The Research Of Russian Corporate Governance In Period Of Economy Transition

There are four typical patterns of corporate governance all over the world. They are supreme shareholder model, stakeholders model, employee co-determination model , and internal control model. From the last decade years in 20th, the corporate governance model in Russia is formed by the economic transition process, and the economic transformation process in a series of economic, political and cultural background.From the last decade years in 20th, Russian had been privatized from stated-owned economy to privatization and established a foundation for the micro-economic foundation on basis of privatization. Since then the Russian Federation entered into a period of economic transition. However, with reform simultaneous of property rights, privatization of the Russian corporate governance still exist a series of issues. These main problems are: weakened market role, the distribution of shares is too concentrated, being lack of credibility, and the Board of Trustees without running efficiency.Facing with these problems, Russian Corporate Governance is in urgent need of reform. The main direction of reform should consider the following four aspects:government relax the control of corporate governance; strengthen institutions within the company between the powers; establish a sound accounting system review; construct the external control mechanisms of corporate governance. In addition, conditions inherited from the planned economy and transition at the beginning of a series of conditions; include ideology, constraint the transition process of designed viable option of corporate governance from the political and economical aspects.Both China and Russia are the planned economy, state centralized transition to a market economy. They have many same social, economic and legal issues. Therefore, Russian positive and negative lessons of corporate governance are helpful for it in China.