Factors Influencing Corporate Governance in post-Socialist Companies: an Analytical Framework

Andreas Heinrich (), Aleksandra Lis and Heiko Pleines

No wp896, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan Stephen M. Ross Business School

Abstract: In explaining the corporate governance performance of post-socialist companies, this article identifies four factors of influence: (1) pressure from majority shareholders, (2) pressure from outside minority shareholders, (3) pressure resulting from internationalization/ globalization and (4) pressure exerted by the state in the form of legal regulation. If all four factors have an impact on corporate governance performance, their interaction has to be explained. On the basis of research conducted thus far, this article suggests an analytical framework for the examination of corporate governance performance of postsocialist companies. Case studies of oil and gas firms from Central and Eastern Europe illustrate how the above factors influence a company’s corporate governance performance.

Keywords: corporate governance; Russia; Central Eastern Europe; oil and gas industry (search for similar items in EconPapers)
JEL-codes: G34 L71 M14 P21 P31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn, nep-cis and nep-tra
Date: 2007-10-01
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Persistent link: http://EconPapers.repec.org/RePEc:wdi:papers:2007-896

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