Internationalization of family firms-challenges and opportunities in Russia

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Abstact

The family firms (FFs) play an instrumental role in the economic spectrum of the Russian economy with respect to their contribution to income, output, and employment, ceteris paribus. The FFs not only contribute the domestic business activities but also make a significant contribution to international business. Ever since the launch of the mass privatization program (MPP) in Russia during 1992–1994 numerous disruptions on the business and economic landscape of Russia have emerged, and as a result, the FFs in Russia have been experiencing several new opportunities and challenges in the international market. However, it is noticeable that corporate regulatory, and corporate governance systems do not even clearly define the FFs. The current study explores the following research objectives: first, the motivation of internationalization of family enterprises in Russia, second, their process of internationalization, and third, the problems and challenges faced by the family enterprises.

Keywords: Family Firms, Small and medium Enterprise (SME), Internationalization, Stage Approach, Network Approach, International Entrepreneurship Approach, Russia

JEL Classification: G32, G34, M14, M16

Received: 01.05.2021
Accepted: 06.05.2021

How to cite: Hundal, S., & Kauppinen, T. (2021). Internationalization of family firms-challenges and opportunities in Russia. In S. Hundal, A. Kostyuk, & D. Govorun (Eds.), Corporate governance: A search for emerging trends in the pandemic times (pp. 126–132). https://doi.org/10.22495/cgsetpt22