Competition Policy and Comparative Corporate Governance of State-Owned Enterprises
Brigham Young University Law Review, Vol. 2009, No. 1713-1812, 2009
University of Florida Levin College of Law Research Paper No. 2010-02
101 Pages Posted: 12 Feb 2010
Date Written: February 5, 2010
Abstract
The legal origins literature overlooks a key area of corporate governance - the governance of state-owned enterprises (“SOEs”). There are key theoretical differences between SOEs and publicly-traded corporations. In comparing the differences of both internal and external controls of SOEs, none of the existing legal origins allow for effective corporate governance monitoring. Because of the difficulties of undertaking a cross-country quantitative review of the governance of SOEs, this Article examines, through a series of case studies, SOE governance issues among postal providers. The examination of postal firms supports the larger theoretical claim about the weaknesses of SOE governance across legal origins. In itself, the lack of effective corporate governance would not be fatal if some of the SOE’s inefficient and societal-welfare-reducing behavior could be remedied under antitrust law. However, a review of antitrust decisions on the issue of predatory pricing by SOEs reveals that antitrust is equally ineffective in its attempts to monitor SOEs. This Article concludes by identifying a number of devices to reduce the current inadequacies of both antitrust and corporate governance of SOEs.
Keywords: corporate governance, state owned enterprises, antitrust, competition, regulation, comparative governance, comparative law
JEL Classification: G30, G38, K21, K22, L43, L44, L51, L52, M14
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Legal Origins and Modern Stock Markets
By Mark J. Roe
-
Culture, Law, and Corporate Governance
By Amir N. Licht, Chanan Goldschmidt, ...
-
Shareholder Protection: A Leximetric Approach
By Priya Lele and Mathias Siems
-
The Evolution of Labour Law: Calibrating and Comparing Regulatory Regimes
By Simon Deakin, Priya Lele, ...
-
By Sofie Cools
-
By Sofie Cools