Exploring Corporate Governance Around the World

By Allison Garrett, Senior Vice President for Academic Affairs at Oklahoma Christian University

Thursday, May 18, 2006

Corporate Governance in Russia

The MoscowTimes.com had an article yesterday about corporate governance practices in Russia. There's a good summary of the article at the CIPE Development Blog.

The Moscow Times article discusses a study by the Russian Institute of Directors that found that many Russian companies are not yet serious about governance issues and even those preparing to do an IPO do not engage in the window dressing typical of companies about to go public. At most, companies preparing to go public appoint a couple of outside directors whose names might be recognized abroad.

The study also found that poor disclosure practices remain an issue for Russian companies. Some companies engage in the sort of practices that led the SEC to adopt Reg FD a few years ago.

1 comment:

harrismoure said...

Russia is a very difficult country in which to conduct business. At least someone high up in the government is starting to acknowledge this.