CORPORATE CULTURE AS A MECHANISM OF CORPORATE GOVERNANCE IN RUSSIAN COMPANIES

Abstract

The article talks about the importance of corporate culture as a mechanism of corporate governance for
Russian companies in modern conditions. For example, companies with state participation showed that most
of them still lag far behind best practices in corporate governance in terms of reflection of value systems, ethical
norms and other manifestations of corporate culture in its internal documents. On the basis of the conducted
analysis it is concluded that the development of certain components of the corporate culture will enhance
the level of corporate management in many Russian companies. On the basis of the strategic approach
specific steps are proposed to improve the process of the corporate culture development.