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Theories Of Corporate Governance At State-Owned Enterprises

Author

Listed:
  • Spartak Keremidchiev

    (Economic Research Institute, Bulgarian Academy of Sciences)

  • Miroslav Nedelchev

    (Economic Research Institute, Bulgarian Academy of Sciences)

Abstract

The aim of the article is to present the application of basic theories of corporate governance in state-owned enterprises. The modern theories of corporate governance were developed and applicable in the private sector only. State ownership fulfills more than one goal and makes it difficult to apply a specific theory of corporate governance. The results of the article give grounds for applying a specific theory to an individual stateowned enterprise. For the correct application of a given theory, it is necessary to disclose information to determine the goals of the state enterprise and to specify the stakeholders. The mechanical application of theories of corporate theories from the private sector to state-owned enterprises reduces the significance of each theory and leads to incorrect conclusions

Suggested Citation

  • Spartak Keremidchiev & Miroslav Nedelchev, 2020. "Theories Of Corporate Governance At State-Owned Enterprises," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(2), pages 61-71.
    • Handle: RePEc:neo:journl:v:17:y:2020:i:2:p:61-71
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    agency theory; stewardship theory; stakeholder theory;
    All these keywords.

    JEL classification:

    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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