Corporate Governance of State-Owned Enterprises: The Case of Healthcare Establishments in Bulgaria

Miroslav Nedelchev

Economic Studies journal, 2019, issue 1, 115-123

Abstract: The aim of the survey is to present the current situation of state ownership and its governance in Bulgaria. As a basis for good practices, the guidelines for corporate governance of state-owned enterprises by the Organization for Economic Cooperation and Development (2015) are used. The survey includes 65 healthcare establishments with concentrated state ownership.The results of the survey show that the joint stock company and the sole ownership are preferred by the state due to their opportunity for control over the management of ownership. Regardless of the declared objectives of the state policy on social orientation of the healthcare sector, the data indicate that the priority of the healthcare establishments are mainly the financial results. The practices of corporate governance of state-owned enterprises are formed by three external factors: concentrated state ownership, social functions of state-owned enterprises, and the importance of healthcare for economic development.

JEL-codes: G34 H51 I18 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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