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

This file is part of IDEAS, which uses RePEc data

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

Author Info

Iwasaki, Ichiro

Abstract

The vast majority of Russian corporations are still compelled to become closed joint-stock companies that lack a modern fundrising 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, such an institutional coupling of a closed corporate form and an open internal organizational structure is far from effective in resolving the imminent governance problems facing Russian corporations, such as the prevention of infighting among executives and shareholders and the implementation of discipline among top management.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by Russian Research Center, Institute of Economic Research, Hitotsubashi University in its series RRC Working Paper Series with number 3.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 30, [12] p.
Date of creation: Dec 2007
Date of revision:
Handle: RePEc:hit:rrcwps:3

Note: This paper presents a research outcome from a Japan-Russia joint research project entitled "Corporate Governance and Integration Processes in the Russian Economy" launched by the Institute of Economic Research, Hitotsubashi University, and the Institute for Industrial and Market Studies, State University - Higher School of Economics. The research was financially supported by the Japan Securities Scholarship Foundation (JSSF) and grants-in-aid for scientific research from the Ministry of Education and Science of Japan (Nos. 16530149 and 17203019) in FY2004-07.
Contact details of provider:
Postal: 2-1 Naka, Kunitachi City, Tokyo 186-8603
Phone: +81-42-580-8382
Fax: +81-42-580-8333
Email:
Web page: http://www.ier.hit-u.ac.jp/rrc/
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Koji OHTAGAKI).

Find related papers by JEL classification:
D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
K22 - Law and Economics - - Regulation and Business Law - - - Corporation and Securities Law
L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

Statistics
Access and download statistics

Did you know? RePEc and its associated services are free for contributors and users, and do not accept any advertising.

This page was last updated on 2009-12-2.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.