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Russian Holding Company Groups: New Empirical Evidence

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  • S. Avdasheva

Abstract

The article is devoted to Russian holding company groups. New sample survey data allow discussing the scale of expansion and internal structure of these groups, incentives to create them, the patterns of corporate governance and decision-making, scale of their internal financial market. In spite of the fact that holding company groups are extremely heterogeneous, most of them constitute new companies, which overcome the weaknesses of insider ownership model, with converged ownership and management. Companies in the holdings retain certain degree of autonomy in decision-making, and at the same time this process is connected with corporate governance procedures. Still the trends in the development of corporate governance are controversial and it is too early to conclude that the model of ownership separated from management inside the holding company groups has definitely proved its viability.

Suggested Citation

  • S. Avdasheva, 2007. "Russian Holding Company Groups: New Empirical Evidence," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    • Handle: RePEc:nos:voprec:y:2007:id:1557
    DOI: 10.32609/0042-8736-2007-1-98-111
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    References listed on IDEAS

    as
    1. Sergei Guriev & Andrei Rachinsky, 2005. "The Role of Oligarchs in Russian Capitalism," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 131-150, Winter.
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    4. Perotti, Enrico C. & Gelfer, Stanislav, 2001. "Red barons or robber barons? Governance and investment in Russian financial-industrial groups," European Economic Review, Elsevier, vol. 45(9), pages 1601-1617, October.
    5. repec:hal:spmain:info:hdl:2441/1cu21pio6c90g9i5oedr5hnaa3 is not listed on IDEAS
    6. Andrei Shumilov & Natalya Volchkova, 2004. "Russian business groups: substitutes for missing institutions?," Working Papers w0050, New Economic School (NES).
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