SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested
Following previous research on management efficiency of state-owned enterprises (SOEs) in Lithuania, this paper continues previous discussion via extension of the observed time period seeking to continuously analyze the impact of corporate governance principles to the management effectiveness of Li...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Vilnius University Press
2023-05-01
|
| Series: | Ekonomika |
| Subjects: | |
| Online Access: | https://www.zurnalai.vu.lt/ekonomika/article/view/29833 |
| _version_ | 1797817394085756928 |
|---|---|
| author | Liudas Jurkonis Šarūnas Merkliopas Deividas Gabulas |
| author_facet | Liudas Jurkonis Šarūnas Merkliopas Deividas Gabulas |
| author_sort | Liudas Jurkonis |
| collection | DOAJ |
| description |
Following previous research on management efficiency of state-owned enterprises (SOEs) in Lithuania, this paper continues previous discussion via extension of the observed time period seeking to continuously analyze the impact of corporate governance principles to the management effectiveness of Lithuanian SOEs.
For the purpose of this study, elements of corporate governance principles established in the initial reform of the SOEs in Lithuania are used as key dependent variables to measure and quantify the dynamics of corporate governance culture and its impact to the management efficiency of SOEs. Analysis performed is of a special importance as it covers the 10-year period (2010–2020) and could serve as a case study in analyzing practical implications of managerialism principles in public sector and SOEs specifically.
New public management paradigm (Politt, 1993) combined with policy learning theory (Bennett, Howlett, 1992) are used as the theoretical background to explain the initiation and logical framework of SOE reform as well as the selection of variables used in this study. Additionally, principles of corporate governance established by OECD and other international organizations (OECD, 2015) are also used to enrich the analytical framework.
The results of the analysis do not only prove that the implementation of corporate governance principles has a positive influence on the efficiency of management of SOEs, but also reveals additional factors that were not identified in the previous research – this impact is not static, but rather dynamic changing in accordance with the maturity of managerial practices within SOEs. The revealed dynamic nature of effects of the SOE policy should lead to the continuation of research seeking to expand it both geographically and vertically including other governmental organizations into the scope of future research.
|
| first_indexed | 2024-03-13T08:52:47Z |
| format | Article |
| id | doaj.art-fa6235c1369e49679331dc3591a1b41a |
| institution | Directory Open Access Journal |
| issn | 1392-1258 2424-6166 |
| language | English |
| last_indexed | 2024-03-13T08:52:47Z |
| publishDate | 2023-05-01 |
| publisher | Vilnius University Press |
| record_format | Article |
| series | Ekonomika |
| spelling | doaj.art-fa6235c1369e49679331dc3591a1b41a2023-05-29T09:47:11ZengVilnius University PressEkonomika1392-12582424-61662023-05-01102110.15388/Ekon.2023.102.1.7SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically TestedLiudas Jurkonis0Šarūnas Merkliopas1Deividas Gabulas2Vilnius University, Institute of International Relations and Political ScienceVilnius University, Institute of International Relations and Political ScienceVilnius University, Institute of International Relations and Political Science Following previous research on management efficiency of state-owned enterprises (SOEs) in Lithuania, this paper continues previous discussion via extension of the observed time period seeking to continuously analyze the impact of corporate governance principles to the management effectiveness of Lithuanian SOEs. For the purpose of this study, elements of corporate governance principles established in the initial reform of the SOEs in Lithuania are used as key dependent variables to measure and quantify the dynamics of corporate governance culture and its impact to the management efficiency of SOEs. Analysis performed is of a special importance as it covers the 10-year period (2010–2020) and could serve as a case study in analyzing practical implications of managerialism principles in public sector and SOEs specifically. New public management paradigm (Politt, 1993) combined with policy learning theory (Bennett, Howlett, 1992) are used as the theoretical background to explain the initiation and logical framework of SOE reform as well as the selection of variables used in this study. Additionally, principles of corporate governance established by OECD and other international organizations (OECD, 2015) are also used to enrich the analytical framework. The results of the analysis do not only prove that the implementation of corporate governance principles has a positive influence on the efficiency of management of SOEs, but also reveals additional factors that were not identified in the previous research – this impact is not static, but rather dynamic changing in accordance with the maturity of managerial practices within SOEs. The revealed dynamic nature of effects of the SOE policy should lead to the continuation of research seeking to expand it both geographically and vertically including other governmental organizations into the scope of future research. https://www.zurnalai.vu.lt/ekonomika/article/view/29833state-owned enterprisescorporate governancemanagement efficiency |
| spellingShingle | Liudas Jurkonis Šarūnas Merkliopas Deividas Gabulas SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested Ekonomika state-owned enterprises corporate governance management efficiency |
| title | SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested |
| title_full | SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested |
| title_fullStr | SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested |
| title_full_unstemmed | SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested |
| title_short | SOE Corporate Governance Reform in Lithuania - Explained & Еmpirically Tested |
| title_sort | soe corporate governance reform in lithuania explained еmpirically tested |
| topic | state-owned enterprises corporate governance management efficiency |
| url | https://www.zurnalai.vu.lt/ekonomika/article/view/29833 |
| work_keys_str_mv | AT liudasjurkonis soecorporategovernancereforminlithuaniaexplainedempiricallytested AT sarunasmerkliopas soecorporategovernancereforminlithuaniaexplainedempiricallytested AT deividasgabulas soecorporategovernancereforminlithuaniaexplainedempiricallytested |