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Governance Framework of the Centre of Government

Author

Listed:
  • Petrovska Elina

    (University of Latvia, Riga, Latvia)

  • Berzins Gundars

    (University of Latvia, Riga, Latvia)

Abstract

Research purpose. The study aims to analyse the existing governance framework within the Centre of Government (CoG) in Latvia, exploring operational functions of the CoG, including function implemented by the CoG – to participate in all selection and nomination processes of members of the supervisory boards of state-owned enterprises (SOEs), and to provide proposals for strengthening the governance framework of the CoG. Design / Methodology / Approach. To compose the framework of the study, the state institutions that constitute the CoG in Latvia were first identified. In the next step of the study, according to the structure defined for the Latvian CoG, a literature review and data analysis were conducted on: (a) governance and its key principles of good governance in public administration and corporate governance, (b) the operational functions performance within the CoG, including its participation in the process of members selection and nomination for the supervisory boards of SOEs. Based on the study results, suggestions for the system of criteria for the governance framework of the CoG were developed. Findings. Following the study into the governance framework of the CoG, it is discovered that effectiveness indicators are underused, and quality indicators need rationalization. The findings of the study suggest that the quality of the operational functions of CoG can be measured through the outcomes of the selection and nomination process for potential members of the supervisory boards of SOEs. Based on the study results, the following additional findings were made: (a) in order to achieve good corporate governance results in the selection and nomination process, it is necessary to utilize several additional criteria, which are essential not only for enhancing the effectiveness of the operational functions of CoG but also for effectiveness of the supervisory boards of SOEs; (b) to effectively ensure the development planning system’s process, thereby strengthening its governance, transparency and compliance throughout public administration, there is a necessity in Latvia to enhance the effectiveness of the document development, approval, and monitoring processes. Originality / Value / Practical implications. Proposed is a practically applicable criteria system, which allows to monitor and evaluate the management process at the CoG, thereby timely identifying areas of improvement and enhancing the overall quality of governance. The criteria system developed within the study can be flexibly adapted to governance framework development outside Latvia, particularly concerning issues related to the selection and nomination process and effective policy planning management. An original study approach has been implemented since the process of selection and nomination of supervisory board members of SOEs is considered in relation to the operational functions of the CoG.

Suggested Citation

  • Petrovska Elina & Berzins Gundars, 2024. "Governance Framework of the Centre of Government," Economics and Culture, Sciendo, vol. 21(2), pages 107-122.
    • Handle: RePEc:vrs:ecocul:v:21:y:2024:i:2:p:107-122:n:1007
    DOI: 10.2478/jec-2024-0022
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    References listed on IDEAS

    as
    1. Kuo, Nan-Ting & Lee, Cheng-Few, 2024. "Public governance and the demand for corporate governance: The role of political institutions," Research in International Business and Finance, Elsevier, vol. 67(PB).
    2. Andrew Davies & Péter Vági, 2023. "The role and functions of the centre of government in the European Neighbourhood Policy East region," SIGMA Papers 67, OECD Publishing.
    3. Adam Yahya Jafeel & Yousif Abdelbagi Abdalla & Alaa Amin Abdalla & Mohammed Hersi Warsame, 2023. "How corporate governance quality affects investment efficiency? An empirical analysis of nonfinancial companies in the Gulf Cooperation Council 2015-2020," Cogent Business & Management, Taylor & Francis Journals, vol. 10(1), pages 2198061-219, December.
    4. World Bank, 2013. "World Development Indicators 2013," World Bank Publications - Books, The World Bank Group, number 13191, April.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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