Tagliani, Giovanni;
(2021)
Entrepreneurship in State-Owned Enterprises. An International Comparative Analysis of IRI, Temasek and öiag.
L'Industria - Review of Industrial Economics and Policy
, 42
(1)
pp. 149-174.
10.1430/99917.
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Abstract
In the last two decades, the global economy has witnessed the success of Chinese state-owned enterprises and a resurgence of SOEs as integral parts of national industrial strategies. However, mainstream theory often fails to grasp the array of different SOE typologies and the essence of state entrepreneurship. The purpose of this work is to identify a spectrum of SOEs and entrepreneurial ways of running SOEs through an international comparative analysis. An evaluating framework based on the capacity of SOEs to be visionary, to return rewards to the state, to achieve social goals, and to be independent is used to evaluate the performance of three SOEs: IRI, Temasek and öiag. All three companies are State Holding Companies since this type of soe provides the flexibility necessary to follow an entrepreneurial management style. This international comparative analysis highlights that, in order for SOEs to be entrepreneurial, they must go beyond fixing market failures and that social goals are not necessarily in opposition to rewards, and to profitability in particular. The state should not just fix market failures, it must create new markets and new paths of development for national economies. SHCs can be effective tools in achieving these results.
| Type: | Article |
|---|---|
| Title: | Entrepreneurship in State-Owned Enterprises. An International Comparative Analysis of IRI, Temasek and öiag |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1430/99917 |
| Publisher version: | https://doi.org/10.1430/99917 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Entrepreneurship, State-Owned Enterprises, Performance Evaluation, Corporate Governance, IRI, Temasek |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Inst for Innovation and Public Purpose |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10183768 |
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