Effects of Post-Privatization Governance and Strategies on Export Intensity in the Former Soviet Union
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Effects and
Governance Post-Privatization on
Strategies in
the
Former
Intensity
Export Soviet
Union Igor Filatotchev*
BIRKBECKCOLLEGE
Natalya Dyomina**
NOTrINGHAMUNIVERSITYBUSINESSSCHOOL
Mike Wright***
NOTTINGHAMUNIVERSITYBUSINESSSCHOOL
Trevor Buck**** DE MONTFORT UNIVERSITY
The fall of the Soviet Union brought new enterprise opportunities whose exploitation required the development of entirely new strategies. Simultaneously, enterprises faced crucial constraints in their governance structures. This paper analyzes the impact of governance structures of privatizedfirms on one esearch on firms' export behavior has grown considerably in recent years (Peng and Ilinitch, 1998) but has attracted various criticisms. First, establishing causative links between organizational characteristics and exporting has been difficult with static studies.
key outcome of new strategies: export intensity. Using a longitudinal, multi-industry dataset of privatized firms in Russia, Ukraine and Belarus, we analyze how export intensity is mediated by strategies involving product development, acquisitions and links with foreign partners. Second, the dearth of longitudinal analyses (Bonaccorsi, 1992) leaves unanswered question about causal relationships between organizational characteristics and export activity; the dynamics of relationships have been ignored (McDougall and Oviatt, 1996). Third, re-
*Igor Filatotchev is a reader at Birkbeck College, University of London. His research interests include corporategovernance and strategy. **NatalyaDyomina is a researcherat the University of Nottingham. Her publications relate to corporategovernance issues in economies in transition. ***Mike Wrightis a professor at the University of Nottingham. He has published extensively on privatization,managementbuy-outs, entrepreneurshipand venture capital. ****Trevor Buck is a professor at the De Montfort University. His research interests are corporategovernance, business history and executive compensation. JOURNAL OF INTERNATIONALBUSINESS STUDIES,
32, 4
(FOURTH QUARTER
2001):
853-871
853
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CORPORATEGOVERNANCE,STRATEGYAND EXPORTING
search has focused on single countries, single industries and small firms in developed countries (Leonidou and Katsikeas, 1996). Fourth, emphasis on organizational and environmental factors as antecedents ignores firms' strategic choices in turbulent environments (Leonidou and Katsikeas, 1996). Previous research also neglects the impact of managerial incentives and corporate governance on export strategy development. The link between corporate governance and enterprise performance (Hitt et al., 1996) suggests this may be an important antecedent of managerial willingness to undertake export-promoting strategies. This study explores the dynamic and interactive links between strategic decisions, corporate governance and exporting by privatized industrial
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