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Of all publications in the section: 52
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Working paper
Gurkov I. B. Management. MAN. Высшая школа экономики, 2014. No. WP BRP 28/MAN/2014.
The paper reports the results of a survey of top executives of Russian manufacturing subsidiaries of multinational corporations (MNCs). We reveal the prevailing types of job contracts and the use of monetary and non-monetary benefits, and find the similarities with and differences from such arrangements in locally owned industrial companies. We also reveal the differences in human resource management (HRM) policies based on the source of authority over HRM issues (global headquarters, regional headquarters, local groups of companies, etc.). The findings assist in predicting the possible evolution of HRM policies in Russian manufacturing subsidiaries of MNCs during the anticipated period of economic recession in Russia.
Added: Nov 25, 2014
Working paper
Pokryshevskaya E. B., Antipov E. A. Management. MAN. Высшая школа экономики, 2013. No. WP BRP 08/MAN/2013.
We demonstrate how publicly available ratings of Internet stores can be used to perform actionable importance-performance analysis (IPA). We use a panel of 422 non-food online merchants, which allows us to account for store-specific effects, and therefore obtain better estimates of each attribute’s influence on purchase intention. Our approach is economical, as merchants do not have to spend money on surveys that firms typically have to conduct for IPA. We have enhanced traditional importance-performance analysis by deriving attribute importance indirectly using the Shapley Value decomposition of a first-difference regression’s R2. We have also modified the standard “importance-performance” graph by adding the information about the directions of changes in attribute ratings between the two periods, which made it easier to point out strategic mistakes. We demonstrate the diagnostic power of our approach by doing the actual importance-performance analysis for two of the stores. The potential of enhancing the expert system using other methods and other types of publicly available data is discussed.
Added: May 15, 2013
Working paper
Ignatov D. I., Nikolenko S. I., Abaev T. et al. Management. MAN. Высшая школа экономики, 2014. No. 31.
We present a new recommender system developed for the Russian interactive radio network FMhost. The system aims to improve the quality of this service; it is designed specifically to deal with small datasets, overcoming the shortage of data on observed user behavior. The underlying model combines a collaborative user-based approach with information from tags of listened tracks in order to match user and radio station profiles. It follows an adaptive online learning strategy based on both user history and implicit feedback. We compare the proposed algorithms with industry standard methods based on Singular Value Decomposition (SVD) in terms of precision, recall, and Normalized Discounted Cumulative Gain (NDCG) measures; experiments show that in our case the fusion-based approach produces the best results.
Added: Dec 24, 2014
Working paper
Gurkov I. B., Filippov S. Management. MAN. Высшая школа экономики, 2013. No. WP BRP 07/MAN/2013.
Subsidiaries of foreign multinational companies are essential part of the modern Russian economy. In many sectors, they enjoy dominant positions. Innovation is an important driver and determinant of this dominance. Yet, little research has been done on innovation strategies and innovation processes in foreign subsidiaries in Russia. The paper aims to fill this gap. On the basis of qualitative evidence, it explores the goals, patterns and challenges of innovation activities in Russian subsidiaries. Our findings suggest that that manufacturing subsidiaries have implemented numerous effective innovation routines that are an integral part of daily ‘routine’ management. This is driven by the two-faceted objective – to achieve global quality standards and low production costs.
Added: Apr 3, 2013
Working paper
Igor Gurkov, Filippov S. Management. MAN. Высшая школа экономики, 2013. No. WP BRP 11/MAN/2013.
The extant literature acknowledges the role of overseas subsidiaries in the growth and development of multinational companies (MNCs). Such subsidiaries are viewed as critical players in the innovation process at MNCs. Although this topic has gained importance, it remains largely under-researched in the Russian context. This study aims to fill this gap by examining the dynamics of the innovation process in Russian-based subsidiaries of global MNCs. It seeks to explore and understand motivation and drivers of innovation, key participants, and impact and outcomes of innovation, with a specific reference to the peculiarities of the Russian institutional environment. We present qualitative findings from several case studies of Russian manufacturing subsidiaries of foreign MNCs, which indicate that Russian subsidiaries are not only recipients of knowledge and technology developed elsewhere in the MNCs, but are active developers of innovative products and solutions that are later applied in other units of the respective MNCs.  
Added: Jul 4, 2013
Working paper
Lopez Iturriaga F. J., López-Millán E. Management. MAN. Высшая школа экономики, 2015. No. WP BRP 36/MAN/2015.
