Korelsky, V. F. Fish, fishermen and fish industry in Russia / V. F. Korelsky. - Bremen : Krebs, [1993?]-.

instructions and methodological documents. All this entailed the abuse of power and the growth of social discontent. Nevertheless, the advantages of holding companies, especially for northern regions, are indisputable, and the necessity of their formation is ensured by the privatization law. Holding companies use their means for a concentration of capital. They acquire the controlling block of shares and get the possibility of maneuvring it with the aim of developing and renovating the production and increasing the profit. Because of their specific nature, holding companies are especially expedient under the conditions of wide-scale privatization. The attempts to smooth somewhat the social tension connected with the explicit and implicit struggle for the shares of prospective highly profitable enterprises under the conditions when there is practically no market and securities may be only successful if the population is suggested the securities not of some definite industrial enterprises but of the shares of large holding companies with balanced profits. The scheme of formation of holding companies is based on a stage-by-stage creation of joint- stock companies. At the first stage, a state holding firm is established. The founder of the holding firm is the Committee of the management of the state property or its territorial departments. As an investment into the registered fund of the holding firm, the Committee gives it the rights of the ownership of the state property of the sectoral or territorial group of state enterprises. In exchange the committee gets shares of the holding firm. At the second stage, in conjunction with work collectives, the holding firm buys out the shares of state enterprises and, as the owner of the state property, gets the controlling block of shares of the joint-stock companies being formed. The formation of a state holding firm (the 1st stage) and its gradual transformation into a holding firm with mixed property (2nd stage) is caused by the common industrial and economic interests and also by the fact that for a long time the resources of the shelf and the major part of the property of the enterprises will belong to the state. State holding firms and holding firms with mixed property are prevalent in countries with market economy and are very efficient. It can be expected that documents concerning the norms and methods of their formation will soon appear. Thus, the analysis of the efficiency of the present-day associating management structure in the basins and the experience of other countries, as well as the privatization process in Russia, show that it is expedient to transform the association “Sevryba” into a holding firm. 4.3.3. A Variant of Transformation of Enterprises with Different Forms of Property into a Joint-Stock Company or into an Association 1 1 5