-controlling or "residual" state ownership framework, grounded in credible privatization and institutional theory. We propose that: 1 … signals state support for managerial initiatives; 2) the passage of time since initial privatization negatively affects … turn negative at higher state ownership levels. CARs turn sharply negative within 1-2 years from initial privatization …

This study seeks to investigate how and why state capitalism developed in China and Russia in the oil and gas sectors … argues that state control over the oil and gas sectors has succeeded in achieving their respective goals, bolstered bilateral … hydrocarbon ties between the two countries, buffered each against the geopolitics and financial volatility of oil and gas markets …