Les établissements et entreprises publics (EEP) jouent un rôle socio-économique important et pèsent considérablement dans l'économie et les finances publiques du Maroc. Malgré les réformes réalisées dans ce domaine durant la demi.ère décennie, ces entités présentent toujours des insuffisances dans leur gestion. Celles-ci grèvent leur performance et ternissent leur réputation. Or, avec les changements qu'a connu le Maroc comme pays ouvert à l'économie libérale, les valeurs de performance, de transparence et de reddition des comptes sont devenues des exigences pressantes des citoyens, de l’État actionnaire et des autres parties-prenantes. En raison de leurs multiples avantages, les principes de gouvernance d'entreprise ainsi que les bonnes pratiques internationales qui en découlent se sont imposés au sein des sociétés privées. Ils pourraient également apporter des solutions efficaces aux problèmes des EEP au Maroc. Mais avant, certains prérequis, qui font souvent défaut, devraient être mis en place et généralisés au sein des EEP. Il s'agit notamment de la culture et des méthodes de pilotage stratégique et de suivi des performances ainsi que du renforcement des systèmes de contrôle interne, de risk management et d'audit. Ces préalables managériaux sont nécessaires à la mise en place réussie des solutions propres à la gouvernance d'entreprise dont ils forment la base. Les réformes spécifiques à la gouvernance d'entreprise des EEP doivent quant à elles être axées sur une meilleure clarification des rôles et des objectifs de la tutelle ainsi que sur la réhabilitation et la professionnalisation des conseils d'administration selon les meilleures pratiques internationales. Enfin, au-delà de l'amélioration de la performance des entreprises publiques, l'adoption de ces bonnes pratiques de gouvernance d'entreprise est de nature à aider l'Etat à restaurer la réputation de ses institutions, à les engager dans le développement durable et la responsabilité sociétale. Elle permettra aussi d'améliorer la résilience et la réactivité du pays vis-à-vis des changements juridiques et économiques rapides dans son environnement. / Public establishments and SOEs in Morocco play an important socioeconomic role and weigh heavily in the economy and public finances. Despite the reforms undertaken in this field during the last decade, these entities still display weaknesses in their management and governance. Such weaknesses hamper their performance and tarnish their reputation. With the changes experienced by Morocco as a country that is open on the liberal world, performance, transparency and accountability have become pressing requirements from citizens, from the state as an owner and from other stakeholders.Because of their multiple advantages, the principles of corporate governance and the ensuing international good practices have established within the private firms. They could similarly bring effective solutions to the issues of public establishments and SOEs in Morocco. Sorne preconditions that are still missing in this area should be put in place first, including the culture and methods of strategy and performance monitoring and measurement as well as the strengthening of the systems of internai control, risk management and audit. These managerial prerequisites are necessary for a successful implementation of corporate governance tools for which they form a foundation. Reforms that are specific to corporate governance of public establishments and SOEs should be articulated around a better clarification of the state's roles and objectives as well as on the rehabilitation and professionalization of the boards according to international best practices.Finally, beyond the improvement of the performance of SOEs, the adoption of these good practices of corporate governance would likely help the state restore the reputation of its institutions and commit them to sustainable development and social responsibility. It will equally improve the country's resilience and reactivity to the legal and economic changes in its environment.