We combine agency theory with the law and finance approach to analyze how the legal protection of investors and the corporate ownership structure affect the corporate investment in research and development (R&D). We use information from 1,091 firms from the five most R&D intensive industries in 19 developed countries. Our results show that the better protection of investors’ rights by the institutional environment has a positive influence on corporate R&D. We also find that corporate ownership concentration works as a substitute for legal protection. This finding means that the R&D investment of the firms in the countries with poor legal protection increases as long as the ownership becomes more concentrated. Our results also show that the identity of shareholders has a relevant effect: Whereas banks and nonfinancial institutions as shareholders result in lower R&D, institutional investors as shareholders increase the corporate investment in R&D
Added: Apr 28, 2015
Working paper
Shakina E. A., Barajas A. Management. MAN. Высшая школа экономики, 2014. No. WP BRP 22/MAN/2014.
This study explores corporate strategies regarding intangibles. We argue that companies consciously or unconsciously follow particular investment strategies in intangibles by allocating resources among intangible assets. The key contribution of our research is a new way to classify companies according to intangibles employed. The research question is if intangible-intensive profile exists. For the purpose of our each profile is identified on the intersection of the relevant theory of intellectual capital and empirical investigation. The intellectual capital concept enables elaboration of the framework of each company’s profile. The empirical analysis provides us with the clusters matched with the theoretical framework. The database consists of about 1700 listed European companies observed from 2004 till 2011. The database includes figures from annual statistics and financial reports. The information about intangibles was collected from publicly available sources like company websites, patent and information bureaus, and rating agencies. As a result more than 20 indicators are involved in the analysis. K-means clustering allows us distinguishing four major profiles of intangible-intensive companies. The empirical analysis allows identification of three profiles of companies: two of them (innovative and conservative) represent intangible intensive strategy. The third profile that doesn’t have clear priorities in intangibles was called in this study moderate (low) and was used as a benchmark to examine if intangible-intensive profiles enable better performance.
Added: Oct 16, 2014
Working paper
Paklina S., Molodchik M., Fernandez-Jardon Fernandez C. M. Management. MAN. Высшая школа экономики, 2017. No. 57.
This paper explores strategic behavior of Russian companies with regard to intangible resources and its link to different types of performance. Additionally, the study addresses the question, whether companies in intangible-intensive profiles have specific characteristics in terms of industry, size, company age and type of ownership. Following intellectual capital view, the study provides a cluster analysis considering four attributes: human resources, innovative capabilities, information and communications technology (ICT) capabilities and relational capital. Analysis of more than 1,000 Russian public companies over the period 2004-2014 reveals three profiles of strategic behavior considering the employment of intellectual resources. The majority of Russian public companies (60%) follow the non-intensive intangible strategy. Only 13% of companies constitute the intangible-intensive profile having endowment of all intellectual resources higher than the sample average. The rest 27% of companies also persuade the intangible-intensive strategy with the focus on innovative capabilities.
Added: Jan 29, 2018
Working paper
Daviy A., Rebiazina V. A. Management. MAN. Высшая школа экономики, 2015. No. WP BRP 40/MAN/2015.
The evolution of e-commerce positively affects the development of business in different areas, especially in developing countries. Also the development of e-commerce assists in creating new business models that are in certain cases results of overcoming existing barriers of the e-commerce market. However, there is little research on e-commerce market development and it hinders our understanding of the e-commerce market potential. The internet audience in Russia is 66.5 million people – the largest online audience in Europe. The main objective of this paper is to analyze the barriers and drivers for e-commerce market development in Russia. It gives an overview of the current Russian internet market development and trends. To identify the obstacles to and opportunities for the Russian e-commerce market, 25 in-depth interviews with representatives of Russian internet businesses were conducted. The empirical research reveals that the most significant barriers for the Russian market are barriers concerning market, infrastructure, and institutional issues. 
Added: Sep 12, 2015
Working paper
Gurkov I. B., Kossov V. V., Filippov S. Management. MAN. Высшая школа экономики, 2013
This paper analyzes the growth and evolution of Knauf CIS Group from 1992 to 2012. The study defines the features and characteristics of the firm’s corporate policies including production and operations, marketing, HR management, and societal engagement. These policies have enabled Russian industrial enterprises, Knauf’s subsidiaries, to achieve global standards of efficiency and quality with a high level of profitability. This study focuses on the measures that can be employed to increase production efficiency and have the potential to be replicated by other Russian companies.  
Added: Nov 1, 2013
Working paper
Yakovleva A. Y. Management. MAN. Высшая школа экономики, 2014. No. WP BRP 24/MAN/2014.
Project Management offers a variety of methodologies which provides managers with different techniques and tools to use during project planning and implementation. At the same time there is a substantial lack of systematized approaches to the management of innovation projects. In this article key factors in the selection of appropriate techniques in innovation project management will first be identified. Theoretical analysis of different project management standards and possibility of their use will then be discussed. In addition how the techniques can be applied will be investigated through academic paper analysis. . This research makes a theoretical contribution to the field of project management by selecting and determining which project management techniques can be adapted and applied to innovation projects. Recommendations for practical application are based on theoretical findings of the research. These include two main factors, which are: influencing the choice of project management techniques and the structure of project selection process. The significance of the results obtained is confirmed by creation of theoretical knowledge, which permits to thoroughly understand and capture issues which may emerge during innovation project planning and implementation, through the use of established project management methodology.
