Unintended Benefits of Empowering Boards in Conglomerates: A Case Study of AFK Sistema
Tatiana Dolgopyatova (),
Alexander Libman and
Journal of East European Management Studies, 2018, vol. 23, issue 2, 177-202
The paper investigates the role of corporate governance institutions at the subsidiary level in conglomerates in emerging markets. The literature typically highlights that these institutions are necessary to reassure minority shareholders and thus to attract investors. We show that corporate governance institutions, particularly supervisory boards, can be applied for a different purpose - to organize communication within a group and thus to improve the quality of strategy formulation. Thus, a conglomerate can empower its subsidiary boards even if there is no immediate IPO goal for them. The paper uses a case study of a large Russian business group, AFK Sistema, to explore this mechanism, its advantages and its limitations.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: The Unintended Benefits of Empowering Boards in Conglomerates: The Case Study of Afk Sistema (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nms:joeems:10.5771/0949-6181-2018-2-177
Ordering information: This journal article can be ordered from
Nomos Verlagsgesellschaft mbH & Co. KG, Waldseestraße 3-5, 76530 Baden-Baden, Germany
https://www.nomos-sh ... w.aspx?product=29288
Access Statistics for this article
Journal of East European Management Studies is currently edited by Thomas Steger, editor-in chief
More articles in Journal of East European Management Studies from Nomos Verlagsgesellschaft mbH & Co. KG
Bibliographic data for series maintained by Nomos Verlagsgesellschaft mbH & Co. KG ().