Areas for the improvement in corporate governance in the Russian electric power industry
The research identifies the priority of the improvement in Boards of Directors in the Russian power companies to enhance their corporate governance in the interests of investors. This is caused by numerous inconsistencies between the responsibility in the framework of the Boards of Directors in the current corporate practice and the principles and recommendations of the Code of Corporate Governance of Russia's Bank; the national features of the external corporate control; and an increase in the external interest in the problems of Boards of Directors in the Russian companies. The inconsistencies are determined between the current governance practice and the format of the Code developed by Moscow Stock Exchange for disclosure of information about its observance in the annual reports of companies. This format includes additional criteria from the Code which are met by the JSC 'E.ON Russia'. The proposals on the necessary changes concern nomination, election, activity of the Board of Directors and assessment of their effectiveness. A special emphasis is made on the competence of members of Boards of Directors, morally-ethical and behavioral qualities, involvement in the company's activities, closeness of their financial interests to the long-term interests of investors. © 2017 IEEE.
Библиографическая ссылка Sheveleva G.I. Areas for the improvement in corporate governance in the Russian electric power industry // Proceedings of 2017 10th International Conference Management of Large-Scale System Development, MLSD 2017. ID: 8109686. ISBN (print): 9781538607985. DOI: 10.1109/MLSD.2017.8109686
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