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Corporate Governance Legal Issues

Author

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  • Svetlana Chekhovskaya

    (National Research University Higher School of Economics)

Abstract

This paper aims to add to the literature on the connection between corporate governance and corporate law development. “Corporate governance” came into vogue in the 1970s in the United States. Corporate governance had become the subject of debate worldwide by scholars, regulators, investors etc. This paper considers the nature and extent of corporate law contribution to the development of corporate governance and vice versa. In the last years, Russia and most continental countries (Germany, France, Italy) have enacted significant corporate law reforms. In Europe these reforms aim to strengthen the mechanisms of internal governance, empower shareholders, enhance disclosure requirements, and toughen public enforcement, which are the most effective tools for countering abuses by dominant shareholders. It is very much discussed among legal professionals in Russia that now we have the urgent need for the comprehensive review and modernization of corporate law and governance. However, the last two years Russian Civil Code and Federal Law “On Joint Stock Companies” were changed deeply. Under the new Civil Code, all legal entities (both commercial and non-commercial) are divided into corporate and unitary entities

Suggested Citation

  • Svetlana Chekhovskaya, 2015. "Corporate Governance Legal Issues," HSE Working papers WP BRP 58/LAW/2015, National Research University Higher School of Economics.
    • Handle: RePEc:hig:wpaper:58/law/2015
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    File URL: http://www.hse.ru/data/2015/12/22/1132961426/58LAW2015.pdf
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    More about this item

    Keywords

    Russian corporate law; soft corporate law; corporate governance;
    All these keywords.

    JEL classification:

    • K29 - Law and Economics - - Regulation and Business Law - - - Other

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