Globalization and corporate governance: Russia's oil and gas sector in the global economy

When an enterprise becomes integrated into the world economy, it is forced to adopt international standards of corporate governance and so to improve its corporate governance. This article uses three case studies from the Russian oil and gas sector to demonstrate this. In addition, two indices are developed as ways of measuring the degree of internationalization and the quality of corporate governance. The article comes to the conclusion that since the 1998 financial crisis, global factors have had a positive influence on corporate governance in Russia.