Business Ethics and Corporate Governance, Second Edition

CORPORATE GOVERNANCE IS NOT ONLY A PRIVATE SECTOR AFFAIR

In many developing, emerging, and transition economies public sector companies contribute more to the nation’s gross national product, employment, income, and capital use than private sector firms. Moreover, public sector companies often shape public policies. As a result, instituting sound corporate governance practices within public sector companies is essential to economic development, growth and reform. To begin with, public companies need to be corporatized before they can be privatized. The corporatization process can, at times, be lengthy. Even after corporatization, it takes time before the new company benefits from active owners and skilled managers. In the meantime, good management ...