Publication:
Governance in State-Owned Enterprises Revisited : The Cases of Water and Electricity in Latin America and the Caribbean

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dc.contributor.authorLópez Azumendi, Sebastián
dc.contributor.authorAndrés, Luis Alberto
dc.contributor.authorGuasch, José Luis
dc.date.accessioned2012-03-19T18:03:43Z
dc.date.available2012-03-19T18:03:43Z
dc.date.issued2011-08-01
dc.description.abstractThis paper studies the governance structure of state-owned enterprises in the water and electricity sectors of Latin America and the Caribbean. Through a unique dataset, the paper compares 44 leading state companies of the region based on an aggregate measure of corporate governance and six salient aspects of their design: board, chief executive officer, performance orientation, management, legal framework, and transparency/disclosure. The results indicate the need for improvement in areas such as the selection and appointment of directors to the board and the performance-orientation of the enterprises. The paper also highlights the importance of discussing the management of state-owned enterprises in the wider context of public sector governance, with particular focus on accountability. Moreover, it recognizes the role of accountability as central in the management of state-owned enterprises, recommending a better understanding of regulation and performance management. The paper finds a positive correlation between corporate governance and the utilities' performance. Among the different aspects of corporate governance, performance orientation and professional management seem to be the highest contributors to well-performing state-owned enterprises. State-owned enterprises in the electricity sector show higher governance levels than those in the water sector.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110801150940
dc.identifier.doi10.1596/1813-9450-5747
dc.identifier.urihttps://hdl.handle.net/10986/3508
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research Working Paper ; No. 5747
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTABILITY MECHANISMS
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectAGENCY COSTS
dc.subjectAUDITING
dc.subjectAUDITORS
dc.subjectAUTHORITY
dc.subjectAUTONOMY
dc.subjectBOARD MEMBERS
dc.subjectBUREAUCRACY
dc.subjectBUSINESS CORPORATION
dc.subjectCEO
dc.subjectCEOS
dc.subjectCHIEF EXECUTIVE
dc.subjectCITIZENS
dc.subjectCIVIL SERVICE
dc.subjectCIVIL SOCIETY
dc.subjectCOLLUSION
dc.subjectCOMMERCIAL LAW
dc.subjectCOMPANY
dc.subjectCOMPETITIVE BEHAVIOR
dc.subjectCONCESSION AGREEMENT
dc.subjectCONSOLIDATION
dc.subjectCONSTITUENCY
dc.subjectCONVENTIONAL WISDOM
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE GOVERNANCE CODE
dc.subjectCORPORATE LAW
dc.subjectCORPORATE STRATEGIES
dc.subjectCORPORATE STRUCTURE
dc.subjectCORPORATIONS
dc.subjectCORPORATIZATION
dc.subjectCORRUPTION
dc.subjectCRITICAL IMPORTANCE
dc.subjectCUSTOMER SERVICES
dc.subjectDEBT
dc.subjectDECENTRALIZATION
dc.subjectDECISION MAKING
dc.subjectDECISION MAKING POWER
dc.subjectDECISION-MAKING
dc.subjectDECISION-MAKING BODY
dc.subjectDELIVERY OF SERVICES
dc.subjectDISCLOSURE
dc.subjectECONOMIC REGULATION
dc.subjectEMERGING MARKETS
dc.subjectENTERPRISE DEVELOPMENT
dc.subjectENTERPRISE REFORM
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectEXPANSION
dc.subjectEXPANSION OF SERVICE
dc.subjectEXTERNAL ACCOUNTABILITY
dc.subjectFINANCIAL DISCLOSURE
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL TRANSPARENCY
dc.subjectGOVERNANCE ARRANGEMENTS
dc.subjectGOVERNANCE DIMENSIONS
dc.subjectGOVERNANCE EFFECTIVENESS
dc.subjectGOVERNANCE INDICATORS
dc.subjectGOVERNANCE STRATEGIES
dc.subjectGOVERNMENT AGENCY
dc.subjectGOVERNMENT AUTHORITIES
dc.subjectGOVERNMENT COMPANIES
dc.subjectGOVERNMENT CORPORATIONS
dc.subjectGOVERNMENT ENTITIES
dc.subjectGROUP OF COMPANIES
dc.subjectGROWTH RATES
dc.subjectHOLDING COMPANY
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN RESOURCES
dc.subjectINCOME
dc.subjectINCOME LEVELS
dc.subjectINCORPORATED
dc.subjectINDEPENDENT AUDIT
dc.subjectINDEPENDENT DIRECTORS
dc.subjectINDUSTRIAL TARIFFS
