Assessing Governance Structures in State-owned Enterprises using Transaction Cost Economics’ Dimensionalisation

Adeyemi Adebayo

Athens Journal of Business & Economics, 2023, vol. 9, issue 3, 303-326

Abstract: This paper illustrates how Transaction Cost Economics’ (TCE) dimensionalisation, a governance structure comparative analysis tool, may be used in assessing corporate governance structures. To illustrate, this paper assesses the governance structures of state-owned enterprises (SOEs) in South Africa and Singapore, two countries deploying different governance structures for organising SOEs. A proposition was developed in line with dimensionalisation to assess the organising models. The proposition is that SOEs organised using a bilateral governance structure are expected to perform better than those organised using a unified governance structure – since the attributes and characteristics of transactions/contracts are semi-strong in the bilateral structure, according to TCE. Findings appear to support the proposition, indicating that SOEs organised in a bilateral governance structure perform better relative to those that are organised under unified governance.

Keywords: dimensionalisation; organising models; ownership models; stateowned enterprises; transaction cost economics (TCE) (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ate:journl:ajbev9i3-4

DOI: 10.30958/ajbe.9-3-4

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