Running Business Like a Government in the New Economy: Lessons for Organisational Design and Corporate Governance
Corporate Governance: The International Journal of Business in Society, Forthcoming
25 Pages Posted: 3 Jun 2004
Abstract
Principal-agent problems are largely responsible for poor corporate governance. Much work on private sector corporate governance reform seeks to address transparency, accountability and responsiveness to stakeholder interests under the new category of corporate social responsibility. Yet, these issues are not new. The public sector has been working on these issues for many years - especially in looking at ways of reducing malfeasance and also optimizing use of resources for the benefit of principals. Some lessons from public sector reform include promoting information dissemination, participation, and balancing powers between a corporation's executive and supervisory entities. While firms should not necessarily be administered like governmental bodies, there are many lessons from public sector organisational reform and institutional governance that may be applicable to large-scale public corporations.
Keywords: corporate governance, public sector reform
JEL Classification: G30
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Transparency and Credibility: Monetary Policy with Unobservable Goals
By Jon Faust and Lars E. O. Svensson
-
Social Value of Public Information: Morris and Shin (2002) is Actually Pro Transparency, Not Con
-
Transparency of Information and Coordination in Economies with Investment Complementarities
-
Transparency of Information and Coordination in Economies with Investment Complementarities
-
Efficient Use of Information and Social Value of Information