IDEAS home Printed from https://ideas.repec.org/h/spr/csrchp/978-3-642-44955-0_7.html
   My bibliography  Save this book chapter

Corporate Form, Institutional Complementarity, and Organizational Behavior: Open versus Closed Joint-Stock Companies in Russia

In: Corporate Governance in Emerging Markets

Author

Listed:
  • Ichiro Iwasaki

    (Hitotsubashi University)

Abstract

The vast majority of Russian corporations are still compelled to become closed joint-stock companies that lack a modern fundraising mechanism in order to attract capital from a wide range of private investors. This is due to factors such as significant insider ownership, a strong orientation among managers toward closed organizations, slumping needs for corporate finance, and underdeveloped local financial institutions. The impact of ownership structure on the choice of corporate form exists, even if we assume that the two elements are determined endogenously. Under these circumstances, however, a significant number of closed companies attempt to develop more open internal organizational structures that are virtually the same as those of open companies. Nonetheless, an institutional coupling of a closed corporate form and an open internal organizational structure is far from effective in resolving the serious in-house problems facing Russian firms, such as the prevention of infighting among executives and shareholders and the implementation of discipline among top management.

Suggested Citation

  • Ichiro Iwasaki, 2014. "Corporate Form, Institutional Complementarity, and Organizational Behavior: Open versus Closed Joint-Stock Companies in Russia," CSR, Sustainability, Ethics & Governance, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Corporate Governance in Emerging Markets, edition 127, pages 157-195, Springer.
    • Handle: RePEc:spr:csrchp:978-3-642-44955-0_7
    DOI: 10.1007/978-3-642-44955-0_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

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


    Cited by:

    1. Iwasaki, Ichiro & Ma, Xinxin & Mizobata, Satoshi, 2020. "Corporate ownership and managerial turnover in China and Eastern Europe: A comparative meta-analysis," Journal of Economics and Business, Elsevier, vol. 111(C).

    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:spr:csrchp:978-3-642-44955-0_7. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.