State-Owned Enterprises and Corruption
What Are the Risks and What Can Be Done?
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Corruption is the antithesis of good governance, and it is a direct threat to the purpose of state ownership. This report brings a comprehensive set of facts and figures to the discussion about the corruption risks facing state-owned enterprises (SOEs) and how they, and state ownership, go about addressing them. The report suggests options to help the state as an enterprise owner fight corruption and promote integrity in the SOE sector, laying the foundation for future OECD guidance on the subject.
Executive Summary
State-owned enterprises (SOEs) are a main conduit for states to exercise their role as economic actors. The benefits of SOE ownership are economic, political and social. So too are the costs of any mismanagement or abuse. Today, SOEs account for 22% of the world’s largest companies and are often concentrated in sectors with strategic importance for the state and society, including for development. More and more, SOEs operate like similar private firms, increasingly active internationally and accounting for a greater market share.
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