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Managerial Autonomy of State-Owned Enterprises: Determining Factors

Author

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  • S. Lioukas

    (Department of Management Science and Marketing, Athens University of Economics and Business, 76 Patission Street, Athens 104-34, Greece)

  • D. Bourantas

    (Department of Management Science and Marketing, Athens University of Economics and Business, 76 Patission Street, Athens 104-34, Greece)

  • V. Papadakis

    (London Business School, Sussex Place, Regent's Park, London NW1 4SA, Great Britain)

Abstract

The present paper reports on managerial autonomy of state-owned enterprises (SOEs), or its reverse: the control which is exerted by government and supervising public authorities on SOEs. First, it examines the types of control applied. Using evidence from a sample of 110 Greek SOEs, the paper identifies certain distinct dimensions of control related to: strategic business-boundary issues, pricing decisions, resource acquisition and mobilisation issues. Second, environmental and organisational “determinants” of the control intensity are identified. Results broadly suggest that the intensity of control, as perceived by enterprise managers, is (i) positively related to dependence on the state for resources, to enterprise size, and to “political visibility,” i.e., social orientation of product market strategy, and (ii) negatively related to market competition and demand unpredictability. An interpretation of the results is attempted drawing on wider organisational, social and economic theories. Policy implications are discussed.

Suggested Citation

  • S. Lioukas & D. Bourantas & V. Papadakis, 1993. "Managerial Autonomy of State-Owned Enterprises: Determining Factors," Organization Science, INFORMS, vol. 4(4), pages 645-666, November.
    • Handle: RePEc:inm:ororsc:v:4:y:1993:i:4:p:645-666
    DOI: 10.1287/orsc.4.4.645
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    8. Shouming Chen & Kaidi Xu & Luu Thi Nguyen & Guangsheng Yu, 2018. "TMT’s Attention towards Financial Goals and Innovation Investment: Evidence from China," Sustainability, MDPI, vol. 10(11), pages 1-18, November.
    9. Yidi Guo & Quy Nguyen Huy & Zhixing Xiao, 2017. "How middle managers manage the political environment to achieve market goals: Insights from China's state‐owned enterprises," Strategic Management Journal, Wiley Blackwell, vol. 38(3), pages 676-696, March.
    10. Chang, Eric C. & Wong, Sonia M.L., 2004. "Political control and performance in China's listed firms," Journal of Comparative Economics, Elsevier, vol. 32(4), pages 617-636, December.
    11. Deng, Ziliang & Yan, Jiayan & van Essen, Marc, 2018. "Heterogeneity of political connections and outward foreign direct investment," International Business Review, Elsevier, vol. 27(4), pages 893-903.
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    13. Ciprian Stan & Mike Peng & Garry Bruton, 2014. "Slack and the performance of state-owned enterprises," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 473-495, June.
    14. Timo Tremml & Sabine Löbbe & Andreas Kuckertz, 2022. "Board behavior’s impact on entrepreneurial orientation in public enterprises," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1183-1211, December.
    15. Aguilera, Ruth & Duran, Patricio & Heugens, P.P.M.A.R. & Sauerwald, Steve & Turturea, Roxana & VanEssen, Marc, 2021. "State ownership, political ideology, and firm performance around the world," Journal of World Business, Elsevier, vol. 56(1).
    16. Landoni, Matteo, 2020. "Knowledge creation in state-owned enterprises," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 77-85.
    17. Rodrigues, Suzana B. & Dieleman, Marleen, 2018. "The internationalization paradox: Untangling dependence in multinational state hybrids," Journal of World Business, Elsevier, vol. 53(1), pages 39-51.
    18. Huang, Yuanyuan & Xie, En & Li, Yu & Reddy, K.S., 2017. "Does state ownership facilitate outward FDI of Chinese SOEs? Institutional development, market competition, and the logic of interdependence between governments and SOEs," International Business Review, Elsevier, vol. 26(1), pages 176-188.
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    20. Carole RENTSCH & Matthias FINGER, 2015. "Yes, No, Maybe: The Ambiguous Relationships Between State-Owned Enterprises And The State," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(4), pages 617-640, December.

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