The Russian corporation: patterns of behaviour during the crisis
This article considers the behaviour patterns of Russian “rms before and during the “nancial crisis of 2008…09. To facilitate comparison, we de“ne three main groups of actors at the “rm level in the Russian economy … large, politically connected companies; medium-size “rms that expanded in the 2000s with the help of administrative support, and successful medium-size “rms driven by market factors. Many of the large companies practised highly risky “nancial policies and experienced a decrease in ef“ciency before the crisis, and the managers and owners of some Russian “rms have been engaging in opportunistic behaviour during the crisis; the forms and causes of this behaviour are analysed here. We conclude by proposing some policy implications with emphasis on supporting successful medium-size “rms driven by market factors.