Management Efficiency Improvement And Anti-Corruption Measures In State-Owned Companies

The paper analyzes the process and results of the bankruptcy of one of the major government-owned road construction enterprises in Russia, Kamchatavtodor. The mechanisms of corporate management in the road sector are clearly seen on the example of one of the largest enterprises Kamchatavtodor plc. Since Kamchatavtodor’s incorporation, its financial indicators had been falling dramatically year after year, and in 2014 the company finally became lossmaking. Describing the erroneous and even semi-criminal management of the company in the transition period, the author emphasizes that, sadly, the situation is rather typical for the present economic situation in Russia. The solution to the problem is seen in creating self-regulatory organizations which can take on certain managerial functions of the government and significantly increase the quality of asset management, especially crisis management. The implementation of the scheme, proposed in this article, could bring about the following positive results: decrease in state assets bankruptcy percentage, improved transparency and efficiency in corporate management, increase in profits, and hence in dividend payments, successful privatizations leading to increased budget revenue, independent professionals (directors) in the administration of companies, personnel lift, fight against corruption. The announced results correlate well with both the May and other decrees of the President and the Government of the Russian Federation.