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

Zuzana Brinčíková, Marek Kálovec, Colin W. Lawson, Eva Muchová
2018 Scientific Annals of Economics and Business  
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
more » ... 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.
doi:10.2478/saeb-2018-0027 fatcat:dtv3kumbpffnvhg7xllidohmzq