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This chapter deals with the perception of (sensed) discrimination and the coping strategies of Russian-speaking female scholars in Germany and applies an intersectional approach between culture, migration, gender and social background. Based on telephone interviews, the study aims to contribute to the discussion on discrimination in research environments and individuals’ professional integration by exploring narratives of migration and work in 13 women who migrated from the former Soviet Union (FSU) to Germany from 1990s to 2010s. Based on the findings, the author derives implications for policy and practice, such as a recommendation to implement introductory conversations with newcomers to reduce culture clash in competitive work contexts.

This study aims to test the validity of the Rajan theory in South Africa and other selected emerging markets (Chile, Peru and Brazil) during the period 1975–2019.

In this study, the researchers used time-series data to estimate a Bayesian Vector Autoregression (BVAR) model with hierarchical priors. The BVAR technique has the advantage of being able to accommodate a wide cross-section of variables without running out of degrees of freedom. It is also able to deal with dense parameterization by imposing structure on model coefficients via prior information and optimal choice of the degree of formativeness.

The results for all countries except Peru confirmed the Rajan hypotheses, indicating that inequality contributes to high indebtedness, resulting in financial fragility. However, for Peru, this study finds it contradicts the theory. This study controlled for monetary policy shock and found the results differing country-specific.

The findings suggest that an escalating level of inequality leads to financial fragility, which implies that policymakers ought to be cautious of excessive inequality when endeavouring to contain the risk of financial fragility, by implementing sound structural reform policies that aim to attract investments consistent with job creation, development and growth in these countries. Policymakers should also be cautious when implementing policy tools (redistributive policies, a sound monetary policy), as they seem to increase the risk of excessive credit growth and financial fragility, and they need to treat income inequality as an important factor relevant to macroeconomic aggregates and financial fragility.

State ownership has been common especially in industries with restricted competition. In Russia, state-controlled firms represent around 41 percent of the market value of all listed firms (Deloitte, 2015). Yet, there is a significant gap in the literature regarding the effects of various forms of government control in listed firms. The purpose of this paper is to fill this gap by exploring the impact of the complexity of state ownership and competition on the performance of Russian listed firms.

The sample consists of data for 72 firms (360 firm-years) in the Russian MOEX broad market index during 2011–2015. The complexity of state ownership is captured by studying forms of state control including majority/minority, direct/indirect, federal/regional, mixed structures and golden shares.

The authors find significant differences in performance relating to different forms of state ownership. State control is negatively related to firm valuation and the sales/employees ratio. Performance is weakest when state ownership takes the form minority, regional or direct ownership. State control through golden shares typically outperforms other state-controlled firms. The authors find indications of employment prioritization beyond the economical optimum. In addition, the relation between state ownership and profitability becomes positive in sectors where state firms appear to enjoy lower competition.

While the effects of state ownership have been studied on many markets, there is a lack of studies on the effects of different forms, or the complexity, of state ownership beyond direct and indirect ownership. The authors contribute to the literature on the performance effects of state ownership by studying a multitude of forms of governmental ownership as well as the role of competition in Russia. Especially the profitability of state-controlled firms is significantly affected by industry characteristics. Implications of the results are discussed both from firm and policy maker perspectives.

This study aims to explore how Russian-origin immigrant entrepreneurs manage to adapt their business-to-business (B2B) relationship management practices and moral concerns to the business ethics of their country of origin and of the host country via the prism of ethical relativism. By focusing on the ethical values of immigrant entrepreneurs in a business relationship context, the study aims to extend the currently limited understanding of these issues in the B2B marketing field.

A qualitative approach is applied to provide findings from eight in-depth interviews with first-generation Russian entrepreneurs living and doing business in Finland. A narrative approach to the data analysis is used, in particular by applying a thematic analysis of the collected interviews because of the focus on the personal experiences of the interviewees.

The results illustrate how the immigrant entrepreneurs adapt to ethical values and norms in Russia and Finland and how they enact those values in B2B relationship management in the countries. Immigrant entrepreneurs share several national and ethical backgrounds, which may influence their interaction in international markets, helping them adapt to country-specific business ethics.

The results imply that managers should acquire knowledge on ethical norms at the global level and at the national level, where they aim to expand their business. Productive business relationships involve the premises of honesty, transparency, fairness toward business partners and minimizing opportunism. However, business relations between developed and emerging markets may demand relativism when addressing ethical behavior.

