Clan In Ukraine: Analysis of a Mode of Hybrid Governance in a Transitional Economy
This article investigates the existing relationship between political resources of the firm and its efficiency. Our results indicate that the application of this mode of governance helps firms to survive when they face crises. Thanks to their political connections, firms achieve to capture necessary subsidies. This mode of hybrid governance corresponds to a rent-extracting mechanism that can be found in economies with an imperfect market (such as transitional countries).