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Factors Influencing Corporate Governance in post-Socialist Companies: an Analytical Framework

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  • Andreas Heinrich

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  • Aleksandra Lis
  • Heiko Pleines
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    Abstract

    In explaining the corporate governance performance of post-socialist companies, this article identifies four factors of influence: (1) pressure from majority shareholders, (2) pressure from outside minority shareholders, (3) pressure resulting from internationalization/ globalization and (4) pressure exerted by the state in the form of legal regulation. If all four factors have an impact on corporate governance performance, their interaction has to be explained. On the basis of research conducted thus far, this article suggests an analytical framework for the examination of corporate governance performance of postsocialist companies. Case studies of oil and gas firms from Central and Eastern Europe illustrate how the above factors influence a company’s corporate governance performance.

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    Bibliographic Info

    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp896.

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    Length: pages
    Date of creation: 01 Oct 2007
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    Handle: RePEc:wdi:papers:2007-896

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    Keywords: corporate governance; Russia; Central Eastern Europe; oil and gas industry;

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    Cited by:
    1. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 6-31.

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