Organisational culture and corporate governance in Russia: a study of managerial turnover
In this article we investigate the possible impact of ownership structure and corporate performance on managerial turnover using a unique dataset of Russian corporations. We argue that Russia is regarded as a country with a highly authoritarian and collectivism-oriented national culture and this peculiarity is the key to disentangling the puzzle of the statistically weaker relationship between firm performance and CEO renewal in Russian firms. We deal not only with CEO dismissal but also managerial turnover within a company as a whole. By conducting multinomial analysis that incorporates both factors, we found a significant relationship between firm performance and CEO dismissal, while, consistent with most previous studies, a standard logit analysis of CEO turnover revealed no clear relationships. We also found that the presence of a dominant shareholder significantly increased the likelihood of turnover of the whole management team, while foreign ownership tended to cause partial (CEO only) turnover.
If you experience problems downloading a file, check if you have the proper application to view it first. 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 22 (2010)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CPCE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CPCE20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- T. Dolgopiatova, 2009. "Corporate Governance in Russian Companies," Problems of Economic Transition, M.E. Sharpe, Inc., vol. 52(6), pages 76-92, October.