The study presents the results of a survey of Russia's executives on their perceptions of the environment, strategies, and organizational climate of their companies and their own leadership style in two time periods: 2010–2012 and 2013–2014. We reveal the dynamics of fit among the environment, strategy, leadership, and organizational climate. The results suggest that Russian executives’ inability to delegate authority obstructs the proper realization of strategies better suited to turbulent business environments. Thereby, we may anticipate that Russian enterprises’ adaptation to new (post-sanctions) business realities will be slow and incomplete; misfits in organizational design will restrain the repertoire and impede the implementation of effective and efficient rescue measures.
Our paper offers analysis of tendencies and determinants of development of local currency corporate bond markets in the period from 2006 to 2015. We consider a wide range of macroeconomic and institutional factors for 15 bond markets. The sample consists of 600 country-quarter observations. Multifactor linear regression models and the generalized method of moments are applied for the balanced panel data. Our analyses reveals that inflation and its stability, exchange rate, and market capitalization have a significant influence on the share of local currency bonds. Financial and macroeconomic instability stimulates the growth of local currency bond markets.
This paper presents the results of a survey of executives of Russian manufacturing subsidiaries of Western multinational corporations (MNCs) regarding their relationship with parents and sister-subsidiaries. Manufacturing subsidiaries are dependent on parents to finance development projects. Accordingly, the subsidiary receives intensive support from the parent for all stages of implementation of such projects. Further, the intensity of cooperation with sister-subsidiaries strongly coincides with the intensity of support from the parent. However, a high intensity of cooperation with sister-subsidiaries was observed only for subsidiaries established before 2009. Finally, several practical implications for new entrants into the Russian manufacturing industry are presented.
This article explores the influence of top management team (TMT) characteristics on the performance of banks in Russia. Empirical research is based on both primary and secondary data of 178 banks. The study contributes to advancing research on upper echelon theory. The study’s results suggest that some top management characteristics have positive influence on the performance of banks, while others either negative or neutral. It was proven that percentage of Ph.D. holders in TMT and heterogeneity of functional expertise positively influence financial results of banks. In addition, CEO duality and gender heterogeneity have a negative effect on financial results of banks in Russia. Other TMT characteristics have no influence on banks performance (ROA, ROE and ROI).