Russian Federation
Composition of Industrial Ownership

Source: World Bank survey, excerpted in EBRD Table 8.5.

This table shows the composition of ownership of firms in the Russian Federation. It is based on a survey of 439 industrial firms in 1994. The dominant type of ownership is defined as the form of ownership that includes more than 50% of shares of the firm. The ownership type "outsiders" includes foreign investors while "insiders" refers to managers and workers. The table categorizes the surveyed firms by dominant ownership type and gives for each dominant ownership type the percent of shares held by different ownership forms. Thus the columns should add to 100%; they differ slightly from 100% because of rounding errors.

This table shows that firms with dominant outside ownership also have large inside ownership stakes. More generally, insiders have large stakes in privatized companies in the Russian Federation. Among all privatized firms surveyed, insiders held 69% of shares and the dominant stake in 84% of the firms. Thus far alternatives to state ownership and insider ownership in privatized firms have not become very significant or distinctive.

Enterprise Restructuring in the FSU