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Governance in State-Owned Enterprises Revisited : The Cases of Water and Electricity in Latin America and the Caribbean / Luis Alberto Andres
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Andres, Luis Alberto
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banks & Banking Reform.
- Corporate Governance.
- Corporate Law.
- Electricity.
- Governance.
- Governance Indicators.
- National Governance.
- Performance.
- Private Participation in Infrastructure.
- State Owned Enterprises.
- Utilities.
- Water.
- Local Subjects:
- Banks & Banking Reform.
- Corporate Governance.
- Corporate Law.
- Electricity.
- Governance.
- Governance Indicators.
- National Governance.
- Performance.
- Private Participation in Infrastructure.
- State Owned Enterprises.
- Utilities.
- Water.
- Physical Description:
- 1 online resource (28 pages)
- Other Title:
- Governance in State-Owned Enterprises Revisited
- Place of Publication:
- Washington, D.C., The World Bank, 2011
- System Details:
- data file
- Summary:
- This paper studies the governance structure of state-owned enterprises in the water and electricity sectors of Latin America and the Caribbean. Through a unique dataset, the paper compares 44 leading state companies of the region based on an aggregate measure of corporate governance and six salient aspects of their design: board, chief executive officer, performance orientation, management, legal framework, and transparency/disclosure. The results indicate the need for improvement in areas such as the selection and appointment of directors to the board and the performance-orientation of the enterprises. The paper also highlights the importance of discussing the management of state-owned enterprises in the wider context of public sector governance, with particular focus on accountability. Moreover, it recognizes the role of accountability as central in the management of state-owned enterprises, recommending a better understanding of regulation and performance management. The paper finds a positive correlation between corporate governance and the utilities' performance. Among the different aspects of corporate governance, performance orientation and professional management seem to be the highest contributors to well-performing state-owned enterprises. State-owned enterprises in the electricity sector show higher governance levels than those in the water sector.
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