Factors Influencing Corporate Governance in Postsocialist Companies: An Analytical Framework

17 Pages Posted: 27 Jan 2008

See all articles by Andreas Heinrich

Andreas Heinrich

University of Bremen - Research Centre for East European Studies

Aleksandra Lis

University of Silesia

Heiko Pleines

University of Bremen - Research Centre for East European Studies

Date Written: October 2007

Abstract

In explaining the corporate governance performance of post-socialist companies, this article identifies four factors of influence: (1) pressure from majority shareholders, (2) pressure from outside minority shareholders, (3) pressure resulting from internationalization/globalization and (4) pressure exerted by the state in the form of legal regulation. If all four factors have an impact on corporate governance performance, their interaction has to be explained. On the basis of research conducted thus far, this article suggests an analytical framework for the examination of corporate governance performance of postsocialist companies. Case studies of oil and gas firms from Central and Eastern Europe illustrate how the above factors influence a company's corporate governance performance.

Keywords: corporate governance, Russia, Central Eastern Europe, oil and gas industry

JEL Classification: G34, L71, M14, P21, P28, P31

Suggested Citation

Heinrich, Andreas and Lis, Aleksandra and Pleines, Heiko, Factors Influencing Corporate Governance in Postsocialist Companies: An Analytical Framework (October 2007). William Davidson Institute Working Paper No. 896. Available at SSRN: https://ssrn.com/abstract=1087348 or http://dx.doi.org/10.2139/ssrn.1087348

Andreas Heinrich (Contact Author)

University of Bremen - Research Centre for East European Studies ( email )

Klagenfurter Straße 8
Bremen, 28359
Germany

HOME PAGE: http://www.forschungsstelle.uni-bremen.de/index.php

Aleksandra Lis

University of Silesia ( email )

ul. Okólna 89F
Częstochowa, 42-200
Poland

Heiko Pleines

University of Bremen - Research Centre for East European Studies ( email )

Klagenfurter Straße 3
Bremen, 28359
Germany

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