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Dividend policy of state-owned enterprises

Author

Listed:
  • Miroslav Nedelchev

    (Higher education Department, Ministry of education and science)

Abstract

The purpose of the article is to present the dividend policy of state-owned enterprises in Bulgaria. Economic reforms over the past 30 years have attracted public attention to state ownership and its contributions to the society and economy. The “principal-agent” theory is accepted as a basis in the corporate governance of state-owned enterprises. The findings of the article define the dividends of state-owned enterprises both as a part of the budget policy and as a tool for the implementation of large economic projects. The statutory grounds for state ownership are not reflected in the annual financial reports of state-owned enterprises. The lack of a state ownership policy, including a clear and predictable policy on the dividends of state-owned enterprises, can lead to a number of problems such as macroeconomic imbalances and increasing domestic debt.

Suggested Citation

  • Miroslav Nedelchev, 2024. "Dividend policy of state-owned enterprises," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 12(2), pages 60-73.
    • Handle: RePEc:neo:epjour:v:12:y:2024:i:2:p:60-73
    DOI: 10.37708/ep.swu.v12i2.5
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    More about this item

    Keywords

    Bulgaria; corporate governance; agent theory;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government

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