Effects Of Corporate Governance On The Performance Of State Owned Enterprises
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Effects Of Corporate Governance On The Performance Of State Owned Enterprises
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Author : Kyoungsun Heo
language : en
Publisher:
Release Date : 2018
Effects Of Corporate Governance On The Performance Of State Owned Enterprises written by Kyoungsun Heo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
State-owned enterprises play an important role in economic growth and the delivery of critical public services such as health, education, water, and energy. The underperformance of state-owned enterprises can lead to significant challenges in overall national growth and competitiveness and pose a fiscal risk to the government. Consequently, improving the performance of state-owned enterprises remains an important issue for policy makers and development practitioners. More recently, efforts to strengthen corporate governance have been gaining international momentum as a means to improve the performance of state-owned enterprises. This study aims to examine the relationship between corporate governance and the performance of state-owned enterprises. Using data from 320 state-owned enterprises in the Republic of Korea, the study examines the effects of corporate governance on various measures of state-owned enterprise performance, including performance evaluation results, customer satisfaction, and financial performance. The empirical results indicate that board size, corporatization, and transparency and disclosure are positively related to the performance of state-owned enterprises, suggesting that they have an impact on the efficiency of state-owned enterprises. Independence of the board of directors and separation between the positions of board chair and chief executive officer have an insignificant or negative impact on specific measures of performance. These results suggest that a larger board, corporatization of state-owned enterprises, and more transparent disclosure practices can be beneficial for the performance of state-owned enterprises.
Broadening The Ownership Of State Owned Enterprises A Comparison Of Governance Practices
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2016-02-04
Broadening The Ownership Of State Owned Enterprises A Comparison Of Governance Practices written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-04 with categories.
The State continues to remain an important shareholder in listed companies worldwide. This book provides fresh perspectives on the motivation to list state-owned enterprises (SOEs) and the process it entails.
State On Board
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Author : Nga Pham
language : en
Publisher: Springer Nature
Release Date : 2021-09-01
State On Board written by Nga Pham and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-01 with Political Science categories.
Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.
Corporate Governance Of State Owned Enterprises
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Author : World Bank Publications
language : en
Publisher: World Bank Publications
Release Date : 2014-10-02
Corporate Governance Of State Owned Enterprises written by World Bank Publications and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-02 with Business & Economics categories.
This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.
Financial Performance In Indian State Owned Enterprises Following Corporate Governance Reforms
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Author : Stuart Locke
language : en
Publisher:
Release Date : 2018
Financial Performance In Indian State Owned Enterprises Following Corporate Governance Reforms written by Stuart Locke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Research question: This paper empirically examines the impact of corporate governance reforms on the financial performance of Indian state-owned enterprises (SOEs) for the period 2003-2011.Research findings/insights: The findings indicate that the various corporate governance reforms collectively exhibited a statistically significant positive impact on performance when a difference in difference estimation process is used. However, the performance of SOEs is less than that of publicly listed companies, which is consistent with prior research. When the SOEs are compared with a matched pairing of publicly listed companies of similar size and same industry, their performance was comparable and in many instances superior. This is indicative of the regulatory constraints on competitors and preferential access to resources and markets given to the SOEs. As SOEs move towards a more mixed ownership model with more of them listed on the stock exchange and greater public ownership of shares the corporate governance issues will increase in importance.Theoretical/academic implications: The controlled sell down of shares in SOEs presents a need for continuing governance reforms and ongoing research to track progress.Practitioner/policy implications: The most striking observation from the study is that changes that were introduced as a corporate governance reform, such greater professionalism in boards, did not gain traction and enhance performance, rather the process of director selection and the concentrated bureaucratic and political interference stymied what was asserted to be conceptually sound reforms.
Corporate Governance Of State Owned Enterprises
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Author : Organisation for Economic Co-operation and Development
language : en
Publisher: Org. for Economic Cooperation & Development
Release Date : 2005
Corporate Governance Of State Owned Enterprises written by Organisation for Economic Co-operation and Development and has been published by Org. for Economic Cooperation & Development this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This publication gives a comparative review of corporate governance practices in relation to state-owned enterprises in OECD countries, including scale and organisation, board composition and functions, relationships with non-state shareholders, the role of stakeholders transparency and disclosure.
Corporate Governance Of State Owned Enterprises A Survey Of Oecd Countries
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2005-12-16
Corporate Governance Of State Owned Enterprises A Survey Of Oecd Countries written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-16 with categories.
Presents the OECD Guidelines on Corporate Governance of State-Owned Enterprises as well as a comparative overview of main practices and issues related to corporate governance of state-owned enterprises in the OECD area.
Governance Arrangements For State Owned Enterprises
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Author : Maria Vagliasindi
language : en
Publisher: World Bank Publications
Release Date : 2008
Governance Arrangements For State Owned Enterprises written by Maria Vagliasindi and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Accountability categories.
Abstract: The aim of this paper is to shed new light on key challenges in governance arrangements for state owned enterprises in infrastructure sectors. The paper provides guidelines on how to classify the fuzzy and sometimes conflicting development goals of infrastructure and the governance arrangements needed to reach such goals. Three policy recommendations emerge. First, some of the structures implied by internationally adopted principles of corporate governance for state owned enterprises favoring a centralized ownership function versus a decentralized or dual structure have not yet been sufficiently "tested" in practice and may not suit all developing countries. Second, general corporate governance guidelines (and policy recommendations) need to be carefully adapted to infrastructure sectors, particularly in the natural monopoly segments. Because the market structure and regulatory arrangements in which state owned enterprises operate matters, governments may want to distinguish the state owned enterprises operating in potentially competitive sectors from the ones under a natural monopoly structure. Competition provides not only formidable benefits, but also unique opportunities for benchmarking, increasing transparency and accountability. Third, governments may want to avoid partial fixes, by tackling both the internal and external governance factors. Focusing only on one of the governance dimensions is unlikely to improve SOE performance in a sustainable way.
Corporate Governance Accountability And Transparency A Guide For State Ownership
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-02-02
Corporate Governance Accountability And Transparency A Guide For State Ownership written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-02 with categories.
This guide provides viable policy options and a step-by-step road map on how to address typical difficulties, risks and hurdles that may be encountered in the governance of state-owned enterprises.
Corporate Governance State Ownership And Firm Performance
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Author :
language : en
Publisher:
Release Date : 2018
Corporate Governance State Ownership And Firm Performance written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Objective - The purpose of this research is to determine the effect of good corporate governance (GCG) on Indonesia's SOEs and the influence of state ownership on company performance.Methodology/Technique - This study examines State Owned Enterprises in Indonesia that were listed on the Indonesia Stock Exchange between 2011 and 2015.Findings - The empirical results show that GCG and state ownership both have a positive influence on the company's financial performance (in this case, Return On Assets). However, the percentage of state ownership has a negative effect on the relationship between Good Corporate Governance and Return On Assets.Novelty - One agency cost is monitoring expenditure by the principal. Privatization is one way to improve the performance of SOEs. Privatization is believed to improve the performance of SOEs, as a result of increased supervision of the performance of SOEs in Indonesia.