Relationship between characteristics of Board of Directors and decision to change legal form of companies

Abstract

Goal – reveal relationship between characteristics of board of directors and legal form change of companies. Tasks – 1) provide comprehensive overview of emerging of open joint-stock companies (OJSC) and closed joint-stock companies (CJSC) companies and characterize specifics of corporate governance in OJSC and CJSC companies; 2) provide overview of board of directors as corporate governance mechanism in joint-stock companies; 3) conduct an empirical research aimed toward revealing relationship between characteristics of the board of directors and decision to change legal form of companies. Results – relationship between specific characteristics of board of directors is revealed, in particular: board ownership concentration, chairman of the board of directors concentration and some firm-specific factors.