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CORPORATE GOVERNANCE AND VOUCHER BUY‐OUTS IN RUSSIA
Author(s) -
FILATOTCHEV Igor,
WRIGHT Mike,
BUCK Trevor
Publication year - 1995
Publication title -
annals of public and cooperative economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.526
H-Index - 37
eISSN - 1467-8292
pISSN - 1370-4788
DOI - 10.1111/j.1467-8292.1995.tb00879.x
Subject(s) - voucher , corporate governance , incentive , business , process (computing) , industrial organization , market economy , economic system , economics , finance , accounting , computer science , operating system
* This paper examines the issues which may create pressures and incentives to introduce efficiency‐enhancing governance structures in enterprises which are privatized through voucher schemes in Russia. These pressures emphasize the need to view buy‐outs created on privatization as transitory organizational forms with a three‐stage process being suggested as the most feasible for developing governance mechanisms which produce efficiency gains, The paper uses illustrative case studies of the first major enterprises to experience post‐privatization ownership changes .