Publication:
State-Owned Enterprise Restructuring : Better Performance Through the Corporate Structure and Competition

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dc.contributor.authorMuir, Russell
dc.contributor.authorSoba, Joseph
dc.date.accessioned2012-08-13T15:37:52Z
dc.date.available2012-08-13T15:37:52Z
dc.date.issued1995-10
dc.description.abstractThe legal structure of the modern corporate form has four fundamental elements--separate identity, limited liability for shareholders, centralized management, and transferability of shares. These, together with the dynamics of governance relationship between the owners, the supervisory board, and the executives of the firm, provide internal incentives for efficiency. However, the legal form alone is not sufficient to ensure efficiency. Certain external incentives must be in place for sustainable efficiency gains. Corporate performance is influenced by external pressures from competition in product, factor, debt, and equity markets and by regulation. The interplay of the internal and external incentives causes the managers to act in accordance with the goals of efficiency and profitability set by the owners. Also, it causes the modern corporation to act with a clarity and singleness of purpose. The absence of any of the internal or external incentives can seriously undermine performance.en
dc.identifierhttp://documents.worldbank.org/curated/en/1995/10/697015/state-owned-enterprise-restructuring-better-performance-through-corporate-structure-competition
dc.identifier.doi10.1596/11649
dc.identifier.urihttps://hdl.handle.net/10986/11649
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesViewpoint: Public Policy for the Private Sector; Note No. 57
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectAUDITING
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCY
dc.subjectBUREAUCRACY
dc.subjectCIVIL SERVICE
dc.subjectCOAL
dc.subjectCOMPANY
dc.subjectCOMPETITORS
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE PERFORMANCE
dc.subjectCORPORATE STRUCTURE
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectDEBT
dc.subjectECONOMIES OF SCALE
dc.subjectEMPLOYMENT
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectFINANCIAL DISCIPLINE
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFIRMS
dc.subjectGOVERNMENT AGENCY
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGOVERNMENT OWNERSHIP
dc.subjectHARD BUDGET CONSTRAINTS
dc.subjectINCOME
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINTERNATIONAL MARKETS
dc.subjectLABOR MARKET
dc.subjectLEGAL FORM
dc.subjectLEGAL STRUCTURE
dc.subjectLEGISLATION
dc.subjectMANAGERIAL AUTONOMY
dc.subjectMARKET DISCIPLINE
dc.subjectMORAL HAZARD
dc.subjectMULTINATIONAL COMPANIES
dc.subjectOIL
dc.subjectOPERATING COMPANIES
dc.subjectPOLITICIANS
dc.subjectPRESIDENCY
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCERS
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPROPERTY RIGHTS
dc.subjectREPRESENTATIVES
dc.subjectSECURITIES
dc.subjectSHAREHOLDERS
dc.subjectSTATE AGENCIES
dc.subjectSTATE OWNERSHIP
dc.subjectSTATE SUBSIDIES
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectTRANSPARENCY PUBLIC ENTERPRISES
dc.subjectLEGAL FORMS
dc.subjectEFFICIENCY
dc.subjectINCENTIVES
dc.subjectEFFICIENCY
dc.subjectDEBTS
dc.subjectEQUITY
dc.subjectMARKET COMPETITION
dc.subjectCORPORATE STRUCTURE
dc.subjectSTATE-OWNED ENTERPRISES
dc.titleState-Owned Enterprise Restructuring : Better Performance Through the Corporate Structure and Competitionen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.doiregistration2025-04-29T09:55:31.208142Z
okr.doctypePublications & Research::Viewpoint
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/1995/10/697015/state-owned-enterprise-restructuring-better-performance-through-corporate-structure-competition
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeHealth, Nutrition, and Population
okr.guid143081468763493219
okr.identifier.externaldocumentum000009265_3980420172802
okr.identifier.internaldocumentum697015
okr.identifier.report16917
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1995/10/01/000009265_3980420172802/Rendered/PDF/multi0page.pdfen
okr.sectorPublic Administration, Law, and Justice
okr.topicHealth Economics and Finance
okr.topicGovernance::National Governance
okr.topicBanks and Banking Reform
okr.topicEnvironmental Economics and Policies
okr.topicSmall Scale Enterprise
okr.topicFinance and Financial Sector Development
okr.topicIndustry
okr.topicHealth, Nutrition and Population
okr.topicEnvironment
okr.unitOff of VP
okr.unitFPD&IFC Chief Econ-WB (FPDVP)
okr.volume1 of 1
relation.isSeriesOfPublication1067ecbf-b217-4376-a77e-64594be2b212
relation.isSeriesOfPublication.latestForDiscovery1067ecbf-b217-4376-a77e-64594be2b212
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