Dissertation data

Published: 26 February 2024| Version 1 | DOI: 10.17632/n294b3yzz4.1
Яна Хрусталёва


This dataset contains data on Russian public companies. Financial sector organizations were not included in the sample. It is worth describing separately the data collection process, which was divided into two parts. First of all, qualitative characteristics of corporate governance were searched and systematized. Due to the lack of access to the Bloomberg terminal, it was necessary to collect indicators "manually". Additional difficulties were caused by the fact that there is no regulated corporate governance disclosure form. Thus, companies provided data in different ways. The main sources of information were organizations' annual reports, issuer's quarterly reports, sustainability reports, IFRS financial statements, as well as relevant sections of companies' official websites. At the same time, the listed reports were not always contained on the official websites of the organizations under consideration, therefore the following information resources were used additionally: Interfax, Cbonds and LiveTrader. At the second stage of data collection we systematized financial indicators taken from IFRS statements of the companies. Corporate governance indicators: BSIZE (size of the Board of Directors), BIND (percentage of independent members of the Board of Directors), DUAL1 (combining the roles of CEO and member of the Board of Directors), DUAL2 (combining the roles of CEO and Chairman of the Management Board), YCEO (CEO irremovability - logarithm of the number of years in the position), COMT (presence of internal audit, remuneration and nomination committees), COMTIND (degree of independence of internal committees), AUDIT (dummy variable equal to 1 if audited by a Big4 company), REMUN1 (percentage of remuneration to members of the Board of Directors as a percentage of total personnel expenses), REMUN2 (percentage of remuneration to members of the Management Board as a percentage of total personnel expenses), REMUN3 (percentage of remuneration to key management personnel as a percentage of total personnel expenses). Financial indicators: ROCE (return on capital employed), SIZE (company size), QTOB (Tobin ratio), TANG (tangible fixed assets to total assets), AGE (company age), NDTS (annual depreciation to total assets), INT (interest rate). The sample includes data from 2012 through 2021. It was important to have reliable information for each indicator required for the analysis. Otherwise, the company was excluded from the sample. The final sample included 32 Russian public companies. All indicators were taken in annual terms due to the specifics of corporate governance factors (with a few exceptions, they change no more than once a year). Thus, 320 observations were available for the analysis.



Finance, Corporate Finance, Corporate Governance, Capital Structure