A survey of the autonomy, accountability, effectiveness and governance of Slovak state-owned enterprises

Zuzana Brinčíková; Marek Kálovec; Colin W. Lawson; Eva Muchová

doi:10.2478/SAEB-2018-0027

A survey of the autonomy, accountability, effectiveness and governance of Slovak state-owned enterprises

Zuzana Brinčíková, Marek Kálovec, Colin W. Lawson, Eva Muchová

Department of Economics

University of Economics in Bratislava

Research output: Contribution to journal › Article › peer-review

Abstract

Fourteen Slovak state-owned enterprises were studied, using published data and structured interviews with management. A novel methodology is used to assess SOE autonomy, effectiveness, accountability and governance. Variations in operating conditions reflect different government objectives and different ownership models. Mixed state-private firms performed more like competitive firms than did wholly state-owned SOEs. This information was fed into an assessment of Slovak SOEs' compliance with the 2015 OECD Guidelines on SOE Corporate Governance. There are many differences between Slovak practice and the Guidelines. This may reflect a choice to favour government interests, rather than the OECD's inclusion of a wider group of stakeholders. One cost is foregone efficiency gains. Another is the perception that the present highly opaque governance system hides corruption.

Original language	English
Pages (from-to)	427-442
Number of pages	16
Journal	Scientific Annals of Economics and Business
Volume	65
Issue number	4
DOIs	https://doi.org/10.2478/SAEB-2018-0027
Publication status	Published - 1 Dec 2018

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 16 Peace, Justice and Strong Institutions

Keywords

Accountability
Corporate governance of state-owned enterprises
Effectiveness
Principal-agent
State-owned enterprises

ASJC Scopus subject areas

General Business,Management and Accounting
Economics, Econometrics and Finance(all)

Access to Document

10.2478/SAEB-2018-0027Licence: CC BY-NC-ND

Cite this

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abstract = "Fourteen Slovak state-owned enterprises were studied, using published data and structured interviews with management. A novel methodology is used to assess SOE autonomy, effectiveness, accountability and governance. Variations in operating conditions reflect different government objectives and different ownership models. Mixed state-private firms performed more like competitive firms than did wholly state-owned SOEs. This information was fed into an assessment of Slovak SOEs' compliance with the 2015 OECD Guidelines on SOE Corporate Governance. There are many differences between Slovak practice and the Guidelines. This may reflect a choice to favour government interests, rather than the OECD's inclusion of a wider group of stakeholders. One cost is foregone efficiency gains. Another is the perception that the present highly opaque governance system hides corruption.",

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KW - Effectiveness

KW - Principal-agent

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A survey of the autonomy, accountability, effectiveness and governance of Slovak state-owned enterprises

Abstract

UN SDGs

Keywords

ASJC Scopus subject areas

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