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Ownership structures, patterns of control and enterprise behavior in Russia

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  • Earle, John
  • Estrin, Saul
  • Leshchenko, Larisa

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

  • Earle, John & Estrin, Saul & Leshchenko, Larisa, 1996. "Ownership structures, patterns of control and enterprise behavior in Russia," LSE Research Online Documents on Economics 20642, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:20642
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    File URL: http://eprints.lse.ac.uk/20642/
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    References listed on IDEAS

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    1. Philippe Aghion & Olivier Jean Blanchard & Wendy Carlin, 1997. "The Economics of Enterprise Restructuring in Central and Eastern Europe," International Economic Association Series, in: John E. Roemer (ed.), Property Relations, Incentives and Welfare, chapter 11, pages 271-325, Palgrave Macmillan.
    2. Pinto, Brian & Belka, Marek & Krajewski, Stefan, 1993. "Transforming state enterprises in Poland : macroeconomic evidence on adjustment," Policy Research Working Paper Series 1101, The World Bank.
    3. Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766.
    4. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1997. "Privatizing Russia," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522284, December.
    5. Brian Pinto & Marek Belka & Stefan Krajewski, 1993. "Transforming State Enterprises in Poland: Evidence on Adjustment by Manufacturing Firms," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1), pages 213-270.
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    More about this item

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General

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