Modeling Investment Alliances: Trends, Institutions, Roles

The article, based on the results of a study of current Russian economic, corporate management and judicial law enforcement practice, highlights various configurations of investment alliances regulated by the terms of corporate agreements that are in demand in large and moderately large businesses. The author draws the reader’s attention to the reference targets implemented in the operation of the corresponding models of such agreements of investors in the shares of joint-stock companies and shares in the authorized capital of limited liability companies, as well as on the management and legal tools for achieving these goals. The problem of modeling investment alliances in relation to the solution of long-, medium- and short-term goals and objectives of subjects of entrepreneurial practice requires the use of interdisciplinary analysis - research at the intersection of economics, management, management and law. The purpose of the article is to formulate the problem of modeling investment alliances, describe traditional models of investment alliances and reveal the institutions of modeling investment alliances that contribute to solving this problem. Among others, the authors analyze structures that effectively support the joint business practice of majority and minority shareholders, significant minority shareholders who consolidate corporate control with their help, activate the possibilities of corporate agreements concluded under Russian law for the implementation of mergers and acquisitions projects, as well as anti-raider protection of the target company. The author characterizes the traditional models of investment alliances: “Oath of Allegiance”, “Parity Formula”, “Presale Preparation”, “Speculative Agreement”, “Alliance of Minority Shareholders”, “Anti-Raider Coalition”. The author reveals the institutions of modeling an investment alliance: special rights of a participant, disproportionate powers, special rules of non-public companies, disproportionate contributions, and a corporate agreement. The author also emphasizes the diversity of the roles of participants in investment alliances, taken into account when solving the problem of modeling investment alliances.