tailieunhanh - Organization and Development of Russian Business A Firm Level Analysis_10

Tham khảo tài liệu 'organization and development of russian business a firm level analysis_10', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 12 State-Business Relations and Improvement of Corporate Governance Andrei A. Yakovlev Introduction The corporate behavior of Russian firms has changed drastically in the last decade. In the beginning of this period many experts reported the failure of institutional reforms Stiglitz 1999 and many empirical studies confirmed this viewpoint. Therefore a detailed study by Brown et al. 2006 based on data from 24 000 enterprises over the 1992-2002 period established that while the Ukraine Romania and Idtihaiioenjoj ed m8 inProductivity on the average within a year of priyatizaiiom the affe . - - ptivatiza-tion in Russia was inyeoareeantte evan alter five years. Rutfian tornpanien systema ically treateO foteign ina t t ra wiih hosfirety tn d grossly violate d shareholders rights nndthaPussian government touin not pratect abu investors and sharehaldeft ay law tKrato atab n 00g . ha stornoyrif ot with Central and Eastern Ottope the inhanitantt nt Russiawaae morn cai of the outcome of privoeiztfionjmd wete nhdelp synPottive hi. thv revSsịnn of its results Denisovs et ai. nnoy . The nvoativeetpoiionce in Rmosia ie. to new conclusions ai rtì eimiạornmece 0 fda onviroyrnant and the inefficiency ot privyc ntefo cnndeo fwe okgnnernrnnnr exp ortd t o group interests Perotii 2000 - . Contrary to this -0 porno two pneaftai attndfbecema apparent in Russia durinn the 200tr rnt c3tetẼ _ị 7 ernahce obrUousih improved and he gooeenmen neinad cUong and rianifieantiv lmotetie d its presence in the economy Theo iirnd tenyd was exprrtead in eefmsai 0 bnoad introduction of international accounting standards in the initial public offering IPO of Russian y ad mtasnaiional taotk eaohangea tab in the more widespread practice of invitation of independent directors to the boards Puffer Mahat hy t00. i Ynkovtev n004t. Thifwas n ea ed by substantial growth in aaptahzatitn of tho Parian sSacy marlat-nnd trace 2006 by a Strang inflawaf fore - in tm0-. 284 State-Business Relations and Corporate .