The Case of Russia's Agroholdings
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A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Matyukha, Andriy Research Report Business groups in agriculture. Impact of ownership structures on performance: The case of Russia's agroholdings Studies on the Agricultural and Food Sector in Transition Economies, No. 85 Provided in Cooperation with: Leibniz Institute of Agricultural Development in Transition Economies (IAMO), Halle (Saale) Suggested Citation: Matyukha, Andriy (2017) : Business groups in agriculture. Impact of ownership structures on performance: The case of Russia's agroholdings, Studies on the Agricultural and Food Sector in Transition Economies, No. 85, ISBN 978-3-95992-039-1, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), Halle (Saale), http://nbn-resolving.de/urn:nbn:de:gbv:3:2-71327 This Version is available at: http://hdl.handle.net/10419/157627 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. 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Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Andriy Matyukha • Business groups in agriculture: Impact of ownership structures In der Schriftenreihe Studies on the Agricultural and Food Sector in Transition Economies werden durch das IAMO Monographien und SStudiesSttuuddiiieess oononn ttthehhee AAAgriculturalggrriiiccuulllttuurraalll aa andnndd FF Foodoooodd SS Sectoreeccttoorr Tagungsberichte herausgegeben, die sich mit agrarökonomischen ii ininn T TTransitionrraannssiiittiiioonn EE Economiesccoonnoommiiieess Fragestellungen zu Mittel- und Osteuropa beschäftigen. Wissen- In der Schriftenreihe Studies on the Agricultural and Food Sector in schaftlern, die in diesem Bereich forschen, steht die Schriftenreihe als Transition Economies werden durch das IAMO Monographien und Diskussionsforum offen. Tagungsberichte herausgegeben, die sich mit agrarökonomischen Fragestellungen zu Mittel- und Osteuropa beschäftigen. Wissen- schaftlern, die in diesem Bereich forschen, steht die Schriftenreihe als In its series Studies on the Agricultural and Food Sector in Transition Andriy Matyukha Diskussionsforum offen. Economies IAMO publishes monographs and proceedings focusing on Business groups in agriculture agricultural economic issues specific to Central and Eastern Europe. This series offers a forum to researchers studying this area. Impact of ownership structures on performance: In its series Studies on the Agricultural and Food Sector in Transition Economies IAMO publishes monographs and proceedings focusing on The case of Russia’s agroholdings agricultural economic issues specific to Central and Eastern Europe. This series offers a forum to researchers studying this area. Leibniz Institute of Agricultural Development ISSN 1436-221X in Transition Economies ISBN 978-3-95992-039-1 ISSN 1436-221X ISBN 978-3-95992-039-1 85 Business groups in agriculture Impact of ownership structures on performance: The case of Russia’s agroholdings Studies on the Agricultural and Food Sector in Transition Economies Edited by Leibniz Institute of Agricultural Development in Transition Economies IAMO Volume 85 Studies on the Agricultural and Food Sector in Transition Economies Business groups in agriculture Edited by Leibniz Institute of Agricultural Development Impact of ownership structures on performance: in Transition Economies IAMO The case of Russia’s agroholdings Volume 85 by Andriy Matyukha IAMO 2017 Bibliografische Information Der Deutschen Bibliothek Die Deutsche Bibliothek verzeichnet diese Publikation in der Deutschen Nationalbibliografie; detaillierte bibliografische Daten sind im Internet über http://dnb.ddb.de abrufbar. Bibliographic information published by Die Deutsche Bibliothek Die Deutsche Bibliothek lists the publication in the Deutsche Nationalbibliografie; detailed bibliographic data are available in the internet at: http://dnb.ddb.de. This thesis was accepted as a doctoral dissertation in fulfillment of the require- ments for the degree "doctor agriculturarum" by the Faculty of Natural Sciences III at Martin Luther University Halle-Wittenberg on 01.10.2014. Date of oral examination: 23.05.2016 Supervisor and Reviewer: Prof. Dr. Heinrich Hockmann Co-Reviewer: Prof. Dr. Martin Petrick Co-Reviewer: Prof. Dr. George Meier Diese Veröffentlichung kann kostenfrei im Internet unter <www.iamo.de/dok/sr_vol85pdf> heruntergeladen werden. This publication can be downloaded free from the website <www.iamo.de/dok/sr_vol85pdf>. 