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Institutional background as a determinant of boards of directors' internal and external roles: The case of Russia

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  • Melkumov, Dmitri

Abstract

This conceptual paper analyses why some companies in Russia give strong weight to the external roles and some to the internal roles of the boards of directors. The institutional background of Russian corporate governance is reviewed, concentrating on the contextual variables of time of founding, ownership type and governmental dependency, which are seen to explain the varying weight given to internal and external board roles. After arriving at several propositions, the paper finishes with suggestions for an empirical evaluation of the proposed relationships and addresses several managerial implications that stem from the discussion. This paper addresses the under-researched field of contingencies in board roles, focusing on Russia and emphasizing the importance of the prevailing institutional framework in transition economies.

Suggested Citation

  • Melkumov, Dmitri, 2009. "Institutional background as a determinant of boards of directors' internal and external roles: The case of Russia," Journal of World Business, Elsevier, vol. 44(1), pages 94-103, January.
    • Handle: RePEc:eee:worbus:v:44:y:2009:i:1:p:94-103
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    Cited by:

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    3. Anastasia N. Stepanova & Olga O. Kopyrina, 2019. "The Influence Of Ownership Structure And Board Independence On The Cost Of Debt In Bric Countries," HSE Working papers WP BRP 74/FE/2019, National Research University Higher School of Economics.
    4. Ryan Federo & Yuliya Ponomareva & Ruth V. Aguilera & Angel Saz‐Carranza & Carlos Losada, 2020. "Bringing owners back on board: A review of the role of ownership type in board governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(6), pages 348-371, November.
    5. Zattoni, Alessandro & Witt, Michael A. & Judge, William Q. & Talaulicar, Till & Chen, Jean Jinghan & Lewellyn, Krista & Hu, Helen Wei & Gabrielsson, Jonas & Rivas, Jose Luis & Puffer, Sheila & Shukla,, 2017. "Does board independence influence financial performance in IPO firms? The moderating role of the national business system," Journal of World Business, Elsevier, vol. 52(5), pages 628-639.
    6. Grosman, Anna & Leiponen, Aija, 2018. "Organizational transparency and power in firm ownership networks," Journal of Comparative Economics, Elsevier, vol. 46(4), pages 1158-1177.
    7. Ksenija Dencic-Mihajlov, 2009. "Reforms of Corporate Governance and Takeover Regulation: Evidence from Serbia," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 7(2), pages 205-227.
    8. Kopyrina, Olga & Stepanova, Anastasia, 2023. "The influence of ownership structure and board independence on the cost of debt in BRIC countries," Economic Systems, Elsevier, vol. 47(2).
    9. Hearn, Bruce & Strange, Roger & Piesse, Jenifer, 2017. "Social elites on the board and executive pay in developing countries: Evidence from Africa," Journal of World Business, Elsevier, vol. 52(2), pages 230-243.
    10. Alexander Libman & Tatiana G. Dolgopyatova & Andrey A. Yakovlev, 2014. "The Birth Of An Entrepreneurial Board In Emerging Markets: A Russian Case," HSE Working papers WP BRP 29/MAN/2014, National Research University Higher School of Economics.
    11. Lee, Ji-Hwan & Roberts, Michael J.D., 2015. "International returnees as outside directors: A catalyst for strategic adaptation under institutional pressure," International Business Review, Elsevier, vol. 24(4), pages 594-604.

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