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Implementing the OECD Guidelines on Corporate Governance of State-Owned Enterprises: Review of Recent Developments

image of Implementing the OECD Guidelines on Corporate Governance of State-Owned Enterprises: Review of Recent Developments

The OECD Guidelines on Corporate Governance of State-Owned Enterprises have provided an internationally agreed benchmark to help governments assess and improve the way they exercise their ownership functions since 2005. This report documents changes in state ownership and SOE governance in both OECD and partner economies and assesses the extent to which the Guidelines have served as a “roadmap for reform” in individual countries since 2015, following the most recent update of the Guidelines. Drawing on practices in up to 31 jurisdictions, it covers organising the state enterprise ownership function; safeguarding a level playing field between SOEs and private businesses; equitable treatment of shareholders and other investors; stakeholder relations and responsible business; transparency and disclosure practices; and professionalising boards of directors. The report supports policy makers by facilitating greater awareness and more effective implementation of the Guidelines.

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Foreword

Governments in both mature and emerging economies are important owners of commercial enterprises and corporatised assets. These state-owned enterprises (SOEs) are an important part of a majority of world economies, including the most advanced ones. SOEs are most common in strategic sectors such as energy, minerals, infrastructure, other utilities and, in some countries, financial services. Ensuring that governments efficiently manage these assets is therefore crucial for the competitiveness of the broader enterprise sector, economic growth and sustainable development more generally.

English

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