Concentration of Ownership in Russian Industry: Firm-Level Evolution

The paper describes dynamics of ownership concentration in Russian manufacturing, and factors of the dynamics against the background of economic growth of 2000s. The first signs of stock ownership de-concentration in some companies during 2005–2009 were revealed. Empirical analysis of determinants of changes in concentration was implemented. Significant positive factors of this decline are companies’ entry to securities markets, their work in competitive environment, and share of foreign investors. Negative influence of propensity to future investments and of the share of Russian owners was also found out. The study is based on the data of two rounds of monitoring of about 1000 large and medium-sized companies conducted by the Institute for Industrial and Market Studies from HSE in 2005 and 2009. Binary and ordinal regression models were used.stock ownership, concentration of ownership, corporate control

Russian Manufacturing Revisited: Industrial Enterprises at the Start of the Crisis

The paper is based on the findings of a major project by the Higher School of Economics Institute for Industrial and Market Studies (IIMS) to monitor competitiveness of manufacturing enterprises. The study focuses on the drivers and dynamics of business competitiveness, including changes in firms’ behavior during the period before the crisis (2005-2008). The primary issue was to find out what firms and to what extent succeeded in capitalizing on the strong economic growth before the crisis to catch up with their competitors and gain a sustainable competitive position in the market. What was driving output increases and enhanced production efficiency? What were the impediments to this process