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A Survey of the Autonomy, Accountability, Effectiveness and Governance of Slovak State-Owned Enterprises

Author

Listed:
  • Brinčíková Zuzana

    (Department of Economics, University of Economics in Bratislava, Slovakia)

  • Kálovec Marek

    (Department of Economics, University of Economics in Bratislava, Slovakia)

  • Lawson Colin W.

    (Department of Economics, University of Bath, United Kingdom)

  • Muchová Eva

    (Department of Economics, University of Economics in Bratislava, Slovakia)

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.

Suggested Citation

  • Brinčíková Zuzana & Kálovec Marek & Lawson Colin W. & Muchová Eva, 2018. "A Survey of the Autonomy, Accountability, Effectiveness and Governance of Slovak State-Owned Enterprises," Scientific Annals of Economics and Business, Sciendo, vol. 65(4), pages 427-442, December.
    • Handle: RePEc:vrs:aicuec:v:65:y:2018:i:4:p:427-442:n:5
    DOI: 10.2478/saeb-2018-0027
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    References listed on IDEAS

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    1. Colin Lawson & Ben Kaluwa, 1996. "The efficiency and effectiveness of Malawian parastatals," Journal of International Development, John Wiley & Sons, Ltd., vol. 8(6), pages 747-765.
    2. Massimo Florio, 2014. "Contemporary public enterprises: innovation, accountability, governance," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 17(3), pages 201-208, July.
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    More about this item

    Keywords

    state-owned enterprises; corporate governance of state-owned enterprises; accountability; effectiveness; principal-agent;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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