Employee buyout, the main privatization vehicle for large Russian industrial enterprises, has been widely critized because it provides no new funds for investment, produces sub-optimal decisions in terms of operations and strategy, and results in faulty corporate governance. While our study confirms these features, our analysis suggests that employee buyout offers a major advantage as a versatile structure that can change over time to produce a genuine industrial transformation.
This is a preview of subscription content, access via your institution.
Buy single article
Instant access to the full article PDF.
Price includes VAT (USA)
Tax calculation will be finalised during checkout.
About this article
Cite this article
Buck, T., Filatotchev, I. & Wright, M. Employee Buyouts and the Transformation of Russian Industry. Comp Econ Stud 36, 1–15 (1994). https://doi.org/10.1057/ces.1994.8