State Corporations: Can We Assess Corporate Governance?

Abstract

The article examines state corporations as one of the options to organize the governance of state-own assets. The basic legal rules of state corporations contain imbalance between the complexity and diversity of goals and concentration of resources within state corporations, on the one hand, and weak capacity of control over their activity on the ground of formal rules, on the other hand. In these circumstances the direct control by the highest level of governmental authorities over the corporations activity is critical for achieving the state objectives. The important role of the principal and relatively low demand for corporate governance rules are common features of state corporations and modern Russian private companies.