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Only in the separate countries also concerned only a joint-stock company part. For example, in 1980

In the USA have widely extended so-called "extra and administrative Repayments "(LBO, it). They were reaction to a divergence of interests Professional management and shareholders of some large corporations (the low Share price of these companies as a symptom of high agency costs (agency costs) gave the chance to "redeem" these companies under the low price.

History with repayments (buy-outs), received wide popularity,

"Short circuit" of corporation, its management, in itself, their loss is possible

From the general system of a corporate governance.

For Russia a corporate governance problem, i.e. the control from outside

Properties in joint-stock company sector, it is especially sharp owing to those entry conditions,

Which have been set by privatisation: in the large sizes of the enterprises, big

In weight of shareholders and shattered

Character of the property, considerable relative density of the joint-stock

The property concentrated in the enterprises. All these circumstances Predetermine inevitability of redistribution of the joint-stock property in Creation direction of "the ultimate authority control" (i.e. supervising Interest).

Stages of structurization of the joint-stock property

Now (the middle of 1996) it is possible to allocate following stages Structurizations of the joint-stock property in Russia:

1. A stage of check (not monetary) privatisation (approximately the middle 1992 -

The middle 1994).

2. A monetary stage of privatisation (second half 1994-1996),

3. The subsequent re-structuring of the joint-stock property covering

The previous stages, but especially intensively occurring to the end of 1995 and

Proceeding now,

Certainly, this periodization is substantially conditional. First, in it Basis such formal sign, as the Government program is put Privatisations (further - it), accepted in July, 1992 and continued Position about monetary privatisation in the end of 1994. Secondly, each of

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Large Weather Icons Large Weather Icons represent different weather conditions that are common for software, weather Web sites, and mobile gadgets. The images come in typical resolutions standard to Windows, Mac OS, and other platforms. The largest versions are huge 512x512 pixel images with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest resolution.

24x24 Free Application Icons 24x24 Free Application Icons pack has everything you need for your web project or application toolbar.

Yellow Web Buttons Yellow Web Buttons offer a set of navigation icon images for social networks and custom web sites. The icons are easy on the eye, and provide a uniform theme painted in yellow color. The delicious buttons for delicious sites:)

Basic Icons for Vista Basic Icons for Vista is a collection of sleek and professionally finished icons designed in the same manner as the original Vista icons. The images come in two versions: with or without shadows.

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