T. G. Dolgopyatova. Corporate Ownership and Control in Russian Companies in the Context of Integration
V.2, N2, 2004
The paper is devoted to the qualitative aspects of corporate control transformation in Russian companies in 2000s. Analysis is based on the in-depth interviews focused on corporate governance issues. The article presents short overview of studies of ownership redistribution and integration activities in the Russian economy. Using interviews results, composition of stock property and dominating models of corporate control in Russian joint-stock companies against the background of integration are found out. Their influence on corporate governance mechanisms is discussed. Special attention is paid to key issues of separation (non-separation) of corporate ownership and executive management. The paper shows that integration processes promote gradual separation of ownership and operational management, and emergence of demand for legitimate institutions used to exercise shareholders’ corporate control over the executive management.