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Ownership Structures

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  • J Earle
  • S Estrin
  • L Leshchenko

Abstract

In this paper, we analyse the effects of the massive Russian privatisation programme on the ownership of Russian firms and on the behaviour of formerly state owned enterprises. A large random sample of Russian firms is used to investigate the emerging ownership structures, patterns of control and enterprise behaviour. We find that workers have become the dominant owners in a majority ig Russian private firms; 65% of the total as against 19% being manager owned and 16% of being outsider owned. Higher- ownership appears to confer significantly more influence over decision-making on managers and outsiders, but not on workers. Most importantly however, we find no evidence that privatisation affects any major area of enterprise behaviour or performance.

Suggested Citation

  • J Earle & S Estrin & L Leshchenko, 1996. "Ownership Structures," CEP Discussion Papers dp0315, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepdps:dp0315
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    References listed on IDEAS

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    5. M Belka & S Estrin & M Schaffer & I.J. Singh, 1995. "Enterprise Adjustment in Poland: Evidence from a Survey of 200 Private," CEP Discussion Papers dp0233, Centre for Economic Performance, LSE.
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