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

See all articles by Bryane Michael

Bryane Michael

University of Hong Kong Faculty of Law

Randy Gross

Independent

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

Michael, Bryane and Gross, Randy, 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, Available at SSRN: https://ssrn.com/abstract=553321

Bryane Michael (Contact Author)

University of Hong Kong Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

Randy Gross

Independent ( email )

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