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    Efficient Management of State-Owned Enterprises: Challenges and Opportunities

    Kim, Chul Ju; Ali, Zulfiqar | December 2017
    Abstract
    State-owned enterprises (SOEs) are classified as those enterprises in which the state exerts significant control through full, majority, or significant minority ownership. This definition includes SHOEs that are owned by the central or federal government as well as the ones owned by regional and local governments (Sturesson, McIntyre, and Jones 2015). Despite a wave of privatization in the last 3 decades, SOEs still contribute significantly to economic growth of both developed and developing countries (Robinett 2006). For example, SOEs account for about 30% of gross domestic product (GDP) in the People’s Republic of China (PRC), 38% in Viet Nam, 25% in India and Thailand, and about 15% in Malaysia and Singapore (OECD 2010). In 2005, they accounted for more than 50% of GDP in Tajikistan, Turkmenistan, and Uzbekistan and about 20%–40% in other Central Asian countries respectively (World Bank Group 2014a). If we include those firms in which the state owns more than 50% of their total shares, directly and indirectly, at the national or subnational level, then 10% of the world’s largest firms (204 enterprises) could be classified as SOEs with a net worth amounting to $3.6 trillion. Figure 1 details the equally weighted shares of SOEs in assets, sales, and market value of the top 10 firms in the selected countries to show which countries have the highest presence of SOEs among their firms. SOEs’ presence in rapidly developing countries such as the PRC (96%), the United Arab Emirates (88%), the Russian Federation (81%), Indonesia (69%), and Malaysia (68%) is higher compared with more developed countries such as Germany (11%) and Finland (13%) (Büge et al. 2013).
    Citation
    Kim, Chul Ju; Ali, Zulfiqar. 2017. Efficient Management of State-Owned Enterprises: Challenges and Opportunities. © Asian Development Bank Institute. http://hdl.handle.net/11540/7796. License: CC BY 3.0 IGO.
    ISSN
    2411-6734
    Keywords
    Government
    Institutional Framework
    Public Administration
    Business Ethics
    Political Leadership
    Public enterprises
    Public finance
    Governance
    Corporate Governance Reform
    Governance Approach
    Governance Quality
    Public Sector Projects
    Public Sector Reform
    Political Leadership
    Political Power
    Institutional Framework
    Government
    Government accounting
    Government
    Political obligation
    Public management
    Government accountability
    Transparency in government
    Political ethics
    Government spending policy
    Government services
    Democracy
    Democratization
    Elections
    Local government
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    Citable URI
    http://hdl.handle.net/11540/7796
    Metadata
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    adbi-pb2017-4.pdf (668.6Kb)
    Author
    Kim, Chul Ju
    Ali, Zulfiqar
    Theme
    Governance
    Public Sector
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise