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Platform companies: features of the business model and corporate governance

Natalia Polezhaeva
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Natalia Polezhaeva: RANEPA

Published Papers from Gaidar Institute for Economic Policy

Abstract: Digitalization of corporate activities in Russia and the world was of great importance, and until 2020 companies seeking to be competitive in hypercompetitive markets with rapidly changing customer needs, where possible, transferred their business to digital format in different volumes and speed. The rapid transmission of COVID-19 in 2020 gave an additional impetus to digitalize the economy in the wake of the forced social distancing and isolation. Technology companies and other companies that have been able to move their businesses online have stayed afloat, though often not without significant losses. Platform companies, thanks to their inherent speed and flexibility, have come to terms more easily than traditional corporations with the conditions of the pandemic. For example, Sber and Yandex, taking advantage of the current situation, expanded their digital ecosystems, but suffered some profit losses. Wildberries and Mail. ru on the contrary have significantly increased their incomes during the crisis. This viability of the platform business in extreme conditions makes it relevant to consider this mod in more detail.

Keywords: Russian economy; digital economy; corporate governance (search for similar items in EconPapers)
JEL-codes: M15 M16 O31 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-cis, nep-isf and nep-pay
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Handle: RePEc:gai:ppaper:ppaper-2021-1140