Our student's research is published in Journal of Corporate Finance Research
The paper of our student Angelika Kolkina and associate professor Varvara Nazarove from department of finance "Corporate Governance and Effectiveness of a Diversified Company: Russian Experience" is published in issue 3(39) of Journal of Corporate Finance Research
The purpose of this paper is to discover to what extent corporate governance has an impact on the effectiveness of Russian diversified companies. Such companies are a subject of particular interest, as not only developed and emerging economies have different features of corporate governance, but within one country there are also companies whose development strategy and industry have a significant impact on the optimal corporate governance structure. The study suggests the following hypothesis: the corporate governance system has a positive impact on the effectiveness of Russian diversified companies.The study has been conducted on a sample of Russian diversified companies with an original corporate governance index created for this purpose, which had never been done previously.The study has a practical importance, because Russian diversified companies can use the corporate governance index devised during the study to assess their corporate governance level. Such procedure will make it possible to uncover the existing flaws and improve the corporate governance system in Russian companies. In their turn, the suggested methods and the resulting models of the correlation between market capitalisation, on the one hand, and fundamental factors and various factors of corporate governance, on the other, can be used in strategic planning and managing the value of diversified companies. In the paper, we also determine the impact of corporate governance on companies› performance, which enables us to suggest recommendations on enhancing the governance system in Russian companies.
Journal of Corporate Finance Research has entered a new "list of leading peer-reviewed scientific journals and publications, where major scientific results of dissertations for academic degrees of doctor and candidate of sciences are to be published", adopted by the Presidium of the Higher Attestation Commission of the Russian Ministry of February 19, 2010 6/6 1626.