The Role of System-Forming Committees at Boards of Directors in State-Owned Companies (PJSC) in the Russian Federation

DOI

10.2991/aebmr.k.200312.340How to use a DOI?

Abstract

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.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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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  - 10.2991/aebmr.k.200312.340
ID  - Pozdnyakov2020
ER  -