Whither corporate Russia

Vanteeva, Nadia; Hickson, Charles

Abstract

Using firm-level information obtained from the Russian Trading System stock exchange from 1998 through 2006, we estimate growth performance of the Russian corporate sector. We find consistently improving growth, and note that higher growth performance is correlated with greater partial state re-acquisition and state corporate governance presence. We argue that the latter served, not only to safeguard against misappropriation of firm assets and government subsidies, but also to discourage managers from opting for shorter than optimal investment durations. Thus state corporate-governance strategy may serve as a second best policy to a more developed property rights system. © 2012 ACES. All rights reserved.

• Journal Article Type: Article
• Publication Date: Mar 1, 2012
• Deposit Date: Apr 28, 2015
• Publicly Available Date: Apr 3, 2016
• Journal: Comparative Economic Studies
• Print ISSN: 0888-7233
• Electronic ISSN: 1478-3320
• Publisher: Palgrave Macmillan (part of Springer Nature)
• Peer Reviewed: Peer Reviewed
• Volume: 54
• Issue: 1
• Pages: 173-201
• DOI: https://doi.org/10.1057/ces.2011.31
• Keywords: whither, corporate, Russia
• Public URL: https://uwe-repository.worktribe.com/output/949623
• Publisher URL: http://dx.doi.org/10.1057/ces.2011.31
• Additional Information: Additional Information : “This is a post-peer-review, pre-copyedit version of an article published in Comparative Economic Studies. The definitive publisher-authenticated version: Vanteeva, N. and Hickson, C. (2012) Whither corporate Russia? Comparative Economic Studies, 54. pp. 173-201. ISSN 0888-7233 is available online at: http://www.palgrave-journals.com/ces/journal/v54/n1/index.html"
• Contract Date: Apr 3, 2016