THEORIES OF CORPORATE GOVERNANCE APPLIED TO STATE-OWNED ENTERPRISES

Abstract

The theories on corporate governance influence both the private and the public sector but need to be adapted to the context of implementation. The aim of the paper is to identify and present the main theories that influence the governance of state-owned enterprises (SOEs), providing the theoretical framework for future studies that analyze the application of corporate governance theories in the case of the mentioned organizations. The theories discussed in the current paper are the agency theory, the stakeholder theory, the resource dependency theory, and the institutional theory. The article focuses on SOEs since they have an important role in the economy, but the research on this topic is still scarce.