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  • Academic Directors in the Board of Directors of Russian Public Listed Companies and Their Impact on Firm Performance

Academic Directors in the Board of Directors of Russian Public Listed Companies and Their Impact on Firm Performance

Student: Almaganbetov Almas

Supervisor: Maria S. Kokoreva

Faculty: Faculty of Economic Sciences

Educational Programme: Strategic Corporate Finance (Master)

Year of Graduation: 2019

Directors from academia served on the Russian boards of around 45% of MOEX 136 firms over the 2012–2017 period. This paper investigates the effects of academic directors on corporate governance and firm performance. I obtain that companies with directors from academia are associated with higher performance and this correlation is driven by professors without administrative positions. Mine results provide supportive evidence that academic directors of Russian companies are valuable advisors and effective monitors and that, in general, firms benefit from having academic directors.

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