CGIR-2015-0090 Final Accepted 02102015.pdf (433.68 kB)
0/0

State control and corporate governance in transition economies: 25 years on from 1989

Download (433.68 kB)
journal contribution
posted on 21.10.2016 by Anna Grosman, Ilya Okhmatovskiy, Mike Wright
Manuscript type: Review Research Question/ Issue: Which forms of state control over corporations have emerged in countries that made a transition from centrally-planned to marked-based economies and what are their implications for corporate governance? We assess the literature on variation and evolution of state control in transition economies focusing on corporate governance of statecontrolled firms. We highlight emerging trends and identify future research avenues. Research Findings/ Insights: Based on our analysis of more than a hundred articles in leading management, finance and economics journals since 1989, we demonstrate how research on state control evolved from a polarized approach of public – private equity ownership comparison to studying a variety of constellations of state capitalism. Theoretical/ Academic Implications: We identify theoretical perspectives that help us better understand benefits and costs associated with various forms of state control over firms. We encourage future studies to examine how context-specific factors determine the effect of state control on corporate governance. Practitioner/ Policy Implications: Investors and policy-makers should consider under which conditions investing in state-affiliated firms generates superior returns.

History

School

  • Loughborough University London

Published in

Corporate Governance: An International Review

Volume

24

Issue

3

Pages

200 - 221

Citation

GROSMAN, A., OKHMATOVSKIY, I. and WRIGHT, M., 2015. State control and corporate governance in transition economies: 25 years on from 1989. Corporate Governance, 24 (3), pp. 200-221.

Publisher

© John Wiley & Sons

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

2015

Notes

This is the pre-peer reviewed version of the following article: GROSMAN, A., OKHMATOVSKIY, I. and WRIGHT, M., 2015. State control and corporate governance in transition economies: 25 years on from 1989. Corporate Governance, 24 (3), pp. 200-221, which has been published in final form at http://dx.doi.org/10.1111/corg.12145. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.

ISSN

0964-8410

eISSN

1467-8683

Language

en

Exports

Logo branding

Categories

Exports