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《East European,russian & Central Asian Studies》 2002-02
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Corporate Governance in Russia

Russian corporations were a result of artificial transformation of grassroots units of the Soviet national economy. This determined the particularity of these corporations as distinctively different from those engendered naturally in the market economies. In terms of corporate governance structure, the particularity finds expression in the fact that they share some features of both the British-American type and the German-Japan type in their corporate governance model. They feature a premature comprehensive governance structure peculiar to a transitional state. The special features of such a governance structure are: ill balance in the combination of corporate surplus search and controlling power, excessive internal control, dislocation between equities and capital, integration of mandates and commission, ill balance between management and business operation. The result is inefficient operation of the enterprises. The fundamental question of corporate governance structure in Russia is the deficiency of the main body, an infantile market and the lack of practical protection of property rights. It will take time for corporate governance structure in Russia to become mature and rational.
【CateGory Index】: F279.512
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