IDEAS home Printed from https://ideas.repec.org/a/taf/pocoec/v22y2010i2p129-140.html
   My bibliography  Save this article

The Russian corporation: patterns of behaviour during the crisis

Author

Listed:
  • Andrei Yakovlev
  • Yuri Simachev
  • Yuri Danilov

Abstract

This article considers the behaviour patterns of Russian firms before and during the financial crisis of 2008-09. To facilitate comparison, we define three main groups of actors at the firm level in the Russian economy - large, politically connected companies; medium-size firms that expanded in the 2000s with the help of administrative support, and successful medium-size firms driven by market factors. Many of the large companies practised highly risky financial policies and experienced a decrease in efficiency before the crisis, and the managers and owners of some Russian firms have been engaging in opportunistic behaviour during the crisis; the forms and causes of this behaviour are analysed here. We conclude by proposing some policy implications with emphasis on supporting successful medium-size firms driven by market factors.

Suggested Citation

  • Andrei Yakovlev & Yuri Simachev & Yuri Danilov, 2010. "The Russian corporation: patterns of behaviour during the crisis," Post-Communist Economies, Taylor & Francis Journals, vol. 22(2), pages 129-140.
  • Handle: RePEc:taf:pocoec:v:22:y:2010:i:2:p:129-140
    DOI: 10.1080/14631371003740555
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/14631371003740555
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/14631371003740555?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Puffer, Sheila M. & McCarthy, Daniel J., 2007. "Can Russia's state-managed, network capitalism be competitive?: Institutional pull versus institutional push," Journal of World Business, Elsevier, vol. 42(1), pages 1-13, March.
    2. Wladimir Andreff, 2005. "Corporate Governance Structures in Postsocialist Economies: Toward a Central Eastern European Model of Corporate Governance?," Post-Print halshs-00270026, HAL.
    3. Puffer, Sheila M. & McCarthy, Daniel J., 2003. "The emergence of corporate governance in Russia," Journal of World Business, Elsevier, vol. 38(4), pages 284-298, November.
    4. Andrei Yakovlev, 2004. "Evolution of corporate governance in Russia: government policy vs. real incentives of economic agents," Post-Communist Economies, Taylor & Francis Journals, vol. 16(4), pages 387-403.
    5. S. Aleksashenko., 2008. "Crisis-2008: Time to Set a Diagnosis," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 11.
    6. Tatiana Dolgopyatova & Ichiro Iwasaki & Andrei A. Yakovlev (ed.), 2009. "Organization and Development of Russian Business," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-24949-3, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:zbw:bofitp:2011_010 is not listed on IDEAS
    2. Yakovlev, Andrei & Govorun, Andrei, 2011. "Industrial Associations as a Channel of Business-Government Interactions in an Imperfect Institutional Environment: The Russian Case," IWH Discussion Papers 16/2011, Halle Institute for Economic Research (IWH).
    3. Lev Freinkman & Andrei Yakovlev, 2015. "Institutional frameworks to support regulatory reform in middle-income economies: lessons from Russia's recent experience," Post-Communist Economies, Taylor & Francis Journals, vol. 27(3), pages 354-369, September.
    4. Andrei Yakovlev & Andrei Govorun, 2011. "Industrial Associations as a Channel of Business-Government Interactions in an Imperfect Institutional Environment: The Russian Case," UCL SSEES Economics and Business working paper series 116, UCL School of Slavonic and East European Studies (SSEES).
    5. Iwasaki, Ichiro & 岩﨑, 一郎, 2016. "The Evolution of Corporate Governance in the Global Financial Crisis : The Case of Russian Industrial Firms," CEI Working Paper Series 2016-7, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    6. Yakovlev, Andrei, 2011. "State-business relations in Russia in the 2000s: From the capture model to a variety of exchange models?," BOFIT Discussion Papers 10/2011, Bank of Finland Institute for Emerging Economies (BOFIT).
    7. Sergey Solntsev, 2013. "Senior management labor market: from economic growth to crisis. The case of Russia," HSE Working papers WP BRP 10/MAN/2013, National Research University Higher School of Economics.
    8. Yakovlev, Andrei, 2011. "State-business relations in Russia in the 2000s: From the capture model to a variety of exchange models?," BOFIT Discussion Papers 10/2011, Bank of Finland, Institute for Economies in Transition.
