Against the Wind – New Factories of Russian Manufacturing Subsidiaries of Western Multinational Corporations
Using a series of interviews with the heads of Russian subsidiaries of Western multinational corporations and a unique database registering the openings of their new manufacturing plants in Russia during 2014-2015, we trace the changing demography, geography, and economics of foreign direct investments in industrial assets in Russia. We demonstrate that foreign companies in general were capable of overcoming the adverse economic conditions of 2015 and were able to complete their projects of installation of new factories that were launched in 2012-2013. More importantly, economic sanctions caused accelerated completion of previously started industrial works. Such new and upgraded factories not only target current opportunities and market niches in consumer markets but also aim at exploring possibilities in core industrial markets, including mining equipment, transportation equipment, and other types of industrial equipment. We also highlight the emergence of a new type of industrial project known as “fenced field projects,” which are new manufacturing facilities within the existing industrial sites of successful Russian firms. This new type is particularly attractive for companies in the machine-building and chemical industries. Fenced field projects can be either wholly owned subsidiaries or joint ventures, but the main feature of such projects is the active use of the developed physical and business infrastructure of the “hosting” Russian company. We demonstrate not only the changes in the geographic distribution of foreign direct investments in Russia but also the impact on medium-sized industrial towns (200,000-400,000 inhabitants), the most frequent location for industrial projects by foreign multinationals.
The paper aims to investigate the process of establishing distribution network. The paper takes network paradigm as a main basis of investigation looking at the development of distribution networks in Russian chemical industry.
Modern capitalism favors values that undermine our face-to-face bonds with friends and family members. Focusing on the post-communist world, and comparing it to more 'developed' societies, this book reveals the mixed effects of capitalist culture on interpersonal relationships. While most observers blame the egoism and asocial behavior found in new free-market societies on their communist pasts, this work shows how relationships are also threatened by the profit orientations and personal ambition unleashed by economic development. Successful people in societies as diverse as China, Russia, and Eastern Germany adjust to the market economy at a social cost, relaxing their morals in order to obtain success and succumbing to increased material temptations to exploit relationships for their own financial and professional gain. The capitalist personality is internally troubled as a result of this "sellout," but these qualms subside as it devalues intimate qualitative bonds with others. This book also shows that post-communists are similarly individualized as people living in Western societies. Capitalism may indeed favor values of independence, creativity, and self-expressiveness, but it also rewards self-centeredness, consumerism, and the stripping down of morality. As is the case in the West, capitalist culture fosters an internally conflicted and self-centered personality in post-communist societies.
The Working Paper examines the peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank owners, investors, top managers and other insiders. The Anglo-American concept of corporate governance, based on agency theory and implying outside investors’ control over banks through stock market, is found to bear limited relevance. We suggest some ways of overcoming the gap between formal institutions of governance and the real life.
The main focus of this paper is the relation between the realisation of the right of the child to express his/her views and democracy in Russia. With this in view, I will study the interconnection between the right to express the views and the right to participate. Further, I will give an overview of the specifics of democracy in Russia, how they influence political participation, and what could be done to prevent the further infantilisation of citizens in Russia. Finally, I will explore traditional perceptions with regard to children’s participation in Russia and the legal framework and practice of the implementation of the child’s right to social and political participation.
We review the transition of the Russian banking sector focusing on the interplay between ownership change and institutional change. We find that the state's withdrawal from commercial banking has been inconsistent and limited in scope. To this day, core banks have yet to be privatized and the state has made a comeback as owner of the dominant market participants. We also look at the new institutions imported into Russia to regulate banking and finance, including rule of law, competition, deposit insurance, confidentiality, bankruptcy, and corporate governance. The unfortunate combination of this new institutional overlay and traditional local norms of behavior have brought Russia to an impasse - the banking sector's ownership structure hinders further advancement of market institutions. Indeed, we may now be witnessing is a retreat from the original market-based goals of transition.
UK corporate tax reform, corporate tax in Russia and tax relief system were considered and described in the article. Also it was made an attempt to apply UK experience of innovative activity encouragement through corporate tax regulation to Russian economy.
In this paper the public-private wage gap is estimated by means both of the OLS and the quantile regression, which will provide a more complex picture of the distribution of the public-private sector wage gap. The author finds the existence of significant public-private wage gap (about 30%) considering both observable and unobservable characteristics of workers and jobs. Using the decomposition based on quantile regression helps to answer the question about the nature of the wage differences. The author comes to the conclusion that the main reason for the gap is the institutional mechanisms of public sector wages in Russia. The analysis is based on the data from Russian Longitudinal Monitoring Survey (RLMS-HSE) 2000-2010.
In his article Vladimir Kantor explores the destiny of Russia intelligentsia within the context of cultural crisis that took place at the turn of XIX and XX centuries, analyzing the Vekhovs, a group of leading intellectuals who ran a collection of essays, titled "Vekhi", studying their relationship towards that Russian cultural phenomenon. To author, the intelligentsia is considered as a critical factor in the development of Russian history. Within a context of the struggle around the "Vekhi", by referring to famous philosophical and literature books, published in 1909, the author focuses on relationships between intelligentsia and ordinary people, their attractive and repulsive interaction, which represents the key theme of the Russian destiny. Any historical movement occurs through tragedy; heroes who move the history have to sacrifice themselves to provide that movement. Confirmation to that idea would be rejection and exclusion of the Russian intelligentsia from the country's mentality throughout a number of generations which ultimately led to its tragic being.
The author analyzes the most widely applied risk management standards in Russia, emphasizing the lack of a clear system for operational risk management. Reviewing the challenges emerging on European markets due to the introduction of the Solvency II directive, he suggests approaches to the solution of possible problems for Russian insurers.
портовый менеджмент, показатели деятельности, анализ эффективности, система учета, распределение издержек, методы анализа деятельности портовой системы
At present many industries reveal tendency for setting up of vertically integrated companies (VIC) the structure of which unites all technological processes. This tendency proved its efficiency in oil industry where coordination of all successive stages of technological process, namely, oil prospecting and production -oil transportation - oil processing - oil chemistry - oil products and oil chemicals marketing, is necessary. The article considers specific features of introduction of "personnel management" module at enterprises of oil and gas industry.
vertically integrated companies; personnel management