Model of corporate governance in Russia: problems and vectors of development

• Main Authors: O. N. Kolomyts, Ju. A. Shostak, D. A. Ryazanovа
• Format: Article
• Language: Russian
• Published: Southern Institute of Management 2019-04-01
• Series: Научный вестник Южного института менеджмента
• Subjects: corporate governance; business; top management; economic growth; decision-making
• Online Access: https://www.uimjournal.com/jour/article/view/370

The article investigates the existing corporate governance model in Russia; reveals the existence of differences between the formally established procedures and practical decision-making processes; determines that the existing model of corporate governance in Russiais at the stage of formation; identifies a number of problems of the Russian corporate governance model; proposes ways to solve them. Transparency and openness of the existing model of corporate governance in Russiacan be achieved by leveling bureaucratic obstacles, strengthening the control function, that is, qualitative changes and transformations in the economic system of the country. Raising the level of corporate governance possible through the integration of the efforts of the Executive and legislative branches of government, the private sector, representatives of the judicial, legal and tax structures, enterprises and organizations interested in the effective development of the Russian model of corporate governance. The proposed solutions to the identified problems will serve as a driver for the effective development of the Russian corporate governance model.