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Working paper

Эмпирический анализ организации корпоративного контроля в российских компаниях

The paper analyzes concentration of stock ownership and finds out ways for organization of internal corporate control in Russian companies by dominating shareholders. A set of determinants for owners’ choice of hired top-managers vs. of managers-shareholders against the background of corporate integration is defined. Statistically significant factors based on binary logistic regression models are revealed. The study is based on the data of a survey of 822 top-managers of large and medium-sizes joint stock companies in industry and communications conducted in 2005 at 64 regions of Russia within the joint research project implementing by scholars from Hitotsubashi University (Japan) and State University – Higher School of Economics.