Added: Oct 22, 2014
Working paper
Gurkov I. B. Management. MAN. Высшая школа экономики, 2016. No. 50.
Oriflame CIS, a regional subsidiary of a Swedish beauty and cosmetics company operating in the countries of the former Soviet Union, generated 43 percent of global sales and 62.2 percent of operating profits for the parent company in 2014—despite the fact that markets in Russia and Ukraine were stagnant or declining. Using an attractive remuneration scheme, Oriflame CIS was able to profit from its position as a latecomer to the localization of manufacturing by attracting managers with experience and skills gained from working with the manufacturing arms of other foreign multinationals in Russia. In addition, the firm was also able to enhance links with customers by localizing the process of designing the company’s product catalogues. In significantly expanding its mandate, Oriflame CIS was able to overcome the challenges arising from a volatile market, to increase robustness and to maintain profitability of operations.
Added: Feb 1, 2016
Working paper
Dolmatov I. A., Dvorkin V. V., Maskaev I. V. Management. MAN. Высшая школа экономики, 2015
The activities of the water companies in Russia are regulated in order to overcome market failures caused by regional monopolization, information asymmetries and the need to find a balance between the interests of consumers and company objectives for its normal functioning and development. In the Russian Federation, the regulator uses the outdated and inefficient cost method, which deprives the company an incentive to reduce their own costs. However, Russian regulator is in active discussion about the transition to modern long-term management regulation practices in order to increase companies’ efficiency, which in the framework of the regulation defines the future of the company's profits. Russian regulator should take more active steps to encourage regulated companies to increase efficiency and productivity. Solution is to move to using benchmarking, which allows to identify sources of companies’ inefficiency to assess the validity of the established tariffs. This study presents the first attempt to implement benchmarking methods used by the world's leading regulators to determine the cost efficiency of companies and improve their potential. The authors tested a parametric (COLS) and non-parametric (DEA) methods to assess the performance of companies with different technical and economic characteristics more accurately. The study makes a number of recommendations for the specification of the model, assessing its sensitivity to the changes in samples. The authors concluded that the model based on COLS is of high quality and resistance to changing of sample while assessing the technical efficiency. However, a similar statement for DEA models is unfair, since the inclusion in the analysis of either too large or too small companies does not lead to plausible results. On the other hand, DEA allowed to assess not only the technical efficiency of companies but also the allocative one. In general, the authors have shown that the potential for increasing the efficiency of Russian water supply companies is large enough, and the regulator is necessary to accelerate the transition to incentive regulation in order to increase efficiency in the sector.
Added: Oct 30, 2015
Working paper
Kossov V. V. Management. MAN. Высшая школа экономики, 2015. No. WP BRP 46/MAN/2015 .
The forecast of commodity prices for the upcoming years yields two different prices: one for the producer (seller) and another for the consumer (buyer). Usually, an imperfect market gap between these two prices is not accidental. Strong differences between the views of buyers and sellers are analogous to a dialogue between the deaf and the blind. Thus, a third party, such as the government, is required in order to facilitate communication between the two parties.
Added: Dec 22, 2015
Working paper
Gogoleva A., Sorokin P. S., Efendiev A. Management. MAN. Высшая школа экономики, 2014. No. 23.
The main goal of the present paper is to conduct theoretical and methodological analysis of the current state of the art in the field of QWL studies and to outline perspectives for the future research of the QWL in managerial and organizational research. 716 publications listed in the Web of Science utilizing the QWL concept were selected at the initial stage and 420 papers were included in the final set of publications for analysis. The literature examination revealed the absence of the clear and concrete definition of QWL, various (and often incomplete) approaches to QWL content and indicators, interference of QWL with other concepts like job satisfaction which all resulted in general confusion in academic discussions about the notion. We argue that it is necessary to elaborate a new model for QWL assessment which would combine subjective and objective measures in the context of the general framework of needs satisfaction approach. We hope to contribute to the current discussions by suggesting our own version of classification of employee needs in the QWL framework elaborated basing on previous research by other authors.
Added: Oct 22, 2014
Working paper
Rozhkov K. L. Management. MAN. Высшая школа экономики, 2012. No. 06.
