CITISE
ISSN 2409-7616
CITISE № 3(29) 2021
Economic sciences
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Zeldner A.G., Osipov V.S.

RUSSIAN STATE CORPORATIONS AND SOUTH KOREAN CHEBOLS: GENERAL AND SPECIAL

DOI: http://doi.org/10.15350/2409-7616.2021.3.25

UDC 334.723

Zeldner A.G.1 (Moscow, Russian Federation) – E-mail: Zeldner@inecon.ru, Osipov V.S.2 (Moscow, Russian Federation) – E-mail: vs.ossipov@gmail.com

1Institute of Economics RAS

2MGIMO University

Abstract. The problem of research. In this paper, a comparative analysis of Russian state-owned corporations and South Korean chaebols from the management perspective is carried out. The authors note the great similarity of these organizations not only in the management mechanism, but also in the goals of functioning and development strategies. The results of the analysis and conclusions are presented, from which it follows that the Russian authorities clearly used the experience of the chaebols of South Korea to grow national champions, and, consequently, Russia has the opportunity to identify problem areas in the management of chaebols and avoid them in the development of state corporations. Research methods. The paper uses a comparative method of analysis, structural and institutional methods. The comparative method allowed the authors to measure the management structures of chaebols and state corporations, to identify differences in property rights. The structural method revealed the similarity of the construction of chaebols and state corporations. The institutional method made it possible to identify the economic mechanism of the activities of chaebols and state corporations. All three methods used showed how state corporations lose to Chaebols. Conclusions. The study showed that both Chaebol and state-owned corporations are closely connected with the government in terms of financing and determining the development strategy. At the same time, chaebols are formed according to a linear-functional and divisional type with a predominance of cross-ownership of blocks of shares and nepotism in determining the heads of enterprises of one chaebol. State corporations are more similar to the Soviet ministries of the late period, formed according to the linear-functional and divisional type. Chaebols are controlled by owners, and control over the activities of state corporations is blurred between internal audit commissions, audit companies and the Accounts Chamber of the Russian Federation, without a clear definition of the areas of control.

Keywords: chaebol, state corporation, corporate governance, ownership structure, economic mechanism.

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For citation:

Zeldner A.G., Osipov V.S. Russian state corporations and South Korean chebols: general and special. CITISE, 2021, no. 3, pp.323-331. DOI: http://doi.org/10.15350/2409-7616.2021.3.25

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