Alternative forms of disciplining the actionsof senior enterprise managers can becharacterized as shareholder or stakeholdergovernance. This paper analyzes thecontingencies that favour different forms ofgovernance and addresses the question: doesRussia need a stakeholder-oriented model...

Economic reform in Russia has been described as 'shock therapy' because rapid industrial privatization, price liberalization and democratic reforms of the political system were introduced simultaneously. However, shock therapy led to insider control of most manufacturing firms, with important...

Building links with foreign partners offers major potential for the development of economies in transition. However, in transition economies, old institutions still exert a strong influence on business decisions, posing problems for the development of these links. This paper analyzes the...