Factors Influencing Corporate Governance in post-Socialist Companies: an Analytical Framework
AbstractIn 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 InfoPaper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp896.
Date of creation: 01 Oct 2007
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corporate governance; Russia; Central Eastern Europe; oil and gas industry;
Find related papers by JEL classification:
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
- M14 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Corporate Culture; Social Responsibility
- P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-06-07 (All new papers)
- NEP-CFN-2008-06-07 (Corporate Finance)
- NEP-CIS-2008-06-07 (Confederation of Independent States)
- NEP-TRA-2008-06-07 (Transition Economics)
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