The study elucidates the essence of corporate governance, examines the theoretical foundations and methodological approaches for analyzing the corporate governance quality that are most frequently utilized in scholarly research, and are also applied in practice for decision-making by investors and other stakeholders. The article is part of a dissertation research project wherein the author describes the main aspects and factors determining the corporate governance quality, substantiates the need for improving the corporate governance quality in industrial companies, and analyzes existing methodological approaches to the analysis of corporate governance quality in the context of their applicability to the Russian industrial sector. To achieve the goal the author employed methods such as comparative and critical analysis of scientific literature and aggregation. The theoretical and practical significance of the research results lies in determining the most suitable methodological approach for analyzing the corporate governance quality for Russian industrial companies against the backdrop of global challenges, by examining the specificity of company activities and comparing the parameters of the most common methodological approaches and models of corporate governance. Thus, the article makes a significant contribution to the development of theoretical and practical aspects of the essence of Russian corporate governance including analysis of its quality. The conclusions of the research emphasize the need to improve the corporate governance quality in Russian industrial companies by enhancing transparency, developing mechanisms for considering the interests of all stakeholders, and integrating ESG principles, and can be utilized by both the business community and government structures for the purpose of improving corporate governance mechanisms in Russian industrial companies. As a prospective direction for future research, the author highlights the analysis and evaluation of the corporate governance quality in Russian industrial companies and the development of a set of measures for its improvement.