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It is no secret that the modernisation process in Russia via state-owned companies has run into a dead end. A full understanding of this stagnation requires an investigation of the governance systems and the changes going on behind them. Using the example of the two most important state-owned companies of the aviation sector, the JSC United Aircraft Corporation (UAC) and the non-profit organisation (state corporation—Gosudarstvennaya Korporatsiya) Rostec, this article shows the main differences in state corporate governance systems, identifying a presidential and a governmental governance system. In the context of this work, the term governmental is limited only to the federal cabinet and its administrations, thereby creating an awareness that different executive state bodies can exercise different forms of state governance. Overall, the sector is characterised by growing informalisation and industrial incorporation. [ABSTRACT FROM AUTHOR]

The article presents a history of the policy of the Vietnamese Communist Party (VCP) towards state owned enterprises (SOEs). Despite an evident embrace of markets from the early 1990s, the VCP has resisted formal political change. The state sector has retained a privileged economic and political position. Policy has been made in the context of a political order where the interests of certain groups within the ostensibly hierarchical state have usually prevailed over attempts to generate coherent economic strategy. This has resulted in a situation where the formal ownership of SOEs is unclear, and real ownership is vested, apparently, in groups within a State Business Interest. [ABSTRACT FROM AUTHOR]

The article examines the organisational transformation of the Russian defence industry during the period of privatisation and radical market reforms. The study is based on the results of an original large-scale longitudinal survey of the directors (CEOs) of the industry. We find that over a decade of transition, 1996-2006, Russian defence industry managers were able largely to preserve the production potential of their enterprises and make them capable of operating under market conditions. Coupled with the restoration of government orders and the 2020 rearmament programme, these newly acquired market skills have contributed to the impressive revival of the Russian defence industry in the Putin era. [ABSTRACT FROM AUTHOR]

China has become a fast-growing economy with an unbalanced economic structure. Economic policies, especially fiscal and financial policies, contribute to the current growth model by depressing household disposable income and reducing the social services provided by the government. Laws that have been used by the government to subsidise investment and production by distorting factor markets are also to blame. Finally, rebalancing China’s growth pattern has proven to be extremely difficult due to political obstacles, including pressure from interest groups, gridlock caused by factional politics, and ideological discrimination against private entrepreneurs. [ABSTRACT FROM PUBLISHER]

The article presents the perspectives of managers as part of the Romanian organisational elite on the communist regime and on the transition period, and the values and principles that informed their behaviour as managers in each period. For the first decade after the end of communist rule, managers were drawn mainly from the second level of management of the state-owned enterprises of communist times. As a group they had been selected and formed in late communism. Among the main advantages of this social group were that they demonstrated considerable survival capacity, ideological neutrality and an ability to manoeuvre in a turbulent environment. On the other hand they had to adapt to their new environment drawing on the skills and mentality they had developed under the old regime. The research employed a qualitative method based on the interpretation of conversations between managers and students. [ABSTRACT FROM PUBLISHER]

Significant change is occurring in the Russian gas sector as the arrival of new entrants is creating the conditions for a gradual evolution of the domestic gas market towards a more competitive environment based upon the commercial realities facing the Russian gas industry. Non-Gazprom producers are increasingly adopting more aggressive marketing strategies to ensure that they create a market for their expanding gas production in a market where demand is constrained. State-controlled Gazprom has yet to demonstrate any significant response to this competitive threat, implying that its position could be significantly undermined over the next few years. [ABSTRACT FROM AUTHOR]