Corporate culture as a mechanism of corporate governance in Russian companies

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.