Orientation: Over the years, the increase in executive remuneration in both the private sector and state-owned entities (SOEs) has been the subject of intense discussions. The poor performance of some SOEs with highly remunerated executives begs the question whether chief executive officers (CEOs) in South African SOEs deserve the high levels of remuneration they receive. Research purpose: The main purpose of the study was to determine whether there is a relationship between CEOs’ remuneration and company performance in South Africa’s Schedule 2 SOEs. Motivation for the study: A greater understanding of the relationship between CEO remuneration and organisational performance would expand knowledge when developing optimal CEO remuneration systems to ensure sustainability of SOEs in the South African context. If a relationship exists, it could justify the high remuneration received by CEOs. Research design, approach, and method: This quantitative, longitudinal study, conducted over a nine-year period, collected secondary data from the annual reports of 18 Schedule 2 SOEs. The primary statistical techniques used in the study included were OLS multiple regression analysis and correlational analysis on a pooled dataset. Main findings/results: The primary finding was that there is a relationship between CEO remuneration and company performance (mainly an inverse relationship), with no consistent trend between the constructs. Turnover appears to be an important component, as it was the most stable measure of company performance during the study period. The results indicate that the CEOs’ remuneration continued to increase, even when the SOEs were performing poorly. Practical managerial implications: Since the study focused on the relationship between CEOs’ remuneration and company performance, it may aid policymakers in forming new rules and regulations that would help improve the country’s economic performance while attracting international investors. Contribution/value-add: The study provides new knowledge to the limited research available on SOEs in South Africa. Further, this research focused on three different components of CEOs’ remuneration, thereby shedding more light on the relationship between their remuneration and company performance. / Business Management

No description available.

Purpose: While research on state-owned enterprises (SOEs) have been lagging, even less can be found on municipally-owned enterprises (MOEs). The authors intend to use literature covering SOEs and apply them on MOEs in an analogue fashion. This study aims to uncover similarities and differences between the two aforementioned types of public ownership and contribute to the field of MOEs. This would allow for future researchers of MOEs to know in what way previous findings on SOEs is accurate and where extra caution must be placed. The authors will also consider the implications of institutional theory and how this can be used to understand the reality MOEs find themselves in. Design/methodology/approach: The authors has employed a qualitative approach where eleven MOEs have been interviewed. All of the eleven enterprises were located in the Swedish province of Värmland. The interviews were conducted in a semi-structured fashion and the analysis was achieved through a mix of selective and open coding. Findings: Enterprises matched expectations from stakeholders, where higher demands were met with greater social care and lower expectations facilitated a business approach. Furthermore, enterprises viewed their owners as the most important stakeholders and were willing to make decisions that favored them, even if other stakeholder groups disbenefit from this. Furthermore, a combination of actively searching for legitimacy and relying on institutional theory was employed by the MOEs, which could possibly contribute to institutional theory. Research limitations/implications for future research: Further research into these matters are of interest to build on the understanding of SOEs and apply them to MOEs. It is suggested to conduct a study including MOEs of greater size, as most organizations included in this study were too small to ‘successfully’ implement non-acquiescence matters such as decoupling and mission drift. Furthermore, a case-study of a single organization would perhaps shed some light on this matter, as this study’s focus on eleven enterprises has a bit of a tendency to only scratch the surface.

Submitted by Yarui Dun (yarui0422@gmail.com) on 2017-05-17T19:30:55Z No. of bitstreams: 1 Dissertation Yarui Dun.pdf: 3370034 bytes, checksum: 0971a3c099bb023b78027e1514037a71 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2017-05-18T14:29:11Z (GMT) No. of bitstreams: 1 Dissertation Yarui Dun.pdf: 3370034 bytes, checksum: 0971a3c099bb023b78027e1514037a71 (MD5) / Made available in DSpace on 2017-05-30T17:36:05Z (GMT). No. of bitstreams: 1 Dissertation Yarui Dun.pdf: 3370034 bytes, checksum: 0971a3c099bb023b78027e1514037a71 (MD5) Previous issue date: 2017-05-02 / State capitalism, the statist planning in certain economic sectors, has generated several state-owned enterprises (SOEs) that represent a significant share of activity in the global market. Despite decades of liberalization and privatization in many countries, state ownership and state-led business activity remain widespread; yet new varieties of state capitalism have also emerged. Among these new varieties, state-controlled oil and natural gas entities, also known as nation oil companies (NOCs), represent a type of hybrid organization that specifically deserves scholars’ attention as they dominate the world’s oil & gas industry; yet many of the cases prove to be problematic. The emerging markets possess some of the most important NOC players, yet scant examination has been made to question their appropriateness. This paper presents a contextualized comparison between two NOCs that root in Brazil and China to illustrate how similar and different they are in terms of their ownership style, corporate governance characteristics, and the interactions they have with the host government. We analyzed the findings by matching them with the past theories that offer explanations on NOC performance variation. We concluded that first, regime type is not a dependable factor to indicate the actual state incentives to maintain NOCs, and the goals of state serve only as an equivocate factor in explaining the variation in NOC performances. Secondly, we speculated that due to the absence of a cohesive institutional logic and consistency, Brazil has a fragmented governance system that implies in inappropriateness of state capitalism. Thirdly, we discovered that the unique dynamics between informal and formal institutions in China may justify the better fitness of state capitalism when compared with Brazil. Certain limits to the research method and expectations on further inquiries are also developed.

