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How Can The Efficiency Of Corporate Governance In Serbian State-Owned Enterprises Be Increased?

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  • Ana Aleksić Mirić
  • Miroslav Todorović
  • Nebojša Janićijević

Abstract

This paper focuses on the practical coexistence of agency and stewardship theories. By analysing the three dimensions of government structures, compensation schemes, and monitoring activities, we show that this coexistence is possible due to several situational factors. Using field research data, we examine the causes of this coexistence and the effects it has on the efficiency and effectiveness of corporate governance, and question the practical sustainability of this dualism. We conclude that coexistence is possible but is unsustainable, and it would be wrong to support such a situation for a long period of time. We discuss paths of potential action and their implications for key stakeholders

Suggested Citation

  • Ana Aleksić Mirić & Miroslav Todorović & Nebojša Janićijević, 2018. "How Can The Efficiency Of Corporate Governance In Serbian State-Owned Enterprises Be Increased?," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 63(216), pages 63-84, January –.
    • Handle: RePEc:beo:journl:v:63:y:2018:i:216:p:63-84
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    References listed on IDEAS

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    Cited by:

    1. Spartak Keremidchiev & Miroslav Nedelchev, 2020. "Foreign models and policies for state-owned enterprises," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 3-14,15-25.

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    More about this item

    Keywords

    corporate governance; agency theory; stewardship theory; state-owned enterprise;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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