Broadening the Ownership of State-Owned Enterprises
A Comparison of Governance Practices
The State continues to remain an important shareholder in listed companies worldwide,
especially among emerging economies, which rely increasingly on mixed-ownership models.
With the benefit of hindsight and more recent examples, this book provides fresh perspectives
on the motivation to list state-owned enterprises (SOEs) and the process it entails.
Drawing from the experiences of five economies (People's Republic of China, India,
New Zealand, Poland and Turkey), the book concludes that broadened ownership generally
has a positive impact on the governance and performance of these companies. However,
country practices show that the act of listing cannot guarantee that these companies
are completely averse to State interests; and deviations from sound corporate governance
practices, as enshrined in the OECD Guidelines on Corporate Governance of SOEs, can
in some cases, raise concerns with regards to non-State shareholder rights, commercial
orientation, board independence, conflicting State objectives, transparency, disclosure