This dissertation deals with the nature of the Chinese economic system. The first chapter focuses on the global economy and seeks to define the main economic systems prevailing in it, ie. Anglo-Saxon, Continental and Asian-developmental. Compared to these systems defined as market economies, the dissertation consequently analyses and defines a system of state capitalism and the main elements of it. The following part of the dissertation is focused on the historical Chinese approaches to economic governance of the country and attempts to identify those historical approaches that are still relevant and influential in modern Chinese economy. The third chapter analyses the Chinese economic system and the role of the state in it; it also examines the government's approach to the ownership of state enterprises and the overall extent of state ownership in the Chinese economy. The final chapter examines the different types of state subsidies to domestic, often state, enterprises in China. As an example of the various subsidies a case study on the automotive industry is used.

當俄羅斯正經歷著政治結構與經濟體系同時轉變的考驗時，連年下降的國有企業生產力與總產量並未隨著改革工作的進展而有所提升，即使改革措施因為先前政策的成效不彰而有所調整，但俄羅斯的總體經濟表現依然不理想。為了探究 1992 年年初到 1994 年年中這段期間俄羅斯國有企業政策的內容、實施的成效，以及政策取向變化的原因，本文先從財產權途徑與市場結構途徑著手，分析決策過程中不同的部門對國有企業的預算約制、協調機制與市場結構的看法，然後歸納出兩種不同的政策取向：保護取向與效率取向。保護取向者以國有企業員工及立法機構的成員為主，主張維持現有制度與就業水準，避免失業引發社會問題，並增加對國有企業資源的投入以提高企業產量。效率取向者以新興的經濟學家及部份的內閣成員為主，希望建立新的機制以減少資源投入的數量，但賦予國有企業提高生產效率的誘因，使其提高產量，如此一來便可以減輕政府的財政負擔，並達到穩定金融及控制通貨膨脹的目的。1992年年初俄羅斯行政機構中的效率取向者取得了優勢的決策地位，並且開始採取穩定化與價格自由化等改革措施，但緊縮資源投入的改革方式卻造成國有企業員工的恐慌，從系統論的觀點來看，民主化之後的俄羅斯因為政策承受者的反饋機制開始強化，因此效率取向者的改革措施便遭到立法機構中保護取向者的修正，而開始向擴張支出的政策方向傾斜。雖然效率取向者試圖以憑證私有化政策換取民眾對改革的信心，甚至以發動流血政變、重新制定憲法等方式變更制度設計以重新取得優勢的決策地位，但因為其緊縮政策忽略了市場結構因素，難以提升企業產量，又引發企業員工對失業的恐懼，因此保護取向者便又在 1994 年年初佔領了優勢的決策地位，主導了政策的走向。總括 1992 年年初到 1994 年年中俄羅斯國有企業改革政策的走向，便可以得出政策取向在保護取向與效率取向之間連續擺盪，但結果卻受保護取向影響較深的局面。 / When people in Russia suffered from the transformation of the political structure and the economic system, the performance of state-owned enterprises (SOEs) in Russia did not improve , either. In order to find out the options of reform strategy and the cause of failure, this research applies the property rights approach and the market structure approach to analyze the budget constraint, coordination mechanism, and market structure problems of SOEs. Combing those problems with the decision making process founded on systems model, we made a conclusion that there were two policy orientations in solving the SOE problems: one is the protection-orientated policy, and the other is the efficiency-oriented one. Most employees of SOEs and legislators preferred the protection-oriented policy because they were afraid of unemployment and bankruptcy of their enterprises by privatization. On the contrary, the efficiency-oriented government placed its emphasis on the rampant inflation and preferred to cut the government expense by reducing the investment in SOEs. At the beginning of 1992, the efficiency-oriented stabilization policy and the liberalization of price became the focuses of reform. Those retrenchment policies limited the spending of SOEs and reduced the government's popularity, too. In order to keep the enterprises operating, employees of SOEs and legislators expected more investment from the government. With the feedback function performed by legislators, the protection-oriented policy substituted the efficiency-oriented one from the mid of 1992. To dominate the reform strategy again. President Yeltsin dismissed the congress in September 1993 and called for the referendum of new constitution and the election of new congress in December 1993. Although the efficiency-oriented government tried to recover the public confidence of reform by controlling the inflation, but the employees, living in the fear of unemployment, did not place their trust in government. After the election, the protection-oriented deputies still occupied the majority seats and turned the direction of reform strategy again. In sum, the orientation of reform policy of SOEs in Russia swung all the time since 1992 to 1994, but the protection-oriented policy had more influence on it in general.

