Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/161059 
Year of Publication: 
2016
Series/Report no.: 
IZA Discussion Papers No. 10436
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
This paper provides new evidence on the structure, dynamics and performance effects of corporate boards in publicly traded companies in Russia. It takes advantage of a new and unique longitudinal dataset of virtually all Russian companies whose shares were traded in the RTS/MICEX/MOEX over 1998-2014. The analysis highlights a number of strong trends in the evolution of boards of directors, such as the declining participation of insider directors and the increasing participation of foreign and female directors. It also shows that board characteristics are linked to company performance (the market-to-book ratio, Tobin's Q, ROE and ROA), suggesting that boards of directors play a non-trivial role in corporate governance in Russia. Testing for structural breaks in the relationship between board composition and firm performance provides some evidence of the changing role of corporate boards over time.
Subjects: 
board of directors
publicly traded companies
corporate performance
Russia
JEL: 
G34
L22
Document Type: 
Working Paper

Files in This Item:
File
Size
1.82 MB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.