law
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Published in WP BRP Series: Law / LAW, December 2015, pages 1-8

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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:58/law/2015

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