To address the issues of investment appeal in the Russian electric power industry,this study analyzes the dynamics of corporate governance,including permanent redistribution of property and compliance with the Russian...To address the issues of investment appeal in the Russian electric power industry,this study analyzes the dynamics of corporate governance,including permanent redistribution of property and compliance with the Russian Corporate Governance Code,in wholesale and territorial-generating companies.The increasing concentration of property in the hands of the state and its implications for investors are also noted.This study reveals the violations of essential principles,and the substantial differences in corporate governance practices,in the best-and worst-performing companies.Additional standards for better corporate governance practices to benefit the investors in the context of the current Environmental,Social,and corporate Governance(ESG)agenda are proposed.This study provides a new insight at the development of corporate governance in Russian power generating companies through property redistribution and compliance with corporate governance principles.展开更多
Companies are directed and controlled by corporate governance.It acts on the company internally and externally.The board of directors is responsible for the governance of the company;that is to say,the board of direct...Companies are directed and controlled by corporate governance.It acts on the company internally and externally.The board of directors is responsible for the governance of the company;that is to say,the board of directors is the brain of the company,while corporate governance is the blood distributed throughout the company,which not only supplies blood to the whole,but also reflects the situation.Therefore,with regard to the role of the board of directors in corporate governance,this paper objectively analyzes the importance of the board of directors in corporate governance from theory to practice and from the internal composition of the board of directors to the impact of the board’s actions on the enterprise as a whole based on United Kingdom(UK)listed companies.展开更多
Based on the background of China's emerging and transitional market,government subsidies to enterprises are regarded as a " helping hand" of promoting economic structural adjustment. In this paper,using ...Based on the background of China's emerging and transitional market,government subsidies to enterprises are regarded as a " helping hand" of promoting economic structural adjustment. In this paper,using China's A-share agricultural listed companies from 2010 to 2015 as research samples,we discuss the influence of government subsidies on research and development( hereinafter referred to as R & D) investment,and the difference in the relationships between the two from the perspective of different nature of property rights. The results show that,on the whole,the increase in government subsidies does not promote the intensity of R & D investment of agricultural listed companies. And after distinguishing the nature of property rights,the results show that state-owned enterprises can get more government subsidies than private enterprises,and the increase in government subsidies boosts the increase in R & D investment in private enterprises,but there is a negative correlation between government subsidies and R & D investment of state-owned enterprises. This conclusion can broaden the research perspective of the influence factors of corporate R & D investment,and it is of practical significance to further clarify the role of government subsidies in R & D investment decisions of enterprises with different nature of property rights.展开更多
Food safety issues constitute an international topic discussed by many scholars. Although there is an extensive body of literature on comparisons of food safety control practices across different governance structures...Food safety issues constitute an international topic discussed by many scholars. Although there is an extensive body of literature on comparisons of food safety control practices across different governance structures, these studies have been conducted mainly in terms of qualitative and descriptive analysis. In addition, little attention has been given to family farms. This study addresses the food safety control practices adopted by firms with different governance structures in China. Food safety control is expressed by the following aspects, i.e., pollution-free, green, organic, and/or geographical indication prod- ucts certification, establishment of production records, and pesticide residue testing. Three types of governance structures that engage in agricultural production are distinguished: farmer cooperatives, agricultural companies, and family farms. The food safety control practices of various governance structures are investigated based on a database that comprises 600 vegetable and fruit enterprises in Zhejiang, China. The results show that (1) pesticide residue testing is adopted by the most firms, followed by products certification, and production records are adopted by the fewest firms, and (2) agricul- tural companies adopt more food safety control practices than family farms, while farmer cooperatives adopt the fewest food safety control practices. Governance structure features of a cooperative in terms of ownership, decision-making, and income distribution are the main reasons for the low level of food safety control in the cooperative.展开更多
In China, the concept of corporate governance does not have a long history, and the implementation of corporate governance has been growing up with the process of China's enterprise reform especially the SOEs (sta...In China, the concept of corporate governance does not have a long history, and the implementation of corporate governance has been growing up with the process of China's enterprise reform especially the SOEs (state-owned enterprises) reform and economic growth. In the last two decades, China's enterprise reform has been the focus of economic reform and system reform, and the importance of corporate governance became clearly recognized among the join stock corporations which had undergone or are ongoing the corporatization progress.展开更多
The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to wh...The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to which they are exposed.In this sense,the following research problem arises:The Environmental Impact Assessment(EIA),an instrument of the National Environment Policy and a model of environmental risk management adopted by some companies,proves to be efficient,effective and effective for the fulfillment of the duty to protect the environmental balance and,therefore,for sustainable development?The present study aims to elucidate this research problem.To this end,analyzes were carried out on risk and environmental damage,from a perspective of the socio-environmental function of companies today;the need for a new posture by companies in view of the reflexes of environmental risks in business activity;and the question of the adequacy or inadequacy of the EIA as an instrument of the National Environment Policy and as a model for managing environmental risks and damages,in the pursuit of sustainable development.The method of approach used was the deductive one,and the research was carried out using the method of bibliographic procedure,through which research was carried out on books,scientific articles and legislation.The result points out the inefficiency and ineffectiveness of the EIA for the management of environmental risks and,thus,for the fulfillment of the duty to protect the environmental balance by companies.展开更多
基金the State Assignment Project (No. FWEU-2021-0001) of the Fundamental Research Program of the Russian Federation 2021–2030
文摘To address the issues of investment appeal in the Russian electric power industry,this study analyzes the dynamics of corporate governance,including permanent redistribution of property and compliance with the Russian Corporate Governance Code,in wholesale and territorial-generating companies.The increasing concentration of property in the hands of the state and its implications for investors are also noted.This study reveals the violations of essential principles,and the substantial differences in corporate governance practices,in the best-and worst-performing companies.Additional standards for better corporate governance practices to benefit the investors in the context of the current Environmental,Social,and corporate Governance(ESG)agenda are proposed.This study provides a new insight at the development of corporate governance in Russian power generating companies through property redistribution and compliance with corporate governance principles.
