Article

 

Corporate control in the russian industry : actors and mechanisms (p.197-215)

by

Tatiana G. Dolgopiatova, State University - Higher School of Economics (Moscow, Russia)

Keywords : industry, enterprise, corporate governance, property rights

JEL classification : L2, P41, P42

Abstract

This paper analyses both the emergence of relations of ownership, models of corporate control in Russian industrial enterprises, and the underlying mechanisms of corporate governance that are used by owners to overcome managers’ opportunism on the one hand and by managers to oppose owners’ control on the other. The analysis was performed with due consideration to the processes of stock concentration and redistribution between insider and outsider owners. It is based on the results of about 300 formalized and 19 in-depth interviews with top managers of joint-stock companies conducted by the Bureau of Economic Analysis and the State University - Higher School of Economics in 1999-2001.