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

The transformation of property relations in the association “Sevryba” will, in any case, take the form of the establishment of a joint-stock company. The only distinction is the way of carrying it out and the type of the leading (coordinating) organ of the basin. In this section we consider the formation of a joint-stock firm when the whole property of “Sevryba” becomes private or an association of enterprises with different forms of property is formed. We have given arguments against making “Sevryba” a single joint-stock association. However, theoretically this variant is possible. The process of stock joining must be carried out on the basis of a decision adopted by the State Committee of Property of the Russian Federation concerning the association as a whole and by a single commission on privatization. The directorate of “Sevryba” can act as a founder alongside the State Committee for Property. Every enterprise receives a share of the joint-stock capital in proportion to the cost of its property at the time when the joint-stock firm is being formed. All enterprises which have the rights of a legal person retain their operative economic independence. In the second case, a number of joint-stock companies are established on the basis of separate enterprises and associations. Each of them carries out the privatization process independently, including the issue of securities on the basis of decisions of the State Committee for Property of the Russian Federation. In order to coordinate their activities at the level of the basin, the joint-stock companies and the enterprises that remain as the state property are combined into an association. Below, we consider problems connected with the formation of joint-stock companies both on the basis of separate enterprises and on the basis of “Sevryba” as a whole. When state enterprises become joint-stock companies, their legal status changes. The reason for the transformation is a decision of the work collective and the state organ which is the owner of the means of production based on the propositions of the Law on privatization of state and municipal enterprises and the State Program for Privatization. Before beginning privatization, aims can be defined which must be reached as a result of this act, and the mechanism of the achievement of these aims must be worked out. In other words, it must be quite clear what advantages must be obtained by the associations and separate members as the subjects of management (by legal persons) and work collectives as social groups with quite definite interests. We can point out at least three aims: to increase the economic efficiency at the expense of the organizational and managing factors, to interest all members of the work collectives in the improvement of the results of their economic activity with their becoming the owners of the enterprises (shareholders), to attract additional funds (investment resources) for the maintenance and reconstruction of an enterprise. Obviously, these aims can only be achieved when the financial position of a firm or a company is sufficiently stable and ensures the necessary level of dividends paid. In the first case (a single joint- stock firm), an additional condition is the possession of the controlling block of shares. It can be 1 1 6