Corporate Governance of State-Owned Enterprises: A Survey Of by Organization for Economic Cooperation &

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Extra resources for Corporate Governance of State-Owned Enterprises: A Survey Of OECD Countries

Sample text

Moreover, in some countries, the data provided refers to different years: Belgium’s data concerning listed SOEs and market capitalization are from 2004; the Czech Republic’s data on the number of SOEs refer partly to 2001 and partly to 2003; the New Zealand value added of SOEs refers to 1999 and the Turkish total equity and asset value refer to end 2003. In order to homogenize data from different countries, the 2003 $ PPP exchange rates have been used. Australia, to a maximum of 115 for the Slovak Republic.

The JCPAA Report 372 findings were tabled in Parliament on 16 February 2000. Offering a detailed examination and evaluation of the existing GBE governance framework, the Committee’s report on GBE governance arrangements includes a number of key recommendations. Recommendation 1: That the Minister for Finance and Administration review the applicability of administrative law to current and future GBEs on a case by case basis. Recommendation 2: That all portfolio Ministers be removed from their government business enterprise shareholder responsibilities, but remain as the responsible Minister under GBEs’ enabling legislation.

But the Finnish government estimates that since then the SOE’s environment and governance has evolved significantly, both internationally and nationally, justifying a revision of the Government decision-in-principle. To this end, the Ministry of Trade and Industry, presently in charge of the co-ordination with other Ministries regarding the ownership policy, has set up a Working Group to prepare for the centralisation of the state’s ownership function. An outside expert (Matti Vuoria) was commissioned to write a report on the state ownership policy, make a proposal for the revision and clarify decision-making related to the state ownership policy.

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