OBJETIVOS DEL PROYECTO
DIAGRAMA DE LOS PROCESOS DE FAENAMIENTO DE LA NUEVA EMPRESA PÚBLICA EPUMF-E
To conclude, I acknowledge that firm investment behaviour is a phenomenon that is influenced by the existence of capital market imperfections resulting from institutional and information asymmetries. The start of economic transition in former soviet economies emphasized the need for huge capital investment to modernize obsolete capital stock and to enable these economies to become competitive globally (Hodbari, 2008). Early transition policy debates focused on the best ways to restructure SOEs, with fixed investment seen as the main vehicle. Transfer of ownership to private owners was seen as pivotal for providing much needed funds to finance investments. However, new owners have faced and continue to face challenges related to securing external finance and allocating sufficient internal funds to investments. The importance of considering the governance implications in this context is paramount. This doctoral research does not treat governance factors in isolation; it has considered them conceptually and empirically as a system of interrelated institutional elements, in a unique setting, Russia.
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