俄罗斯公司的独立董事

Independent Directors of Russian Companies

公司治理结构是现代企业制度的核心,而公司治理结构本身又可大致分为英美模式和德国大陆模式。在英美模式下,由于公司股权的高度分散,股东和经理人之间信息不对称,使股东对经理层的监督变得十分困难,形成了“内部人控制”的局面。为了解决这一问题,独立董事制度被创造出来并成为公司治理结构的一个有机组成部分。俄罗斯的企业制度也是公司制,公司治理结构具有综合的性质。为了解决其内部人控制的问题,吸引外部投资,促进经济发展,俄罗斯的公司治理结构中也开始引入独立董事制度。本文即是对俄罗斯公司独立董事制度的介绍和分析。

Corporate governance structure is the core of the modern enterprise system. On the other hand, the structure can be divided into the British and American pattern and the German continental pattern. Under the British and American pattern. it is very difficult for the stockowners to supervise the management due to the scattered stock rights of the company and the unbalanced information between the stockowners and the managers; hence, the control of the insiders. To settle this issue, a system of independent directors is created as an organic part of the corporate governance structure. The Russian enterprise system is also the corporate system and the corporate governance structure is of a comprehensive character. To settle the issue of control by the insiders, the Russian corporate governance structure also starts introducing the system of independent directors while absorbing foreign investment and promoting economic development. This article gives an analytic account of the system of independent directors in Russian companies.