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Transnational corporations in private international law: do Kazakhstan and Russia have the potential to take the lead?

Author

Listed:
  • Aigul Nukusheva

    (Karagandy State University named after E. A. Buketov, Kazakhstan)

  • Gulzhazira Ilyassova

    (Karagandy State University named after E. A. Buketov, Kazakhstan)

  • Larisa Kudryavtseva

    (Kuban State Agrarian University, Russian Federation)

  • Zhanna Shayakhmetova

    (Atyrau University named after Kh. Dosmukhamedov, Kazakhstan)

  • Amina Jantassova

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Larisa Popova

    (Kuban State Agrarian University, Russian Federation)

Abstract

The aim of this paper is to determine role of transnational corporations (TNCs) in a struggle of Kazakhstan and Russia towards leadership. Concepts and hypotheses from available literature on economic globalization, TNCs, their impact on national economies, and innovation-driven development were analyzed. Most Kazakh corporations have low nominal capitals and hold shares, total value of which does not meet minimum requirements for global competition. Kazakhstan and Russia fail to secure mutual benefit of participants in investment relationship, as well as national interests. Foreign investors professionally utilize all the gaps and weaknesses that can be found in the investment law. In this regard, TNCs are the most prepared, as they have substantial resources to create favorable conditions for market presence.

Suggested Citation

  • Aigul Nukusheva & Gulzhazira Ilyassova & Larisa Kudryavtseva & Zhanna Shayakhmetova & Amina Jantassova & Larisa Popova, 2020. "Transnational corporations in private international law: do Kazakhstan and Russia have the potential to take the lead?," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 496-512, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:496-512
    DOI: 10.9770/jesi.2020.8.1(35)
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    Cited by:

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    2. Marko Milojević & Mariusz Urbański & Ivica Terzić & Valeriy Prasolov, 2020. "Impact of Non-Financial Factors on the Effectiveness of Audits in Energy Companies," Energies, MDPI, vol. 13(23), pages 1-17, November.
    3. Maciej Chowaniak & Zofia Gródek-Szostak & Karolina Kotulewicz-Wisińska & Małgorzata Luc & Marcin Suder & Anna Szeląg-Sikora, 2021. "The RES in the Countries of the Commonwealth of Independent States: Potential and Production from 2015 to 2019," Energies, MDPI, vol. 14(7), pages 1-24, March.
    4. Asad A. Aburumman, 2020. "COVID-19 impact and survival strategy in business tourism market: the example of the UAE MICE industry," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-11, December.

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    More about this item

    Keywords

    transnational corporation; international investing; Foreign Direct Investment; capital concentration; cross-border penetration; mergers and acquisitions; investment policy;
    All these keywords.

    JEL classification:

    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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