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Author: Cheng Han Tan Publisher: ISBN: Category : Languages : en Pages : 27
Book Description
State owned enterprises are generally regarded as inefficient firms because of political objectives, external interference, and corruption. Notwithstanding this, studies have shown that Singapore state owned enterprises exhibit higher valuations than those of non-GLCs after controlling for firm specific factors and also have better corporate governance practices. In this paper, the authors posit an explanation. This explanation draws on the political, social and economic context that Singapore found herself in during the period of self-governance to the early years of independence from the late 1950s to the early 70s. The paper offers the view that the difficult economic conditions coupled with a contested democratic political environment in Singapore during this period played a significant role in fostering good political governance in Singapore which was in turn transposed to her state owned enterprises.
Author: Cheng Han Tan Publisher: ISBN: Category : Languages : en Pages : 27
Book Description
State owned enterprises are generally regarded as inefficient firms because of political objectives, external interference, and corruption. Notwithstanding this, studies have shown that Singapore state owned enterprises exhibit higher valuations than those of non-GLCs after controlling for firm specific factors and also have better corporate governance practices. In this paper, the authors posit an explanation. This explanation draws on the political, social and economic context that Singapore found herself in during the period of self-governance to the early years of independence from the late 1950s to the early 70s. The paper offers the view that the difficult economic conditions coupled with a contested democratic political environment in Singapore during this period played a significant role in fostering good political governance in Singapore which was in turn transposed to her state owned enterprises.
Author: Farhad Taghizadeh-Hesary Publisher: Springer Nature ISBN: 9811585741 Category : Political Science Languages : en Pages : 341
Book Description
This book analyzes state-owned enterprises (SOEs), which are still significant players in many Asian economies. They provide essential public services, build and operate key infrastructure, and are often reservoirs of public employment. Their characteristics and inherent competitive advantages as publicly owned enterprises allow them to play these critical roles. Their weaknesses in governance and inefficiencies in incentive structures, however, also often lead to poor performance. SOEs must be efficient, transparent, and accountable to level the playing field for private companies, secure the growth of a vibrant private sector, and achieve sustained and inclusive economic growth. This book analyzes the reform of SOEs in Asia, the results of which are mixed. The volume concludes that some key conditions generally need to be met for SOE reforms to be successful: national bureaucracies must have the capacity to implement the reforms, and adverse impacts on international trade and investment must be avoided.
Author: Hui Ying Sng Publisher: World Scientific ISBN: 9814340901 Category : Business & Economics Languages : en Pages : 219
Book Description
"One of the key themes of this book is to study economic crises and financial crises, and the policy measures that are available to manage them. The second key theme of the book is to review several public policies in Singapore, such as competition, healthcare, training, free trade agreements, state capitalism and inequality."--Publisher's description.
Author: Hong Sheng Publisher: World Scientific ISBN: 9814383848 Category : Business & Economics Languages : en Pages : 407
Book Description
The Nature, the Performance, and the Reform of State-owned Enterprises provides a detailed description of state-owned enterprises (SOEs) in China with respect to both efficiency and income distribution. It shows that state ownership in the form of SOEs does not use resources efficiently and has a poor record in income distribution. Moreover, SOEs are found to enjoy unfair advantages in their competition with other firms. To illustrate the point, the book presents data revealing how favored policies, monopolistic powers, and subsidies benefit SOEs. These advantages are worth several trillion yuans a year. It is a sad irony that such wealth of the people is used to beef up the revenues of the SOEs, making their accounts look much better than they should be.This book, with its rich empirical data and information, is an authoritative reference for researchers interested in SOEs. It is also a good read for students of social sciences and the public to learn more about SOEs.
Author: C. Y. Ng Publisher: Institute of Southeast Asian Studies ISBN: 981305543X Category : Business & Economics Languages : en Pages : 178
Book Description
This study is a collaborative effort between officials and researchers from the transitional economy of Vietnam and researchers from the market economies of Japan and ASEAN.The first section covers aspects of the reform process undertaken in Vietnam as perceived by Vietnamese officials and scholars, and includes rare data and statistics. Section two deals with relevant aspects of the process of deregulation, liberalization and privatization experienced in Japan and the ASEAN countries. The final section provides recommendations for consideration by Vietnam’s economic reform planners. Vietnam became a member of ASEAN on 1 July 1995. This study can possibly contribute to Vietnam’s integration into the ASEAN economies.
Author: Edimon Ginting Publisher: Asian Development Bank ISBN: 9292622838 Category : Business & Economics Languages : en Pages : 355
Book Description
State-owned enterprises (SOEs) play significant roles in developing economies in Asia and SOE performance remains crucial for economy-wide productivity and growth. This book looks at SOEs in Azerbaijan, Indonesia, Kazakhstan, the People's Republic of China, and Viet Nam, which together present a panoramic view of SOEs in the region. It also presents insights from the Republic of Korea on the evolving role of the public sector in various stages of development. It explores corporate governance challenges and how governments could reform SOEs to make them efficient drivers of the long-term productivity-induced growth essential to Asia's transition to high-income status.
Author: OECD. Publishing Publisher: ISBN: 9789264237032 Category : Government business enterprises Languages : en Pages : 0
Book Description
This publication is a first response of the OECD to the issue of what role is, or can be, assigned to SOEs as part of national development strategies. The first part of the publication overviews the experiences of five countries (Brazil, China, India, Singapore and South Africa) with using SOEs, and other government-controlled entities as agents of their development strategies. The second part reviews the growing internationalisation of SOEs through foreign trade and investment. These show implications that the usefulness of SOEs in promoting economic development hinges on a number of factors, not least the level of economic development at the beginning of the process. Indeed, if the government's ambition is to follow a development path already trod by numerous comparable nations it is relatively easy to hammer out a strategy and provide the SOEs with company-specific objectives toward the fulfilment of the strategy. However, experience also shows that some crucial conditions generally need to be met for such SOE-based strategies to be successful, taking into account the capacity of national bureaucracies and avoiding possible adverse impacts on international trade and investment.
Author: Christopher C. Chen Publisher: ISBN: Category : Languages : en Pages : 29
Book Description
This paper explores the effect of Temasek Holdings Pte Ltd, one of Singapore's two prominent sovereign wealth funds, on the corporate governance of its target companies in Singapore. It compares companies associated with Temasek with the other listed companies on the Singapore Exchange that form the components of the Straits Times Index. Based on these companies' 2012 annual reports, this paper finds that the companies in which Temasek has direct stakes have a higher proportion of independent directors and are more likely to have an independent director serving as chairman, indicating a higher quality of corporate governance. However, Temasek's success is not necessarily a result of law, but may have more to do with its self-disciplinary nature and the hands-off approach of the Singaporean government. This means that the Temasek model may not easily be copied by state-owned enterprises in other countries. However, the fact that Temasek plays like an active investor and complies with corporate law may prove that state-owned enterprises may still enjoy a higher quality of corporate governance, and that sovereign wealth funds may behave akin to responsible investors.
Author: Cheng Han Tan
Author: Cheng Han Tan
Author: Philip Nalliah Pillai
Author: Farhad Taghizadeh-Hesary
Author: Hui Ying Sng
Author: Hong Sheng
Author: C. Y. Ng
Author: 
Author: Edimon Ginting
Author: OECD. Publishing
Author: Christopher C. Chen