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Boards of Directors in Russian State-Owned Companies

Irina Berezinets (), Yu. B. Ilina () and M. V. Smirnov ()

Economics of Contemporary Russia

Abstract: The article is devoted to the issue of board of directors that is one of the key corporate governance mechanisms. The authors discuss the basic functions of the board of directors and perspectives of their implementation in joint stock companies with different state ownership stake. The article presents the results of the study of board of directors’ characteristics on the sample of more than 700 Russian joint-stock companies with state ownership stake. The time period of analysis is 2009-2012, the period when there were the substantial changes in corporate governance in joint-stock companies with state participation.

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