Reasons for the low valuation of Russian shares

Economics of Transition Pub Date : 1996-10-01 DOI:10.1111/J.1468-0351.1996.TB00182.X

Dirk Wilier, R. Nash

引用次数: 4

Abstract

This note analyses the valuation of Russian assets focusing on the market capitalization of major Russian firms trading in Moscow. It documents that valuations are very low compared to similar assets in mature economies. Several reasons are advanced to explain this phenomenon. The most important of these seems to be the poor record of Russian firms with respect to honouring shareholder rights. Some policy proposals are made to address this problem. Copyright 1996 The European Bank for Reconstruction and Development.

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俄罗斯股票估值低的原因

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来源期刊

Economics of Transition ECONOMICS-

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期刊介绍： Economics of Transition publishes high-quality, refereed articles on the economics of structural transformation, institutional development, and growth. It presents innovative theoretical work and econometric analyses of the process of economic reform and its macroeconomic effects. The journal aims to promote new thinking on how institutions and institutional change can be analyzed and measured and how their impact on aggregate economic performance can be evaluated.