This book investigates two issues that have been slowing down the development of equity capital markets in transition economies - slow progress with privatisation and the lack of shareholder rights. Both problems are illustrated with data for the largest publicly traded Russian firms....

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...