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Статья

Corporate governance cycles during transition: a comparison of Russia and Slovenia

Corporate ownership & control. 2006. No. vol. 3 iss. 4. P. 52-64.
Kapeliushnikov R., Mygind N., Demina N., Gregoric A.

The hypotheses on the development of the governance cycles in transition are tested upon a sample of Russian enterprise data for 1995-2003 and Slovenian data covering 1998-2003. We find that governance cycles are broadly similar in the two countries. Employee ownership is rapidly fading in both countries. While change to manager and non-financial domestic outsider ownership is typical for Russia, this is not the case in Slovenia. Instead, change to financial outsiders in the form of Privatization Investment Funds is more frequent.