000			01311nam a22001577a 4500
999			_c514212 _d514212
008			201014b ||||| |||| 00| 0 eng d
100			_aGregg, Amanda G. _918656
245			_aFactory productivity and the concession system of incorporation in late Imperial Russia, 1894–1908
260			_aThe American Economic Review
300			_a110(2), Feb, 2020: p.401-425
520			_aIn Imperial Russia, incorporation required an expensive special concession, yet over 4,000 Russian firms incorporated before 1914. I identify the characteristics of incorporating firms and measure the productivity gains and growth in machine power enjoyed by corporations using newly-constructed factory-level panel data compiled from Russian factory censuses. Factories owned by corporations were larger, more productive, and more mechanized than unincorporated factories. Higher productivity factories were more likely to incorporate and, after incorporating, added machine power and became even more labor productive. Russian firms sought the corporate form's full set of advantages, not just stock markets access, to obtain scarce long-term financing. – Reproduced
650			_aIndustry studies, Manufacturing _918628
773			_aThe American Economic Review
906			_aECONOMIC HISTORY
942			_cAR