Corporate Governance System and Regional Heterogeneity: Evidence from East and West Russia

Ichiro Iwasaki

No 72, RRC Working Paper Series from Russian Research Center, Institute of Economic Research, Hitotsubashi University

Abstract: Using a unique firm-level dataset obtained from a large-scale questionnaire survey conducted in late 2015, we examined the generality and heterogeneity of corporate governance systems between the eastern and western regions of Russia. The survey results strongly suggest that various characteristics of corporate governance systems observed in industrial firms and listed companies are, in fact, common and long-term trends that are seen across all Russian business sectors. At the same time, however, we also found pronounced regional heterogeneity between the eastern and western regions, with companies in the east being more reluctant than those in the west to introduce a governance system to monitor and supervise top management. Regression analysis shows that this finding is robust, even after a series of firm-level attributes are simultaneously controlled for.

Keywords: corporate governance system; legal form of incorporation; board of directors; audit system; regional heterogeneity; Russia (search for similar items in EconPapers)
JEL-codes: D22 G34 L22 M42 P25 P31 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2017-11
New Economics Papers: this item is included in nep-acc, nep-bec, nep-cfn, nep-cis, nep-eff, nep-sbm and nep-tra
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Downloads: (external link)
https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/28882/RRC_WP_No72.pdf

Related works:
Journal Article: Corporate Governance System and Regional Heterogeneity: Evidence from East and West Russia (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:rrcwps:72

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