Business Ethics and Corporate Governance, Second Edition

CASE STUDY: PROBLEMS AND ISSUES OF CORPORATE GOVERNANCE IN EMERGING ECONOMIES: RUSSIAN EXAMPLE

(This case is based on reports in the print and electronic media. The case is meant for academic purpose only. The writer has no intention to sully the reputations of the corporate or executives discussed.)

THE RUSSIAN ECONOMY IN TRANSITION

The early 1990s witnessed a dramatic transformation of the Russian economy. It started with the dismantling of the command (centrally planned) economy, which was a hallmark of the erstwhile Soviet Union. This was gradually replaced by a market-driven economy operating on the basis of market forces and private property. With the collapse of the Soviet Union in 1991, the Russian Federation became an independent country. ...