Government directors and business–state relations in Russia
AbstractWe propose three ideal types of business–state relations in a transition economy and explore the impact of government directors on corporate boards for firm behavior. Using a unique dataset of joint-stock companies in Russia, we find that the presence of government directors on corporate boards is more consistent with a “collusion” ideal type of relations between firms and the state than with a managerial discipline or rent-extraction ideal type. The state sends directors to firms that both extract resources from the state, but that also provide important benefits and services to the state.
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Political Economy.
Volume (Year): 27 (2011)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/inca/505544
Politically connected firm; Government directorship; Business–state relationship; Corporate governance quality; Russia;
Find related papers by JEL classification:
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
- P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- P35 - Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance
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