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G. I. Benenson and A. D. Golitsyn: business partnership in the institutional context of Russian reality early twentieth century

G. I. Benenson and A. D. Golitsyn: business partnership in the institutional context of Russian reality early twentieth century

Journal of Institutional studies, , Vol. 7 (no. 2),

This paper is devoted to the research of the history of participation Benenson and Golitsyn in the formation of financial and industrial group Russian-British bank in the Russian Empire. It is necessary to emphasize, that in the beginning of the 20 century joint-stock companies have occupied a prevailing situation in the main industrial and financial spheres of the Russian economy already. The densities of production, made by them, was dominant in many industries, making 70-80%, and sometimes more. The formation and successful operation of the integrated companies and, above all, financial and industrial structures (groups) is undoubtedly the most important factor in improving the efficiency and sustained growth in industrial production. The analysis of participation of G. Benenson and A. Golitsyn in the activity of the Russian-English bank and joint-stock company allows to reveal most important for leading branches of the Russian economy institutional parameters of industrial business in the beginning of the 20 century, including: a) Larger or smaller independence owners in those or other kinds of enterprise activity; b) Availability business and socio-cultural connections among other businessmen; c) Efficiency to achieve a balance of individual and group interests; d) A management of the firms having more open (joint-stock structures), or closed (share structures), kind of activity. The process of the company involving in the financialindustrial groups had, sometimes, inconsistent contents, was exposed to influence both positive, and negative economic, sociocultural and political factors (economic crisises, revolution, wars, ethnic and religious conflicts etc.). However general tendency in the development of a integrated component of the Russian business carried in the beginning of the 20 century in the whole favorable orientation, potentially promoting large changes in socio economic structure of the Russian society in this period.

Keywords: Russia; history; G. Benenson; A. Golitsyn; financial and industrial group; commercial banks; joint stock company; the balance of interests; ownership; management

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