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Assesing the Effectiveness of Joint Companies in Russia: Industry-Specific Features

Author

Listed:
  • Elena Anatolyevna Fedorova

    (Financial University under the Government of the Russian Federation, Financial Management Department)

  • Bella Kemalovna Korkmazova

    (Financial University under the Government of the Russian Federation, Financial Management Department)

  • Maxim Alexandrovich Muratov

    (Financial University under the Government of the Russian Federation, Financial Management Department)

Abstract

The paper evaluates the effectiveness of joint and domestic companies using ROA (operational efficiency) and DEA (technical efficiency) methodologies. The technical efficiency was estimated in two ways: according to the classical scheme and taking into account spillover effects. The study was based on statements of Russian companies (23 567 joint enterprises and 14 653 companies without FDI) for the period of 2008-2012. The authors used RusLana resource to get following information: balance sheets, profit and loss statements, capital structure, number of employees and regional affiliation. The study found that joint companies usually operate more effectively than domestic ones. The authors also conclude that the crisis has not caused severe damages to the average effectiveness by industries. More than that, Russian economy has positive horizontal and vertical FDI spillover effects which increase as time goes by. In 2012 the most efficient joint companies (in terms of technical efficiency) belonged to the following industries: coke and petroleum production, chemical industry and metallurgy. The most ineffective ones included following: wholesale and retail trade, machinery and equipment production and agriculture.

Suggested Citation

  • Elena Anatolyevna Fedorova & Bella Kemalovna Korkmazova & Maxim Alexandrovich Muratov, 2015. "Assesing the Effectiveness of Joint Companies in Russia: Industry-Specific Features," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 2, pages 47-63.
    • Handle: RePEc:far:spaeco:y:2015:i:2:p:47-63
    DOI: 10.14530/se.2015.2.047-063
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