Corporate governance in Russian companies is a complex and evolving concept that has become a major issue. In Russia, the concept of corporate governance refers to the relationships among a company's management.

Historically, corporate governance in Russia has been a concern due to lack of transparency. Many Russian companies have failed to implement international standards. Furthermore, corporate governance has been a concern due to the lack of accountability in the management.

However, in recent years, there have been significant efforts to improve corporate governance in Russian companies. The Russian government has developed policies to promote corporate governance. For example, the Corporate Governance Code recommends best practices for corporate governance.

In recent years, the Russian government launched, the Federal Law on the Joint Stock Company, which strengthened the regulatory framework. The law requires that companies have a clear system of internal control and risk management in place.

In addition, the Russian government has launched initiatives aimed at promoting corporate governance for the establishment of new corporate governance standards. The code includes principles on corporate governance structure.

Moreover, passport translation services large Russian companies have started to adopt Western-style corporate governance practices, such as the development of internal control systems. Many major Russian companies have also started to disclose their corporate governance practices in their annual reports, which has promoted best practices.

Notably, large Russian companies, such as Yandex and Mail.ru, have incorporated best corporate governance practices into their corporate structures. Some smaller companies, however, still struggle with implementing high standards.

These are the ones that are typically impacted such as natural resources and banking.

More importantly, foreign investment has had significant influence in Russian corporate governance practices. Many foreign investors have pushed Russian companies improving their corporate governance standards. These investors have played a key role in pushing Russian companies to reform.

Despite these advances, the challenge remains, in terms of improving corporate governance in its companies. Russian corporate governance practices still lag, behind those of many Western countries, and the lack of a clear regulatory framework for corporate governance continues to be a challenge.

Furthermore, many Russian companies still face challenges in implementing corporate governance. This can put the company at risk of financial instability.

In conclusion, corporate governance in Russian companies has made significant progress, but there is more work to be done to achieve the international standards that are recognized. Efforts should be focused on strengthening corporate governance standards and to provide smaller Russian companies with the necessary resources.