Submitted by Francisco Cioci (franciscoc@fgvmail.br) on 2014-07-21T20:39:32Z No. of bitstreams: 1 AAAATESE35.pdf: 3620389 bytes, checksum: bb16bdec94f14d3d7b35e9466ffe1477 (MD5) / Approved for entry into archive by Janete de Oliveira Feitosa (janete.feitosa@fgv.br) on 2014-07-22T21:30:23Z (GMT) No. of bitstreams: 1 AAAATESE35.pdf: 3620389 bytes, checksum: bb16bdec94f14d3d7b35e9466ffe1477 (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2014-07-23T12:23:53Z (GMT) No. of bitstreams: 1 AAAATESE35.pdf: 3620389 bytes, checksum: bb16bdec94f14d3d7b35e9466ffe1477 (MD5) / Made available in DSpace on 2014-07-23T12:24:02Z (GMT). No. of bitstreams: 1 AAAATESE35.pdf: 3620389 bytes, checksum: bb16bdec94f14d3d7b35e9466ffe1477 (MD5) Previous issue date: 2013-12-20 / After identifying the existence of a theoretical gap, this work has defined its objective as: the establishment of the foundations for an episteme about the phenomenon, through the development of a theory frame able to: a) guide and support the construction and collective development of a Scientific State-Owned Enterprises and Shareholdings Theory – SSOESTh, and b) to identify elements that enable the development of answers to the central applied question: How should governments define the missions, the performance criteria and the mechanisms of governance for SOEs in a changing environment? Taking into consideration these enterprises’ materiality, their strategic relevance to contemporary states their implications to the globalizations and considering administration as an applied science, all of which demand a societal level of analysis and a multiparadigmatic multidisciplinary approach, the theory frame provided answers to several concerns and problems expressed, some over more than half a century, by authoritative scholars in the field as Pritchett, Seidman, Sherwood, Shepherd, Aharoni, Millward, Hinds and Baumol. Forwarding, through phenomenological reduction, a scientific definition of a universal concept of state-owned enterprise and introducing, inter allia, the concepts of essential state capacity in its bracket – ESCb and of patrimonial state-owned enterprise, that allowed the constructions of a public interest scale; the SSOESTh’s rueschemeyerian focused theory frame dimentionalized public and corporate governances, developed lazarsfeldian typologies for each and merged them in an universal typology – G², bridging both hemipheres of the great dichotomy of law and suporting propositions of universal criteria for missions, performance and mechanisms of governance. A plausibility probe of the focused theory frame was conducted with data from SOES directly controlled by the brazilian state, resulting in high levels of plausibility and quality. Externally, the SSOESTh contributes to several broader cientific challenges as: Balleisen's regulation's knownedge paradox, Schneiders trap, Ikedas/Mises doubt, the reopening of the organization adequacy question by the nobel Simon; additionally providing extensions to: the nobel Williamson's typology of governance structures, Riggs' theory of the prysmatic society, Simon's conception of administration as an applied science, Acemoglu and Robinson's institutionalist formulations and the nobel Stiglitz approaches to state intervention. It also enables: a) Each country to substruct its own empirical typology of SOEs, and so, to customize answers to the central applied question and each SOE management, as well as to analyze their adequacy to public policies and criteria for their privatizations; b) Managers, practitioners and case researchers to use the frame to situate and analyze their enterprises; c) Past researches to be reinterpreted at the light of this new referential and d) Everyone to connect their works with this episteme for which the SSOESTh provides the foundations and is a repository, allowing comparative studies. Finally, it is acknowledged that the degree