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Employee Buyouts and the Transformation of Russian Industry

Author

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  • Trevor Buck
  • Igor Filatotchev
  • Mike Wright

Abstract

Employee buyout, the main privatization vehicle for large Russian industrial enterprises, has been widely critized because it provides no new funds for investment, produces sub-optimal decisions in terms of operations and strategy, and results in faulty corporate governance. While our study confirms these features, our analysis suggests that employee buyout offers a major advantage as a versatile structure that can change over time to produce a genuine industrial transformation.

Suggested Citation

  • Trevor Buck & Igor Filatotchev & Mike Wright, 1994. "Employee Buyouts and the Transformation of Russian Industry," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 36(2), pages 1-15, July.
    • Handle: RePEc:pal:compes:v:36:y:1994:i:2:p:1-15
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    Cited by:

    1. Susan Linz, 2000. "Restructuring with What Success? A Case Study of Russian Firms," William Davidson Institute Working Papers Series 324, William Davidson Institute at the University of Michigan.
    2. Aurélie Sannajust & Alexander Groh, 2023. "Pioneering management buy-out and entrepreneurial finance research: Mike Wright’s research legacy," Small Business Economics, Springer, vol. 60(1), pages 1-35, January.
    3. Mulaj, Isa, 2005. "Delayed privatization in Kosovo: causes, consequences, and implications in the ongoing process," MPRA Paper 103217, University Library of Munich, Germany.

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