The fall of the Soviet Union brought new enterprise opportunities whose exploitation required the development of entirely new strategies. Simultaneously, enterprises faced crucial constraints in their governance structures. This paper analyzes the impact of governance structures of privatized...

This paper provides new survey evidence on effects of concentrated ownership on restructuring and performance in privatized firms in Russia. The major findings are that large-block shareholding is negatively associated with the firm's investment and performance, and this relationship does not...

This paper evaluates the impact of ownership concentration on firm performance in a weak institutional environment. Specifically, using new survey evidence, we seek to appraise quantitatively the performance of block-holder-controlled firms in Russia and to identify, within the domain of...

Purpose – The purpose of this editorial is to discuss the problems inherent in examining the effectiveness of corporate governance without explicit consideration of the environment faced by firms. It advocates a contingency approach to the research area, illustrating its ideas by reference to...