Mezzanine Financing: Application Practices and Leadership Aspects

Mezzanine financing instruments are quite common throughout the world, the practice of their application began to appear in Russian Federation. The potential of mezzanine lending is due to the current volatile economic situation, when it is difficult to apply traditional financing methods. Our paper presents a comparative study of mezzanine financing in Russia and other countries, from the point of view of determining the level of development of mezzanine lending in Russia and the manifestation of characteristic patterns that lead, ultimately, to their own, different from other countries, direction of the formation of the market of mezzanine products. We discuss the main approaches of Russian and foreign researchers to the concept of “mezzanine financing”, determine the possible forms of its application in practical activities, and analyze the existing practice in Russian Federation and other countries and make conclusions and implications.