Is Stakeholder Corporate Governance Appropriate in Russia?

Mike Wright, Igor Filatotchev, Trevor Buck and Kate Bishop

Journal of Management & Governance, 2003, vol. 7, issue 3, 263-290

Abstract: Alternative forms of disciplining the actionsof senior enterprise managers can becharacterized as shareholder or stakeholdergovernance. This paper analyzes thecontingencies that favour different forms ofgovernance and addresses the question: doesRussia need a stakeholder-oriented model ofcorporate governance? The appropriateness ofdifferent governance regimes under variouscontingent situations are analyzed both ingeneral and with respect to Russia. We suggestthat contingent factors argue for theco-existence of two different governancemechanisms in Russia based on sectoraldifferences. Survey evidence is used to examinepatterns of Russian bank, employee and Statestakeholding behaviour and shows that, apartfrom managers, these stakeholders at present donot have a significant involvement indecision-making in the majority ofmanufacturing firms. Given institutionalweaknesses in Russia, a case may be made forthe State to have a role to play incounterbalancing dominant insider shareholdersand enforcing good corporate governanceprinciples. Copyright Kluwer Academic Publishers 2003

Keywords: corporate governance; Russia; stakeholders (search for similar items in EconPapers)
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://hdl.handle.net/10.1023/A:1025022224413 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jmgtgv:v:7:y:2003:i:3:p:263-290

Ordering information: This journal article can be ordered from
http://www.springer. ... 29/journal/10997/PS2

DOI: 10.1023/A:1025022224413

Access Statistics for this article

Journal of Management & Governance is currently edited by Lino Cinquini

More articles in Journal of Management & Governance from Springer, Accademia Italiana di Economia Aziendale (AIDEA) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().