Composition of the Board of Directors: the Effect on Performance of Russian Companies

Student: Severova Nadezda

Supervisor: Olga Lazareva

Educational Programme: Economics (Bachelor)

Year of Graduation: 2016

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.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses