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

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collection.link.196
https://openknowledge.worldbank.org/handle/10986/9427
collection.name.196
Viewpoint
dc.contributor.author
Muir, Russell
dc.contributor.author
Soba, Joseph
dc.date.accessioned
2012-08-13T15:37:52Z
dc.date.available
2012-08-13T15:37:52Z
dc.date.issued
1995-10
dc.date.lastModified
2021-04-23T14:02:56Z
dc.description.abstract
The 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.identifier
http://documents.worldbank.org/curated/en/1995/10/697015/state-owned-enterprise-restructuring-better-performance-through-corporate-structure-competition
dc.identifier.uri
http://hdl.handle.net/10986/11649
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Viewpoint: Public Policy for the Private Sector; Note No. 57
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING STANDARDS
dc.subject
AUDITING
dc.subject
BANKING SYSTEM
dc.subject
BANKRUPTCY
dc.subject
BUREAUCRACY
dc.subject
CIVIL SERVICE
dc.subject
COAL
dc.subject
COMPANY
dc.subject
COMPETITORS
dc.subject
CORPORATE GOVERNANCE
dc.subject
CORPORATE PERFORMANCE
dc.subject
CORPORATE STRUCTURE
dc.subject
CORPORATION
dc.subject
CORPORATIONS
dc.subject
DEBT
dc.subject
ECONOMIES OF SCALE
dc.subject
EMPLOYMENT
dc.subject
ENTERPRISE RESTRUCTURING
dc.subject
FINANCIAL DISCIPLINE
dc.subject
FINANCIAL PERFORMANCE
dc.subject
FIRMS
dc.subject
GOVERNMENT AGENCY
dc.subject
GOVERNMENT OFFICIALS
dc.subject
GOVERNMENT OWNERSHIP
dc.subject
HARD BUDGET CONSTRAINTS
dc.subject
INCOME
dc.subject
INSTITUTIONAL INVESTORS
dc.subject
INTERNATIONAL MARKETS
dc.subject
LABOR MARKET
dc.subject
LEGAL FORM
dc.subject
LEGAL STRUCTURE
dc.subject
LEGISLATION
dc.subject
MANAGERIAL AUTONOMY
dc.subject
MARKET DISCIPLINE
dc.subject
MORAL HAZARD
dc.subject
MULTINATIONAL COMPANIES
dc.subject
OIL
dc.subject
OPERATING COMPANIES
dc.subject
POLITICIANS
dc.subject
PRESIDENCY
dc.subject
PRIVATE SECTOR
dc.subject
PRODUCERS
dc.subject
PRODUCTIVITY
dc.subject
PROFITABILITY
dc.subject
PROPERTY RIGHTS
dc.subject
REPRESENTATIVES
dc.subject
SECURITIES
dc.subject
SHAREHOLDERS
dc.subject
STATE AGENCIES
dc.subject
STATE OWNERSHIP
dc.subject
STATE SUBSIDIES
dc.subject
STATE-OWNED ENTERPRISES
dc.subject
TRANSPARENCY PUBLIC ENTERPRISES
dc.subject
LEGAL FORMS
dc.subject
EFFICIENCY
dc.subject
INCENTIVES
dc.subject
EFFICIENCY
dc.subject
DEBTS
dc.subject
EQUITY
dc.subject
MARKET COMPETITION
dc.subject
CORPORATE STRUCTURE
dc.subject
STATE-OWNED ENTERPRISES
dc.title
State-Owned Enterprise Restructuring : Better Performance Through the Corporate Structure and Competition
en
okr.crosscuttingsolutionarea
Jobs
okr.doctype
Publications & Research :: Viewpoint
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/1995/10/697015/state-owned-enterprise-restructuring-better-performance-through-corporate-structure-competition
okr.globalpractice
Environment and Natural Resources
okr.globalpractice
Finance and Markets
okr.globalpractice
Governance
okr.globalpractice
Trade and Competitiveness
okr.globalpractice
Health, Nutrition, and Population
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000009265_3980420172802
okr.identifier.internaldocumentum
697015
okr.identifier.report
16917
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1995/10/01/000009265_3980420172802/Rendered/PDF/multi0page.pdf
en
okr.sector
Public Administration, Law, and Justice
okr.topic
Health Economics and Finance
okr.topic
Governance :: National Governance
okr.topic
Banks and Banking Reform
okr.topic
Environmental Economics and Policies
okr.topic
Small Scale Enterprise
okr.topic
Finance and Financial Sector Development
okr.topic
Industry
okr.topic
Health, Nutrition and Population
okr.topic
Environment
okr.unit
Off of VP
okr.unit
FPD&IFC Chief Econ-WB (FPDVP)
okr.volume
1 of 1

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