    9. Ichiro Iwasaki, 2015. "Global Financial Crisis, Ownership Change, and Corporate Governance Evolution Firm-Level Evidence from Russia," KIER Working Papers 925, Kyoto University, Institute of Economic Research.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Melkumov, Dmitri, 2009. "Institutional background as a determinant of boards of directors' internal and external roles: The case of Russia," Journal of World Business, Elsevier, vol. 44(1), pages 94-103, January.
    2. Sheila M. Puffer & Daniel J. McCarthy & Max Boisot, 2010. "Entrepreneurship in Russia and China: The Impact of Formal Institutional Voids," Entrepreneurship Theory and Practice, , vol. 34(3), pages 441-467, May.
    3. Paeivi Karhunen, 2008. "Toward convergence in the St. Petersburg hotel industry through the lens of institutional theory," Journal of East European Management Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 13(2), pages 106-128.
    4. Suman Banerjee & Saul Estrin & Sarmistha Pal, 2022. "Corporate disclosure, compliance and consequences: evidence from Russia," The European Journal of Finance, Taylor & Francis Journals, vol. 28(17), pages 1770-1802, November.
    5. Ichiro IWASAKI & Satoshi MIZOBATA, 2018. "Post-Privatization Ownership And Firm Performance: A Large Meta-Analysis Of The Transition Literature," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(2), pages 263-322, June.
    6. Ichiro Iwasaki, 2018. "Corporate Governance System and Regional Heterogeneity: Evidence from East and West Russia," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 25(3), pages 391-420, September.
    7. Ichiro Iwasaki, 2015. "Global Financial Crisis, Ownership Change, and Corporate Governance Evolution Firm-Level Evidence from Russia," KIER Working Papers 925, Kyoto University, Institute of Economic Research.
    8. Ciprian Stan & Mike Peng & Garry Bruton, 2014. "Slack and the performance of state-owned enterprises," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 473-495, June.
    9. Khoury, Theodore A. & Peng, Mike W., 2011. "Does institutional reform of intellectual property rights lead to more inbound FDI? Evidence from Latin America and the Caribbean," Journal of World Business, Elsevier, vol. 46(3), pages 337-345, July.
    10. Ichiro Iwasaki & Satoshi Mizobata & Alexander Muravyev, 2018. "Ownership dynamics and firm performance in an emerging economy: a meta-analysis of the Russian literature," Post-Communist Economies, Taylor & Francis Journals, vol. 30(3), pages 290-333, May.
    11. Robertson, Christopher J. & Gilley, K. Matthew & Street, Marc D., 2003. "The relationship between ethics and firm practices in Russia and the United States," Journal of World Business, Elsevier, vol. 38(4), pages 375-384, November.
    12. Hüttenbrink, Alexander & Oehmichen, Jana & Rapp, Marc Steffen & Wolff, Michael, 2014. "Pay-for-performance – Does one size fit all? A multi-country study of Europe and the United States," International Business Review, Elsevier, vol. 23(6), pages 1179-1192.
    13. Kyj, Myroslaw J. & Kyj, Larissa, 2009. "An institution-stakeholder framework for examining business relationship dynamics in a transforming Eastern Europe," Journal of World Business, Elsevier, vol. 44(3), pages 300-310, July.
    14. Dimiter IALNAZOV & Nikolay NENOVSKY, 2010. "The Evolution of Post-Communist Countries: An Interpretation from the Perspective of Cooperation," LEO Working Papers / DR LEO 1600, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    15. Preuss, Lutz & Vazquez-Brust, Diego & Yakovleva, Natalia & Foroughi, Hamid & Mutti, Diana, 2022. "When social movements close institutional voids: Triggers, processes, and consequences for multinational enterprises," Journal of World Business, Elsevier, vol. 57(1).
    16. Iwasaki, Ichiro & 岩﨑, 一郎, 2013. "What Determines Audit Independence and Expertise in Russia? Firm-Level Evidence," RRC Working Paper Series 27_v2, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    17. Lau, Chung Ming & Bruton, Garry D., 2011. "Strategic orientations and strategies of high technology ventures in two transition economies," Journal of World Business, Elsevier, vol. 46(3), pages 371-380, July.
    18. Ilya Okhmatovskiy & Robert J. David, 2012. "Setting Your Own Standards: Internal Corporate Governance Codes as a Response to Institutional Pressure," Organization Science, INFORMS, vol. 23(1), pages 155-176, February.
    19. McCarthy, Daniel J. & Puffer, Sheila M., 2003. "Corporate governance in Russia: a framework for analysis," Journal of World Business, Elsevier, vol. 38(4), pages 397-415, November.
    20. Iwasaki, Ichiro & 岩﨑, 一郎 & イワサキ, イチロウ, 2012. "Global Financial Crisis, Corporate Governance, and Firm Survival: The Case of Russia," RRC Working Paper Series 37, Russian Research Center, Institute of Economic Research, Hitotsubashi University.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:pocoec:v:22:y:2010:i:2:p:129-140. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CPCE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.