Zimrutyan G.A.Published in:
Global Markets and Financial Engineering (Russian version)
– Volume 3, Number 3 (July-September)

JEL classification: G32, M12, M16

Keywords: corporate culture, corporate governance, firm capitalization, russia


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Abstract:

The article is devoted to the empirical testing of the relationship between some aspects of corporate culture and corporate governance on international firm's market capitalization in Russia. We have constructed a questionnaire using Survey Monkey platform and performed a survey of employees of international firms operating in Russia. We analyzed the following aspects of corporate culture and governance: commitment, corporate ethics, organizational climate, and teamwork. We study the relation between chosen aspects of the firm-level corporate governance and culture of international companies operating in Russia and their market values in 2015 financial year, using OLS, ordinal logistic regression, gender and position effects.

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