Corporate Governance Country Assessment : Russian Federation
This report assesses Russia's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate...
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| Format: | Economic & Sector Work |
| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2013/06/23960727/russian-federation-report-observance-standards-codes-rosc http://hdl.handle.net/10986/21422 |
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okr-10986-21422 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ARBITRATION ASSET PRICES ASSET VALUE AUDIT COMMITTEE AUDIT STANDARDS BALANCE OF PAYMENTS BALANCE SHEET BID BIDS BONDS BROKERS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL OUTFLOWS CENTRAL BANK CENTRAL DEPOSITORY CIVIL CODE COLLECTIVE INVESTMENTS COMMON SHARE COMMON SHARES COMPANY LAW CONFIDENTIALITY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE INFORMATION CORPORATE OWNERSHIP CORPORATE OWNERSHIP STRUCTURE CORPORATE SOCIAL RESPONSIBILITY COST OF CAPITAL DEPOSITORIES DEPOSITORY DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DIVIDEND DIVIDENDS DOMESTIC EXCHANGES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EXCHANGE RULES FEDERAL AGENCY FEDERAL BUDGET FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STATEMENTS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FRAUD GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL DEPOSITORY GLOBAL DEVELOPMENT FINANCE GLOBAL EXCHANGES GLOBAL FINANCIAL CENTERS GLOBAL MARKET GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE PRACTICE GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS DOMESTIC PRODUCT HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS ILLIQUID SECURITIES INCOME INDIVIDUAL INVESTORS INFLATION INITIAL PUBLIC OFFERING INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTERNAL CONTROL INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTOR INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR PROTECTIONS INVESTOR RELATIONS IPO JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANIES JUDICIAL COURT JUDICIAL SYSTEM JURISDICTION JURISDICTIONS JUSTICE SYSTEM LAW ENFORCEMENT LEGAL FRAMEWORK LEGAL PROTECTION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LLC LONG-TERM CAPITAL MAJORITY SHAREHOLDER MAJORITY SHAREHOLDERS MARKET CAPITALIZATION MARKET DATA MARKET ECONOMY MARKET INDEX MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRACTITIONERS MARKET PRICE MARKET SIZE MARKET VOLATILITY MARKETS DATABASE MATURITY MINORITY INVESTORS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTIONS MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY FUND MONOPOLIES NATURAL RESOURCES OIL PRICES OPEN JOINT STOCK COMPANIES OWNERSHIP RIGHTS OWNERSHIP STRUCTURE PENSION PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PREEMPTIVE RIGHTS PRIVATE INVESTORS PRIVATE PENSION PRIVATIZATION PROPERTY RIGHTS PROPORTIONAL REPRESENTATION PUBLIC COMPANIES PUBLIC COMPANY PUBLIC ENFORCEMENT PUBLIC MARKETS PUBLIC POLICY REGULATORS REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY REQUIREMENT RETIREMENT SAVINGS SECURITIES SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SECURITIES REGULATOR SETTLEMENT SETTLEMENT ARRANGEMENTS SHARE PRICE SHARE PRICES SHARE TRADING SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDER RIGHTS SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STRONG CORPORATE GOVERNANCE TAX TRADING ACTIVITY TRADING PLATFORM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TREASURY UNDERWRITERS VOLATILITY VOUCHER PRIVATIZATION WEAK CORPORATE GOVERNANCE WITHDRAWAL WORLD DEVELOPMENT INDICATORS |
| spellingShingle |
ACCOUNTING ARBITRATION ASSET PRICES ASSET VALUE AUDIT COMMITTEE AUDIT STANDARDS BALANCE OF PAYMENTS BALANCE SHEET BID BIDS BONDS BROKERS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL OUTFLOWS CENTRAL BANK CENTRAL DEPOSITORY CIVIL CODE COLLECTIVE INVESTMENTS COMMON SHARE COMMON SHARES COMPANY LAW CONFIDENTIALITY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE INFORMATION CORPORATE OWNERSHIP CORPORATE OWNERSHIP STRUCTURE CORPORATE SOCIAL RESPONSIBILITY COST OF CAPITAL DEPOSITORIES DEPOSITORY DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DIVIDEND DIVIDENDS DOMESTIC EXCHANGES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EXCHANGE RULES FEDERAL AGENCY FEDERAL BUDGET FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STATEMENTS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FRAUD GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL DEPOSITORY GLOBAL DEVELOPMENT FINANCE GLOBAL EXCHANGES GLOBAL FINANCIAL CENTERS GLOBAL MARKET GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE PRACTICE GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS DOMESTIC PRODUCT HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS ILLIQUID SECURITIES INCOME INDIVIDUAL INVESTORS INFLATION INITIAL PUBLIC OFFERING INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTERNAL CONTROL INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTOR INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR PROTECTIONS INVESTOR RELATIONS IPO JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANIES JUDICIAL COURT JUDICIAL SYSTEM JURISDICTION JURISDICTIONS JUSTICE SYSTEM LAW ENFORCEMENT LEGAL FRAMEWORK LEGAL PROTECTION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LLC LONG-TERM CAPITAL MAJORITY SHAREHOLDER MAJORITY SHAREHOLDERS MARKET CAPITALIZATION MARKET DATA MARKET ECONOMY MARKET INDEX MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRACTITIONERS MARKET PRICE MARKET SIZE MARKET VOLATILITY MARKETS DATABASE MATURITY MINORITY INVESTORS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTIONS MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY FUND MONOPOLIES NATURAL RESOURCES OIL PRICES OPEN JOINT STOCK COMPANIES OWNERSHIP RIGHTS OWNERSHIP STRUCTURE PENSION PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PREEMPTIVE RIGHTS PRIVATE INVESTORS PRIVATE PENSION PRIVATIZATION PROPERTY RIGHTS PROPORTIONAL REPRESENTATION PUBLIC COMPANIES PUBLIC COMPANY PUBLIC ENFORCEMENT PUBLIC MARKETS PUBLIC POLICY REGULATORS REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY REQUIREMENT RETIREMENT SAVINGS SECURITIES SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SECURITIES REGULATOR SETTLEMENT SETTLEMENT ARRANGEMENTS SHARE PRICE SHARE PRICES SHARE TRADING SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDER RIGHTS SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STRONG CORPORATE GOVERNANCE TAX TRADING ACTIVITY TRADING PLATFORM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TREASURY UNDERWRITERS VOLATILITY VOUCHER PRIVATIZATION WEAK CORPORATE GOVERNANCE WITHDRAWAL WORLD DEVELOPMENT INDICATORS World Bank Corporate Governance Country Assessment : Russian Federation |
| geographic_facet |
Europe and Central Asia Russian Federation |
| description |
This report assesses Russia's
corporate governance policy framework. It highlights recent
improvements in corporate governance regulation, makes
policy recommendations, and provides investors with a
benchmark against which to measure corporate governance in
Russia. Corporate governance has been a major policy issue
in Russia since the beginning of its transition to a market
economy. The privatization process of the early 1990s was
put in place before most elements of the corporate
governance and investor protection framework, and there were
many widely publicized abuses, leading to very low asset
prices. Most observers agree that the corporate governance
environment has improved in recent years as the government
has enhanced the legal and policy framework, and key
institutions have grown in sophistication and maturity. Many
major Russian companies have also voluntarily improved their
financial and ownership transparency. A number of reform
initiatives are currently underway. The report (and this
summary) is organized into four sections: i) the commitment
of the public and private sectors to reform; ii) shareholder
rights; iii) disclosure and transparency; and iv) Boards of
Directors. Policy recommendations are developed in detail at
the end of each section. The report also includes a special
annex that details the reform agenda focusing on related
party transaction approval and disclosure, based on the
approach of the Protecting Investors indicator developed in
the World Bank's Doing Business report. |
| format |
Economic & Sector Work |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Corporate Governance Country Assessment : Russian Federation |
| title_short |
Corporate Governance Country Assessment : Russian Federation |
| title_full |
Corporate Governance Country Assessment : Russian Federation |
| title_fullStr |
Corporate Governance Country Assessment : Russian Federation |
| title_full_unstemmed |
Corporate Governance Country Assessment : Russian Federation |
| title_sort |
corporate governance country assessment : russian federation |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2013/06/23960727/russian-federation-report-observance-standards-codes-rosc http://hdl.handle.net/10986/21422 |
| _version_ |
1764448216409964544 |
| spelling |
