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OECD Corporate Governance Working Papers

OECD Corporate Governance Working Papers provide timely analysis and information on national and international corporate governance issues and developments, including state ownership and privatisation policies. The working paper series is designed to make select studies by the OECD Corporate Governance Committee, OECD staff members and outside consultants available to a broad audience.

English

Concerns Related to the Internationalisation of State-Owned Enterprises

Perspectives from regulators, government owners and the broader business community

The rise in state-owned enterprises (SOEs) as growing actors in international trade and investment has received renewed attention in recent years, not least due to controversy that has arisen over SOE foreign investments. This has raised the profile of these issues with policy makers and tilted much of the public debate in one direction. Some concerns revolve around the intentions of these companies, or any potential competitive distortions that could be caused by them which would differentiate them from privately-owned enterprises operating under like circumstances. With a view to keeping the trade and investment environment open, this paper draws attention to particular perceptions of concerns or challenges that arise when SOEs internationalise. Although perceptions are not verifiable facts, they reveal important trends that may inform the debate and shape future government policies towards foreign trade and investment by SOEs. The information in the report is primarily drawn from findings emerging from a three-part perception-based OECD survey addressed to public officials responsible for enterprise ownership, competition enforcement, investment regulation and trade policy in addition to departments of government with broader responsibility for the enterprise and competition landscape, and/or cross-border trade and investment regulation.

English

Keywords: competitive neutrality, corporate governance, state-owned enterprises, competition, international investment, trade policy, investment policy
JEL: G38: Financial Economics / Corporate Finance and Governance / Corporate Finance and Governance: Government Policy and Regulation; F21: International Economics / International Factor Movements and International Business / International Investment; Long-term Capital Movements; G30: Financial Economics / Corporate Finance and Governance / Corporate Finance and Governance: General; G3: Financial Economics / Corporate Finance and Governance; L33: Industrial Organization / Nonprofit Organizations and Public Enterprise / Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out; G39: Financial Economics / Corporate Finance and Governance / Corporate Finance and Governance: Other; L32: Industrial Organization / Nonprofit Organizations and Public Enterprise / Public Enterprises; Public-Private Enterprises; F23: International Economics / International Factor Movements and International Business / Multinational Firms; International Business
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