SPECIFIC FEATURES OF FORMATION OF RUSSIAN FINANCIAL AND INDUSTRIAL GROUPS

Abstract

Financial and industrial groups in Russia as well as in other countries have got formed through concentration of capitals and production forces; however, Russian corporate structures originated under conditions of quick privatization of state property in the course of the country’s transitionto the market economy. Management system of Russian corporations is governed mainly by numerous legal documents contrary to similar structures in economically developed countries. In Russia, there are many state-owned corporations used by the government to adequatelycontrol the country’s economy, while in developed countries such corporations are used as competition optimization means. State participation in corporations’ activities is a must to support socially important unprofitable productions and services.

Keywords

• financial and industrial group
• privatization
• corporation
• capital
• top-management
• management
• organization