— Ownership and Governance of Enterprises

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Conventional wisdom recommends the superiority of private ownership of enterprises. The reality confronts it with a rich diversity in ownership and governance structures. This volume examines five types of unorthodox ownership and governance form emerging in the industrial sector across major economies. It analyses two cases to demonstrate that there are alternative ways to harden budget constraints of state-owned enterprises. It investigates what forces have driven these new developments and what functioning mechanisms have underlain the adaptive dynamics. It also looks at relevant policy implications for developing and transition economies. Thanks to the expanding role of these innovative ownership and governance forms in both the developed and developing economies, the perspectives and analyses presented in this book are of vital interest to various business people such as investment bankers, corporate lawyers, and business consultants, as wells as to regulators, policy-makers and scholars.