Innovation and Growth in Russian Industry: A Company-level analysis

Today more and more companies in Russia publish their reports, following the International Accounting Standards. There is a conventional opinion that it makes them more transparent and helps attract investment from financial markets. It is even considered sometimes as a panacea against corporate governance problems of Russian companies. 21 well-known Russian companies did this for the years 1999-2002. In the report we call them financially innovative companies (FICs). The main point of interest of our report is to analyze if the FICs perform better than industry in general: are they growing faster, are they more active in investment and in technical innovations, do they have better indicators of productivity, or not? This report tries to find answers to these questions