ABSTRACT
Michael J. Whincop and David A. Skeel make an important contribution to the debate surrounding appropriate governance regimes for government owned corporations (GOCs). They analyse the managerial challenges facing GOCs in agency terms. Michael J. Whincop offers survey evidence that identifies the extent to which Ministers might interfere with or influence the boards of GOCs. He considers the major shareholder in a private company analogy. It is a potentially useful device, although – as he acknowledges – it must be treated with some caution. Michael J. Whincop extents to which the Ministerial shareholders overseeing a GOC will act in the way in which we hope major shareholders in a publicly listed company will act. David A. Skeel refers to the economic literature that tends to confirm the Bible was right when it said that a man who serves two masters is in reality the servant of none. He makes a number of interesting and useful recommendations for governance reform.
