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Corporate Governance as an instrument of change state owned Corporate Governance as an instrument of change state owned companies: The case of the Hellenic Telecommunications Organization

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Author Info

  • Loukas Spanos

    (National & Kapodistrian University of Athens Dept. of Economics)

  • Demetrios Papoulias

    (National & Kapodistrian University of Athens Dept. of Economics)

Abstract

This paper analyses the evolution of Corporate Governance (CG) mechanisms and organizational changes of the Hellenic Telecommunication Organization (HTO) and has two objectives: to enrich the debate and to contribute to the increasing body of literature by examining and analyzing the organizational and institutional changes taken place in the HTO; and to place the HTO’s case within the international debate regarding the privatization of state-owned companies and the importance of CG mechanisms as instruments of change. It is argued that the privatization of state-owned companies, when is accompanied with appropriate reform measures, can produce multiple positive effects. CG reforms were the main instruments that used in order to prepare the telecommunications incumbent to face the open and competitive markets.

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File URL: http://128.118.178.162/eps/fin/papers/0508/0508004.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Finance with number 0508004.

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Length: 32 pages
Date of creation: 02 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpfi:0508004

Note: Type of Document - pdf; pages: 32
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Web page: http://128.118.178.162

Related research

Keywords: Corporate Governance Hellenic Telecommunications Organization (HTO); state-owned companies; privatization; change;

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  1. Jones, Steven L. & Megginson, William L. & Nash, Robert C. & Netter, Jeffry M., 1999. "Share issue privatizations as financial means to political and economic ends," Journal of Financial Economics, Elsevier, vol. 53(2), pages 217-253, August.
  2. Bel, Germà & Trillas, Francesc, 2005. "Privatization, corporate control and regulatory reform: the case of Telefonica," Telecommunications Policy, Elsevier, vol. 29(1), pages 25-51, February.
  3. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
  4. Paul H. Malatesta & Kathryn L. DeWenter, 2001. "State-Owned and Privately Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity," American Economic Review, American Economic Association, vol. 91(1), pages 320-334, March.
  5. Mathias Dewatripont & Eric Maskin, 2004. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository 2013/9605, ULB -- Universite Libre de Bruxelles.
  6. Faccio, Mara & Lang, Larry H. P., 2002. "The ultimate ownership of Western European corporations," Journal of Financial Economics, Elsevier, vol. 65(3), pages 365-395, September.
  7. Boardman, Anthony E & Vining, Aidan R, 1989. "Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises," Journal of Law and Economics, University of Chicago Press, vol. 32(1), pages 1-33, April.
  8. Goldstein Andrea E., 2000. "Corporate Governance and Regulation in Privatized Utilities: Telecommunications in Four European Countries," Business and Politics, De Gruyter, vol. 2(2), pages 1-36, August.
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