Using data from a large enterprise-level panel designed to address this issue, we account for enterprise performance in Russia. We link performance to four aspects of the economic environment: enterprise ownership; corporate governance; market structures and competition; and financial constraints. We conclude that private ownership and improved performance are not correlated, though restructuring is positively associated with the competitiveness of the market environment. These findings on private ownership support those of previous studies, e.g. Earle and Estrin (1997). Moreover, we find evidence that financially unconstrained firms are better in their undertaking of restructuring measures then financially constrained firms. Further analysis suggests that causality runs from restructuring to financial constraint, rather than the reverse. Finally, our findings indicate strong complementarities between the four factors influencing improved company performance, confirming the view that these factors need to be considered jointly.
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Length: 117 pages Date of creation: 01 Jun 2001 Date of revision: Handle: RePEc:wdi:papers:2002-452
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Haaparanta, Pertti & Juurikkala, Tuuli & Lazareva, Olga & Pirttilä, Jukka & Solanko, Laura & Zhuravskaya, Ekaterina, 2003.
"Firms and public service provision in Russia,"
BOFIT Discussion Papers
16/2003, Bank of Finland, Institute for Economies in Transition.
[Downloadable!]
Pertti Haaparanta & Tuuli Juurikkala & Olga Lazareva & Jukka Pirttila & Laura Solanko & Ekaterina Zhuravskaya, 2003.
"Firms And Public Service Provision In Russia,"
Working Papers
w0041, Center for Economic and Financial Research (CEFIR).
[Downloadable!]
Irina Denisova & Stanislav Kolenikov & Ksenia Yudaeva, 2000.
"Child Benefits and Child Poverty,"
Working Papers
w0006, Center for Economic and Financial Research (CEFIR).
[Downloadable!]
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