of relevance of the phenomenon, in global terms, is much higher than initially attributed, due to the identification of its condition as an empirical factor of state capacities, considering that several state collapses and débâcles, which resulted in unbearable costs including innumerable human losses, are attributed to the absence of these capacities. / RESUMO Ao identificar a existência de lacuna teórica, o presente trabalho definiu como seu objetivo: Estabelecer os alicerces de uma epistéme sobre o fenômeno por meio do desenvolvimento de um arcabouço capaz de a) direcionar e dar sustentação à construção e ao desenvolvimento coletivo de uma Teoria Científica das Empresas e Participações Societárias Estatais – TEPSES, e de b) identificar elementos que viabilizem o desenvolvimento de respostas à questão aplicada central: Como devem os governos definir as missões, os critérios de desempenho e os mecanismos de governança das empresas estatais em um ambiente em mudança? Considerando sua materialidade, a relevância estratégica dessas empresas para os Estados contemporâneos, suas implicações para os processos de globalização e a administração uma ciência aplicada a demandarem nível de análise societal e abordagem multiparadigmática, o arcabouço e seus elementos proporcionaram resposta a várias inquietações e problemas expressos, alguns por mais de meio século, por autoridades no campo como Pritchett, Seidman, Sherwood, Shepherd, Aharoni, Millward, Hinds e Baumol. Oferecendo por redução fenomenológica uma definição de conceito universal para as empresas estatais e introduzindo, inter allia, os conceitos de capacidade essencial de Estado em seu intervalo – CEEi e de estatal patrimonial, que permitiram a construção de uma escala de interesses públicos; o arcabouço teórico focado rueschemeyeriano da TEPSES, constrói pontes entre os hemisférios da grande dicotomia do direito e entre aspectos de governanças pública e corporativa, por meio de tipologias lazarsfeldianas. Em suas seis dimensões iniciais e trinta e três relações o arcabouço foi aplicado por sondagem plausibilística ao caso das estatais diretas brasileiras, apresentando elevado grau de plausibilidade e qualidade, inclusive segundo critérios de Wacker. As formulações e explicitações da TEPSES oferecem respostas e possibilidades de tratamento a várias questões científicas mais amplas como: o paradoxo do conhecimento na regulação de Balleisen, a armadilha de Schneider, a dúvida de Ikeda/Mises e a reabertura da questão de adequação organizacional pelo nobel Simon; proporcionando ainda extensões a: tipologia de estruturas de governança do nobel Williamson, as concepções de sociedade prismática de Riggs, a definição da administração como ciência aplicada do nobel Simon, as formulações institucionalistas de Acemoglu e Robinson e as abordagens sobre intervenção de Estado do nobel Stiglitz. O arcabouço da TEPSES possibilita: a) a cada país, construir sua própria tipologia empírica de empresas estatais e assim geri-las a partir de respostas customizadas à questão aplicada central, analisar sua adequação como instrumento de políticas públicas e desenvolver critérios para suas privatizações; b) a gestores, pesquisadores e estudiosos de caso situar e analisar suas empresas a partir do arcabouço; c) às pesquisas pretéritas, terem seus dados reinterpretados à luz de um novo referencial e d) a todos, a possibilidade de conectarem seus trabalhos à epistéme da qual a TEPSES é alicerce e repositório. Conclui-se que o grau de relevância, em nível global, do fenômeno é na realidade muito superior à sua materialidade e ao grau de relevância atribuído inicialmente, devido à identificação de sua condição como fator empírico de capacidades de Estado, uma vez que à ausência e deficiências dessas capacidades são atribuídos colapsos e débâcles de vários Estados nacionais, que resultaram em elevadíssimos e incalculáveis custos humanos.

