title: Disclosure and corporate governance: Evidence from Russian companies
metadata.name: dc.contributor.author
metadata.value: Berezinets, I. V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Muravyev, A. A.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2024-09-27T11:43:13Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2024-09-27T11:43:13Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2024-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Berezinets I. V., Muravyev A. A. 2024. Disclosure and corporate governance: Evidence from Russian companies. Russian Management Journal 22 (2): 193–222. https://doi.org/10.21638/spbu18.2024.203
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu18.2024.203
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/47587
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: Purpose: this article aims to provide new evidence on the role of several potential drivers
  of corporate disclosure that have been insufficiently studied or remain controversial in the
  literature on accounting and corporate governance such as one-tier vs. two-tier corporate
  boards, having grey directors on the board, direct vs. indirect government ownership and the
  ownership stake of second-largest shareholders. Methodology: the study uses rich and
  unique data on transparency and disclosure by Russian firms collected by the S&P agency
  from 2002 till 2010 and obtained by the authors under a confidentiality agreement. The
  analysis is based on conventional techniques of regression analysis for panel data. Findings:
  there is strong evidence of complementarity between corporate governance and disclosure.
  In particular, disclosure is enhanced by boards with a higher proportion of truly independent
  directors (compared to grey directors, whose role is less clear-cut), is higher in companies
  with a two-tier board and those with a greater stake of the second largest shareholder. It is
  also found that direct government ownership is associated with reduced disclosure. In contrast,
  no such effect is observed for indirect ownership by the state. Originality and contribution:
  the analysis uses detailed data from a country with a relatively poor corporate governance
  environment in general and low standards of mandatory disclosure, which helps observe
  relationships that would be hard to detect in better institutional settings. It is also one of the
  first studies that scrutinizes disclosure practices of publicly traded companies in Russia. The
  obtained findings emphasize the risks of reduced mandatory disclosure requirements, which
  Russian government allowed in response to the Western sanctions, on the background of a
  significant exodus of qualified independent/foreign directors from the corporate boards. Given
  the complementarity between disclosure and corporate governance, this may amplify the
  risks of poor corporate governance and performance of Russian firms.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Russian Management Journal;Volume 22; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: disclosure
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: board of directors
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: ownership structure
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: corporate governance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: Russia
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Disclosure and corporate governance: Evidence from Russian companies
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 03.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/47587/1/03.pdf
resources.format: Adobe PDF
resources.size: 1,68 MB