The Role of System-Forming Committees at Boards of Directors in State-Owned Companies (PJSC) in the Russian Federation
K K Pozdnyakov, A V Averin, Yu O Ivanova
K K Pozdnyakov
Available Online 17 March 2020.
- https://doi.org/10.2991/aebmr.k.200312.340How to use a DOI?
- To ensure the effective work of the board of directors in accordance with the best management practices in the field of corporate governance, it is required to organize and improve the work of committees. The subject of this paper is important and interesting also in that in the majority of mid-sized state companies committees under the board of directors have more of a decorative function to them and fail to provide the advantage that is expected. Due to this, what suffers first is corporate control and what potentially follows is corporate corruption. Insufficient concern for control (audit committee) and remuneration policy (HR committee) might result in these adverse consequences. The findings and conclusions presented in this paper came from the author’s work as a board director in Russian companies with state participation. Our suggestions on how to improve the incentive side of the work of top management and board of directors have been based on world’s best practices, on the corporate governance code en force, and can be of value to public authorities in revising and refining current regulatory documents.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - K K Pozdnyakov AU - A V Averin AU - Yu O Ivanova PY - 2020 DA - 2020/03/17 TI - The Role of System-Forming Committees at Boards of Directors in State-Owned Companies (PJSC) in the Russian Federation BT - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020) PB - Atlantis Press SP - 2449 EP - 2455 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200312.340 DO - https://doi.org/10.2991/aebmr.k.200312.340 ID - Pozdnyakov2020 ER -