Progress of the Corporate Governance Practice in Russian State-Owned Companies

Abstract

This study responds to a great academic and practical interest in the practice of corporate governance in Russian state-owned companies. This paper seeks to identify or disclose the relationship between the corporate governance system and the efficiency of state-owned companies and this is why this study offers a certain practical value for Russian companies with state participation. The number of studies in corporate governance has been increasing recently. The impact of corporate governance on a company’s performance is what drives the interest in issues of management and assessment of sustainable development in Russian companies, and this interest has been steadily growing. In an environment of globalization of the economic space, describing the relationship between the quality of state-owned companies’ corporate governance and their financial performance is of paramount importance. This topic is relevant for businesses seeking new approaches to ensuring their competitiveness. Moreover, corporate governance is a way to achieve this goal and to protect the interests of various stakeholder groups.