okr-10986-214222021-04-23T14:04:02Z Corporate Governance Country Assessment : Russian Federation World Bank ACCOUNTING ARBITRATION ASSET PRICES ASSET VALUE AUDIT COMMITTEE AUDIT STANDARDS BALANCE OF PAYMENTS BALANCE SHEET BID BIDS BONDS BROKERS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL OUTFLOWS CENTRAL BANK CENTRAL DEPOSITORY CIVIL CODE COLLECTIVE INVESTMENTS COMMON SHARE COMMON SHARES COMPANY LAW CONFIDENTIALITY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE INFORMATION CORPORATE OWNERSHIP CORPORATE OWNERSHIP STRUCTURE CORPORATE SOCIAL RESPONSIBILITY COST OF CAPITAL DEPOSITORIES DEPOSITORY DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DIVIDEND DIVIDENDS DOMESTIC EXCHANGES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EXCHANGE RULES FEDERAL AGENCY FEDERAL BUDGET FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STATEMENTS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FRAUD GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL DEPOSITORY GLOBAL DEVELOPMENT FINANCE GLOBAL EXCHANGES GLOBAL FINANCIAL CENTERS GLOBAL MARKET GOOD GOVERNANCE GOVERNANCE ISSUES GOVERNANCE PRACTICE GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS DOMESTIC PRODUCT HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS ILLIQUID SECURITIES INCOME INDIVIDUAL INVESTORS INFLATION INITIAL PUBLIC OFFERING INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTERNAL CONTROL INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTOR INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR PROTECTIONS INVESTOR RELATIONS IPO JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANIES JUDICIAL COURT JUDICIAL SYSTEM JURISDICTION JURISDICTIONS JUSTICE SYSTEM LAW ENFORCEMENT LEGAL FRAMEWORK LEGAL PROTECTION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LLC LONG-TERM CAPITAL MAJORITY SHAREHOLDER MAJORITY SHAREHOLDERS MARKET CAPITALIZATION MARKET DATA MARKET ECONOMY MARKET INDEX MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRACTITIONERS MARKET PRICE MARKET SIZE MARKET VOLATILITY MARKETS DATABASE MATURITY MINORITY INVESTORS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTIONS MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY FUND MONOPOLIES NATURAL RESOURCES OIL PRICES OPEN JOINT STOCK COMPANIES OWNERSHIP RIGHTS OWNERSHIP STRUCTURE PENSION PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PREEMPTIVE RIGHTS PRIVATE INVESTORS PRIVATE PENSION PRIVATIZATION PROPERTY RIGHTS PROPORTIONAL REPRESENTATION PUBLIC COMPANIES PUBLIC COMPANY PUBLIC ENFORCEMENT PUBLIC MARKETS PUBLIC POLICY REGULATORS REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY REQUIREMENT RETIREMENT SAVINGS SECURITIES SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SECURITIES REGULATOR SETTLEMENT SETTLEMENT ARRANGEMENTS SHARE PRICE SHARE PRICES SHARE TRADING SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDER RIGHTS SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STRONG CORPORATE GOVERNANCE TAX TRADING ACTIVITY TRADING PLATFORM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TREASURY UNDERWRITERS VOLATILITY VOUCHER PRIVATIZATION WEAK CORPORATE GOVERNANCE WITHDRAWAL WORLD DEVELOPMENT INDICATORS This report assesses Russia's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Russia. Corporate governance has been a major policy issue in Russia since the beginning of its transition to a market economy. The privatization process of the early 1990s was put in place before most elements of the corporate governance and investor protection framework, and there were many widely publicized abuses, leading to very low asset prices. Most observers agree that the corporate governance environment has improved in recent years as the government has enhanced the legal and policy framework, and key institutions have grown in sophistication and maturity. Many major Russian companies have also voluntarily improved their financial and ownership transparency. A number of reform initiatives are currently underway. The report (and this summary) is organized into four sections: i) the commitment of the public and private sectors to reform; ii) shareholder rights; iii) disclosure and transparency; and iv) Boards of Directors. Policy recommendations are developed in detail at the end of each section. The report also includes a special annex that details the reform agenda focusing on related party transaction approval and disclosure, based on the approach of the Protecting Investors indicator developed in the World Bank's Doing Business report. 2015-02-09T21:14:44Z 2015-02-09T21:14:44Z 2013-06 http://documents.worldbank.org/curated/en/2013/06/23960727/russian-federation-report-observance-standards-codes-rosc http://hdl.handle.net/10986/21422 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work Economic & Sector Work :: Corporate Governance Assessment (ROSC) Europe and Central Asia Russian Federation |