文摘Companies are directed and controlled by corporate governance.It acts on the company internally and externally.The board of directors is responsible for the governance of the company;that is to say,the board of directors is the brain of the company,while corporate governance is the blood distributed throughout the company,which not only supplies blood to the whole,but also reflects the situation.Therefore,with regard to the role of the board of directors in corporate governance,this paper objectively analyzes the importance of the board of directors in corporate governance from theory to practice and from the internal composition of the board of directors to the impact of the board’s actions on the enterprise as a whole based on United Kingdom(UK)listed companies.
文摘Based on the background of China's emerging and transitional market,government subsidies to enterprises are regarded as a " helping hand" of promoting economic structural adjustment. In this paper,using China's A-share agricultural listed companies from 2010 to 2015 as research samples,we discuss the influence of government subsidies on research and development( hereinafter referred to as R & D) investment,and the difference in the relationships between the two from the perspective of different nature of property rights. The results show that,on the whole,the increase in government subsidies does not promote the intensity of R & D investment of agricultural listed companies. And after distinguishing the nature of property rights,the results show that state-owned enterprises can get more government subsidies than private enterprises,and the increase in government subsidies boosts the increase in R & D investment in private enterprises,but there is a negative correlation between government subsidies and R & D investment of state-owned enterprises. This conclusion can broaden the research perspective of the influence factors of corporate R & D investment,and it is of practical significance to further clarify the role of government subsidies in R & D investment decisions of enterprises with different nature of property rights.
基金supported by the National Social Science Fund of China (13AZD079)the Zhejiang Provincial Natural Science Foundation of China (LQ14G030041 and LZ12G03003)the National Natural Science Foundation of China (71333011 and 71273234)
文摘Food safety issues constitute an international topic discussed by many scholars. Although there is an extensive body of literature on comparisons of food safety control practices across different governance structures, these studies have been conducted mainly in terms of qualitative and descriptive analysis. In addition, little attention has been given to family farms. This study addresses the food safety control practices adopted by firms with different governance structures in China. Food safety control is expressed by the following aspects, i.e., pollution-free, green, organic, and/or geographical indication prod- ucts certification, establishment of production records, and pesticide residue testing. Three types of governance structures that engage in agricultural production are distinguished: farmer cooperatives, agricultural companies, and family farms. The food safety control practices of various governance structures are investigated based on a database that comprises 600 vegetable and fruit enterprises in Zhejiang, China. The results show that (1) pesticide residue testing is adopted by the most firms, followed by products certification, and production records are adopted by the fewest firms, and (2) agricul- tural companies adopt more food safety control practices than family farms, while farmer cooperatives adopt the fewest food safety control practices. Governance structure features of a cooperative in terms of ownership, decision-making, and income distribution are the main reasons for the low level of food safety control in the cooperative.
文摘In China, the concept of corporate governance does not have a long history, and the implementation of corporate governance has been growing up with the process of China's enterprise reform especially the SOEs (state-owned enterprises) reform and economic growth. In the last two decades, China's enterprise reform has been the focus of economic reform and system reform, and the importance of corporate governance became clearly recognized among the join stock corporations which had undergone or are ongoing the corporatization progress.
文摘The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to which they are exposed.In this sense,the following research problem arises:The Environmental Impact Assessment(EIA),an instrument of the National Environment Policy and a model of environmental risk management adopted by some companies,proves to be efficient,effective and effective for the fulfillment of the duty to protect the environmental balance and,therefore,for sustainable development?The present study aims to elucidate this research problem.To this end,analyzes were carried out on risk and environmental damage,from a perspective of the socio-environmental function of companies today;the need for a new posture by companies in view of the reflexes of environmental risks in business activity;and the question of the adequacy or inadequacy of the EIA as an instrument of the National Environment Policy and as a model for managing environmental risks and damages,in the pursuit of sustainable development.The method of approach used was the deductive one,and the research was carried out using the method of bibliographic procedure,through which research was carried out on books,scientific articles and legislation.The result points out the inefficiency and ineffectiveness of the EIA for the management of environmental risks and,thus,for the fulfillment of the duty to protect the environmental balance by companies.