ABSTRACT
The chapters in this book analyse the development of Yukos, SibAl (RusAl) and Norilsk Nickel, to demonstrate that the effects of ICGPs in the 1990s on the companies they affected were more ambiguous than is sometimes recognized. These were corporate governance abuses that were undoubtedly detrimental to investors and also proved costly to Russia's business reputation. However, the insiders who perpetrated them were not the only beneficiaries: arguably, the businesses themselves also benefited. It has been shown that they served as ‘coping strategies’ for owner-managers in the cases studied, in their attempts to establish coherent business units in the circumstances then prevailing.
