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- Title
Public Corporate Governance öffentlicher Unternehmen in der Kritik: Befunde und Anregungen aus einer Untersuchung in der Schweiz.
- Authors
Rieder, Stefan; Lienhard, Andreas; Sohi-Höchner, Claudia
- Abstract
Public corporate governance is a challenge for the state. This is demonstrated by errors committed by public enterprises, which are often late to be recognised and thus result in negative consequences. According to the principal-agent theory, these errors are due to an asymmetry of information between the owner and its enterprise. In order to counter this asymmetry, the organisation of instruments, information flows and the allocation of tasks on the part of the owner is crucial. This contribution formulates and evaluates the theoretical requirements for the public corporate governance of state-owned enterprises based on four case studies from the postal, telecommunications, armaments, and rail industries. The results show that defects in public corporate governance are not so much due to a lack of instruments as to the way in which these instruments are applied. In addition, it is demonstrated that both centralised and decentralised organisation models are equally suitable for running a public enterprise.
- Subjects
CORPORATE governance; GOVERNMENT business enterprises; INFORMATION &; communication technologies; INFORMATION asymmetry; TELECOMMUNICATION; INSTRUMENT landing systems; RAILROADS; REVOLVING funds (Public finance)
- Publication
Der Moderne Staat, 2023, Vol 16, Issue 1, p206
- ISSN
1865-7192
- Publication type
Article
- DOI
10.3224/dms.v16i1.12