The Russian corporate governance has evolved since the 1998 financial crisis. The author examines both normalization and preservation in the corporate structure, which can simultaneously be observed in the adaptation of Russian enterprises. The Russian corporate governance reflects the unique...

Dividend policy is one of the most intriguing topics in financial research. Even now, economists provide considerable attention and thought to solving the dividend puzzle, resulting a large number of conflicting hypotheses, theories and explanations. This paper aims to determine the dividend...

The object of this contribution is to address the question of the ownership of the firm. Both law and economics shape representations of the world: law focuses on rules and justice; economics focuses on efficiency and allocation. They describe common situations and "objects'' such as firms and...

In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...

The recent popularity of write-offs allows for examination of the role governance plays in the write-off decision. I find that well governed companies are more likely to announce write-offs. Additionally, better governed firms announce smaller write-offs relative to poorly governed firms. The...

This paper aims to examine the effect of many ownership features on firm's disclosure quality using the theoretical framework of the agency theory, which states that investors information demand increases with agency costs of the firm. Public ownership increases agency costs and therefore should...

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Agency theory suggests that high pay-performance sensitivity (PPS) of CEO's compensation is an important motivation mechanism to the CEO to improve corporate performance. We develop a simple model that suggests that reverse causality should also be considered. Specifically, our model predicts...

Corporate governance has been implemented by several companies to strengthen accountability, reinforce trust and confidence in companies where ownership and management are separated. Concerns have however been raised regarding the cost of corporate governance compliance for smaller listed...

This article studies the link between corporate governance conflicts on the one hand, and employment and wage policies of companies on the other. We use data on publicly traded Russian companies with dual class stock (common and preferred shares), which allows us to use the concept of voting...