Primary introduction for the Measurement of Corporate Governance

The notes about history of phenomenon in Russia.

Much people, from the professionals to the average men, are surprised of the terrible revelry of unfriendly M&A in Russia. And they began to forget, that the Federal Law of Russian Federation #208 about the public companies (stock-holder companies) began to act only ten years ago. This period cannot be compared, for example, in the course of time from the creation of the commercial and civil codes in Europe, in which principles was preserved from the Napoleon era.

Yes, there was the attempts of external experts to estimate the state of corporative governance in several countries of the former USSR already. And we had beginning in 2006th the unique program with effective first results which we name pilot drive. where we found both a few estimations of corporate governance in Russia and own system of their objective obtaining.
There was consecutively and sufficiently deeply interrogated the set of specialists, who professionally work on enterprises in the branches of law support and company's document-flow administration.
We had used a large list of questions for the opinion polls, specially prepared by us. They were directed toward understanding of the current processes in the public companies and of their reasons. The deep and unique for Russia multilevel data was obtained in this stage already.

We began the analysis of these given for the objective research of economic, organizational and legal aspects of proceeding processes on the market for acquisition and development of business, financial resources and services, and then the study of the special features of forming and development of the conflict relations in field of small and medium corporate business. Certainly, questions of the international program of the common estimation of corporate governance by ROSC Program of the World Bank Group and OECD Principles of Corporate Governance were taken as the basis of this poll (Links to the Reports of WBI.)

When we formed questions of the own questionnaire of interrogation, aimed in-main to help our basic works through opinions of some limited set of the practical figures of this business in Russia, we did not aspire to ensure exact conformity with the questionnaire of ROSC of WBI (It was drafted by Alexander Berg of the Corporate Governance Department of the World Bank as part of Programs of Reports on the Observance of Standards and Codes). A deep evaluation, similar to the WBI reports for a few countries, requires another level of organization, special procedures of the selection of respondents and other means of support. The number of questions of form WBI have been reduced by us (selection, the translation and the adaptation of these questions to the Russian terminology and the practice of business relations was executed by the author.
At the same time, some other important questions was formulated which should allow us to estimate the reasons, the state and tendencies in the current not yet stable and not formed business of company's conversions, and to understand with which layer of respondents and relations of this unstable sphere we collided as a result interrogation.

Our version of the basic characteristics of evaluation of corporative governance suitable for Russia and and used in interrogation of 2006th year is opened for wide discussion of the Russian and international professionals here. Reverse link to the debatable page with the enumeration of questions (English and Russian variants of formulations), which would be corrected collectively, located to the right.

Let's argue and specify!