ABSTRACT
Maxwell Stearns notes, most government owned corporations (GOC) are created in an attempt to mimic the behaviour of private firms. Bryan Horrigan makes clear, is that corporate law rules that are intended to regulate directors' behaviour often become strained in the public sector environment. One reason for this is that the corporate law model assumes that the primary accountability audience is the company's shareholders. Spencer Zifcak addresses dimension of the problem, exploring the accountability of private regulatory authorities that oversee the operation of government companies. He also notes another form of hybridism, where private entities perform public regulatory functions. He marks, there are choices to be made about who should be accountable, and to whom accountability should be provided. The general pattern for GOCs is that the formal accountability requirements are imposed on the individuals who comprise the board of directors.
