Original scientific paper
State and Company
Nina Širola
; Faculty of law, University of Zagreb, Zagreb, Croatia
Siniša Petrović
; Faculty of law, University of Zagreb, Zagreb, Croatia
Abstract
The paper gives a comprehensive analysis of the specificities of the governance of state-owned enterprises. The authors focus on companies providing services of general interest, rest and are thus not allowed to focus exclusively on profit accumulation but must also protect the service they carry provide. The national legal framework regulating the structure and rules of governance of corporations is explained. Specifics of the ownership, management and control functions are presented. The reasons for the separation of ownership, management and control functions are analyzed. Current solutions, practices, and their shortcomings are considered. The role of state officials at general meetings (or shareholders’ meetings) and supervising bodies is examined. Special attention is paid to the comparative review of ownership, management and control functions exercised by the state, comparing them to Croatian solutions. Furthermore, certain suggestions are put forward regarding the state property governance system; the authors indicate that main characteristics of the state property management system should be efficiency, transparency, guaranteed performance of services of general interest and equal treatment of entrepreneurs. Finally, it is concluded that the legislative basis of the Croatian state property governance system should be altered in order to centralize their governance within one body and if the state-owned enterprises are to be managed properly, they will have to incorporate established modern managerial techniques.
Keywords
company; state; ownership function; management function; control function; state officials
Hrčak ID:
54998
URI
Publication date:
28.6.2010.
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