Models of Corporate Control Emerging in the Russian Industry

Abstract

The article analyzes the state and trends in the development of property relations and corporate control in the Russian industry from the point of view of the processes of concentration of equity capital and its redistribution between internal and external owners. The analysis is based on the materials of a formalized survey and a series of in-depth interviews with managers of joint-stock companies conducted in 1999 by the HSE and the Bureau of economic analysis. It is shown that unequal conditions of access to the acquisition of equity capital contributed to the formation of various models of corporate control at enterprises of different sizes and industries.  Empirical data allowed us to identify these models and consider their advantages and disadvantages in the short and long term.