Senior management labor market: from economic growth to crisis. The case of Russia
This paper presents an analysis of changes in senior management labor market in Russia during the 2000s. The original data consists of information on the appointments of 5771 senior managers in Russia from late 1999 until 2009. The study focuses on mobility between economic sectors, and managerial positions, human capital, including education and experience and the proportion of women and expats in the senior management market. We found that the Russian labor market of top-level managers can be described as a relatively closed market, where professional executives dominate. During the period of economic growth Russian companies preferred to hire outsiders partly due to the lack of appropriate internal candidates. The typical senior manager in Russia is a 30-40 years old man with a degree in economics, engineering, or science, who moves every 2-3 years to their next executive position. The most significant changes, noted during the crisis, were the increase of the firms’ demand for senior managers’ specific human capital and the decrease of demand for general human capital.
|Date of creation:||2013|
|Date of revision:|
|Publication status:||Published in WP BRP Series: Management / MAN, June 2013, pages 1-31|
|Contact details of provider:|| Postal: |
Web page: http://www.hse.ru/Email:
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bell, Linda A., 2005. "Women-Led Firms and the Gender Gap in Top Executive Jobs," IZA Discussion Papers 1689, Institute for the Study of Labor (IZA).
- Kevin J. Murphy & Jan Zabojnik, 2006. "Managerial Capital and the Market for CEOs," Working Papers 1110, Queen's University, Department of Economics.
- Gilson, Stuart C., 1990. "Bankruptcy, boards, banks, and blockholders : Evidence on changes in corporate ownership and control when firms default," Journal of Financial Economics, Elsevier, vol. 27(2), pages 355-387, October.
- Kuznecovs, Mihails & Pal, Sarmistha, 2012.
"Does Corporate Governance Reform Necessarily Boost Firm Performance? Recent Evidence from Russia,"
IZA Discussion Papers
6519, Institute for the Study of Labor (IZA).
- Mihails Kuznecovs & Sarmistha Pal, 2011. "Does Corporate Governance Reform Necessarily Boost Firm Performance? Recent Evidence from Russia," CEDI Discussion Paper Series 11-06, Centre for Economic Development and Institutions(CEDI), Brunel University.
- Rüdiger FAHLENBRACH & René M. STULZ, .
"Bank CEO Incentives and the Credit Crisis,"
Swiss Finance Institute Research Paper Series
09-27, Swiss Finance Institute.
- Fahlenbach, Rudiger & Stulz, Rene M., 2009. "Bank CEO Incentives and the Credit Crisis," Working Paper Series 2009-13, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Rüdiger Fahlenbrach & René M. Stulz, 2009. "Bank CEO Incentives and the Credit Crisis," NBER Working Papers 15212, National Bureau of Economic Research, Inc.
- Kato, Takao & Long, Cheryl, 2006. "CEO turnover, firm performance, and enterprise reform in China: Evidence from micro data," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 796-817, December.
- Gibson, Michael S., 2003. "Is Corporate Governance Ineffective in Emerging Markets?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(01), pages 231-250, March.
- Andrei Rachinsky, 2005. "Self Enforced Mechanisms of Corporate Governance: Evidence from Managerial Turnover in Russia," Working Papers w0051, Center for Economic and Financial Research (CEFIR).
- Andrei Shleifer & Robert W. Vishny, 1996.
"A Survey of Corporate Governance,"
NBER Working Papers
5554, National Bureau of Economic Research, Inc.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Alexander Muravyev, 2003. "Turnover of Senior Managers in Russian Privatised Firms," Comparative Economic Studies, Palgrave Macmillan, vol. 45(2), pages 148-172, June.
- Andrei Yakovlev & Yuri Simachev & Yuri Danilov, 2010. "The Russian corporation: patterns of behaviour during the crisis," Post-Communist Economies, Taylor & Francis Journals, vol. 22(2), pages 129-140.
- Murphy, Kevin J., 1985. "Corporate performance and managerial remuneration : An empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 11-42, April.
- Farrell, Kathleen A. & Hersch, Philip L., 2005. "Additions to corporate boards: the effect of gender," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 85-106, March.
- Igor Gurkov, 2009. "Strategy process as formation and realization of corporate goals: The synthesis of surveys in Russian firms," Journal for East European Management Studies, Rainer Hampp Verlag, vol. 14(1), pages 48 - 64.
- Shetty, Y. K. & Peery, Newman Jr., 1976. "Are top executives transferable across companies?," Business Horizons, Elsevier, vol. 19(3), pages 23-28, June.
- Agrawal, Anup & Knoeber, Charles R. & Tsoulouhas, Theofanis, 2006.
"Are outsiders handicapped in CEO successions?,"
Journal of Corporate Finance,
Elsevier, vol. 12(3), pages 619-644, June.
- Bruce A. Blonigen & Rossitza B. Wooster, 2003.
"CEO Turnover and Foreign Market Participation,"
University of Oregon Economics Department Working Papers
2003-24, University of Oregon Economics Department, revised 01 Mar 2003.
- Kato, Takao & Long, Cheryl, 2006. "CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data," IZA Discussion Papers 1914, Institute for the Study of Labor (IZA).
- Marianne Bertrand & Sendhil Mullainathan, 2001. "Are Ceos Rewarded For Luck? The Ones Without Principals Are," The Quarterly Journal of Economics, MIT Press, vol. 116(3), pages 901-932, August.
- Olga Lazareva & Andrei Rachinsky & Sergey Stepanov, 2007. "A Survey of Corporate Governance in Russia," Working Papers w0103, Center for Economic and Financial Research (CEFIR).
- Elke Holst, 2005. "Women Managers: Enormous Deficit in Large Companies and Employer's Associations," Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 1(4), pages 57-67.
- Sergei Guriev & Olga Lazareva & Andrei Rachinsky & Sergei Tsukhlo, 2004. "Corporate Governance in Russian Industry," Problems of Economic Transition, M.E. Sharpe, Inc., vol. 47(3), pages 6-83, July.
When requesting a correction, please mention this item's handle: RePEc:hig:wpaper:10man2013. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamil Abdulaev)or (Victoria Elkina)
If references are entirely missing, you can add them using this form.