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

Grosman, Anna, Wright, Mike and Okhmatovskiy, Ilya (2016). State control and corporate governance in transition economies:25 years on from 1989. Corporate Governance, 24 (3), pp. 200-221.

Abstract

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 state-controlled firms. We highlight emerging trends and identify future research avenues. Research Findings/Insights - Based on our analysis of more than 100 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 policymakers should consider under which conditions investing in state-affiliated firms generates superior returns.

Publication DOI: https://doi.org/10.1111/corg.12145
Divisions: Aston Business School > Economics finance & entrepreneurship
Aston Business School
Additional Information: This is the peer reviewed version of the following article: Grosman, A., Wright, M., & Okhmatovskiy, I. (2015). State control and corporate governance in transition economies: 25 years on from 1989. Corporate governance, Early view, 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.
Uncontrolled Keywords: corporate governance,transition economies,state capitalism,China,Russia,Management of Technology and Innovation,Strategy and Management,Business, Management and Accounting(all)
Full Text Link:
Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
http://onlineli ... .12145/abstract (Publisher URL)
Published Date: 2016-05
Authors: Grosman, Anna
Wright, Mike
Okhmatovskiy, Ilya

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