Most of collusion participants have incentives to commit to collusion because of their high estimations of future profits. However Leniency Program can affect incentives of collusion participants through the analysis of market structure changes. The analyses of Leniency Program effects on stability and duration of collusions increases the efficiency both the work of the antimonopoly authority and the antimonopoly policy in general.
The described method in the article estimated the impact of Leniency Program on the behavior of market participants based on Russian data on detected collusions and their characteristics in 2004 – 2011.
Rule of full immunity for every application, introduced by 2007 edition of Leniency Program in Russia, supports incentives to commit to collusion, instead of refraining from illegal price fixing or market sharing. But the edition of Leniency Program that has been in place since 2009, in contrast, enhances profitability of deviation from collusion, making collusions unstable. The improved version of Leniency Program in 2009 had an impact on collusion participants which can be corresponded to high sanctions in spite of the actual sanctions had been low. So even in highly imperfect jurisdiction where the fight with collusions is weak, Leniency Program can have independent significant and can present as an effective tool.
The article considers the processes of progress in production and service sectors and answers the question how and thanks to what service sector of Russian economy left the productive one behind (concerning contribution in GDP of our country). The rates of development of service sector turned out to be so high firstly - as a reason of peculiarities of new Russian economy, which historically was built on the market principles and was developing in conditions of investment resources deficit, secondly - as a reason of system differences between «physical» goods and services as an object of sale. Nowadays Russia faces an unusual symbiosis: effective service companies, operating in hard competitive sphere with average profitability and non-affective from the point of management industrial companies, which thanks to monopolistic pricing have great profitability, providing profits of Russian budget and determining a macroeconomic situation.
The article is dedicated to the analysis of foreign market entry modes. The main goal of the research is to develop a theoretical and methodological approaches that help companies in making effective strategic decisions on internationalization of their business. The research is based on the analysis of the Dunning FDI Theory that is expanded to other possible types of foreign market entry modes.
This paper is devoted to the analysis of mergers and acquisitions in Russia. Using the statistical and econometric methods the estimation of macroeconomic and industry factors influence on the intensity of mergers and acquisitions processes by sectors of Russian industry is carried out. As a result the relationship between the activity of the redistribution process of the corporate control rights and some industry characteristics such as an involvement into the foreign trade, the relative industry size, the concentration of production is revealed.
Deficiencies of the neoclassical interpretation of the firm and dissatisfaction with economists neoclassical approach to understanding the nature of the firm in the market environment led to the appearance and development of the institutional firm concepts associated with such names as Coase, Williamson, Simons, Craps, Alchian, Demsetz, Hart, Holmstrom, Jensen, Milgrom, Meckling, Baker, Gibbons, Murphy and others.
The Ronald Coase article named «The nature of the firm» and published in 1937, is constantly in the spotlight a growing number of economists who study the essence of the company in various aspects. It became the basis for the emergence in the 80s transactional theory and the theory of incomplete contracts, long enough to study identifies the key trends of the firm. That in turn led to an increase in the number of theoretical approaches that can be considered as a complement or replacement depending on which question they try to answer.
In this article, in view of the existence of a fairly extensive number of works that were under the influence of the two main approaches to the theory of the firm, as well as the widespread discussion it seems reasonable to focus on the emergence of a completely new concept of the firm over the past twenty years.
This article is devoted to some aspects of antitrust law influence on economical processes. Considered problems are interconnection antitrust regulation and innovation activity, applicability of antitrust law terms and applicability of geographic market for retail markets.
Bidding competitions organized to identify the winner that gains the right to conclude a concession agreement are one of the forms of competition for the best market share and are the most important stage of a concession project-related organizational process development. The experience gained in different countries of the world of organizing the concession bidding competitions in various infrastructure-related sectors (power supply, water supply, transportation services, etc.) is large but the experience has shown that the competition result is not always justified as the inadequate criteria are used when choosing the winner. The article author shows the reasons why the state officials choose the maximal concession payment as the only criterion that can identify the best concession competition bidder.
The article is devoted to the ex-post evaluation of the merger approval and the remedy development by Russian competition authority — the Federal Antimonopoly Service (FAS) — using the results of interviews and a sample survey. The analyses and the decisions made by the FAS in several large merger deals completed in 2006–2008 are assessed. The authors explain the comparative advantages of different methods to assess the effects of the public policy employed in Russia, as well as alternative approaches for the evaluation of the effects of the mergers. The data of interviews and sample surveys allow to reject the hypothesis on the restriction of the competition as a result of the merger deals. At the same time the experts are skeptical towards the conditions in the merger remedies and their impact on the market competition.
The article is dedicated to the Russian inter-regional competition intensity assessments. The wheat market is examined to check the unified price-setting hypothesis. The empirical data shows that the Russian grain market cannot be called harmonized as there are barriers that hamper the price gap-bridging process in the regions. The article demonstrates how the regional month-to-month price change data, transportation cost data and the interregional trade volume change data can be used to identify the trends emerged in the Russian national market development and the factors that influence the trend building process.