The subject of the study is large and middle-sized Russian companies, and firms in transition economies.
The purpose of the research is the analysis of Russian firms’ behavior and their internal organization, and its evolution under the influence of institutional transformation, changes to the business environment and specific features of Russian economic development (recovery growth, production expansion, financial crisis).
To prepare the report we used surveys of high level managers conducted in Russia and in other transition economies, official statistical data, and materials from international organizations. The empirical basis of the research is:
- 15 in-depth interviews with experts and members of boards of directors (conducted in 2012);
- Case-studies of three companies intended for the analysis of the closed type of Russian company behavior;
- Cross-country data of BEEPS implemented by the European Bank for Reconstruction and Development and the World Bank (http://www.ebrd.com/pages/research/economics/data/beeps.shtml ) : the data of 2009 on 12000 enterprises in 29 countries in Central and Eastern Europe, and Central Asia;
- The secondary usage of two monitoring rounds data (2005 and 2009) of enterprise competitiveness (there are nearly 1000 manufacturing enterprises and eight types of economic activities);
- We have characterized the evolution of approaches to the creation and implementation of industrial policy in Russia in 1992-2012 and revealed the key factors of the industrial policy model choice on different stages of development;
- We have found out that the closed type of company behavior is determined by the institutions' imperfection and particularly by government regulation, and weakness of property rights protection and competition support policy;
- We have demonstrated the evolution of approaches of property control by the government as a shareholder in the time of reforms in Russia;
- We have estimated the correlation between innovative firms’ behavior and the conditions of business environment and found out that innovators view administrative barriers as serious difficulties. When the company becomes innovative the corruption burden appears, but there are no differences between less or more innovative firms;
- We have defined the main economic and institutional factors of industrial companies’ investment activity in 2000: the key incentive is the replacement of depreciated manufacturing capacities. We have revealed the influence of financial resource access and the level of current financial efficiency on investment decisions;
- Better management quality and higher factor productivity are typical for Russian companies with foreign property, these firms are more efficient than domestic firms;
- The boards of directors in Russian companies with a high property concentration are not always formal: there are boards that are real, working boards. The level of concentration does not influence the board’s formality, its functions are determined by the position of the major shareholder;
- We have defined external (market, financial, communication) and internal (managerial, administrative and economic) effects of quality management system certification on enterprises from different countries for future empirical analysis of Russian data.