This is one of the few studies that explore the ethical values of immigrant entrepreneurs in the context of international business relationships. The study contributes to the limited literature on ethics in the fields of B2B marketing and immigrant entrepreneurship. The authors encourage further research on ethical values adoption by immigrant entrepreneurs, which is an essential topic in times of increased workforce immigration.

This study examines whether CEO power influences the book-based and market-based performance of Russian companies when it is restricted by the presence of essential shareholders, namely, state and influential businessmen.

Managerial power is divided into structural, ownership, expert and prestige. The proposed power metrics include not only CEOs but also the board of directors' characteristics that may restrict or enhance CEO power. The empirical analysis is based on the sample of 90 large traded Russian firms, which shares are included in the Moscow Stock Exchange Broad Market Index (MICEX BMI), observed from 2012 to 2019.

Panel data analysis suggests that higher board ownership and tenure may restrict CEO power, which in turn would be beneficial for corporate performance. the authors also see that in companies owned by influential businessmen, CEO power influence on M/B value is more negative, while state ownership does not moderate it. CEO power metrics, based on political experience and tenure, affect corporate performance differently in companies affiliated with extractive industries.

First, the authors consider two channels through which a company in emerging markets may get additional resources: CEOs and influential owners. Second, the authors develop power metrics based on Finkelstein's managerial power classification (1992) and the idea of relative power proposed by Bebchuk et al. (2011). It allows identifying whether the board of directors' may constrain or enhance CEO power to raise corporate performance. Third, the authors analyze developing Russian markets that represent a good ground for testing the question, whereas empirical research on Russia is relatively scarce (Grosman and Leiponen, 2018). Fourth, the authors pay particular attention to the CEO power in the extractive industry, strategically important for the Russian economy.

本研究擬探討行政總裁的權力，若因有不可或缺的股東 - 即國家和具影響力的實業家 - 的存在而受到約束時，其權力會否影響俄羅斯公司以賬簿為基礎和以市場為基礎的表現

管理權分為結構性的、所有權的、專家的和聲望的。提出的權力指標不但包括行政總裁，也涵蓋或會限制或增加行政總裁權力的董事會特徵。本研究的實證分析法是基於90間股份被納入莫斯科股票交易廣泛市場指數的大型俄羅斯上市公司樣本，觀察期由2012年至2019年

面板數據分析顯示、較高的董事會所有權和較長的任期或會限制行政總裁的權力，這因此有利於提升企業績效。我們亦看到，在具影響力的企業家擁有的公司裡，行政總裁權力對市價淨值的影響是較負面的，而國有制沒有把它減低。就隸屬採掘業的公司而言，基於政治經驗和任期的行政總裁權力指標，會對企業績效帶來不同的影響

(一) 我們考慮在新興市場公司可取得額外資源的兩個途徑：行政總裁和具影響力的所有者。(二) 我們基於芬克爾斯坦 (Finkelstein, 1992) 的管理權分類，以及 Bebchuk et al. (2011) 所提出相對功率的學說，建立了權力指標。憑著這權力指標，我們可鑑定董事會會限制、抑或增強行政總裁提升企業績效的權力。(三) 我們分析發展中的俄羅斯市場，其為測試我們問題的良好地方，而探討俄羅斯的實證研究較為稀有 (Grosman and Leiponen, 2018) 。(四) 我們特別關注在採掘業的行政總裁權力，而採掘業對俄羅斯經濟來說、是具有重要戰略意義的

The purpose of this article is to analyze main principles, forms and approaches to education quality evaluation in the process of establishment, development and crucial changes in the state accreditation of educational institutions and study programmes in Russian higher education in the last 20 years.

The major research method used in the paper is the qualitative analysis of legal and statistical documents, research papers and accreditation practices, which impacted the development and transformation of accreditation forms in Russia.

The transformation process of state accreditation during the last 20 years was conditioned by the changes in the state education policy and socio-economic situation. In a short period, under the influence of internal and external factors, Russian higher education has experienced significant changes in the structure of higher education and quality assurance. This resulted in different approaches to accreditation: state and independent, mandatory and voluntary, national and international.

The research outcomes may be applicable in the countries with developing accreditation systems and comparable scope of education.

The study identifies the tendencies in the development of higher education and quality evaluation.

The paper systematizes the tendencies of development in quality assurance and distinguishes specific features and diversity of forms of the quality assurance in one of the largest systems of higher education.

In this paper, the authors study the failure of Russian banks between 2012 and 2019.

The authors analyze the entire population of Russian banks and combine a logit model with the survival analysis.

In addition to the usual determinants, the authors find that not-failed banks have higher levels of fulfillment of the Central Bank requirements of solvency, liquidity, provide fewer loans to their shareholders and own more shares of other banks. The results of this study suggest an asymmetric effect of the strategic orientation of banks: whereas the proportion of deposits from firms is negatively related to the probability of failure, the loans to firms are positively related to bankruptcies. According to this research, the fact of being controlled by a foreign bank has a significant negative relationship with the likelihood of failure and moderates the effect of bank size, performance and growth on the bankruptcy likelihood.

On the whole, the results of this study support the new Central Bank rules, but show that the thresholds imposed by the Russian regulator actually do not make a difference between failed and not failed banks in the short and medium term.

The authors specially focus on the effectiveness of new rules issued by the Central Bank of Russia in 2013.

This study aims to examine the impact of the beginning of the Russia–Ukraine war and the Wagner Group’s attempted military coup against Putin’s regime on the European defense sector, consisting of weapons manufacturers.

The authors use the event study methodology to quantify the impact. That is, the authors assume that markets are efficient, and abnormal stock returns around the event dates capture the magnitudes of the impacts of the two events studied on European defense sector companies. The authors use the capital asset pricing model and two different multifactor models to estimate expected stock returns, which serve as the benchmark necessary to obtain abnormal returns.

The start of the war on February 24, 2022, when the Russian forces invaded Ukraine, was followed by high positive abnormal returns of up to 12% in the next few days. The results are particularly strong if multiple factors are used to control for the risk of the defense stocks. Conversely, the authors find a negative impact of the rebellion initiated by the mercenary Wagner Group’s chief, Yevgeny Prigozhin, on June 23, 2023, on the abnormal returns of defense industry stocks on the first trading day after the event.

To the best of the authors’ knowledge, this is the first study of the impact of the Russia–Ukraine war on the defense sector. Furthermore, this is the first study to measure the financial implications of the military coup initiated by the Wagner Group. The findings contribute to a rapidly growing literature on the financial implications of military conflicts around the world.

The purpose of this paper is to address notions and practices relating to work–life balance for native German scholars and researchers who have migrated from the former Soviet Union (FSU). Issues will be explored from a cultural perspective, identifying culturally based interpretations of work–life balance.

Foregrounded in a diversity approach, this empirical study draws upon explorative interviews to discuss work–life balance in German academia. To overcome monocultural observations, 25 German scholars and 11 researchers originating from the FSU were interviewed, all of whom are highly skilled female scholars.

Findings demonstrate that individuals with diverse cultural backgrounds can perceive huge differences in identical working conditions. The study links meanings of work–life balance with individual practices and identifies key components of work–life balance within this population. It also discusses the decisions that scholars make about starting families or remaining childless for the sake of their careers.

This study is the first of its kind in Germany, and represents a strong implication for policies and their evaluation. It identifies the crucial role played by culturally rooted notions relating to work–life balance practices.

Recently the route connecting the trans-Korean railway and the trans-Siberian railway has become of particular interest for many academics and policy-makers in East Asian countries. The extensive review of previous studies, however, reveals that literature on the subject is lacking solid analytical framework. Most studies are one-sided, focusing on the political aspects of the issue or paying little attention to the economic aspects of the problem.

This study intends to develop an analytical framework through which the most efficient route among four major alternative routes connecting the trans-Korean and trans-Siberian railways can be identified. It attempts to assign priorities to the four alternative routes according to their level of economic efficiency.

This study utilizes a simple cost-benefit analysis in evaluating the four routes. Cost side, transportation time, effectiveness of customs procedures, and gauge difference are selected as the main economic factors. The volume of cargo, industrial production in adjacent regions, access to natural resources, and market size and foreign investment climate are used to evaluate the benefits of the routes.

The study concludes that Route 3, which connects ‘Busan - Seoul (South Korea) –Pyongyang -Sinuiju (North Korea) –Shenyang –Beijing - Erenhot (China) –Ulaanbaatar (Mongolia) –Ulan-Ude - Moscow (Russia)’ is the most efficient route.