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Mechanisms of Investment into Company Resources: Justification of the Choice and Russian Specifics

Author: Svetlana V. Orekhova and Fyodor Ya. Legotin


The article is devoted to the choice of forms of investment into resources of companies operating in the Russian institutional environment. To justify the choice of investment forms the authors propose to use the criterion of control over resources due to “bundle” of property rights owned by investor. Clarification of the economic concept “resources” from the viewpoints of resource and relational conceptions enabled the authors to identify two models of resources attraction: a model oriented to acquiring ownership of assets and a model oriented to temporary attraction of resources from a network or market. A closer analysis indicated that globally companies tend to switch to the second model because of the ratio of transaction and transformation costs when getting various property rights. In Russia, the use of the model focused on the temporary attraction of resources within inter-firm cooperation is encouraged by specific parameters of the national institutional environment. The authors arrive to the conclusion that utilization of this resource strategy alone significantly reduces the competitiveness of the Russian companies.

Keywords: resource; property rights; strategy; inter-firm cooperation; sustainable competitive advantage.

For citation:

Orekhova S. V., Legotin F. Ya. Mekhanizmy investirovaniya v resursy predpriyatiya: obosnovanie vybora i rossiyskaya spetsifika [Mechanisms of Investment into Company Resources: Justification of the Choice and Russian Specifics]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 1 (63), pp. 80–89.