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINFRASTRUCTURE PRIVATIZATION
dc.subjectINSOLVENCY
dc.subjectINSTITUTIONAL ARRANGEMENT
dc.subjectINSTITUTIONAL SHAREHOLDERS
dc.subjectINSTITUTIONAL SYSTEMS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectLABOR PRODUCTIVITY
dc.subjectLACK OF ACCOUNTABILITY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL REQUIREMENTS
dc.subjectLIMITED
dc.subjectLIMITED LIABILITY
dc.subjectLISTING OF COMPANIES
dc.subjectMANAGERS
dc.subjectMANUFACTURERS
dc.subjectMUNICIPALITY
dc.subjectNATIONAL ASSOCIATION
dc.subjectNATIONS
dc.subjectOPERATIONAL PERFORMANCE
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPARLIAMENT
dc.subjectPARLIAMENTARY OVERSIGHT
dc.subjectPERFORMANCE INDICATORS
dc.subjectPERSONS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL INFLUENCE
dc.subjectPOLITICIANS
dc.subjectPRESIDENCY
dc.subjectPRIVATE COMPANIES
dc.subjectPRIVATE COMPANY
dc.subjectPRIVATE ENTERPRISE
dc.subjectPRIVATE ENTERPRISES
dc.subjectPRIVATE FIRM
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATE PARTNERSHIPS
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectPRIVATE UTILITIES
dc.subjectPROFITABILITY
dc.subjectPROVISION OF INFRASTRUCTURE
dc.subjectPROVISION OF INFRASTRUCTURE SERVICES
dc.subjectPROVISION OF SERVICES
dc.subjectPROXY
dc.subjectPUBLIC ACCOUNTABILITY
dc.subjectPUBLIC ADMINISTRATION
dc.subjectPUBLIC COMPANIES
dc.subjectPUBLIC CORPORATION
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC FINANCING
dc.subjectPUBLIC HEARINGS
dc.subjectPUBLIC MANAGEMENT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR GOVERNANCE
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectPUBLIC SERVICE
dc.subjectPUBLIC UTILITIES
dc.subjectPUBLIC WATER
dc.subjectPUBLIC-PRIVATE PARTNERSHIPS
dc.subjectQUALITY OF SERVICE
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY AGENCY
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY POLICIES
dc.subjectREPRESENTATIVES
dc.subjectRESIDENTIAL TARIFFS
dc.subjectSERVICE PROVIDERS
dc.subjectSERVICE PROVISION
dc.subjectSERVICE QUALITY
dc.subjectSHAREHOLDER
dc.subjectSHAREHOLDERS
dc.subjectSKILLED WORKERS
dc.subjectSMALL COMPANIES
dc.subjectSMALLER COMPANIES
dc.subjectSOCIETY
dc.subjectSTAKEHOLDERS
dc.subjectSTATE ACTION
dc.subjectSTATE ENTERPRISE
dc.subjectSTATE ENTERPRISES
dc.subjectSTATE OWNED ENTERPRISES
dc.subjectSTATE OWNERSHIP
dc.subjectSTATE SECTOR
dc.subjectSTATE SUBSIDIES
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKETS
dc.subjectSUBSIDIARIES
dc.subjectTARIFF INCREASES
dc.subjectTAX OBLIGATION
dc.subjectTAX OBLIGATIONS
dc.subjectTAX REGIME
dc.subjectTRADE UNIONS
dc.subjectTRANSPARENCY
dc.subjectTRANSPARENT DISCLOSURE
dc.subjectUNDUE INFLUENCE
dc.subjectUNIONS
dc.subjectVESTED INTERESTS
dc.subjectVETO
dc.subjectVOTING
dc.subjectWAGES
dc.subjectWATER COMPANIES
dc.subjectWATER COVERAGE
dc.subjectWATER SECTOR
dc.subjectWATER SUPPLY
dc.subjectWATER TARIFFS
dc.subjectWATER UTILITIES
dc.titleGovernance in State-Owned Enterprises Revisited : The Cases of Water and Electricity in Latin America and the Caribbeanen
dspace.entity.typePublication
okr.crossref.titleGovernance in State-Owned Enterprises Revisited: The Cases of Water and Electricity in Latin America and the Caribbean
okr.date.disclosure2011-08-01
okr.date.doiregistration2025-04-10T11:20:01.624070Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110801150940
okr.globalpracticeGovernance
okr.guid757311468046775569
okr.identifier.doi10.1596/1813-9450-5747
okr.identifier.externaldocumentum000158349_20110801150940
okr.identifier.internaldocumentum14700092
okr.identifier.reportWPS5747
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/08/01/000158349_20110801150940/Rendered/PDF/WPS5747.pdfen
okr.region.administrativeLatin America & Caribbean
okr.topicGovernance::National Governance
okr.topicGovernance::Governance Indicators
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication5e24cc05-1fcb-56fb-8bcc-021bbf7e50b0
relation.isAuthorOfPublication4cc9b022-436f-51a0-b40d-6c4438bbced2
relation.isAuthorOfPublication.latestForDiscovery5e24cc05-1fcb-56fb-8bcc-021bbf7e50b0
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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