The paper shows relationships between level of residential satisfaction and form of differentiation of marketing policy in place market segments. A combination of three criteria of place attractiveness (retention and attraction, conditions for natural growth, and settling) was chosen to classify place market segments, and distribution of residents by the level of satisfaction as a result of specific place marketing policy for all the segments were hypothesized. The results of the empirical study partially confirm developed theoretical typologies. The paper also demonstrates, that driver forces of the place marketing differentiation are related to both current activities of place marketers and external factors. Using the results of the study, it becomes possible to choose a relevant form of differentiation of place marketing policy and interpret its results adequately.
Added: Mar 24, 2013
Working paper
Gurkov I. B. Management. MAN. Высшая школа экономики, 2015. No. 37.
The paper presents the results of a medium-size survey of executives of Russian manufacturing subsidiaries of Western multinational corporations on relationship with the parents and sister-subsidiaries. Manufacturing subsidiaries are completely dependent on parents in financing development projects. At the same time, when the subsidiary receives substantial financing for development projects from the parent, it also gets from the parent intensive support in all stages of implementation of such projects. Intensity of cooperation with sister-subsidiaries strongly coincides with the intensity of support by the parent. However, high intensity of cooperation with sister-subsidiaries was observed only for subsidiaries established before 2009. Several practical implications for new entrants into ownership of Russian industrial assets are presented.
Added: May 4, 2015
Working paper
Rozhkov K. L. Management. MAN. Высшая школа экономики, 2012. No. 02.
Inhabitants become the important target group of place marketing along with other place consumers. The problem of defining criteria for the attractiveness of places for different inhabitants and classification of factors is one of the most important for the marketing policies aimed at development of local communities. The paper shows that the combination of three criteria of place attractiveness (retention and attraction, conditions for external growth and settling) may be considered as the main characteristic of a place market segment that determines its distinctive attributes. Based on these criteria, the heuristic monothetic 3-dimensional typology of market segments and the hypothetic classification of distinctive characteristics of the Russian place market segments were developed. Combination of three demographic indicators (emigration, birth rate, difference of general birth rates and emigration of natives - in accordance with the criteria of place attractiveness) were selected to estimate the place consumers’ behavior in the segments. The results of the empirical study (survey of inhabitants of five Karelian towns) allows us to conclude that both tangible and “intangible” attributes of places can have an impact on the behavior of inhabitants as place consumers. This paper also shows that both those, and others, in turn, depend on market segments, which towns occupy. Study results are important for marketing analysis and marketing policy of Russian towns.
Added: Jul 25, 2012
Working paper
Solntsev S. Management. MAN. Высшая школа экономики, 2013. No. 10.
This paper presents an analysis of changes in senior management labor market in Russia during the 2000s. The original data consists of information on the appointments of 5771 senior managers in Russia from late 1999 until 2009. The study focuses on mobility between economic sectors, and managerial positions, human capital, including education and experience and the proportion of women and expats in the senior management market. We found that the Russian labor market of top-level managers can be described as a relatively closed market, where professional executives dominate. During the period of economic growth Russian companies preferred to hire outsiders partly due to the lack of appropriate internal candidates. The typical senior manager in Russia is a 30-40 years old man with a degree in economics, engineering, or science, who moves every 2-3 years to their next executive position. The most significant changes, noted during the crisis, were the increase of the firms’ demand for senior managers’ specific human capital and the decrease of demand for general human capital.
Added: Jun 27, 2013
Working paper
Libman A., Dolgopyatova T. G., Yakovlev A. A. Management. MAN. Высшая школа экономики, 2014. No. 29.
This paper investigates the role of boards in founder-managed firms with concentrated ownership in emerging markets. The existing literature suggests that this type of company, even if they decide to recruit high-profile individuals as directors, rarely empowers the boards in the corporate governance structure. The paper conducts a case study of AFK Sistema—a large Russian investment company which is controlled and managed by the founder. We observe that, contrary to expectations, in this company the founder empowered the board of directors at the same time focusing on recruiting independent (mainly foreign) directors to the board, in spite of the costs associated with this governance structure in the Russian context. Based on this case, we develop a theory of entrepreneurial boards where directors are expected to take the initiative in relations with both internal and external actors and where the empowerment of boards is necessary to provide them with proper motivation.
Added: Dec 26, 2014
Working paper
Shakina E. A., Barajas A. Management. MAN. Высшая школа экономики, 2014. No. WP BRP 17/MAN/2014.
This study investigates factors of corporate success over the crisis period of 2008-2009. We advocate the idea that investments in intangibles allow a company to be better off, even if the markets go down. The hypothesis put forward in this paper was tested on a sample of more than 300 companies which operate in developed and emerging European markets, and belong to traditional and innovative industries. The application of statistical tools showed a robust significant link between the companies’ investment decisions and their performance before and during the crisis. This study contributes to empirical corporate finance as it provides evidence that investment restriction is not the best response to an economic recession.
Added: Mar 17, 2014