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The Births, Lives and Deaths of Corporations in Late Imperial Russia

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  • Amanda Gregg
  • Steven Nafziger

Abstract

Enterprise creation, destruction and evolution support the transition to modern economic growth, yet these processes are poorly understood in industrialising contexts. We investigate Imperial Russia's industrial development at the firm level by examining entry, exit and persistence of corporations. Relying on newly developed balance sheet panel data from every non-financial Russian corporation (more than 2,500 of them) between 1899 and 1914, we examine the characteristics of entering and exiting corporations, how new entrants evolved and the impact of founder identity on subsequent outcomes. Russian corporations evolved within a market environment, conditional on overcoming distortionary institutional barriers to entry that slowed the emergence of these leading firms in the Imperial economy.

Suggested Citation

  • Amanda Gregg & Steven Nafziger, 2024. "The Births, Lives and Deaths of Corporations in Late Imperial Russia," The Economic Journal, Royal Economic Society, vol. 134(661), pages 2041-2070.
    • Handle: RePEc:oup:econjl:v:134:y:2024:i:661:p:2041-2070.
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    File URL: http://hdl.handle.net/10.1093/ej/ueae011
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    Cited by:

    1. Cihan Artunç, 2024. "Legal origins of corporate governance: Choice of law in Egypt, 1887–1914," Economic History Review, Economic History Society, vol. 77(1), pages 3-40, February.

    More about this item

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N63 - Economic History - - Manufacturing and Construction - - - Europe: Pre-1913
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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