Corporate governance, integration and reorganisation: the contemporary trends of russian corporate groups

• Published in: Economic change and restructuring Vol. 39; no. 3-4; pp. 261 - 323
• Main Author: Radygin, Alexander
• Format: Journal Article
• Language: English
• Published: Dordrecht Springer Nature B.V 01-12-2006
• Subjects: Administrative efficiency; Capital stock; Capitalism; Corporate governance; Economic analysis; Economic concentration; Economic growth; Economic reform; Institutional investments; Market economy; Organizational analysis; Ownership and control; Privatization; Russian Federation; Stockholders; Studies; Transition economies; Trends; Russia
• ISSN: 1573-9414; 1574-0277
• DOI: 10.1007/s10644-007-9012-6

The problem of corporate governance has been acquiring prominence in Russia since the second half of the 1990s. The external stimuli were the processes going on a global scale, namely the growing interest in corporate governance in the USA and some other countries in the 1980s, the worldwide financial crisis of 1997-1998, and the problems faced by corporations in countries with developing markets. In Russia, the initial interest to corporate governance objectively arose only after the completion of mass privatisation during 1993-1994. In the 2000s the largest Russian groups have begun a search for an appropriate place in the system of international economic relations. The adequacy of the chosen strategy largely depends upon the owners motives (a strategic development of a competitive group or a withdrawal from a business with a fixed profit) and can be confirmed only in the course of time.