IDEAS home Printed from https://ideas.repec.org/a/ipf/finteo/v33y2009i3p329-362.html
   My bibliography  Save this article

Towards Efficient Public Sector Asset Management

Author

Listed:
  • Mihaela Grubisic

    (The Institute of Economics, Zagreb)

  • Mustafa Nusinovic

    (The Institute of Economics, Zagreb)

  • Gorana Roje

    (The Institute of Economics, Zagreb)

Abstract

Governments are accountable for providing quality public services to their citizens at the most favourable terms. They are, among other issues, responsible for managing a diversified public asset portfolio. This paper examines one of the critical financial challenges in Croatia: managing public sector assets efficiently. It attempts to facilitate better understanding of public asset management as an integral part of public sector reforms. The lack of reliable information on public assets in place hinders determination of the assets’ value, budgeting for asset management activities and evaluating public asset portfolio performance. As a result, assets are managed on an ad-hoc, often reactive basis. Starting from the concept that public authorities have to be fully accountable to the public, we propose the preconditions necessary for commencing proper public asset management practice in Croatia. Our model might help other countries that are also faced with public asset management inefficiency.

Suggested Citation

  • Mihaela Grubisic & Mustafa Nusinovic & Gorana Roje, 2009. "Towards Efficient Public Sector Asset Management," Financial Theory and Practice, Institute of Public Finance, vol. 33(3), pages 329-362.
  • Handle: RePEc:ipf:finteo:v:33:y:2009:i:3:p:329-362
    as

    Download full text from publisher

    File URL: http://www.ijf.hr/eng/FTP/2009/3/grubisic-nusinovic-roje.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Olov Olson & Christopher Humphrey & James Guthrie, 2001. "Caught in an evaluatory trap: a dilemma for public services under NPFM," European Accounting Review, Taylor & Francis Journals, vol. 10(3), pages 505-522.
    2. Noel Hepworth, 2003. "Preconditions for Successful Implementation of Accrual Accounting in Central Government," Public Money & Management, Taylor & Francis Journals, vol. 23(1), pages 37-44, January.
    3. Katarzyna Kosmala MacLullich & Calin Gurau, 2004. "The Relationship between Economic Performance and Accounting System Reform in the CEE Region: The Cases of Poland and Romania," CERT Discussion Papers 0406, Centre for Economic Reform and Transformation, Heriot Watt University.
    4. Mr. Dimitar Radev & Mr. Richard I Allen, 2006. "Managing and Controlling Extrabudgetary Funds," IMF Working Papers 2006/286, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fco. Javier García-Gómez & Víctor Fco. Rosales-Prieto & Alberto Sánchez-Lite & José Luis Fuentes-Bargues & Cristina González-Gaya, 2021. "An Approach to Sustainability Risk Assessment in Industrial Assets," Sustainability, MDPI, vol. 13(12), pages 1-23, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Adriana TIRON-TUDOR & Teodora Viorica FĂRCAŞ & Ioana DRAGU & Ecaterina Monica MOISE, 2020. "Non-Financial Reporting in Romania in the pre-Directive 2014/95/EU Period (1990-2013)," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(5), pages 63-72, May.
    2. J. Christiaens & V. Van Peteghem, 2004. "Governmental Accounting Reform: Evolution Of The Implementation In Flemish Municipalities," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/256, Ghent University, Faculty of Economics and Business Administration.
    3. Bracci, Enrico, 2009. "Autonomy, responsibility and accountability in the Italian school system," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(3), pages 293-312.
    4. Antonella Paolini & Michela Soverchia, 2013. "Le universit? statali italiane verso la contabilit? economico-patrimoniale ed il controllo di gestione," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2013(3), pages 77-98.
    5. Maria Antónia Jesus & Susana Jorge, 2010. "From Governmental Accounting to National Accounting: Implications on the Portuguese Central Government Deficit," Notas Económicas, Faculty of Economics, University of Coimbra, issue 31, pages 24-46, June.
    6. Irlan Fery, 2018. "The Influence of Information Technology on Application of Accrual Accounting," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(3), pages 194-208, July.
    7. Mark Christensen & Peter Skærbæk, 2007. "Framing and overflowing of public sector accountability innovations," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 20(1), pages 101-132, March.
    8. Sabrina Gigli & Marco Tieghi, 2017. "La riforma del sistema informativo-contabile degli atenei italiani. Una proposta di analisi del nuovo modello di bilancio," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2017(1), pages 61-90.
    9. Jazmín Sánchez & David Pincay, 2013. "La Contabilidad Pública en América Latina y el Devengo en Ecuador," Analítika, Analítika - Revista de Análisis Estadístico/Journal of Statistical Analysis, vol. 6(2), pages 19-29, Diciembre.
    10. Hanane Jafi & Said Youssef, 2021. "Public sector accounting education and training as supportive mechanisms of the ongoing accrual-based accounting reforms," Technium Social Sciences Journal, Technium Science, vol. 25(1), pages 1-8, November.
    11. Gloria Agyemang, 2009. "Responsibility and accountability without direct control?," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 22(5), pages 762-788, June.
    12. Evelyne Lande & Sébastien Rocher, 2011. "Prerequisites for applying accrual accounting in the public sector," Public Money & Management, Taylor & Francis Journals, vol. 31(3), pages 219-222, May.
    13. Marius Deac, 2013. "Romanian Accounting - A Tale of Two Standards," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 13(1), pages 89-98.
    14. Vincenzo Sforza & Riccardo Cimini, 2017. "Running the Obstacle Race towards Public Accounting Harmonization in EU-28: A Temporal Study," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(3), pages 1-49, February.
    15. Lorne Cummings & Maria Dyball & Jessica (Jin Hua) Chen, 2010. "Voluntary Disclosures as a Mechanism for Defining Entity Status in Australian Not-for-Profit Organisations," Australian Accounting Review, CPA Australia, vol. 20(2), pages 154-164, June.
    16. Gudrun Baldvinsdottir & Inga-Lill Johansson, 2006. "Responsibility in action: expressions of values in a Swedish company," Qualitative Research in Accounting & Management, Emerald Group Publishing, vol. 3(2), pages 112-125, July.
    17. Gaia Bassani & Cristiana Cattaneo, 2017. "Pratiche di controllo di gestione nel contesto sanitario italiano: i cambiamenti in atto nel Sistema Sociosanitario Lombardo," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2017(3), pages 11-29.
    18. Dr Kayode Ismaila ASHAJU & Professor Ofuan James ILABOYA & Professor Alade Sule OMOYE Author-Workplace-NameDepartment of Accounting, Faculty of Management Sciences, University of Benin, Benin City, Ni, 2024. "International Public Sector Accounting Standards Implementation Resources and Government Financial Reporting Quality: The Moderating Influence of Institutional Culture," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(8), pages 1394-1411, August.
    19. Antonella Cifalin? & Irene Eleonora Lisi, 2015. "La misurazione delle performance dei servizi domiciliari e residenziali tra riforme istituzionali e applicazioni locali," MECOSAN, FrancoAngeli Editore, vol. 2015(93), pages 9-32.
    20. Tatiana Garanina & Henri Hussinki & Johannes Dumay, 2021. "Accounting for intangibles and intellectual capital: a literature review from 2000 to 2020," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5111-5140, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ipf:finteo:v:33:y:2009:i:3:p:329-362. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martina Fabris (email available below). General contact details of provider: https://edirc.repec.org/data/ijfffhr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.