Year of Graduation
Composition of the Board of Directors: the Effect on Performance of Russian Companies
The aim of this work is to determine the effect of Boards (BoD) composition on the performance of Russian companies. We consider the following characteristics: size of the BoD, the proportion of independent directors, the presence of committees in the BoD, as well as gender diversification. The analysis was based on a sample of 94 Russian public companies listed on the MICEX in 2014. There was found a significant positive impact of the BoD independence on the company's performance (Tobin-Q) and no evidence for connection with BoD size and gender diversification. The hypothesis that there is a positive effect of committees presence was partially confirmed. In addition, we recieved a considerable evidence for the fact that the availability of information about BoD composition increases company's performance.