Handbook on Corporate Governance in Financial Institutions
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Handbook on Corporate Governance in Financial Institutions

  • Research Handbooks in Business and Management series

Edited by Christine A. Mallin

The global financial crisis has led to more and more focus on corporate governance and financial institutions. There has been much coverage in the media about various corporate governance related issues in banks and other financial institutions, such as executive directors’ remuneration and bankers’ bonuses, board composition and board diversity. This engaging book, dedicated to the corporate governance of banks and other financial institutions, makes a timely and accessible contribution to the literature in this area. The chapters highlight many of the shortcomings of corporate governance which have led to financial scandals, whilst indicating areas where corporate governance can be strengthened and improved.
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Chapter 9: Determinants of corporate governance in Russian banks

Inessa Love and Botir Okhunjanov

Abstract

Russia has seen a rapid growth in its banking sector since the economic crisis of 1997, but the level of corporate governance in the banking sector is still in the developing stage. This chapter evaluates the main determinants of corporate governance in Russian banks and its relationship with bank ownership. The authors find that the number of shareholders is positively related to the governance index, and banks with more concentrated ownership have lower rankings on corporate governance. Furthermore, their findings show that while banks with large owners score lower on the corporate governance index, banks with a more pronounced presence of minority shareholders appear to have higher rankings on corporate governance.

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