| Abstract: | Abstract The paper analyses evolution of ownership structures and patterns of control at Russian privatized firms. The data are provided by three surveys, conducted by The Russian Economic Barometer in 1995, 1997 and 1999. According to results obtained, ownership profile of the Russian industry continues to be skewed in favor of insiders. However, in most cases the first largest shareholders are outside investors. Companies with medium concentration of shareholdings are more successful than companies with dispersed or highly concentrated ownership structure and firms under control of managers or financial outsiders outperform firms controlled by employees, non-financial outsiders or the state. |
