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Impact of Business Integration on Corporate Restructuring and Performance

In: Organization and Development of Russian Business

Author

Listed:
  • Svetlana B. Avdasheva

    (State University — Higher School of Economics)

Abstract

The impact of business groups (BGs) on the restructuring and business performance of subsidiaries has been an important feature of studies of Russian companies. The characteristic of this impact provides answers to two questions. The first is why BGs formed during the past decade remain an important part of the Russian industry and why their share continues to grow. An effort should be made to explain the emergence of major diversified amalgamations in an unstable institutional environment, which should aggravate an agency problem and cause the group performance to deteriorate. The second question is threefold and involves the following: first, the role that BGs played in Russian corporate restructuring during the past decade; second, whether they contributed to the increase of competitiveness by corporate restructuring or enabled enterprises to survive without profound restructuring; and finally, in the case of the success of BG member enterprises, whether this success was due to enhanced competitiveness of the companies or support from the authorities.

Suggested Citation

  • Svetlana B. Avdasheva, 2009. "Impact of Business Integration on Corporate Restructuring and Performance," Palgrave Macmillan Books, in: Tatiana Dolgopyatova & Ichiro Iwasaki & Andrei A. Yakovlev (ed.), Organization and Development of Russian Business, chapter 9, pages 213-231, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24949-3_10
    DOI: 10.1057/9780230249493_10
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    References listed on IDEAS

    as
    1. Simon Clarke, 2004. "A very Soviet form of capitalism? The management of holding companies in Russia," Post-Communist Economies, Taylor & Francis Journals, vol. 16(4), pages 405-422.
    2. Andrei Shumilov & Natalya Volchkova, 2004. "Russian business groups: substitutes for missing institutions?," Working Papers w0050, New Economic School (NES).
    3. 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.
    4. Tatiana G. Dolgopyatova, 2009. "Stock Ownership and Corporate Control," Palgrave Macmillan Books, in: Tatiana Dolgopyatova & Ichiro Iwasaki & Andrei A. Yakovlev (ed.), Organization and Development of Russian Business, chapter 2, pages 39-61, Palgrave Macmillan.
    5. J. David Brown & John S. Earle & Almos Telegdy, 2006. "The Productivity Effects of Privatization: Longitudinal Estimates from Hungary, Romania, Russia, and Ukraine," Journal of Political Economy, University of Chicago Press, vol. 114(1), pages 61-99, February.
    6. Svetlana Avdasheva & Andrei Shastitko & Boris Kuznetsov, 2007. "Competition and Industrial Organisation in Transition Markets: What Can We Derive from Empirical Studies?," Post-Communist Economies, Taylor & Francis Journals, vol. 19(1), pages 17-33.
    7. Frye, Timothy, 2004. "Credible Commitment and Property Rights: Evidence from Russia," American Political Science Review, Cambridge University Press, vol. 98(3), pages 453-466, August.
    8. Clifford Gaddy & Barry W. Ickes, 1998. "To Restructure or Not to Restructure: Informal Activities and Enterprise Behavior in Transition," William Davidson Institute Working Papers Series 134, William Davidson Institute at the University of Michigan.
    9. J. David Brown & John S. Earle & Almos Telegdy, "undated". "The Productivity Effects of Privatization: Longitudnal Estimates for Hungary, romania, Russia, and Ukraine," Upjohn Working Papers jse20063, W.E. Upjohn Institute for Employment Research.
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    Cited by:

    1. 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.
    2. 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.

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