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Corporate Governance of State-Owned Enterprises: The Case of Healthcare Establishments in Bulgaria

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  • Miroslav Nedelchev

Abstract

The aim of the survey is to present the current situation of state ownership and its governance in Bulgaria. As a basis for good practices, the guidelines for corporate governance of state-owned enterprises by the Organization for Economic Cooperation and Development (2015) are used. The survey includes 65 healthcare establishments with concentrated state ownership.The results of the survey show that the joint stock company and the sole ownership are preferred by the state due to their opportunity for control over the management of ownership. Regardless of the declared objectives of the state policy on social orientation of the healthcare sector, the data indicate that the priority of the healthcare establishments are mainly the financial results. The practices of corporate governance of state-owned enterprises are formed by three external factors: concentrated state ownership, social functions of state-owned enterprises, and the importance of healthcare for economic development.

Suggested Citation

  • Miroslav Nedelchev, 2019. "Corporate Governance of State-Owned Enterprises: The Case of Healthcare Establishments in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 115-123.
    • Handle: RePEc:bas:econst:y:2019:i:1:p:115-123
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    References listed on IDEAS

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    1. Tsvetanova, Yulia, 2014. "Features of Internal Audit in Pharmaceutical Industry," MPRA Paper 56344, University Library of Munich, Germany.
    2. Tatyana Houbenova-Delissivkova, 2012. "A worthy contribution to the scientific studies of modern capitalism and the international monetary and financial system," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 168-170.
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    More about this item

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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