The Determinants of Board Composition in a Transforming Economy: Evidence from Russia

This file is part of IDEAS, which uses RePEc data

The Determinants of Board Composition in a Transforming Economy: Evidence from Russia

Author Info

Iwasaki, Ichiro

Abstract

Using a unique dataset of 730 joint-stock companies, we studied the determinants of corporate board composition in Russia. Despite the widespread image of insider control in the 1990s, a large number of Russian companies now actively appoint outsider directors to monitor top management. The findings reported in this paper strongly suggest that the theories and empirical methods of financial and organizational economics help to pinpoint the factors affecting the extent of outsider directorship. We also found that, among potential determinants, bargaining variables have considerable explanatory power. Furthermore, our empirical evidence demonstrated that Russia’s legal system and its peculiarities as a transition economy also exert a certain degree of influence on board composition.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by Russian Research Center, Institute of Economic Research, Hitotsubashi University in its series RRC Working Paper Series with number 9.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 28, [12] p.
Date of creation: Sep 2008
Date of revision:
Handle: RePEc:hit:rrcwps:9

Note: This paper is a product of a Japan-Russia joint research project entitled "Corporate Governance and Integration Processes in the Russian Economy" launched by the Institute of Economic Research, Hitotsubashi University (Tokyo), and the Institute for Industrial and Market Studies, State University - Higher School of Economics (Moscow). The research was financially supported by grants-in-aid for scientific research from the Ministry of Education and Science of Japan (No. 16530149; No. 17203019) and the Foundation of Japan Legislation Society.
Contact details of provider:
Postal: 2-1 Naka, Kunitachi City, Tokyo 186-8603
Phone: +81-42-580-8382
Fax: +81-42-580-8333
Email:
Web page: http://www.ier.hit-u.ac.jp/rrc/
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Koji OHTAGAKI).

Find related papers by JEL classification:
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
K22 - Law and Economics - - Regulation and Business Law - - - Corporation and Securities Law
L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

Statistics
Access and download statistics

Did you know? Citation analysis on IDEAS includes online papers that are freely accessible and whose text could be automatically analyzed, currently about 210000 papers.

This page was last updated on 2009-12-2.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.