The Routledge Handbook of State-Owned Enterprises

State-owned enterprises make up roughly 10 percent of the world economy, yet they are woefully understudied. This handbook offers the first synthesis of the topic since the 1980s and offers a comprehensive reference for a generation. The authors provide a detailed explanation of the theory that underpins the expansion of state-owned enterprises in the 21st century. Each chapter delivers an overview of current knowledge, as well as identifying issues and relevant debates for future research. The authors explain how state-owned enterprises are used in both developed and developing countries and offer an insight into complex and fascinating organizations such as the German municipal conglomerates or the multinational companies owned by states. New modes of governance and regulation have been invented to make sure they act in the public interest. This handbook brings together a wealth of international scholars, offering multiple theoretical perspectives to help shape a brave new world. It will be of interest to teachers and students of Economics, Public Administration and Business, academics, established researchers and PhD students seeking rigorous literature reviews on specific aspects of SOEs, as well as practitioners and decision makers in international organizations.

List of figures List of tables List of contributorsPreface and acknowledgementsIntroduction Luc Bernier, Massimo Florio and Philippe BancePART IThe scope of the phenomenon1 History of western state-owned enterprises: from the IndustrialRevolution to the age of globalization Giuseppe Bognetti2 Local public enterprises as providers of public services inEuropean countries: shifts and dynamics Hellmut Wollmann3 State-owned enterprises: rising, falling and returning? A brief overviewMalcolm G. Bird4 State-owned enterprises and the public mission: a multidimensional lensMaddalena Sorrentino5 Varieties of state capitalism and reformed state-owned enterprisesin the new millenniumStefano ClòPART IIPerspectives on history and geography 6 Concepts of German Gemeinwirtschaftslehre and the changed roleof public enterprises Gabriel Obermann and Thomas Kostal7 State-owned enterprise and privatisation: some lessons from the UK David Parker8 On traits of legitimate internationally present state-owned enterprises Przemyslaw Kowalski9 State-owned enterprises and industrial development in Latin America Francisco Castañeda, Diego Barría Traverso and Jean-Baptiste Carpentier10 The Industrial policy role of European state-invested enterprisesin the 21st century: continuity and change across phases ofdomestic and global transformation Roberto Cardinale11 State-owned enterprises in contemporary China Wendy LeutertPART IIIApproaches to the study of SOEs 12 Economics of state-owned enterprises Talis J. Putninš13 State-owned enterprises as institutional market actors: a gradualinstitutional change perspective on domestic SOEs in the marketizationof public services Lene Tolstrup Christensen14 Legal aspects of public enterprises: remarks based on a comparativestudy of French, European and American legislation Fabien Bottini15 Don’t get too excited: the structural limits of state-ownedenterprises in capitalist economies David McDonald16 Motivation and performance in state-owned enterprisesJohan Willner and Sonja Grönblom17 The politics of state-owned enterprises: the case of the rail sector Jane Lethbridge18 Principals and agents: The relationship between governmentsand state-owned enterprises Sandra van Thiel, Marieke van Genugten and Bart VoornPART IVFinancial dimensions of public ownership 19 Public stock ownership Giacomo Corneo20 Financialisation and the future for SOEs Ben Fine and Kate Bayliss21 Sovereign wealth funds as international institutional investors:a re-evaluation Chen Meng22 Contemporary development financial institutions in Europe Daniela Vandone, Marco Frigerio and Stefano Clò23 State-owned enterprise hybrids Aidan Vining and Claude LaurinPART VIssues about governance 24 Corporate governance of state-owned enterprises: conceptualization,challenges and perspectives for the public corporate governance field Ulf Papenfuß25 Corporate governance in state-owned enterprises: the role ofinformal institutions Igor Postula and Aleksandra Wasowska26 Public accountability of state-owned enterprises: approachesand research trends Dorothea Greiling and Christina Schaefer27 Utilities policy and reform: the changing relationship betweencitizens and SOEs Manto Lampropoulou28 Vox populi, vox dei: state-owned enterprises in the court ofpublic opinion Carole Rentsch, Fabian Liechti and Matthias Finger29 State-owned organization strategy: at the interface of societyand business Taïeb HafsiPART VIThe activities and performance of SOEs 30 The performance of public enterprises Sergio Perelman and Pierre Pestieau31 State-owned enterprises as policy tools Michael Howlett and M. Ramesh32 (Re)municipalisation: a new era for ownership and controlof local public service delivery? Daniel Albalate, Germà Bel and Eoin ReevesPART VIISOEs and innovation: a new frontier 33 Mission-oriented public organizations for knowledge creation Paolo Castelnovo and Massimo Florio34 Reconsidering innovation in state-owned enterprises Matteo Landoni35 The role of state-owned enterprises as drivers of innovation María del Carmen Sánchez-Carreira, Xavier Vence and Óscar Rodil-MarzábalConclusion Luc Bernier, Massimo Florio and Philippe BanceIndex

Luc Bernier is Jarislowsky Chair of Public Sector Management, Faculty of Social Sciences, University of Ottawa, Canada.Massimo Florio is Professor of Public Economics at the University of Milan, Italy,and the President of the CIRIEC International Scientific Commission Public Enterprises/Public Services.Philippe Bance is Professor of Economics at the University of the French Antilles and the President of the International Scientific Council of CIRIEC (International Centre of Research and Information of Public, Social and Cooperative Economy).