The Impact of Advisory Boards National Composition on Russian Companies' Performance

Abstract

The main goal was to examine the influence of advisory boards national diversity on Russian companies’ financial and stock market performance. The tasks were to examine and to determine theoretical basis for possible influence and to discover this influence by examining a sample of Russian companies in 2006-2011. The main result is discovered absence of steady positive influence, which contradicts the existing theories, but is aligned with other empirical studies in the foreign countries.