Corporate social responsibility (CSR) and multinational companies (MNCs) landed in Chinaalmost at the same time. However, the Chinese market where the governmental role is alwaysinfluential provides a specific setting for the CSR development in China. The purpose of thisthesis is to analyze the governmental role in the CSR engagement of SvenskaKullagerfabriken (SKF) in China based on a literature review, qualitative case study, semistructuredinterview and three mini-cases study. By adopting these methods, it is found thatthe Chinese government is trying to provide a more CSR-friendly policy and stricterlegislation in order to guide the Chinese business towards a sustainable direction. Besides, inrecent years, the Chinese government is also re-orienting the social values that are claimingthe return of the traditional business ethics and promoting the level of CSR in the Chinesesociety. A triangulated model is developed in this thesis to analyze the case company. Theexperience of SKF indicates that the company’s CSR strategy is universal, whereas its CSRengagement has changed along with the Chinese development. It is found that there are fourphases of SKF’s CSR development in China, and each phase is associated with andstimulated by the specific scheme during the Chinese social and economic development.Among the variables in Chinese changing society, the macro-policy is deemed by SKF as thekey factor that has the largest impact on the CSR engagement of the company. After thisresearch, the research gap will be filled in with an empirical case. Yet, the future efforts inempirically investigating more companies are suggested to enrich the research on thecorrelation between the Chinese government, CSR development and MNCs in China.

This thesis investigates manufacturer-distributor power relationship in the Chinese Iron and Steel Industry. The main objectives of this study are to identify, describe and investigate the power relationships in Chinese Iron and Steel Industry; to understand the concept of power from the perspective of distributors and their relationship with State-Owned Enterprises and Private-Owned Enterprises in this industry; and to explore the possibility of developing an extended research power-relationship framework by investigating the power construct and potentially related and relevant factors in the Chinese market that may impact predicted outcomes such as positive conflict resolution attitude and levels of conflict. Two quantitative pilot studies were conducted, consisting of 14 surveys with semi-structured questions each, which were instrumental in the design of an extended power relationship model by incorporating the factors such as the level of trust, frequency of communication and level of guanxi that drive positive conflict resolution attitude into the traditional power model that had not been combined in a single framework before. Subsequently, the main study was carried out comprising 148 questionnaires completed by distributor firm managers. These represent the views of 74 respondents, who responded for both state-owned enterprises and private-owned enterprises in the Chinese Iron and Steel Industry The sample size is 74 respondents including 14 respondents that were also respondents for the pilot studies. This study generated four main findings. 1) a State-Owned Enterprises tend to use more non-coercive power than Private-Owned Enterprises, and have a stronger negative effect than Private-Owned Enterprises; 2) although Private-Owned Enterprises were rated higher than State-Owned Enterprises in the level of trust, and have a stronger positive effect when explaining the observed relationship between the level of trust and positive conflict resolution attitude, the difference is really minimal; 3) Private-Owned Enterprises were rated higher than State-Owned Enterprises in the frequency of communication, and have a stronger positive effect than State-Owned Enterprises in the explanation of the relationship between frequency of communication and positive conflict resolution attitude. 4) Private-Owned Enterprises were rated higher than State-Owned Enterprises in the level of guanxi, and have stronger positive effect than State-Owned Enterprises in the explanation of the relationship between level of guanxi and positive conflict resolution attitude. These findings contribute to fill gaps in the literature with regard to power relationships in distribution channels. This thesis extends the current boundary of knowledge through the formulation of an extended framework that integrates conflict resolution constructs into a typical/traditional power model. This extended framework comprises new constructs such as level of trust, frequency of communication and level of guanxi and hypothesises their impact on conflict resolution attitude and level of conflict in the Chinese distribution channel. New knowledge is created by investigating differences regarding the use of power by SOEs and POEs considered from the distributor perspective in the Chinese context. Theoretical and managerial implications are discussed in detail.