Issue 1, 2003

Ovsyanko D. V. Contemporary Corporate Governance and the Board of Directors Activities

This article considers corporate governance as a regular process of providing owners' interests in corporate entities. With the separation of ownership from management in corporations the need to choose the general direction of development and control of management appeared. The author examines fundamental characteristics of the basic regulating body for corporate governance — the Board of Directors: it's structure, directors' functions, independent directors' role, Board activity styles and main problems Boards face. There is a short review of theoretical concepts of corporate governance and description of the number of aspects, connected with different points of view on the governance process. Specific problems of building corporate governance system in Russia are covered.

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