State Control and Corporate Governance in Transition Economies: 25 Years on from 1989

By A. Grosman, Ilya Okhmatovskiy, Mike Wright. 2016

125 citations recorded by the source corpus.

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.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/e8e6bbfc027bfffa4bbcc68e788f86f55f98ca87

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Citations in the corpus

State capitalism in international context: Varieties and variations (2020, background): “This literature focused on contingencies that either alleviate the negative effects or amplify the positive effects of state control (Grosman, Okhmatovskiy, & Wright, 2016).”