Reflexive governance of import substitution mechanism in clusters

The article considers reflexive governance of import substitution mechanism in clusters.Specifics of import substitution in clusters have been revealed.It is assumed that effective use of reflexive governance will allow one to optimize the interaction of economic entities in a region on the basis of the allocating a priority economic cluster which will lead to an increase in the social and economic efficiency of the regions of Russia and will help to bridge the gap between the development of regions.Commodity Distribution and Wholesale Market Situation Research Institute for the Study of in the Market.peer-reviewe

New firm performance and territorial driving forces

The article analyses recent approaches on entry and post-entry performance by new firms, with particular focus on its applicability to small manufacturing firms recently borned in Argentina. The analysis is based on a sample of small firms created in the period 1990-2000 in three intermediate cities in Buenos Aires province (Argentina) in manufacturing sector. The survey collected data about microeconomic and mesoeconomic elements influencing firm performance. Results indicate that tradability is a key factor influencing firm performance. New firms entering markets where the spatial markets are reduced face limited perspectives on expansion. In turn, tradability is also affected by entrepeneurial motivation and, especially in underveloped regions, macroeconomic variables.new firms, post-entry performance, transability

New firm performance and territorial driving forces.

We study post entry performance of manufactuirng firms in 3 municipalities of Buenos Aires province, borned between 1990 and 1999. The aim of the paper is to identify main factors explaining firm growth. The focus is directed to endogenous determinants of firm performance, individual or local as well, taking into account the growing interest those elements are receiving in recent literature about local development. The results show that firm tradability grade is the key variable explaining performance. This factor is strongly influenced by entrepreneur´s profile but also by macroeconomic context.local development, new firms, firm performance, tradability

Russia’s Chemical and Petrochemical Industries at the Eve of WTO-Accession

Although Russia’s WTO-accession is foreseeable, there are still deficits in the literature on its concrete effects on the sectoral and regional levels. In this paper we analyse effects on Russia’s chemical and petrochemical sectors (CPS), which are, unlike for example its oil and mineral gas industry, rarely in the focus of public attention. On the basis of an extensive examination of these sectors’ current condition, we expect serious problems for them to emerge in the nearer future, the perhaps most serious and most puzzling problem being under-investment. Our analysis is based on data provided by GOSKOM-STAT/ROSSTAT, Russia’s official statistics institute. The authors like to thank Henning P. Jørgensen for valuable comments on an ear-lier version of the paper.Russia, chemical and petrochemical industries, WTO

Enterprise Restructuring in Belarus

We explore the impact of privatization and the entry of new firms on enterprise performance in Belarus, a transition economy in which reform and market-orientated institutional development has been limited. We hypothesize that private ownership will enhance company performance, measured in a variety of ways including profitability and capacity to export to the West, and that newly created firms will perform better than state-owned ones. Our work is based on a large enterprise level survey which includes state-owned firms, privatized companies and newly created enterprises. The data refute both hypotheses. We conclude that this is probably because the institutional environment has not evolved sufficiently from the socialist era to permit free competition and effective governance by new owners.http://deepblue.lib.umich.edu/bitstream/2027.42/57203/1/wp823 .pd

Lawless Privatization?

This paper provides an historical analysis of the four privatization stages of the Russian economy covering the period 1986-2005 with particular attention to the initial period of private capital formation. We use data from the World Bank, the Russian Accounting Chamber and other publicly available sources to reveal how government policy - or lack of it - led to the emergence of privately owned companies, including enforcement agencies for property right protection with business-criminal relationships. Our analysis shows that the ultimate effect of privatization has been the transfer of ownership from the state to a few industry-based monopolistic structures with highly concentrated capital and unstable governance. Analyzed within the framework of new institutional economics, this paper provides a foundation for ongoing research on current Russian corporate ownership structures, capital formation and financial market development

Russia's chemical and petrochemical industries at the eve of WTO-Accession

Although Russia's WTO-accession is foreseeable, there are still deficits in the literature on its concrete effects on the sectoral and regional levels. In this paper we analyse effects on Russia's chemical and petrochemical sectors (CPS), which are, unlike for example its oil and mineral gas industry, rarely in the focus of public attention. On the basis of an extensive examination of these sectors'current condition, we expect serious problems for them to emerge in the nearer future, the perhaps most serious and most puzzling problem being underinvestment. Our analysis is based on data provided by GOSKOMSTAT/ROSSTAT, Russia's official statistics institute

Internationalisation of SMEs:a micro-economic approach

Internationalisation can be crucial to the long-term success of small- to mediumsized businesses, especially since they are expected to show international growth at an early stage. Our research explores whether firms using an opportunistic portfolio approach are more successful in their efforts to internationalise than are firms using the stage and network approaches. Our research may be characterized as a multi-company longitudinal clinical case study using triangulation to analyse data. The sample consists of six Nordic business-to-business, high-technology firms with sales of €100,000 to €10 million. Four of the six firms had significant revenue from the food industry, petrochemicals, pharmaceuticals, bulk and speciality chemicals and the pulp and paper industry. The results indicate that the opportunistic portfolio model provides some explanation of how firms can internationalise successfully

Enterprise Restructuring in Belarus

We explore the impact of privatization and the entry of new firms on enterprise performance in Belarus, a transition economy in which reform and market-orientated institutional development has been limited. We hypothesize that private ownership will enhance company performance, measured in a variety of ways including profitability and capacity to export to the West, and that newly created firms will perform better than state-owned ones. Our work is based on a large enterprise level survey which includes state-owned firms, privatized companies and newly created enterprises. The data refute both hypotheses. We conclude that this is probably because the institutional environment has not evolved sufficiently from the socialist era to permit free competition and effective governance by new owners.Enterprise restructuring, privatization, transition, Belarus

Old and new Italian multinational firms

After a quick profile of Italian foreign direct investments since 1900 and a short review of the main explanations of the lagged multinational growth by Italian manufacturing companies, a quick glimpse of business histories is given to the only two still today living "old protagonists" (Pirelli, Fiat) and to three old corporate groups (Olivetti, SNIA Viscosa, Montecatini-Montedison) who had also reached a significant degree of full internationalization early in the XX century, but during the second postwar period underwent profound dismantling of their original business mission. Finally the paper focuses on few cases of "new protagonists", mid-size family companies who undertook a true multinational strategy only in the most recent decades and today represent the core of the Italian "fourth capitalism".Italian industry-multinational companies