• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

The Effect of a Foreign Investor Presence on the Performance of Russian Fuel and Energy Enterprises

Student: Anikieieva Kateryna

Supervisor: Tatyana A. Ratnikova

Faculty: Faculty of Economic Sciences

Educational Programme: Strategic Corporate Finance (Master)

Year of Graduation: 2019

This study was conducted on the statistics of Russian companies of the oil refining complex for the period from 2008 to 2014 and the purpose of the analysis was to track the effect of the presence in the industry of foreign capital in the form of FDI. Previous studies on the influence of the presence of a foreign investor on the efficiency of firms were carried out for a variety of different sectors, which did not allow to take into account the specific specifics of Russian oil refining. Also, in previous papers, no attention was paid to the endogenous nature of FDI, which, as shown in this paper, can radically affect the results obtained. An important point in the methodology of this study is to subtract the influence of FDI from the effects of macro shocks in 2014 and its consequences on the efficiency of companies in the oil refining sector.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses