Corporate Governance in the Russian Federation: the relevance of the OECD Principles on shareholder rights and equitable treatment

Abstract

Despite progress in developing extensive legislation and regulations, there is still a long way to go before the standards of corporate governance in Russia will instil widespread confidence in investors. The emphasis is now on their implementation and enforcement by the state and private sector institutions. Transparent, equitable rules and predictable enforcement mechanisms are necessary to make the Russian economy attractive to both domestic and foreign investors, and enhance public confidence in the overall reform process. This paper uses the first two chapters of the OECD Principles of Corporate Governance on shareholder rights and their equitable treatment and looks through their prism at the Russian corporate governance condition.