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Corporate Governance of State-Invested Enterprises

In: State on Board!

Author

Listed:
  • Nga Pham

    (Monash University)

  • Kok-Boon Oh

    (eGalaxy Solutions)

Abstract

This chapter starts with a review of the literature on state ownership and state control and its implications for corporate governance and business performance in emerging markets. Next, the chapter discusses the practical corporate governance challenges arising from having the state shareholder in equitised businesses—state-invested enterprises (SIEs) in Vietnam. The government owner has different ownership motivations, limited monitoring and oversight capacity over company management and restricted use of exit mechanism. Besides, the management of state capital is typically delegated through various layers of management agencies. Mixed ownership between the government owner and private investors calls for a new theoretical paradigm to understand the different motivations of SIEs in business. This chapter proposes a theoretical framework, which integrates agency and political-economic theories to explain state-invested firms’ corporate governance and performance.

Suggested Citation

  • Nga Pham & Kok-Boon Oh, 2021. "Corporate Governance of State-Invested Enterprises," Springer Books, in: State on Board!, chapter 0, pages 65-96, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-3525-0_4
    DOI: 10.1007/978-981-16-3525-0_4
    as

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