DOI:
https://doi.org/10.31063/AlterEconomics/2023.20-2.9
For citation:
Pletnev, D. A., & Kozlova, E. V. (2023). The Impact of Interfirm Institutions, Opportunism, and Coercion on the Effectiveness of Russian Corporations. AlterEconomics, 20(2), 463–484. https://doi.org/10.31063/AlterEconomics/2023.20-2.9
Abstract:
Effectiveness is a crucial issue for economic science, especially for corporations facing challenges posed by the evolving nature of labor in the production process. A viable approach to address these challenges is provided by institutional economics, which offers a means of evaluating intra-company institutions. This article presents the results of applying an original approach based on institutional economics to assess the institutional structure of corporations and its impact on their efficiency. The study relies on the data obtained from an online survey of 500 employees of Russian corporations in 2021. The survey measured the degree of development of institutions of coercion, assistance, and opportunism within the corporations, and assessed the degree of proportionality in the development of different institutions. A rank correlation analysis was performed between the characteristics of the institutional structure of the corporations and their performance indicators in 2021 (sales growth rate and sales profitability). The results suggest a direct correlation between the two variables in several instances. The study also verified the results by comparing them with an alternative assessment of the institutional structure of Russian corporations based on open data. The strength of the correlation was even higher when the results were verified, which confirms the original thesis that the quality of the institutional environment in corporations affects their efficiency and overall performance. This study contributes to a better understanding of the impact of intra-company institutions on the effectiveness of corporations and provides practical recommendations for enhancing management practices. The findings suggest that the democratization of management and development of transparent and trusting labor relations can improve the institutional environment within corporations.
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