Productivity and Privatization in Russian Oil & Gas
This paper explores the hypothesis that privatization has resulted in better firm performance in the Russian oil and gas industry. The study focuses on three vertically integrated oil and gas conglomerates, Rosneft, Lukoil, and Gazprom Neft, to identify the effect of changes in ownership structure on production costs. The time-period of interest is from the years after the fall of the USSR to the present. Multivariate regression controlling for time trends and year effects shows that production expense per barrel of oil equivalent is negatively correlated with increases in government share. In the Russian political and economic context, comprised of privatization followed by a period of renewed government investment, increased government ownership is associated with lower production costs for the three firms studied.
Since the beginning of this century,private brand has become one of the distinguishing features of the chain store in Shanghai.Based on an empirical research,private brand has penetrated in fast all modern retailer's types in Shanghai,and shown different characteristics in retailer's type,category,position/competition,brand strategy and marketing-mix.This paper discusses the industry policy suggestions at the macro-level on one hand,and the marketing implications for chain store on the other hand.