Public Procurement in Russia and its Connection to Company Performance

Student: Vartumyan Maxim

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2019

The aim of this work is to find relation between sum of government contracts, that firm has and its capital structure. The capital structure we measure as ratio of total liabilities divided by total assets. We also look at others factors, which can influence company’s leverage. We expected from literature, that relation between sum of government contracts and firm’s leverage should be positive, however in our analysis we get the result, that leverage of a company is unaffected by firm’s sum of government contracts. In this work we will consider several reasons of occurrence of such results.

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