The Russian corporation: patterns of behaviour during the crisis

Andrei Yakovlev (y_andrei@mail.ru), Yuri Simachev and Yuri Danilov

Post-Communist Economies, 2010, vol. 22, issue 2, 129-140

Abstract: This article considers the behaviour patterns of Russian firms before and during the financial crisis of 2008-09. To facilitate comparison, we define three main groups of actors at the firm level in the Russian economy - large, politically connected companies; medium-size firms that expanded in the 2000s with the help of administrative support, and successful medium-size firms driven by market factors. Many of the large companies practised highly risky financial policies and experienced a decrease in efficiency before the crisis, and the managers and owners of some Russian firms 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 firms driven by market factors.

Date: 2010
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DOI: 10.1080/14631371003740555

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