Value added distribution in Russian corporations: case of Gazprom

Abstract

The modern Russian economy is basically the economy of corporations, both public and private. For this reason, the peculiarities of economic relations between the main centers of power in corporations and outside them, affect the results and efficiency of the economy. Corporations are becoming instruments of geopolitical influence, establishing economic ties with neighboring countries even under conditions of external pressure. One of the typical Russian corporations today is Gazprom, the largest gas producer. It combines the strengths of both the state and private corporations. The article considers in detail the distribution of value added to Gazprom according to the consolidated financial statements for 2012-2017. It reveals trends and patterns that allow to determine the strengths and weaknesses of this corporation as a driver of the development of the Russian economy. The main stakeholders (state, employees, top management and creditors) are identified. The research uses methods of synthesizing the partial indicators of various forms of reporting, data from Gazprom’s official website and open sources. The uniqueness of the research consists in the author’s method of calculating the amounts of value added received by each stakeholder. The role of the State as the main stakeholder of the corporation Gazprom is justified.