Information Transparency and Performance of Russian Publicly-Headed Companies

Information transparency plays one of the important roles in the allocation of resources in capital markets. Since stakeholders are increasingly concerned about the financial performance of the company, the lack of this information may hinder the adoption of rational decisions, slow down the search for potential investors and the development of the company. The purpose of the work is to assess the impact of information transparency on the performance of companies. The paper reviewed the theoretical aspects of the impact of information transparency, as well as trends in information disclosure in the Russian market. Also in the work were reviewed existing empirical studies on this issue. Econometric models were built on S & P data for 2002-2008. According to the analysis there is reason to argue about the positive impact of information transparency on the performance of companies.