2017 Leibniz-Institut für Agrarentwicklung in Transformationsökonomien (IAMO) Theodor-Lieser-Straße 2 06120 Halle (Saale) Tel.: 49 (345) 2928-0 Fax: 49 (345) 2928-499 e-mail: [email protected] http://www.iamo.de ISSN 1436-221X ISBN 978-3-95992-039-1 ACKNOWLEDGEMENTS This Ph.D. thesis was conducted at the Leibniz Institute of Agricultural Develop- ment in Transition Economies (IAMO) in Halle (Saale), Germany during 1 Feb- ruary 2009-30 September 2014. It was successfully accomplished due to gene- rous contribution of a number of people to whom I desire to give my sincere gratitude. First and foremost I thank God for the strengths, energy, and wit I obtained during the entire dissertation writing. This Thesis would not have been possible to achieve without the indispensable people and the right time I encountered throughout the Agroholdings project. I would like to express my deepest acknowledgments to my Thesis supervisors Prof. Dr. Hockmann and Dr. Wandel as it is due to their endeavors that the Agroholdings project was accepted by the German Research Foundation. Prof. Dr. Hockmann provided critical quantitative support imperative for the econometric scrutiny parts of the Dissertation. Dr. Wandel predominantly contributed to improving the qualitative sections of the dissertation, especially in terms of the Agroholdings’ developmental retrospect and the critical Ger- man-Russian project partners. Furthermore, I am deeply grateful to my disser- tation co-reviewers Dr. Meier of Robert Morris University and Prof. Dr. Petrick of IAMO for providing extremely valuable editing, professional and scientific agricultural remarks. I am grateful Dr. Perekhozhuk and Prof. Dr. Glauben which contributed to my initial stay in Germany by inviting to write a mutual paper, ultimately, turning out to my conducting the Ph.D. here at IAMO. I am very thankful to Prof. Dr. Ushachev and Dr. Kolesnikov of Russian Academy of Sciences, Prof. Dr. Yakovlev of Higher School of Economics, Dr. Rylko of the Institute of Agricultural Market Studies, and Prof. Dr. Uzun and Dr. Saraykin of Russian Institute of Agrarian Problems and Informatics for the tremendous sup- port I obtained while conducting field-work in Moscow, Russia, as well as in Ger- many. Their support facilitated a comprehensive ownership structure investi- gation, interviews with Senior Executives of Russia’s Agroholdings, and access to farm-level empirical data vital for the discovery of the largest agricultural busi- ness groups of Russian Federation and their subsequent ownership-performan- ce analysis. ii Acknowledgements My earnest appreciation goes to my international coworkers at IAMO both at collegial and personal levels with whom I spent some of the greatest years of my life. I wish to say thanks to Diana Grigoreva, Ivan Djuric, Diana Traikova, Konstantin Hahlbrock, Marina Hahlbrock, Omar E. Baqueiro, Ilkay U. Gailhard, Giorgi Chezhia, Lili Jia, Johanness Findeis, Katharina Vantomme, Tim Illner, Maria Belyaeva, Nizami Imamverdiyev, Gulmira Gafarova, Aaron Grau, Lena Kuhn, Brett Hankerson, Viola Bruschi, Yanjie Zhang, Miranda Svanidze, and Nodir Djani- bekov. Finally, I would like to immensely thank my parents Oksana Pidruchna and Yuriy Matyukha and my grandparents Halyna and Volodymyr Pidruchniy, Vira and Volodimir Matyukha by dedicating this monograph to them. Thank you for your education, making me who I am now, and the everyday encouragement that kept me motivated all along. Halle (Saale), 1 October 2014 Andriy Matyukha TABLE OF CONTENTS Acknowledgements ................................................................................. i List of tables .............................................................................................. vii List of figures ............................................................................................ ix 1 Introduction .......................................................................................... 1 1.1 Preliminary remarks ................................................................................................................ 1 1.2 Objective and hypotheses ..................................................................................................